What is debt

What is debt

In this article, we will discuss debt and the definition of “what is debt”
* Debt is usually amount owned by an organization (company or NGO), the Government or any individual to cover funds or other goods borrowed.
* Debt is an amount of money borrowed by one person to another.
* Debt is also the amount of money borrowed from one party by another.
* A debt is usually used by companies and individuals to purchase something they could not afford normally.
* A debt is an amount of money borrowed by an individual or a company to be paid back at later date and usually there is a cost in doing this - called interest.
* Loans, commercial paper, bonds, and others are all examples of debt.
* There are different operations that could be done with debt, for example, debt sales or debt consolidation.

What is current account

What is current account

The article will answer the question “What a current account is?” and “What could you do with a current account?”

* A current account is a bank account where you could deposit and withdraw money.
* Usually you could manage your current account in the bank branches, online, with cash machines or over the phone.
* A debit card and even checkbook usually accompany a current account. You could use your debit card to withdraw money from your current account or shop online/offline.
* Almost everybody could open a current account. There are usually no limitations on how many current accounts one person could have too.
* There are current accounts that offer overdraft if you need it.
* The current account usually offers a lower interest rate than a savings account but is more flexible on your money availability.
* Based on different promotions and offers a current account could offer additional extras like insurance or additional interest rate (usually bound to specific monthly income category).
* The current account is your daily basic account to do your shopping, bills and manage other expenditures.
* Usually there is no monthly fee or tax to support a current account. The bank is making money by operating with your money.

Should I pay off my student loan

Should I pay off my student loan

Having a student loan might be a real pain. Here is some good advice on how you could pay off your student loan:

* If you do not earn enough – you do not have to repay. It is as simple as that. If you are earning £15,000 or less you don’t have to pay off the student loan now.
* If you are earning more than £15,000 though and don’t have other loans part of your salary will automatically be deducted and go towards paying off the student loan.
* If you have other loans it is more sensible to pay them off first, as usual, the student loan has a lower interest rate.
* If you don’t have other loans it might be even more sensible to put your money into a high-interest account. This way you could earn better (as a percentage) and in the end, when you have enough you might decide and pay off your student loan.
* If you decide not to pay off your student loan it will automatically be wiped out in the future. Usually, this happens 25 years after repayments were first due.
* If you become unfit to work your student loan will be unequivocally wiped too.
* Although it is a different kind of loan student loan is still considered a debt. Therefore you should repay it.

How to find my bank account number

How to find my bank account number

Here is an article that answers all questions like:
How to find my bank account number?
What is my bank account number?
How to identify my bank account number?

Here are the best answers regarding identifying your bank account number:
* The bank account number is usually a number between 8-13 digits.
* You could identify your bank account number by looking at your debit/credit card. The account number should be after the bank sort code.
* The bank account number is not your primary credit/debit card number.
* On checks there are usually 3 sets of numbers. The first one (nine-digit) is the bank routing number, the second one (a short one) is usually the check number and the last one usually your account number.
* Call your bank and provide your details to find your bank account number.
* Look at your bank monthly statements. There should be the routing number/sort code (of the bank) and after that your bank account number (between 8 and 13 digits).
* The bank account number is listed at the bottom of each one of your checks in your checkbook.
* If you have online access to your account check there – your account number will be shown next to each of your bank accounts.

Will a bank take a ripped check

Will a bank take a ripped check

In this article, we are going to answer all questions regarding “banks taking ripped or torn checks”.

As usual, the best answers are summarized below:
* When it comes to a ripped check - it really depends if the bank will approve cashing it out. Tape it together and go to a cashier in the bank.
* The bank may decide to reject a ripped or torn check if the signature or the amount is torn.
* Get your ID and show it to a cashier in a bank. Explain what happened and show the check.
* You could try and tape the check together and then show it to the cashier.
* The most important part of a check is the signature and the amount – make sure those are clearly visible and undamaged.
* The account number is also important - make sure it is clearly visible and undamaged.
* Call your bank first and explain the situation. If they tell you they will reject the check still go and visit them and insist they accept the check.
* If you tape the check make sure you use transparent tape so the information is clearly visible.
* Do not rip your check into very small pieces – the bank will not accept it this way.

Will my credit card still work if I washed it

Will my credit card still work if I washed it

In this article we are going to answer the most asked money-related question:
“Will my credit card still work if I washed it?”

There are many answers out there and we gathered the best ones for your credit card and washing machine incident for you:

* What really counts is if the magnetic stripe on the back of the credit card is still working. If the card was bend – this could damage it, but water simply can’t damage the credit card stripe.
* Unless the credit card itself is damaged or the magnetic stripe is damaged it should still work.
* If your washed credit card does not work contact your bank for replacement.
* The biggest problem with washing your credit card is not the water but the high temperature.
* The plastic of a credit card could start melting at above 55C. You are safe in the UK but take care when you go for a holiday in Africa.
* Water (credit card washed) won’t be a problem at all. Bending, heating, and stripe damaging would be.
* More 95% of the people who washed their credit card confirm that it works after that without any problems. So there is a huge chance you are one of the lucky ones.