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Arkansas Banking Questions & Answers

1 Answer | Asked in Banking for Arkansas on

Q: How long can a bank hold money waiting on a check to return

My daughter had a check deposited into her account without her knowledge and now the bank has put hold on my tax return money because of it. I am not on her account she is 27 years old and has been on my savings account since she was 5 or 6. Well when she opened her personal account some how the... Read more »

Bruce Alexander Minnick answered on Jul 29, 2019

If you and your daughter have any joint accounts, and if either of you deposits a bad check that causes the bank to lose any money you can expect the bank either to debit your other account(s), or freeze your other accounts, or put a "hold" on your account so they can closely examine any other... Read more »

1 Answer | Asked in Consumer Law, Criminal Law and Banking for Arkansas on

Q: I live in Baxter county,ar and I had a hot check for $44 at harps grocery,now I got arrested, they said it's $341.how

And even if I paid it in full they say I'll still have to go to court for it

Bruce Alexander Minnick answered on Jun 27, 2019

Sounds like they tacked on $297 for some explainable reason. Probably a statutory minimum penalty plus costs imposed on all bad checks--so the people who write small ones will stop and think if a $44 bad check is worth $341?

ADVISE: Unless you pay the $341 in full and go to court, things...
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1 Answer | Asked in Banking for Arkansas on

Q: CAN I CLAIM MY MONEY I SENT FROM REGIONS BANK IN JONESBORO, ARKANSAS TO HSBC BANK IN LONDON,ENGLAND IM A FRAUD VICTIM?

I WIRED 0VER 15,000 TO THE BANK AND THE LONDON POLICE INFORMED ME THAT I WAS A FRAUD VICTIM FROM THE BANK THERE.

Bruce Alexander Minnick answered on Jun 18, 2019

If it helps to know it, you are only one of many thousands of Americans who have collectively lost billions of dollars to international fraud stings in the past few years. And I am sure the London police also told you there was nothing they could do about it; right? They were not lying.

At...
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1 Answer | Asked in Banking for Arkansas on

Q: Is it legal for a bank to pay only certain subcontractors, once the Architect has certified an AIA pay application

The bank has a construction loan to the owners, the general contractor turned pay application in to the Architect, who certified it and sent to bank for payment. Subcontractor has gone to the bank, he a customer there and wants paid, while rest of application is not being paid at this time

Bruce Alexander Minnick answered on Apr 7, 2019

Construction loans are disbursed piecemeal, as different phases are complete. The first phase includes paying the architect who drew the construction plans for the contractor to use when building the structure.

1 Answer | Asked in Banking for Arkansas on

Q: I had a warrant for my arrest on a hot check. I spent 2 days in the detion center in January this year I went to court

Today and I'm waiting on my disability funds. And the judge wants me back in court in June after I pay the check off its 591.00 dollars. He's talking about sentencing me in June now Wat does that mean. And is this check a misdemeanor or is it a felony

Bruce Alexander Minnick answered on Mar 27, 2019

Although I am not authorized to practice law in Arkansas I am authorized (as are you) to Google "felony bad check in Arkansas" where you will read that "hot" checks in excess of $1,000 are felonies; hot checks totaling over $1,000 if written within 90 days of each other can sometimes (but not... Read more »

1 Answer | Asked in Banking and Tax Law for Arkansas on

Q: If you don't have any property ,no car,house isn't on wellfare but have only a bank that you don't withdrawal money

It interest is about 1000' do you still file taxes?

Michelle D. Wynn answered on Mar 2, 2017

If your only income for the year is $1,000 of interest, then you would not have an income tax filing requirement. The answer is different if someone else is claiming you as a dependent and the interest was over $1,050, then you would have a filing requirement.

1 Answer | Asked in Personal Injury, Banking and Juvenile Law for Arkansas on

Q: I have a blocked savings account and I wanna know when I'm gonna be able to touch my money?

My mom died when I was five and I've got money ever since. I got money out before but I my dad had to go through the court to get it approved. I'm just wondering when I'm able to touch it fully.

Peter N. Munsing answered on Nov 21, 2016

Depends on the terms of the court order setting up the account. Some pay it out when the person is 21 or 25 or 30 so they won't blow the money on a car or other things.

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