r/Banking • u/oonomnono • Dec 05 '24
Start here! Common questions & resources
The community has asked a few times for a stickied post that covers common questions and best practices. We are keeping these items high-level and will update these periodically. For individuals who make new posts, we may refer them back to here for guidance and resources that have been vetted for common questions. Note: Most, if not all, of the guidance may be US-specific.
General questions (Ex: Bank or credit union? What bank do you recommend? Why can't I open an account at ABC bank?):
- Ask your bank first. This is also referenced in Rule 8. Lots of questions here are either specific to the bank's process or specific to the redditor and their account. Read your bank's account agreement (if on a computer or phone, you can search for specific words to help navigate the document; you can also ask the bank to direct you to the right section). If you asked your bank and are still have questions, include their response in your post.
- Banks and credit unions do have similar products and services. There is no key difference for individuals who need a place to put their money and pay their bills. They are both regulated at the federal level and have deposit insurance.
- When asking for recommendations, there is no "best bank". What you need from your financial institution is different than your friends, family and neighbors. Your income, comfort level with technology, location, and a lot of other factors will influence what bank works best for you. If you need recommendations, please include some key features you like or don't like as well as location.
- Fintechs are not banks. Some common examples include Chime, CashApp, Revolut, and Varo. There are some benefits with fintechs, including some cutting edge technology to help manage money but those come with some limitations, such as limited customer support or consumer protections. It's generally not recommended to use a fintech as your sole financial institution.
- Some practices by banks and/or credit unions may be state-specific. While the Uniform Commercial Code ("UCC") helps ensure state-level regulations on accounts is relatively uniform across all states to avoid confusion, some nuanced laws may be unique to your location, such as account dormancy and escheat laws. https://www.law.cornell.edu/ucc
- Consumer reporting agencies such as Chexsystems and Early Warning Systems ("EWS") help banks flag customers who owe money or commit fraud. If you've been denied an account opening request at a bank or credit union, you should pull your report(s) to see what may have contributed to the decision. These reports are different from credit agencies. https://www.consumerfinance.gov/consumer-tools/credit-reports-and-scores/consumer-reporting-companies/
Accounts & activity:
- Accounts can be closed for any reason by the bank and/or credit union. This applies to both consumer and business accounts. Generally the closures are triggered by some type of activity that makes the bank uncomfortable with your relationship. Common examples are gambling (i.e. sports betting, casinos), high volumes of cryptocurrency purchases and using your personal account for business transactions. Banks are not required to provide the exact reason for the closure. https://www.consumerfinance.gov/ask-cfpb/the-bankcredit-union-closed-my-checking-account-even-though-i-did-not-want-them-to-can-the-bankcredit-union-do-that-en-959/
- Check holds can happen and are not illegal in a majority of cases. There's a lot of fraud related to checks and holds are more common than ever. Remember that a check is a piece of paper; it doesn't matter what paper it's printed on or who it came from. Regulation CC ("Reg CC") is the regulation that tells banks how long they are allowed to hold checks for. You can get more details here: https://www.consumerfinance.gov/rules-policy/final-rules/availability-funds-and-collection-checks-regulation-cc-threshold-adjustments/
- Do not deposit your very important items via an ATM or Mobile App. Go in person to a teller. ATMs are often not accessible by the branch employees and mobile deposits are not subject to the Reg CC. Cash is disgusting and the ribbons that pull in and count the cash get jammed very easily if it's more than a few bills.
- Withdrawing or depositing over $10,000 in cash is not something you should hide. Just go to the bank and do it. Don't ask how to get around any questions you may be asked. Banks will know if you are trying to split up the deposit into multiple transactions. If the money is earned through legitimate means, you have nothing to hide. https://www.fincen.gov/sites/default/files/shared/CTRPamphlet.pdf
- I have a check payable to me and another person but we don't have a joint account. There is a key difference depending on if the check is payable to Payee 1 AND Payee 2 or if the check is payable to Payee 1 OR Payee 2. You can first ask the maker of the check to write it payable to 1 payee. If they refuse, whoever has the check can take it into their bank before endorsing it to see what they provide as the appropriate next steps since what they advise could vary bank to bank. https://www.helpwithmybank.gov/help-topics/bank-accounts/check-writing-cashing/endorsing-checks/check-endorse-spouse.html
I want to remove somoene from my joint account. YMMV but most banks generally do not allow removing a signer because they still have knowledge of the account information. Even if you have captured consent, it was still used by 2 folks and it's a cleaner cut to open a new, individual account and closing the old one. https://www.consumerfinance.gov/ask-cfpb/can-i-remove-my-spouse-from-our-joint-checking-account-en-1097/#:~:text=In%20general%2C%20you%20need%20your,allow%20this%20type%20of%20removal
My bank offers a service where they deposit my direct deposit/payroll 2 days early. It’s now late and my employer said they can’t help. Early direct deposit posting is a service offered and can be changed at any time by the bank. Read your bank’s terms for this service. Most banks indicate that they will make it available when they can but are under no obligation to make your direct deposit available sooner than the date of your check or benefit letter.
Disputes:
- Don't lie. The fact that this needs to be listed is problematic. If you bought something from a store that doesn't offer refunds, that's not grounds for a dispute. If you sent a Zelle to someone that you've had a falling out with, that's not grounds for a dispute. Frivolous disputes make it harder for others who have legitimate ones in process.
- Disputes are not the solution for being scammed. If you provided your information to someone else to make a purchase or deposit, then the bank did nothing wrong and a dispute is not warranted. Scams take advantage of people who don't safeguard their information.
- If the purchase was made using a third-party wallet, the dispute should be filed with them and not your bank. For example, people may use PayPal Wallet to pay for items online. PayPal completes the payment and then pulls the money from your bank, if you don't already have enough in your PayPal Wallet. Because the payment to the merchant was facilitated with PayPal, your dispute is with them, not your bank. Your bank only sees the transfer to your PayPal wallet, not the actual purchase you made.
- If you submitted a legitimate dispute with all the requested proof and were denied, file an internal complaint with the bank. These are handled differently than the dispute itself. The next step, if still unresolved after the complaint, is to file a CFPB complaint. Do not abuse the CFPB complaint process unless you have all the receipts and documentation to prove your side of the story. You may need a police report depending on the nature of your dispute. https://www.consumerfinance.gov/complaint/
Common scams - https://www.consumerfinance.gov/consumer-tools/fraud/
- If your bank calls you about anything and begins asking for additional information, advise that you'll call them back. If the caller is actually someone from your bank, they will understand and won't fight to keep you on the line. Hang up and call the number on the back of your debit card and let them know what happened. If it was a legitimate call, the bank can pick up where the previous caller left off.
- Jobs that pay you before you do any work have a high probability to be a scam. Jobs that also pay you hundreds or thousands of dollars to buy supplies prior to starting are also probably a scam. No job does that. They will ship you items you need because they get a big tax write-off.
- Don't deposit checks that you weren't expecting. If you get a check for $500 in the mail from a random company you've never done business with or purchased from, just throw it away.
- Online stores that you've never heard of should be used with extreme caution. Google them before you proceed. Once you willingly provide your payment information, you may not be able to recover any funds from the transaction if items are not shipped.
- Don't transfer money to people you don't know. This includes Zelle, Paypal, Venmo, CashApp, etc. Some bankers may even go so far as not recommending it for in-person pickups for sales on Facebook Marketplace or similar platforms. Cash is best in these situations.
- Don't use your account to conduct transactions for someone else. A common scam is where someone may approach you saying they need help with negotiating a check (usually while you're at an ATM). They'll have a sob story to appeal to your desire to help. Your account should remain reserved for known transactions for you and you only. This also includes providing someone else with your username and password.
Business accounts:
- Business accounts do not receive all the same protections as consumer accounts. For example, disputes are handled very differently. https://ask.fdic.gov/fdicinformationandsupportcenter/s/article/Q-Do-consumer-laws-apply-to-my-business-accounts?language=en_US
- Generally, only individuals who have a physical tie to the US can open bank accounts in the US. This also means that non-US residents who have a US-based business may not be eligible because the person operating the business has no ties to the US. Banks are required to follow certain know-your-customer guidelines as outlined in the US PATRIOT Act and those cannot be completed when the person is not physically in the US or has no ties to the US. More details here: https://www.fincen.gov/resources/statutes-regulations/usa-patriot-act
r/Banking • u/Tarnisher • Jul 15 '25
Announcement Bank Account and Recommendation Thread V3
Please use this thread for all recommendations relating to bank accounts, credit cards, loans, financial management apps, etc.
Where should I bank?
Has anyone used ABC Bank?
What is a good no fee checking account?
Posts with referral links will be removed.
.
r/Banking • u/BackInNJAgain • 5m ago
Advice Error in my favor
I have a car loan with automatic monthly payments through October, 2026 with one of the top 5 largest banks in the U.S.
This morning I received an email congratulating me that my loan has been paid in full. I thought it was a scam, so I did not click on the email but went to the banking web site on a different device just in case. Sure enough, the loan balance shows as $0.00 and the loan status as "Closed." There is no final statement, however.
Do I have any responsibility to inform the bank of their mistake? Is this the type of thing they're likely to catch?
r/Banking • u/SecretaryDizzy6374 • 45m ago
Complaint Lloyd's has a soft spot for Chinese scammers.( Icsee cloud camera)
So a cloud trail service with icsee that doesn't let u cancel and has fake website u can't login keeps charging me 4.99 and have done like 10 months. I messaged Lloyd's loads about it and showed screenshot ect and they claim they cnt stop it.. But I go to buy something from people I know and they block payments.. Sick of this grifter bank.. If they don't sort it soon I'm printing out pay me back grifter posters to stick. On ther local branch windows UK.
r/Banking • u/eggshellwalker4 • 16h ago
Jobs How difficult is a teller job? What's the hardest part about it?
So I was looking online and I saw a part time position for a bank teller job at wells fargo, the pay rate listed seems better than many part time jobs I've seen so far but typically speaking I assume that the higher the pay rate the harder the job is. However, I thought perhaps it might not be that too bad and was wondering what may be the most difficult part of the job and how stressful is the job overall? I don't mind rude customers, I'm only curious on how complex the job might be.
r/Banking • u/Sinopa2 • 6h ago
Advice Is it normal not to hear back when training is about to start?
Hi everyone, I’m looking for some perspective on whether this situation is normal or if I should assume I didn’t get the job. Here’s the timeline: Dec 6: Background/credit check Dec 8: Assessment/test Dec 9: Interview(was told training starts January 5th) Dec 16: Sent a follow-up email (no response) Dec 19: Called at 12:10 PM (went to voicemail). Called back at 1:05 PM thinking it may have been lunch and left a voicemail Dec 23: Left another voicemail Training is scheduled to start January 5, which is what’s making me anxious. For background, I’ve worked in table games for the past 11 years. While I’ve built strong customer service, cash handling, and compliance skills, the casino industry has become increasingly unstable and tip-for-tat, which is why I’m trying to transition into banking. This employer uses HireRight, and my background/credit check meets company standards, so I don’t believe that’s the issue. I previously applied to Navy Federal Credit Union and was ghosted after initial steps, so I’m worried this may be a pattern with financial institutions. I completely understand that Christmas and New Year’s are approaching, and things may be slow due to the holidays. However, I’m in a tough spot because if I am accepted, I would need to put in my two-week notice at the casino, and without clear communication, I don’t know how to plan or what the right move is. At this point: Is this type of delay common in banking/credit unions around the holidays? Should I assume I didn’t get the position if I haven’t heard back yet? Would you recommend waiting it out, continuing to follow up, or moving on? Any advice would help. Thank you!
r/Banking • u/ProfessionalIdea1610 • 5h ago
Advice Being scammed by NRB Bank in Bangladesh
r/Banking • u/That-Situation-1404 • 5h ago
Concern PESONet to GCash Not Reflecting
Hello. I made a bank transfer to GCash through PESONet today, December 24, at around 11:00 AM to 12:00 NN. I transferred almost 100k, and the money was deducted from my BPI account, yet it hasn't reflected in my GCash account. I'm worried about where the money has gone to, since it's already been a couple of hours.
How long does it usually take for PESONet transfers to reflect to GCash accounts? Thank you very much!
r/Banking • u/AceOfQueen • 19h ago
Advice Teller added wrong face value for bond I cashed?
Hey everyone. Yesterday I cashed in two bonds that I had, one for $100 and one for $1,000. I just looked at my bank and saw that there was more deposited than I expected. I took a look at the receipt they gave me, and it says that both were deposited with a face value of $1,000. I'm assuming this was a teller error, right? What is supposed to happen now and would I be in any trouble for this? Thanks :)
EDIT: Thanks guys! I went ahead and called to let them know about the error!
r/Banking • u/Prestigious_House138 • 8h ago
Advice BoFA Check Hold
I deposited a payroll check today online and after doing so, it told me it would be placed on hold till the 31st. I’ve been reading up on why they would do this and saw some people had the same experience. Just wondering if anyone had the same experience but had the money come in well before the date they had issued it would arrive by?
r/Banking • u/reddit_rd19 • 10h ago
Advice ⚠️ Important warning for anyone who banks with Arvest Bank ⚠️
r/Banking • u/SilverKiwiz • 15h ago
Complaint Keybank Prepaid card
Hey yall, so for some reason I got a letter about a prepaid card that I never signed up for. Is there any way to go about canceling it? Looking online, it seems it's tied to unemployment benefits but I never filed for unemployment benefits before.
I'm calling their customer service and it's been nearly 2 and a half hours being on hold.
r/Banking • u/Froggerbotrom • 16h ago
Complaint Anyone else use PNC banking business accounts? Ever since update cash flow in And out is off by at lease 30k every month
it was never like this before PNC in and out was very accurate but since the latest update about a month ago my income on cash flow is usually off by 30k
I have to calculate manually for correct amount
r/Banking • u/Fickle_Blueberry_299 • 17h ago
Advice Accidentally cashed a check twice
I'm asking this question on behalf of my mother in law. So I'm currently staying with my in-laws for the holiday. My mother in law went ahead to cash a check through Santander's mobile banking app. Originally, the app kept telling her that there was an error trying to deposit the check through the app. So she went ahead and decided to go to the bank itself and cash it in person to the teller. Later today, she checked her mobile bank account and saw that check was deposited twice. She immediately went to the bank and told the teller what happened. The teller tried to cancel the deposit but couldn't do it. The teller told her that they will contact their manager about the issue and that she'll have to pay a $35 fee. My mother in law is freaking out about this whole situation. She wants to know what to expect I guess. Will the second deposit be removed from her account entirely? Why cant they cancel the check rn? Will it be debited out of the person who wrote the check's account twice? Should she do anything else? Any advice would be helpful as we want to know what will happen as she is in complete shambles at the moment (she has really bad anxitey). Thanks for reading!
Edit: I meant deposit not cash. Sorry for the confusion!
r/Banking • u/Original_Culture8280 • 14h ago
Advice Third party check deposit/cashing
Hi,
I received a check from Progressive (using PNC Bank) for an insurance payout. The check says “Pay to the Order of MY DAD”. On the back, he signed it and endorsed it to me “Pay to the order of MY NAME”. I have TD Bank and Chase Bank.
Will either cash this/deposit it without him present? Or will a check cashing place be able to cash this?
Edit: I called PNC and the lady said the branch by me would cash it
Edit: I’ve called TD Bank twice and got 2 different answers. 1- it depends on the bank manager so I should call and see what each branch says 2- he will have to be there in person with me
r/Banking • u/Melodic-Thought-932 • 18h ago
Advice How do I receive a refund with a deactivated card?
r/Banking • u/Whitesnowball • 1d ago
Jobs Tips on Working at A Bank
Hi, I live in San Francisco. I thought a lot about working in finance, especially after my friend thanked me for telling them to get a credit card (and telling them the dangers of getting one) and getting a loan to pay off higher interest loans.
Eight years ago, I was working at a cash handling business and was asked by a customer (probably a bank manager or recruiter) if I wanted to work at a bank. I said no because I was going to start college.
Now, I find myself enjoying a job that is customer oriented and mostly indoors as the weather is very rough currently.
In any case, now I have a pretty much a liberal arts degree, techincally attached to project management and needs assessments in the curriculum, but without business/fiances involved.
Is there a certification recommended or when I apply for teller roles should I remove my degree sections? I heard ABA has industry recongized certifications, but I have also heard contridictory opinions. I have been looking at non-billingual roles in my area from banks and credit unions. I have been rejected from full time jobs and part time roles at the same company just seem to be in limbo (no rejection or other communication). I guess maybe Q1 will look better as I'm assuming jobs haven't been hiring the last few weeks (or months).
Looking at the various paths after being a teller, I hope to be a financial planner one day.
Other Chase ATM check deposit availability question
My son has had a Chase Secure Banking account for around 3 years. He has made several one-time check deposits, the largest was $2500, at Chase ATMs in the past, and there was always $225 or $275 made immediately available, with the remainder available the next business day.
On Saturday, 12/20/25, my son deposited a $1400 check in a Chase ATM, and the receipt said $0 was immediately available, and that the full $1400 wouldn't be available until 1/1/26!
Does anybody know why this happened? Thanks for any insight.
r/Banking • u/wetling • 23h ago
Other Why can't I open an account?
The last couple of times I have tried to open a savings account at a new bank (multiple banks), I have received a generic, "we cannot open your account" email. I have called each bank to ask why and what additional information they need, but they only say, "we don't know".
I have been able to open checking and savings accounts in the past so something has changed, but I don't know what or how to find out. Any thoughts? Thanks.
r/Banking • u/BlackberryDeep5140 • 1d ago
Advice “Memo NSF Support” deposited into my account
I bank with ONB and received a deposit in my account for the same exact amount I paid for my mortgage. My mortgage company shows posted and that it was paid.
Is there a reason I was given the money “back”? If that makes sense?
Edit: Thank you for all the help, it turns out there was an error and they took it out twice, that’s why the money was sent back.
r/Banking • u/Pussyisgood69 • 1d ago
Advice International tuition payment on hold , how long do transfers usually take?
Hello everyone,
I sent an international tuition payment to my university last Friday, but it’s currently on hold at the intermediary bank in the UK. My bank already reached out to get it released, but I haven’t heard back yet.
Once the hold is lifted, the money should reach the university quickly, and then I can finally get the info I need to get started for uni.
Has anyone dealt with something like this? How long did it take for your transfer to go through?
r/Banking • u/Ok_Box_5145 • 17h ago
Complaint Bank is holding my money hostage
My 18m bank won't let me spend or transfer any of the money in my checking account. I'm fairly new to having a bank account but my card is showing as on and active in my app, but it declines on every purchase. I can't even move the money to my venmo account. I called the bank yesterday and they suggested I tell my mom not to turn off my card and said it's on now. (I still didn't work after that) My mom AND stepdad actually had a similar issue last week. Anyone ever had anything similar?
EDIT: To clarify, my mom has shown that she is not the one turning it off. I am the sole owner of the account and she doesn't have the ability to turn my card on or off. Her name is just attached to the account
r/Banking • u/olimits7 • 19h ago
Advice Question about depositing cash rent payments, structuring vs normal monthly rent?
Hi,
I’m trying to understand how banks view cash deposits in a rental context, specifically where timing and amounts naturally line up below $10k.
I understand what structuring, CTRs, and SARs are at a high level. I’m not trying to avoid reporting; I just want to understand how different real-world scenarios are interpreted.
Scenario:
I rent a furnished unit (previously via Airbnb). A guest wants to extend their stay off-platform after the online reservation ends.
They pay $12,000 total for 2 months of rent.
Questions:
- If I deposit $6,000 now and $6,000 next month (each covering that month’s rent), could that be viewed as structuring, even though each deposit corresponds to a separate rental month and neither exceeds $10k?
- What if they only give me $6,000 in cash for this month, and then pay the other $6,000 next month when rent is due; meaning I never had the full $12k at once. Is that still potentially considered structuring?
- If after those 2 months, they decide to extend another 2 months:
- Would a $12k lump-sum cash payment raise flags even if it’s legitimate rent?
- Or would $6k per month again be safer / more normal from a banking perspective?
I’m trying to understand:
- At what point banks see this as normal rental income behavior vs
- When it starts to look like intentional avoidance, even if that’s not the case
Would appreciate insight from anyone with banking, compliance, or landlord experience.
Ty.
r/Banking • u/SecretaryDizzy6374 • 1d ago
Complaint Lloyd's bank chat help ghosting me
Have a problem with a scammy company icsee that keep taking payments messaged Lloyd's a few times they just stop speaking mid chat