Personal Finance and Money Stack Exchange
Personal Finance and Money Stack Exchange

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1500 questions
19
votes
7 answers

What's the purpose of PayPal?

When purchasing through PayPal it draws funds from my linked bank account in the amount of purchase price and applies it as payment to the merchant. This is exactly what my debit card does, so what do I need PayPal for?
sideshowbob
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19
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5 answers

Why are wire transfers not reversible by the bank?

ACH payments and credit card payments are both forms of electronic payments. Because of this, reversing a payment is usually as straight forward as calling your bank. However, this does not seem to be the case with wire transfers. At the end of the…
AlanSTACK
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18 answers

How do people with multiple credit cards keep track of their due dates and not miss payments?

I never spend more than I have and always intend to pay the full balance on my credit card statements. Because the due date changes and because they are different for each card, I sometimes forget and get charged interest. I would like to avoid this…
Griftoni
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19
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3 answers

Do I have to pay short-term capital gains tax on crypto currency if I only withdraw the principal and not the profits?

Say that I bought $5000 USD worth of Bitcoin, and a month later its value grows to $6000 USD. Now, if I were to withdraw only my $5000 USD principal worth of bitcoin, while keeping $1000 USD worth of bitcoin for further investments, am I subject to…
John Doe
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19
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3 answers

What is crypto deleveraging?

This excerpt says: Multiple crypto company failures shouldn’t be surprising given huge price declines among tokens, and entities that used higher leverage in the past are the most vulnerable, strategists including Nikolaos Panigirtzoglou wrote in a…
user3156459
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19
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2 answers

Can a bank make overdraft protection mandatory?

Recently I spoke with a bank about opening an account. As usual, overdraft protection was mentioned. The banker informed me that the account has overdraft protection and it cannot be disabled. When I asked the banker to clarify, they informed me…
Jessica
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19
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5 answers

How do you empty an online virtual debit card?

I have an online virtual debit card which was provided from a company as a refund. To all intents and purposes, this is indistinguishable from a physical card but I've yet to find anywhere online where I can use for part payment so how to you spend…
Monika
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19
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2 answers

What's the point of the wash rule?

I don't understand the 30-day wash-rule. Someone please set me straight. So let's say I purchase 100 shares of Hot Stock X, for $100 apiece. So $10,000. Let's say that the stock goes down 50% on a really bad day in the market. Let's say furthermore…
CodeOwl
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19
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3 answers

What is happening every time I pay my credit card? Am I 'settling' with my bank, the credit card company, or another entity?

I understand that credit cards extend credit to customers. And that purchases incurred before the credit balance is due are nothing more than IOUs to the bank issuing the card (and also the card provider?). But what is actually happening every time…
StatsScared
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19
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4 answers

How Is There A Yield Curve For Treasuries?

Why would anyone buy a 1 yr T-Bill with a return of 1.25% when you get double that on a 30-year T-Bond? Where is the risk and/or liquidity premium coming from? There's a highly liquid, secondary market where you can exit a position at any time,…
EricP
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19
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3 answers

Would depositing large cash amounts cause problems?

I saw an article recently where a man withdrew $600,000 USD in cash from his bank. I'm sure many folks here would advise against this move for obvious (and perhaps not-so-obvious) reasons. My question: suppose you did this and then, some months…
Fixee
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19
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6 answers

What are the tax implications of being paid for work in company shares?

I completed a project for a private limited company. They want to pay me in company shares worth £100K (as it is stated in our contract). I am trying to figure out what tax implications would I face and what is the solution to pay as little tax as…
Mert
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19
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3 answers

Why would long-term investor care about volatility?

I'm 35 and I want to start investing for my retirement. My question is, why would you care about volatility if your investment horizon is 30+ years? In order to get a more clear picture of volatility risk, I gathered some data in Python and computed…
Mark
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19
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9 answers

If you have insurance of some kind, and you are in an accident, does that mean that they increase your monthly fee?

I've always been confused by things like this: Joe has his car stolen or drives it into a wall by accident, or some other kind of accident happens which "goes on the insurance". Joe gets money from his insurance company. Joe says: "Nah! No big…
B. Corpening
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3 answers

Am I comparing take-home pay correctly?

I have two offers in the US at the moment. One at 153k and one at 175k. Single filer. annual gross fed tax retained % take-home income $153,000 0.24 0.76 $116,280 $175,000 0.32 0.68 $119,000 While there is 22k difference "on paper", it…
Ivan Ivanov
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