bank account

Australia's #1 for Law
Join 150,000 Australians every month. Ask a question, respond to a question and better understand the law today!
FREE - Join Now
A bank account is a financial account maintained by a bank or other financial institution in which the financial transactions between the bank and a customer are recorded. Each financial institution sets the terms and conditions for each type of account it offers, which are classified in commonly understood types, such as deposit accounts, credit card accounts, current accounts, loan accounts or many other types of account. A customer may have more than one account. Once an account is opened, funds entrusted by the customer to the financial institution on deposit are recorded in the account designated by the customer. Funds can be withdrawn from loan accounts.
The financial transactions which have occurred on a bank account within a given period of time are reported to the customer on a bank statement, and the balance of the accounts of a customer at any point in time is their financial position with the institution.

View More On Wikipedia.org
Recent contents
  1. D

    QLD Separated for More than 5 Years - Ex Refusing Mediation?

    Hi, guys. TLDR - go to last paragraph... Here's a basic rundown of what's going on: 1. Ex left 5 years ago to be with the guy she was having an affair with, who then became her de facto. 2. Initially, she did not want the kids and then decided on a 3/7 shared custody basis, and, once she...
    • David Weekes
    • Thread
    • car child support counsellor credit card debt divorce dvo evidence forensic mediation police property settlement psychologist school separation sexual assault
    • Replies: 2
    • Forum: Family Law Forum
  2. B

    VIC GENERAL BANKING QUESTION

    What section of the Bank Act covers - In the matter of disputed transactions - should the card have been stopped? In the matter of overdrafts - with no overdraft agreement how can the accounts be overdrawn? Thank you
  3. F

    WA Friend Stole Money from My Bank Account - Press Charges?

    Hi, So just over 2 weeks ago, my friend stole money from my bank account. It was only 100 dollars, but I want them to be held accountable. I had gone out for the evening and my friend asked to hang out at my house. I said yes as my teenage son was home and I assumed they would hang out...
  4. O

    VIC Mother stole/acquired money I inherited

    I am not quite sure which area of law this falls under—family, property, criminal, wills and estates, or otherwise—so please point me in the right direction if I've posted this in the wrong place. I was one of six beneficiaries, in addition to my mother’s five siblings, to my late grandmother's...
    • Omnisphere
    • Thread
    • inheritance money property law theft tort law wills
    • Replies: 1
    • Forum: Family Law Forum
  5. B

    NSW New partner, joint bank account, ex wife?

    Hi, I have been with a new partner for about 3 years now, we are thinking of getting a joint sign bank account to deposit some savings in on a weekly or so basis, with the intention of saving. My ex has a track history of trying to get her hands on money and if there is a way, there is a...
  6. S

    VIC Scammed in Melbourne Through Gumtree - Help?

    Hi everyone, As I said, I got scammed. I bought a laptop Gumtree and paid by cash. I came to the guy's house to pay and got a laptop with super glue on it (They're noticeable, but I thought they were specks of dust). I bought the laptop back after two hours and asked for a refund. The scammer...
  7. M

    VIC Opinions on Contest a Will?

    My elderly mother has recently passed away. My father died years ago and an older sibling, who lived with them, became my mother's carer, as she had dementia...although died from cancer. Both my mother and father had the same will originally, leaving the deceased estate to each other, and if /...
  8. J

    NSW Question Regarding Pension Bank Account?

    I know this may seem silly. I know that when you go on an age pension, they want to know what money you have. How do you go about having everyday money like $20.000 in a bank account that you access all the time for clothes, bills, hair new pair of shoes, etc? Do they want to know if you draw...
  9. B

    ACT Spousal Maintenance - What am I Entitled to?

    I've been married 10years. I have 4 children between the ages of 4-10. I have been a stay at home mum for the last 10 years. I have been responsible for the care of the children, the domestic duties and finances. My husband earned the income. In November, we had an argument and he said we were...
    • Betty2783
    • Thread
    • child support child support agency school spousal maintenance
    • Replies: 3
    • Forum: Family Law Forum
  10. N

    NT How to Get DVO Removed or Reduced?

    Short Version: How do I get a DVO removed that I have against my partner as it is not needed and I was pressured into it by child services. Long Version: The DVO is a 2 year no-contact with myself and the two kids on it. I was pressured into it by child services with the threat of my children...
Top Bottom