Big Banks vs Small Banks

When you choose a bank you have a wide variety of banks and credit unions to choose from. You need to consider several factors when making your choices. It is important to realize that there is a difference in big banks and the small hometown banks. A big bank may be the right choice for you, or you may decide that you like the services provided by a small hometown bank instead. The main advantage to a big bank is that they have locations in many more places. This means that you will avoid ATM charges, because you can often … Continue reading →

Breaking the Overdraft Cycle

One vicious cycle, which is difficult to break, is the overdraft/overdrawn cycle that can occur once you have overdrawn your account. You may have made an adding error or overspent in a category, and the next thing you know, you have overdrawn your account. You will be hit with overdraft charges, which average about twenty-five dollars per item. Often it takes several days for the notification of this to reach you, and you may be continuing to spend, and racking up many more charges. This can form a vicious cycle, because it will affect the amount that you next have … Continue reading →

Overdrawn? Now What?

It can happen to anyone, suddenly you realize that you have overdrawn your checking account, and you are left wondering what to do. It can be a real shock to realize that you have overdrawn, but then the fees start piling up, and before you know it you are in a very deep hole. If you have overdrawn your account, and it is the first time you have done this, you should go to your bank and ask them to waive the charges. If you are polite about this, (meaning sickeningly sweet) you should be able to have the charges … Continue reading →

Banks Versus Credit Unions

People often wonder what the differences between banks and credit unions are. You can have similar accounts at both. The funds are both guaranteed up to $100,000. The biggest difference between a bank and a credit union is that banks are for-profit organization and credit unions are nonprofit institutions. This can be a real plus for anyone who has an account at a credit union. Many people consider using a credit union to finance a car or a home. The interest rates are generally lower, and the credit unions are more likely to work with you. The terms are easy … Continue reading →

Online Banking Basics

Online banking is an important feature to look for when deciding on opening a checking account. Online banking has changed the way that people handle money. It has helped people to better track their finances, save time and money. If you have not yet used the features of an online banking system, then let me explain them to you. The biggest advantage to banking online is that you have access to see the items, which have cleared your account. This helps you to see how much money you really have in your account, because you can subtract the items, which … Continue reading →

$25 Bonus for ING Orange Savings Accounts

People often ask me about ING orange savings accounts. They want to know how it works, if you really get a $25.00 bonus, and if it’s legitimate. With the advent of online banking, customers have more options than ever about where and how to bank. This has caused increased competition among banks, both online and traditional. As a result, many banks offer various bonuses and promotions in order to recruit or retain their customers. While most banks offer occasional promotions, ING has an ongoing $25.00 bonus for new customers who open accounts with an opening balance of at least $250.00. … Continue reading →

Saving on Banking Fees

Banking fees can take a sizeable chunk out of tight budgets. Save more of your money by eliminating some of these fees. The most obvious fees that you want to eliminate are those incurred for insufficient funds on account. Many banks charge $30.00 or more for every item that is returned. Most times overdraft charges are the result of mathematical errors, other times they come with careless spending. To save these fees be sure to record every transaction, including debit cards, in your check register immediately. If for some reason you are not able to do this immediately keep your … Continue reading →

Linking Checking and Savings Accounts

Linking checking and savings accounts is a trend that many people are finding advantageous these days. Sometimes banks will have better programs for a customer is he or she has both checking and savings accounts with the institution. Sometimes the savings account interest is higher. Other times checking account fees are waived or checks are free. Credit unions are well known for this. It is standard with a credit union for a savings account to be required, with a minimum deposit of around one hundred dollars to open a checking account. Sometimes the minimum deposit is as low as twenty … Continue reading →

How to Live Without a Bank Account

Many people think not having a bank account would make things inconvenient. You couldn’t cash a paycheck, pay a bill, make large purchases, get a loan, rent a car, withdraw some cash when traveling or cash any checks your receive from people. However, it is still possible to have a life without a bank account. The national government conducted a study and found that thirteen percent of all American households don’t have checking accounts. However, for people comfortable with banks, they should stick with them. Living without a bank account is merely an alternative for some. Cash is one easy … Continue reading →

The Benefits of Banking Online

The World Wide Web has revolutionized the way we do virtually everything. The technological advances are particularly obvious when we consider the options now available for managing our finances. Consider the following examples: Direct Deposit Many of us enjoy the convenience of having paychecks and other disbursements deposited into our bank accounts electronically. No more racing to the bank during lunch hour; the funds are already on account. Debit Cards These cards combine the benefits of credit cards and paper checks. The plastic card looks like a credit card, but the amount of purchase is deducted directly from your checking … Continue reading →