September 2025

Most checking accounts don’t earn interest, but some high-yield and premium accounts offer modest returns. Understanding the Basics: Do Checking Accounts Earn Interest? Checking accounts are the backbone of everyday banking. They allow you to deposit money, withdraw cash, pay bills, and handle daily transactions with ease. But when it comes to earning interest, the […]

Centrelink uses data-matching and income reporting, but they do not routinely check your bank account directly without cause. Understanding Centrelink’s Approach to Financial Verification Centrelink plays a crucial role in Australia’s social welfare system, providing payments to millions of Australians. Naturally, many recipients wonder about the extent of Centrelink’s scrutiny regarding their finances. One common

Cashier’s checks are typically deducted from your account immediately upon issuance, as the bank guarantees the funds upfront. Understanding the Immediate Impact on Your Account Balance A cashier’s check is often viewed as a safer, more reliable payment method than personal checks. But the question many people ask is: Do Cashier’s Checks Come Out Of

Most banks perform a soft credit check, not a hard inquiry, when opening a checking or savings account. Understanding Credit Checks in Banking Opening a bank account might seem straightforward—fill out some forms, provide ID, and voilà! But behind the scenes, banks often perform credit checks as part of their due diligence. This is especially

Banks typically do not check your credit report when you open a standard savings account. Understanding the Relationship Between Credit Checks and Savings Accounts Opening a savings account is often one of the simplest banking transactions. Unlike loans or credit cards, savings accounts are designed for depositing money, earning interest, and managing funds safely. Because

Banks typically do not check your credit score to open a basic checking or savings account, but they may perform a background check for account eligibility. Understanding the Basics: Credit Scores and Bank Accounts Opening a bank account is one of the first financial steps many people take. Whether it’s a checking account for everyday

Banks often perform a soft credit or ChexSystems check when opening a checking account, but not a full hard credit inquiry. Understanding Bank Account Credit Checks Opening a checking account might seem straightforward, but there’s often confusion about whether banks check your credit. The short answer is yes—but it’s not the same as applying for

Yes, banks often review credit reports when opening new accounts to assess risk and verify identity. Why Banks Review Credit Reports When Opening Accounts Banks are in the business of managing risk. Opening a new account—whether it’s a checking account, savings account, or credit card—means the bank takes on some level of financial responsibility. To

Banks generally do not cash personal checks for non-account holders due to fraud risks and policy restrictions. Understanding Bank Policies on Cashing Personal Checks Without an Account Banks operate under strict regulations designed to protect both themselves and their customers from fraud and financial loss. One common question is whether banks will cash personal checks

The Australian Taxation Office (ATO) can and does access bank account information to ensure tax compliance and detect fraud. How the ATO Uses Bank Account Information The Australian Taxation Office (ATO) has broad powers to collect financial data, including bank account details, to verify taxpayers’ income and transactions. This capability helps the ATO detect undeclared