Banking - One Cent At A Time

What To Do With a Frozen Bank Account

May 23, 2018 1 Comment

A few years ago I had my bank account frozen. I had no clue about the reason. Later I found out that it was due to my wife’s missing social security number, which she didn’t have being a non-residant with a dependent work visa.

what to do with frozen bank accounts

We had to give an affidavit of that fact to unlock the account. And it took more than a week to unlock the account. One my credit card auto payment was declined and I was assessed a late fee. I got the fee waived anyway, but that forced me to open other checking accounts.

Is Online Banking Safe?

June 14, 2016 15 Comments

When I received this guest post, I was wondering, was it going to add any value to my readers? Then I read the post and found out that only 46% of internet users use online banking. There must be a reason half of them don’t use online banking. To me, online banking is a boon I never bank at local branches, I can do everything sitting on my couch using bank’s website or app.

In today’s digital world, everything seems to be done online. From talking to friends and family via video chat to shopping and everything in between, the Internet is completely eliminating the middlemen, including bank tellers in traditional bank branches around the world. Nearly every bank today offers online banking options that allow their customers to manage every aspect of their checking, savings, or investment accounts as well as perform a number of convenient functions through an online banking portal.

The majority of today’s banking customers now utilize online banking to review their accounts, transfer funds, make payments , and perform a host of other useful functions. In fact, according to MSN Money, more than 46 percent of Internet users in the U.S. utilize online banking. Unfortunately, like anything else in the virtual online landscape, there are pros and cons to online banking.

Top 5 Sites to Order Online Bank Checks To Save Money

April 13, 2016 2 Comments

I don’t use bank checks very often, I’d prefer e-check facility most banks provide today. Where in you can send payment via email ID, phone number or simply by name and address. But there are often times when you need to write a paper check. When I last ordered paper checks it cost me around $40 for 50 leaves. This time, I did my research and obtained 200 leaves for only $12 from Bradford Exchange Checks.

Based on this experience my advice to you would be to go for cheaper online check ordering sites, rather than ordering them directly from your bank. It’s secure, convenient and cheap. While ordering I did my research on the sites that offer check order service. Here I’ll list of 5 tops sites to order checks from.

Pre-considerations

Different factors need to be considered when you plan on ordering checks online. You would definitely be considering the price, the delivery options, the security. Here are some factors that you can use as a guideline when choosing the company to order check from:

What is Investment Banking?

October 11, 2015 2 Comments

Investment banking is a specific division of banking that relates to creating capital for companies. Many investment banks do not take deposits as commercial banks do. The three main areas of investment banking are sales and trading, asset management and investment banking.

The largest investment banks offer all three services, but there are smaller firms that focus on just the investment banking area. Most investment banks spread investments and securities management in several regions of the globe to ensure a wide coverage of multiple financial markets.

An investment bank will underwrite equity securities and debt for many different types of businesses. Experienced investment bankers will provide guidance and advice to issuers about the placement and issue of stock.

Taking Care of your Checking Account

August 21, 2013 8 Comments

One fine day you may wake up and discover all your bill pays are not just going through, the schedule transfers to your other investment accounts failing, or your systematic investment plans are failing.

You call up your bank and find an answer, a reason code ’16’ which is nothing but ‘account frozen’ status. There is no immediate way to recover from this set back, there is no way to not become delinquent on your credit card bills and utility bills. It is deadly situation, handle with care and take prompt action, without wasting time.

How Businesses and Individuals can Save on Checks

June 21, 2013 3 Comments

I rarely use checks, mainly because they cost money. I rather started sing free electronic payee checks. I sue checks to send monthly rental. Apart from that occasional expenses are paid through checks. Sometimes when we eat out or travel together and someone pays on everyone’s behalf, I return my share by writing a check to the payer.

This is an article geared towards saving money on ordering checks and things to take care of before you order checks for your business. Are we still using paper checks only because “we have been doing it this way for years and it works for us”?

Ways to Save Money From Your Home Loan

February 20, 2013 Leave a Comment

The following article contains financial advice that might not be suitable for US audience. as Saving account rates in US is too low to consider it as an investment option. This article is more suitable to countries where savings bank rate is much higher than in US.

From time to time, most of us will need to take out a home loan. This may be in order to cover an unexpected expense or to finance a more planned project. The overall cost of these products can be high, as they will generally include an arrangement fee and monthly interest charges. However, it is possible for a shrewd borrower to minimize these costs by using a variety of money saving techniques. For example, in order to offset some of their costs, borrowers can invest a proportion of their loan in a high interest savings account.

Benefits of Opening a Joint Bank Account

March 3, 2012 Leave a Comment

After my posts on having a second checking account and steps to switch your bank account, here’s the another one. This one emphasizes on the importance of having a joint checking account. Having a common checking account works for us. It may also work for you, this article can provide you food for thought when it comes to managing your separate checking accounts within your family.

Here, at this blog, we grow One Cent at a Time, this tip is not going to make you rich overnight but, it may help you protect your finances and become more efficient in managing it.

The Problem With Chasing Banking Rates

December 26, 2011 13 Comments

This is a guest post from Martin of Studenomics. Martin loves to write about financial issues on helping you find out what is a good credit score and more fun topics like deciding what to do after college.

For the longest time I was hesitant to join ING Direct. The interest rates were pretty decent a few years, but I simply felt a sense of loyalty towards my local bank that wouldn’t let me leave them. The employees at the local bank knew me on a first name basis. Some of the employees at the bank were even high school friends of mine. If any issues ever came up, I could walk over to the bank in 5 minutes and have everything resolved. Long story short, I’ve never been good at chasing the highest interest rates.

This is why I decided to keep my brick-and-mortar account even after I joined ING Direct.

9 Steps To Switch Your Bank Account

October 19, 2011 23 Comments

Tired of paying fees for using your debit card or withdrawing money from the ATM? I am, and I switched my checking account. In the process of switching, I learned few valuable lessons that might help you.

If you intend to switch, start the process soon. You should not be paying any fee to your bank – by keeping the money in the bank, you are entitling it to loan your money and earn interest. A bank should not ask customers to pay for basic services. There are various banks that offer interest on your checking account balance.

Changing your longtime checking account is by no means a small deal or a 15-minute job, as various other people suggest (including one of my blogging idols). If you are dissatisfied with your bank and want to switch, you might want to follow the steps below.

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Pre-considerations

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