Your Questions About Independent Bank

by admin on January 23, 2012

Helen asks…

Independent bank what happenes if i use my debit card and credit my purchase?

Okay so I get paid on monday and its saturday if I credit my purchases on saturday will the purchases be deducted our of my account immediately or will I make it for monday. And lets say I only have 5 dollars in my account and I spend 15 will the transaction even be allowed if I credit the purchase?

admin answers:

If you only have $5 today and spend $15, either the debit card will be declined due to lack of funds, or the bank will let it go through, but charge you $39 or more for the privilege!

I would wait until Monday or only buy $5 worth of stuff.

William asks…

Should monetary policy be made by an independent central bank? Monetary policy has a lasting effect in Canad?

Should monetary policy be made by an independent central bank? Monetary policy has a lasting effect in Canada, but members of the Bank of Canada’s Governing Council are not held directly accountable to elected officials or to the public. The following questions address the costs and benefits of central bank independence.

2.1. Wilson is an economist who favours an independent central bank. He would likely emphasize which of the following arguments?

A. There is a negative correlation between central bank independence and inflation rates.

B. The public and elected officials should have a say in the conduct of monetary policy.

C. An independent central bank eliminates the short-run tradeoff between unemployment and inflation.

D. Direct accountability is the first priority of every government institution.

admin answers:

A-yes, highlights a positive effect of an independent central bank
B-no, that’s in support of a politically appointed bank
C-no, not true
D-no, supports a politically appointed bank

John asks…

Is there an independent bank that has branches in both Austin and Houston?

….or at least a subsidiary.
i plan to ditch my big bank and do my biz/personal checking/banking locally.
but i live in both cities.
free checking is nice too.
thanks and peace

admin answers:

Try E bank. They are great

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