One of the reasons we ask you to post code is because it's often easier to understand what your talking about than trying to decipher statements like this:
QUOTE
In the BankManager class, the parameters for each method contain the account number as a String in order to access the array in the list with that account number...
I can only guess at what you're trying to say here.
QUOTE
Yet, i don't know why it is that way and how to access an object at a specific spot if the index I need is a string. My array list is of type CommonAccount.
It would be helpful to know what the CommonAccount class is.
You're so confident that it's a "conceptual problem" that you don't post your code or even what kind of exception your getting. You are, however, wrong. It's almost certainly a problem with your code. If you tried Integer.parseInt( String s ) and got a NumberFormatException, then you didn't have a String value in there that could be converted to an integer. Set a break point before you run that method and check the value of the String your passing it. Does it have a space or some non-numerical character?
Frankly, I would not use an ArrayList in this situation, though. A Map (HashMap, TreeMap, etc.) is a much better data stricture if you've got unique keys like account numbers that map to values/objects.
Or, you could post some code snippets and I can stop guessing.