Category Archives: Banking

Money Market Accounts

Okay, I have to admit that I am a savings dork. While I am quite willing to place my long term investments like retirement funds in riskier stock funds (balanced with bonds… of course), I am nervous about putting my shorter term savings accounts in them. Currently I utilize a standard savings account and CDs for my short term investments, although my customer service rep at my bank keeps subtly hinting I may be throwing some money away in this choice. The talk of the town for saving these days seems to be money market accounts. Therefore, my thought was … Continue reading →

How to Choose a Good Bank

Your money is a treasure. Deciding where to keep it can be a tough decision. These days there are a wide range of options – all better than keeping your money stashed under your mattress! Usually a larger well-known bank is the safest choice; although they are also less likely to offer you quality customer service. Many recommend instead choosing a smaller local bank with a high rating to get the best of both worlds. How to determine a highly rated bank? First ensure they are part of the FDIC, also known as the Federal Deposit Insurance Corporation. This institution … Continue reading →

Stopping Payment on a Check

You may be in a situation when you need to place a stop payment on a check that you have written. There are a few legitimate reasons why you may decide to place a stop payment: a lost or stolen check or failure to provide goods or services as promised. It is fairly easy to stop payment on a check, but you need to act promptly. If the bank has already processed the check, then you do not have any recourse. To stop payment on a check you will need to go to your local branch and fill out the … Continue reading →

Do You Read the Fine Print?

Have you opened a new account at the bank lately? Did you receive a pamphlet explaining the rules and terms of your account? Or have you recently received a new pamphlet in one of your statements from your credit card or checking account? Did you read it or did you just file it away or toss it in the garbage? It really is important to read the fine print when it comes to bank accounts and loans. Banks are businesses that are out to make a profit. They do this in many different ways, which include earning interest on your … Continue reading →

I Made a Deposit! Why Can’t I Access My Money?

Have you ever wondered why you can’t access the money in your account? You made a deposit the day before, so you should be able to access the money right? Not necessarily, most banks still operate on banking hours and days. Banks will have the tellers and ATM machines switch to the next business day usually sometime between 1:00 p.m. and 2:00 p.m. Your teller should post a sign that says next business day somewhere in her window. Banks switch over to the next day because all the work that they receive (deposits, checks cashed, withdrawals made) needs to be … Continue reading →

Have You Been Reported to ChexSystems?

If you have made some mistakes in your past and have been reported to Chexsystems or Telescan, you may have difficulty opening up a new checking account. Generally a bank will not report you to either of these services unless they have closed down your account because you were overdrawn for a long period of time. The systems are set up to protect the banks from opening up accounts that will end up overdrawn and in the negative. These accounts do end up costing the banks money. If you have been reported to these systems and you want to open … Continue reading →

Choosing the Right Bank for You

If you are new to the area or opening your first checking account, you should do some research. Different banks offer different accounts. It is important to look for hidden fees (they really do exist) and other benefits that the accounts can offer you. You should also take into account convenience of locations and/or ATMs as this may affect your choice depending on your account. Here are five steps to making the right choice for a checking account for you. 1) First you need to go online or go to the different banks and credit unions that you are considering … Continue reading →

What to Do When Your Checkbook Is Stolen

I know someone who left her purse in the car, while she went in to an aerobics class at her gym. She came out an hour and a half later to find that her car had been broken into, and her purse stolen. She had the checkbook and her credit cards in the purse. She immediately called and began the process of reporting the incident to the police, and to her bank. She later found out that in that 90 minutes they had managed to spend thousands of dollars. It seems this theft was completed by a group who split … Continue reading →

Let Your Bank Work for You

There are times when you can let the bank work for you. It may be difficult to find time to run to the bank, or you may be worried about remembering to send in a check on time. The bank does have options that will benefit you and help you to meet your obligations. 1) Direct deposit is a great tool that can help to eliminate extra trips to the bank. Technically this does need to be offered by your employer, but many banks offer incentives when you have your paycheck direct deposited. Some of the incentives include a free … Continue reading →