Your Questions About Business Online Banking
Sandra asks…
How long do i have to wait for a cheque to clear in my halifax account?
Hi, i got a cheque on saturday and only paid it in halifax this morning into my savings account i wasn’t told when the cheque will clear i’ve looked on my online banking can’t see it on there would it tell you when it will clear on my online banking account? or does anyone know when the cheque will clear? please help!
Jere answers:
Typically 3 – 5 business days. So no sooner than the latter part of this week.
Susan asks…
What is the difference between “balance” and “available balance”?
I’m using the Prosperity Bank online banking.
It shows my balance, but is shows the available balance as having $300 less than the balance.
I haven’t made any recent large transactions, and all of the transactions that I have made (I keep up with all of them) are documented on the website, so I don’t know why it shows the available balance as $300 less?
Jere answers:
Your “balance” is the balance at the end of the most recent business day, but the available balance reflects what is available to you after pending holds or authorizations for purchases, such as on a debit card.
A transaction can be documented on the website but may not have yet posted to your account.
Another possibility is that one or more checks you may have deposited is being held for collection.
Your available balance is the one you should go by, with one exception. This probably does not apply to you, since your available balance is $300 less than your “balance.” But, some banks offer overdraft protection and include the amount they allow you to overdraw your account in the “available” balance.
Ruth asks…
How long does it take a check to be processed after the receiving party deposits it?
I wrote a check, and they deposited it the same day. When should it appear in my online banking?
Jere answers:
Did they deposit it in the same bank?
Then it could take as little as a day.
Did they deposit it out of state?
It could take 5 business days
Did they deposit it in the same area?
It could take about 2 or 3 days…
Donald asks…
How does the Boss get to be “the Boss” without basic skills?
I’ve known a few executives in my day. They are usually more mature in age than the average age of the company. They also have a certain manner about them.
When I got out of college I had to be very proficient in various software tools as well as functional as writer. One of my CEO bosses didn’t even know how to use MS Word! If we wanted something done, he’d just ask someone who knew how to do it. His receptionist would bring him coffee everyday, but I doubt he knew how to turn on the computer, let alone do online banking or simple network troubleshooting.
How can you be the CEO of a company, and yet not have any of the basic skills of the staff working the company your run.
I’ve noticed many VPs, CEOs, and other executives are better at “smoozing” with clients and making high level presentations than they are at doing any “technical” stuff. How can you lead an organization and not possess at least the technical ability of the “average Joe” of your staff?
Jere answers:
There’s a different set of skills required at that level. It’s not necessary to be able to program a computer to be able to run a business that happens to have some programmers. (The person managing the programmers, however, should have at least basic programming skills so he understands the work they’re doing.)
The executives have to manage long-term planning, leadership development, personnel advancement, investment of capital, and interaction with high-level clients/investors. These are important functions that you don’t want to have to do, and they don’t require the skills of the people doing the basic functions of the business.
As for the inability to use Word, that’s not uncommon in people who came up in businesses that didn’t use it (fairly common 20 years ago, actually). If he never held a position that needed that skill, he never had to learn it. Now, at his current level, he has the ability to delegate to someone who has that skill, so he can focus on what’s important.
In essence, high-level management requires a different set of “basic skills” than your job.
Linda asks…
How does the Boss get to be “the Boss” without basic skills?
I’ve known a few executives in my day. They are usually more mature in age than the average age of the company. They also have a certain manner about them.
When I got out of college I had to be very proficient in various software tools as well as functional as writer. One of my CEO bosses didn’t even know how to use MS Word! If we wanted something done, he’d just ask someone who knew how to do it. His receptionist would bring him coffee everyday, but I doubt he knew how to turn on the computer, let alone do online banking or simple network troubleshooting.
How can you be the CEO of a company, and yet not have any of the basic skills of the staff working the company your run.
I’ve noticed many VPs, CEOs, and other executives are better at “smoozing” with clients and making high level presentations than they are at doing any “technical” stuff. How can you lead an organization and not possess at least the technical ability of the “average Joe” of your staff?
Jere answers:
I bet that guy could run circles around you with a slide rule.
CEO’s learn to manage change, not master it.
The skill sets you need to advance in business today are different than yesterday’s, and tomorrow’s will be different yet again. What you need is the ability to know what works best now, and how to access it.
The specifics of profit may change, but the underlying premise remains the same. That’s where experience comes in, and a cognition of how it happened last time. That’s why old guys remain prominent in industries that are technically light years beyond them.
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