Category Archives: Banking

Tips on Getting the Most Out of Checking Account

Person holding pen in a hand for signing a Check

Checking account tips

While many of the checking account features are known to use. And most of the Americans owning checking accounts won’t be willing of taking the benefits of most of the common features of checking account. Here are certain tips, which will help you in not only managing your money but will also  offers with its key benefits for getting the most out of your checking account.

Checking account tips:

  • There are many ways of getting most out of your checking account and one of the easiest ways is by setting up the feature of direct deposit. It is among the fastest and the safest way of depositing money directly into your account.
  • Make the use of online banking or sign up from your mobile phone directly. Majority of the Americans make the use of online banking. Enrolling online banking helps to allow keeping an intact eye on your account. It also helps in simply knowing the history of transactions, logging in and also a watch on your balances.
  • Whereas, on the other hand it is mobile banking that helps in performing the similar functions but via tablet or mobile. In addition to that, by online banking you can simply tract the access over your orders, checks, transaction, balance info, transfer money, travel flags and access to your accounts almost from anywhere in the world.
  • Make the use of your debit card. With the help of debit card of your checking account you can easily access over account accurately and even more conveniently. You can easily use the debit card over millions of locations worldwide. Even, you can make the use of debit cards at ATMs for depositing, withdrawing or taking the cash off from your checking account.
  • Even, debit cards helps in offering suitable safety and security, if your card gets stolen or lost from any fraudulent purchase. If you’ve enrolled for the option of online banking, you can easily set up an alert for notifying yourself via any message or email about certain specific activities.
  • Say for example: you can easily set up the balance inquiry feature for your alert message. As soon as any transaction taking place, it shows up in your mails via an email or message about the transaction and the amount stating the same.
  • Don’t forget to make sure that your bank consists for current mobile number and the email address too. It’s even easy to manage two accounts at a time. Moving money between two accounts among the benefits of using checking account. If you’re saving account and checking account is in the similar bank, it is fairly way easier to transfer the money as well.
  • But it might not be the similar case in checking account. In checking account you just need to set up an alert for automation of transfer of money from your saving account to your checking account and the rest of the work is of the bank. You’ll available with an alert message that the transaction of transfer took place.

Types of Bank Accounts

Types of bank accountsMost of us have do banking and have basic checking or savings account. They are the most standard accounts. But apart from them there is still much kind of accounts which you might be unaware of. Banks and credit union offers variety of other accounts. Check out for your options and see which one fits you the best.  Check out the types of accounts, match up with your needs and finalize the one from which you get benefited the most.

  • Money market accounts

Almost every bank and financial institution provides a kind of interest bearing account which allows you to write checks which is known as money market account. Money market accounts generally bears higher rate of interest as compared to a checking account or bearing account. Money market accounts are such which needs a superior minimum balance to initiate earning interest. But being high balance, you also high interest. It’s right that you get high amount of interest but on other hand if we talk about withdrawal of funds from money market account then it would be not as easy as of checking or savings account. You are only allowed six times transfers from your money market account and among them only three times you are allowed to do transfer by a check. Most of the banks and financial institution charges fees on money market accounts.

  • Certificate of deposit

Certificate of deposit is also known as time deposit or CD. They are also included in the types of accounts which are usually offered. Time deposits are for a particular period of time and it is fixed. The rate of interest given on time deposits is also fixed depending upon the time period. Time deposit allows you to have an option of choosing the time period for which you want to keep your money into deposit. This time period can vary from certain days to years. Once you decide the time period your money will be into certificate of deposit for that time period and you cannot withdraw it. There are some banks who allow withdrawing the interest but you cannot take your principal until the date of maturity. As you are allowing leaving your funds for a definite period of time, banks pay higher amount of interest as compared to savings and checking account. Banks also allow withdrawing your money before maturity but for this they charge penalty from you.

  • Basic or no frill banking account

There are many banks or institutions which offers account for low price and certain limited range of services. Basic accounts are one which offers you with a comfortable way of paying off the bills and cash checks. They are like usual checking account with certain limits on the number of deposits to make and number of withdrawals you can make per month. Generally basic accounts do not possess any interest. You can compare the basic account and checking account and which one offer you good deal with low balance opening and o need of keeping minimum balance in the account.

 

Tips to Protect Yourself from Credit Card Scam

Credit Card ScamCredit card facility is very much in demand now days since much of the transactions are no longer done in cash. The fraud done with the credits cards is very much prevalent now days. It is not at all a safe option to trust the restaurants and shopping malls. You must take the necessary precautions before you actually give your financial information especially your credit card number. Here are some very helpful tips that you must follow and it will definitely help you to protect yourself from credit card scam.

a) You must keep a strict eye on your credit card when you are personally transacting with it. Take it back as soon as possible and make sure that you have a watch on it because copying the various details on your credit card does not need much time.
b) You must be sure of the person whom you are giving your credit card. Make sure that the institution that you are dealing with is a reputable one. Reliable companies do not call up their clients and ask for card numbers over the phone.
c) You should never respond to emails that ask for your credit card details for verification purposes as they mention.
d) You must always check that the website where you are providing your card information is a reliable one or not,
e) You must sign your card as soon as you receive it.
f) You must also check your bills as soon as you get them to make sure that there are no overcharges done. You must match your bills and your account to make the balance between the two. This helps you to save a lot of your money from being deducted unnecessarily.
g) You must keep your PIN number just to yourself. This can protect you in case your card gets stolen.

Tips to follow while using an ATM

When it comes to the use of ATM you need to be quite careful in this connection. You need to make it sure that you have all the directions and instructions at your disposal. It is pretty important for you.

Be careful about card insertion techniques– Be careful about card insertion techniques. It is pretty important on your part to do so in the precise and exact fashion. There are different insertion techniques at different ATMs. You need to be careful as well as aware of those techniques. In case you find some difficulties while inserting the card ask for the help of the security guard over there.

You must not let the card stay inside the machine for a long time– In this regard you have to remain cautious about one particular thing very precisely. You must not let the card stay inside the machine for a long time. It is pretty imperative on your part to ensure that. If it stays inside for a long time then the card might get stuck over there. You might have to do a little bit of hard work to get it out. You have to report to the bank authorities if it happens.

Do not let another entity peep at the password– Do not let another entity peep at the password. It is a must. At the same time you must not let other take a look at the other essential such as the identification number. You have to ensure it at any cost.

If you make it a point that you are going to keep an eye on these aspects you will have a pretty good experience. So keep them in mind specifically. Have a great experience while using the ATM. Best of wishes!

Precaution taken while opening online bank account

online bank accountOnline banking consents customers to conduct financial transactions through internet. Online banking is fast gaining popularity because of its easy and anytime accessibility of bank transactions. So if banking has become so hassle free opening an online bank account is too at your fingers tip. It is convenient and time saving. But before having an online bank account we have to know the efficacy of it. Paying bills, checking balances and transfer funds online are some of the benefits of online bank account.

Maintaining an online bank account is easy, quick and safe but certain precautions need to be taken while opening an online bank account:

Firstly, we should visit our respective official internet banking site directly and should not access a site through any link.
Secondly, we should never answer e-mails asking for our internet banking password or our PIN. If such situation arises inform the bank and try to investigate about it.

Thirdly, we should never use cyber cafes or shared PC’s to access our bank account.

Fourthly, we should try to protect our computer by installing anti-virus software to protect it from virus attacks. If possible we could also install security programs to safeguard it from hackers.
Fifthly, we should never share our password with anyone and if possible we should store the ID or PIN in a safe and secure place.
Sixthly, we should have a regular check on the history of our bank transaction and should log off the computer when not in use.
Seventhly, we should try to disable the file and printing sharing feature from our operating system.

So if the above advises are followed maintaining an online bank account is a bliss for you as it relieves you from running to the bank every time and standing in the queue for money transactions.

Opening a bank account easily

Opening a bank accountIn the most developed of countries like the States too, not all teenage citizens have a bank account. Therefore it is not a very surprising thing if there are many citizens from other countries too who do not have a bank account. In today’s time having a bank account is quite important to put in your personal savings and be on your own rather than being dependent on someone else. Following a few simple steps will allow a hassle free bank account opening regime.

The number one thing to consider before opting for your very own bank account is which bank to deposit your money in. Things to look out for in a bank are which one has a branch nearest to your house so that in the future if there is any problem you don’t have to travel long distances to get something done. The reputation of the bank is a very important aspect but not the only thing worth considering. Also the facilities which the bank provides like the overdraft the interest rates are very important and should be compared with the other banks before going for one.

The aspect number two before opening an account of your own will be the kind of account you want to open. There are many kinds of accounts which the bank offers according to the individual needs of a person. A student’s bank account requirements may not be the same as the person who is running a shop and vice versa. It would be advisable if you take some time out and have a proper discussion with the bank agents before taking a decision.

After this just the application needs to be filled carefully where the terms and conditions will be written which need to be carefully read understood and agreed upon.

Easy ways to open a bank account

bank accountIt is sad but the fact that even in developed countries like the United States; most of the college goers do not have a bank account because they are not sure whether they can undergo a hassle free process of opening a bank account successfully. Now you can think about the condition of the developing countries. Actually following some basic tips will allow you to open a bank account without any harassment.

The first and foremost thing that you need to do to open a bank account is to choose your bank. You should not choose your bank according to any person’s personal selfish reasons who want to patronize the bank. Other notable facts before choosing a bank are the distance of the branch from your house or office, the offers and interests that the bank is providing and also the reputation that the bank holds.

Choosing the account type is the second step to be followed by you. The requirements that you have will select the account type that you wish to open. The officers present at the bank will be able to explain you the various types of accounts available and you can choose accordingly. Make a clear note of the terms and conditions provided by the bank and only then can you carry on.

The next step will ask you to fill the application form that the bank officer provides. Be careful and fill up all the blanks in the form so that no future trouble is created. Account opening application forms can also be filled online if the bank provides that facility. And finally after the application is approved, the only work remained is to deposit the money that the account demands for. Having a bank account is the best option for all to keep your money safe and even receive some extra out of it.

Safety tips for online banking

online bankingOwing to the wide popularity of internet in the recent time, the online banking has become much popular these days. You can pursue all your necessary banking sitting at your home or office over the internet. But then you must adopt certain safety measures while doing online banking. You must have heard about many cases of forgery and hacking in the online banking platform these days.

Always keep your user id and password for online banking confidential. Never tell them to any one irrespective of the fact how trustworthy he is. Don’t write down the details anywhere and try to keep it in your mind. Reset your password every week to ensure ultimate safety. Never set your password in such a way so that it has resemblance with your other details.

Don’t just log in for online banking from random computers specially those in cyber café. Try to use your personal computer, laptops and tabs for the purpose. This will lower down the chances of hacking in to your account.

What is merchant banking?

merchant bankingFunding is a very important thing for all businesses, be it small or big. Now the question arises where this fund will come from. There are many banks which will provide you with the fund you need to start off your business. Merchant banks are one of those banks which provide fund for business purpose. But other than providing fund they provide many other services as well for the development and growth of the business.

Whenever you are in legal tussle, you can approach the merchant banks to get advice on what you should do and how you should approach to avert the problem. The merchant bank will provide you with all sorts of assistance you require.

They review your plan of business expansion or modification and suggest you the necessary changes you should make in your plan to make your business much more acceptable to the people. They provide you extra fund for the purpose of business expansion also so that you generate more revenue from your business.

Why is online banking is so popular these days?

Online Banking, bankingThe widespread use of internet has encompassed everything under it including purchasing, selling, learning and even banking. Online banking is highly popular these days and for all the right reasons. The post below describes the many reasons behind the increasing preference for internet banking off late.

The most significant benefit of online banking is that here you would be able to conduct the entire banking process from your home only. There is no need to stand waiting in the long queues before bank counters for your turn. The entire process of internet banking is designed to save a great deal of time and energy. Online banking runs 24/7 and hence you won’t have to schedule your time as per the conventional bank hours, sacrificing on your professional obligations.

It’s good to inform that banking online enables you to perform almost all the banking jobs from your home’s comfort. These include money transfer, altering or getting account information, ordering credit cards, paying bills or even applying for loans.