No Bank Fee Banks – 7 Tips For Finding the Right One

Jul 11 2020 Published by under Uncategorized

Among these common bank grievances, the one that can hit you most directly in the wallet is the fees. Among these fees, overdraft fees are the most hazardous to your financial health. After all, banks collectively bring in over $25 billion per year in overdraft fees alone. If you are looking to switch in order to find no-bank-fee banks, here are 7 tips for finding the right one:

1. Develop a list of candidate no-overdraft-fee institutions: Start your quest for the perfect bank by creating a list of at least 4-5 candidates. Start your list either in a spreadsheet program or on paper.

2. Make sure it is insured by the FDIC: The first thing you should check about each bank is whether they are FDIC-insured.

3. Ask about their ATM fee policy: You definitely want to choose a bank that has a zero-fee policy when using other banks’ ATMs.

4. Pay attention to the impression or vibe you get about the bank from their website: This one is subtle but oh-so-important. Just like people, banks have personalities. Choose a bank that makes you feel good.

5. Determine what other services they offer: Your needs may someday go well beyond checking and savings accounts. Make sure they can fulfill your future banking needs such as loans, as well.

6. Confirm that they offer no-overdraft-fee checking: To capitalize on people’s intense dislike of paying overdraft fees, some banks now offer no-overdraft-fee checking. They won’t charge you a fee – even if you overdraw your account.

7. Ask about their other fees: Be sure to get a full accounting of their other fees, such as check-writing fees, monthly service fees, etc. before signing up.

Spending 20 or 30 minutes finding the right bank can pay off for your hugely. Your research can translate to finding the ideal, no-bank-fee bank for you.

Comments are off for this post

Get To Know HSBC Online Banking Services

Jul 11 2020 Published by under Uncategorized

HSBC, known as the world’s local bank, is a global leader in banking and financial services. According to Forbes magazine, it is the second-largest banking and financial services group and second-largest public company in terms of composite measures as of 2011. It has approximately 7,500 offices in 87 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. HSBC is a universal bank that has four divisions or lines of services: private, commercial, investment and retail banking. It also offers a number of financial products such as credit/debit cards, loans, insurance and the like.

HSBC enables its clients to perform banking activities through its online banking. This service option allows the customer to do banking transaction online. These transactions include but not limited to bill payments, fund transfer, loan applications, viewing recent bank transactions and account administration. Online banking caters to clients with advanced technological preference and those that cannot make transactions during the regular banking hours. This gives them the opportunity to manage financial matters via the internet even during the wee hours of the morning right from their homes.

You simply have to have an account with HSBC to qualify for its internet banking. It is also recommended that you use an HSBC-supported browser for you to be able to use Personal Internet Banking and safeguard your account.

To register to this banking service, you may need to have your Social Security Number, your HSBC ATM, credit/debit card along with its PIN. If you don’t have either of these, your other account information such as your savings/checking account, mortgage, home equity and/or loan account information will do but it will take 5 days for the registration to be completed. This will help verify your identity in a secure manner and will allow you immediate access to internet banking.

A confirmation mail will be sent containing your temporary username and password to notify you of access. You will then be able to do personal internet banking the first time you access it but you will be prompted to change it to your preferred username and password. Likewise, you will be provided with a security key the first time you log on to the service.

Internet Banking is guaranteed fast and secured by HSBC. It has modified banking style for different kinds of clients by introducing internet banking and a lot more that this has to offer. Surely, all it takes is effort to log on to the internet and banking is at its best.

Comments are off for this post

Advantages of Internet Banking

Jul 11 2020 Published by under Uncategorized

Today, internet banking has become a popular method to manage one’s money and finances. When using internet banking accounts, more consumers now feel empowered to take control of their money. Internet banking, or banking by way of the Internet, offers numerous advantages for banks and consumers.

The following is a list of the advantages of internet banking:

Easy to Set-Up: It is easy and fast to set up an internet bank account. All that users have to do to create an online bank account is complete a short form and then set the security features such as a password and username. Finally, they just print and sign a form and send it in to the bank.

Fewer Costs: There are fewer costs associated with internet banking because online banks do not have the overhead like traditional banks. Because there are fewer costs, internet banks pass the savings on to consumers such as reduced service charges and increased interest rates for savings accounts. They can even offer reduced lending rates for their loans.

Easy and Convenient online Bank Comparison: It is easy to research many internet banks online allowing you to compare such features as interest rates, available credit cards and their interest rates, FDIC bank rating, and terms and interest rates of their loans. You can then pick the best internet bank that meets your needs.

Easy Bank Account Monitoring: You can track your internet banking and money 24 hours a day, 7 days a week. You can track such things as deposits, clearing of checks, and your account balance. It allows you to keep your account from going into the negative.

Maintain Accurate Financial Records: You can keep track of your financial records by using software programs such as Microsoft Money or Quicken. This will allow you to budget more efficiently and track your spending.

Bank Account Security: Along with bank internet security features, you have the ability to monitor you account any time which helps to detect any fraudulent activity. You will know immediately if someone has written a check or withdrew money from your account. You will then immediately be able to start resolving the problem before there is too much damage to your finances.

Convenient Banking Online: Traditional banking has always been slow. With online banking, you will no longer have to stand in long lines to obtain financial information about your account. As well, there is less paperwork and applying for loans is faster, easier, and more convenient. You can even transfer funds from one account to another in almost an instant and you can carry out such investment tasks as bond exchanges, stock trades and other investment activities.

Today, the internet has made many daily tasks much easier and more convenient. The economic and convenience advantages have now made internet banking a popular choice for millions of consumers. Internet banking gives consumers more control over their internet banking and money. No matter your location, or the time of day, with internet banking, your money is only a few clicks away.

Comments are off for this post

Private Banking Services Vs Retail Banking

Jul 11 2020 Published by under Uncategorized

Private banking is a much more personalized banking service given to individuals who invest substantial sums, typically over U$S1M. The most noticeable difference between retail and private banking services are that private clients receive customer service on a 1-1 basis via a relationship manager or a private banker. Wealthy individuals with private accounts can expect to meet their bank contact in person, and have direct phone access to a relationship manager. Usually the private banking arm of a bank is separate from the retail banking arm and the service is completely distinct.

A private bank is one that is not incorporated. Private banks are favoured by conservative investors because the directors are personally liable, and more likely to be cautious in managing client funds. Financial institutions like these are sometimes family owned and only cater to the very rich. One of the reasons why wealthy people choose them is their confidentiality – a pledge to maintain client records secret. For some it is a case of not wanting to be targeted by criminals, lawsuits or corrupt governments. Others use this secrecy to shield income from authorities like the IRS and evade tax.

Many of the world’s private banks are found in Switzerland because of the strict bank secrecy laws and sophistication of Swiss financial services. Small banks in countries like Switzerland are also more likely to keep their client records secret because they limit their operations to within the country’s bank secrecy laws.

Not only private banks offer private banking services – in fact some of the biggest providers of private banking and wealth management services like UBS, Credit Suisse and the Barclays are not privately owned. Private clients of these huge banks can take advantage of their in-house trading and research departments, and sometimes choose to have almost all their assets managed by the bank. This way they expect much higher returns than those given by a simple savings account or certificate of deposit.

Types of Private Banking Services

Usually only very affluent clients demand wealth management – where private bankers manage an investment portfolio for a family or an individual. The fee for this service varies from bank to bank and is charged yearly as a percentage of the total amount invested. The return of a portfolio will also depend on the standard of the private banking service. While some will provide excellent returns, others will continue to charge high fees while investing client funds in the bank’s own investment funds, regardless of whether or not this is beneficial to the client.

A popular alternative to wealth management is Self-Directed private banking, where the client manages his own portfolio, at times calling on advice from the bank. The advantages of this type of account are lower fees and greater personal control.

Inheritance and tax planning are extra private banking services provided either directly or by referral for an extra fee.

Comments are off for this post

Telephone Banking And Its Popularity

Jul 11 2020 Published by under Uncategorized

Banks as well as other kinds of financial institutions provide telephone banking. It allows customers to perform different kinds of financial transactions on phone without necessarily going to the bank physically or going to the ATM. For this kind of banking, customers enjoy longer opening times and there are actually institutions that make the service available 24 hours every day. There are restrictions regarding the accounts accessed through this method and amount limits that one can transact.

There are various transactions that customers can access using the telephone banking. They include the obtaining of the balance in the account as well as a short list of transactions that are carried out lately. Customers can get electronic bill payments as well as transfer of funds between one customer to the other. Documents and cash are never used in telephone banking and if this is needed, one has to go to the branch or use the ATM.

How does telephone banking help?

From the point of view of the bank, the telephone banking usually reduces the costs involved in handling various transactions by reduction of customer visit to the bank branch for withdrawals or deposit transactions that are non-cash.

How to access the telephone banking facility?

To be able to get into the telephone banking of a certain banking facility, you have to do a registration with the institution for that service. You may get a customer number and passwords to verify your identity whenever you want to use the service.

The customer calls a special phone number that the bank sets up and then goes through the authentication process before they can carry out any transactions. The service can be carried out using a live representative or through a system that is automated and one with the capacity to recognize voices.

Most of the institutions offer telephone numbers that the customers can call any day of the week, but at specified times to carry out their transactions with great ease regardless of where they are. The kind of access you get depends on whether you are a regular customer or a premium one.

In most cases, the phone numbers that are provided can be used to register for the service and access it. Most of the telephone banking providers offer customer support via email and contact can be made this way.

Telephone banking has made it easy for people to access the banking services without necessarily leaving their homes. This has brought a reprieve for people who are not in a position to go to the bank every now and then due to physical constraints. Yet others have to deal with busy schedules that cannot be altered. The most interesting thing is the fact that the setting up of this kind of banking takes only a few minutes. To make sure the application goes through, you should ensure that you are eligible for this kind of banking. You should be of legal age, offer identity proof and you should pass a credit check.

Comments are off for this post

Why Individuals Opt For Online Banking Services

Jul 11 2020 Published by under Uncategorized

Being financially stable is important for individuals. Of course, it is essential to have sufficient finances in case that you want to invest in items that can improve your lifestyle such as a house or a car. With this, more and more individuals save a part of their salary in banking institutions.

This is the most convenient way to secure your finances. However, going to banks can sometimes be very stressful. Fortunately, reputable banking institutions now provide an easier way to accomplish banking tasks with the help of online banking services. Listed below are some of the advantages of online banking.

Convenience

One of the best features of online banking is convenience. Rather than spending time going to banks, you can simply accomplish banking tasks right in your mobile phones or computers. The need to wait in lines when going to banking institutions is also eliminated. Not to mention, there is no need to spend money for fares or gas to go to banks. Hence, you can manage your time easily and efficiently.

Availability

When it comes to availability, individuals can make use of the mobile phones and laptops. During the past, individuals need to go to banking institutions in order to check their savings. With the use of online banking services, you can easily check your bank accounts with just some clicks of a button.

Safer and more secured

One of the dangers when going to financing institutions is the threat of theft or simply of losing your money. As a result, online banking institutions have reliable security services that offer a safer banking experience. To accomplish banking tasks safely, it is best to opt for online banking.

However, there are is still a threat with online banking. Therefore, you need to make sure that you make use of personal gadgets and ensure that you don’t share your password or login details to anybody when doing bank transactions to be sure that your personal information is safe and secured.

Enjoy amazing features

Most of the time, online banking is used to view or check your account. Luckily, financing institutions have added features in their online services. As of today, individuals can also pay their bills online. They can also transfer funds to other bank accounts easily. And, individuals can set up recurring bill payments. As a result, individuals can accomplish banking tasks easily and efficiently. Other banking tasks like ordering cheques can also be made online to help you get checks immediately.

With these features, individuals are rest assured that their banking needs are properly accommodated, which can help make their lifestyle better and more stable.

Comments are off for this post

The Best Investment Banking in Indonesia

Jul 11 2020 Published by under Uncategorized

Investment banking is a particular division of banking associated with the making of capital for governments, other enterprises, and entities. banks support in complex financial transactions.

Many extensive investments are subsidiaries of larger banking institutions, and the rest have turned into household names, such as Morgan Stanley (It was titled the Best Investment Bank in Asia for 2008 by Asiamoney magazine), Goldman Sachs, JPMorgan Chase, and Deutsche Bank.

Meanwhile, in Indonesia, we have Mandiri Sekuritas as the larger investment banking in Indonesia, DBSI, Citi, BNP Paribas, CIMB Securities and so on. bankers are experts that help governments, corporations, and other groups before moving forward, plan and manage their big projects, preserving their money and time by analyzing risks related to the project.

Particular Tasks of Investment Banking

Below are the particular tasks of Investment Banking.

Investment banks help in the sale of securities.

Facilitate mergers and acquisitions.

Underwrite equity securities and new debt for every type of enterprises.

Offer guidance for issuers concerning the issue and placement of stock.

Broker trades and reorganizations for both private investors and institutions.

Advice as to how much a company is worth and how best to structure an agreement, whether the client is considering an acquisition, merger, or sale.

Issuing of securities as a means of upraising money for the client groups.

Making the documentation for the Securities and Exchange Commission necessary for a company to go public.

Mandiri Sekuritas, The Largest Investment Banking in Indonesia

Mandiri Sekuritas has completed more than 35 advisory projects for different leading companies. The projects handled include PTPN 5, ASDP, Waskita Karya, PTPP, and Kawasan Berikat Nusantara.

With a reputation as a leading investment in Indonesia, Mandiri Sekuritas investment unit offers securities and financial underwriting service as follows:

Securities underwriting.

Financial Advisory.

Principal Investment.

The company also received several international and national awards, such as the Best in Indonesia for ten consecutive years from Global Finance, and Best Investment in Indonesia for three consecutive years from Finance Asia, etc.

Other Top Investment Banks in Indonesia

We can identify several tops amongst Investment in Indonesia based in Jakarta, as follows:

  • PT Bank DBS Indonesia in collaboration with DBS Vickers Securities Indonesia and DBS Bank. DBSI provides a broad range of banking services comprising corporate and consumer lending, wealth management, time deposits, trade finance, savings accounts, current accounts, foreign exchange services, and money market.

  • Citi has been active in Indonesia since 1968 and has an independent investment research and an equity sales team, also investment banking professionals, based in Jakarta.

  • BNP Paribas Securities Indonesia has been present in Indonesia since 1970 specializes in a full range of investment products, such as Equity Research & Capital Markets, Merger, and Acquisitions, Corporate Advisory Services.

  • PT CIMB Securities Indonesia was established in Indonesia since 1991 and has raised an outstanding franchise in institutional equities, especially in institutional sales, research, and trading.

Comments are off for this post

Banking Services, Fixed Deposits

Jul 11 2020 Published by under Uncategorized

Introduction of Internet in the banking operations has done a world of goods to the Indian banking segment. The same segment which earlier was known for being a lucrative job proposition (owing to its convenient timings and countless holidays) has suddenly transmuted into a dynamic sector which follows the Charles Darwin theory of the ‘Survival of Fittest’. Along with the arrival of Internet, it is the inception of private sources backed banking entities that has pushed the already established banking names (primarily, public sector banks) to limits. This atmospheric exertion and repulsion, has brought the best out of the both sector banks, much to the delight of the customer base.

After the invention of Internet, there has been a radical change in the quality of banking services. Now people can withdraw cash, round the clock, thanks to the ATMs, which are located in almost every part of the country. That’s not all, services like enquiries relating to bank account such as opening procedure, balance enquiry, transference of balance, discharging any kind of financial obligation can be done through Internet. Every query relating to any aspect of the concerned banking organisation can now be entertained via the channel of Internet. Internet even vouchsafes the account holder to operate his account from any corner of the world and transact. Internet introduction in the banking domain has done a remarkable job by adding the flexibility factor to its rigid norms. This is the chief reason why both the private sector banks as well as public sector banks have set an unbelievable standard of services.

If Internet has done a world of goods to the banking sector then in these liquidity-draught times, it is the terminal fixed deposits product that have contributed significantly to the survival of Indian banking system even in these rough times. Fixed deposits which some few years back got completely outdated, have made a stunning awesome comeback to the national banking stage, after a few necessary alterations that were needed to make it look more lucrative.

Fixed deposits, earlier, were a long term commitment involving the subscribing party and the concerned banking authority. At the end of the time period, ie, at the maturity of the fixed deposit policy, subscriber gets back the amount with a high interest rate. But some few years back, they faded into oblivion owing to sudden slump in demand. This continued for a considerable period of time, before economy came vis-a-vis to the economic crisis which needed sudden subtle adjustments on the behalf of the banking segment. Thereafter, a revolution followed which saw long term fixed deposit product suddenly metamorphosing into the short-term fixed deposit product but with comparatively higher rate of interest to suit to the demands of the every particular age group customer. The best part of this scheme was the interest rate factor, which is quite high for senior citizen, thus making it quite an appealing banking product. Since, the newer version was reintroduced in the market with a tenure of one year, it solved the short term problems of liquidity for the banks.

Comments are off for this post

10 Services That Banks Offer

Jul 11 2020 Published by under Uncategorized

Whenever we are looking for a particular bank product, we of course always want the best for ourselves. There are numerous services that banks offer. The following article intends to outline 10 of the principal services that banks offer and the reasons why we would want the best in each one… for ourselves!

Wanting the best for ourselves is especially true when we are looking for a means to entrust the safe keeping of our money. So where is the best place for your money? Give it to a friend? Put it in a piggy bank? Hide it in a particular place where only you know? Put it into a bank? Well these are some of the possible places and means wherein you can keep your money. But there is one thing that these ways have in common: they are all actually risky. They are all risky in the sense that the money you have entrusted to them are in danger of being spent, destroyed or will be worth less to you when you take the money back.

Of course, entrusting your money to a reliable and trusted bank is one of the most trusted ways to keep your money safe. Of course to do this, you have to open a savings account first before you are allowed to deposit your money with a bank.

Before opening a bank account, it is best practice to carry out thorough research about any prospective bank. If you think you are satisfied with your research and think that the bank you have chosen can meet all your business and personal needs, then this will be the time for you to enroll yourself and begin to make your deposits.

I Now Have A Bank Account!

Now, you and your money are already relatively safe and secure. I have to congratulate you for finding the best bank for you. However, I would like to reiterate here that all banks vary in the services they provide. A good example of the common services offered is the savings account. This is basically the initial service one can ever have when joining a bank. With regards to services, there are also some cases where some banks offer one type of service and others do not.

10 Services Offered By Banks

For you to have a clearer view of a bank’s services, I have included 10 of the services that most banks offer to consumer banking customers.

  1. Savings and other Accounts
  2. Online Banking
  3. Wire Services (includes customer care service)
  4. Payroll
  5. CDs
  6. Payments
  7. Collection
  8. Transfer of Funds
  9. Bill Payments
  10. Loans

Comments are off for this post

The Endless Importance Of NRI Banking Services

Jul 11 2020 Published by under Uncategorized

If you are living abroad, then it never means that you are staying away from your family. Keep in touch with your family from abroad to India as it becomes easier as well as faster by means of banking Services. There are a lot of Indians are living in overseas like United Stated, United Kingdom, Canada, and many more countries, and benefited from these Non-Resident Indians baking services. Such kind of banking services is helpful to make investments as well as payment. In addition, several NRIs decide on such services to take the advantage of the loans, facilities of bill payment, etc.

The eligibility measure for such banking services is uncomplicated as well as understandable. Any Person of Indian Origin, which is normally called as the PIO, is qualified to make use of these special banking services. A person is called as a PIO at what time he or she has a number of specific characteristics, and these are –

He or she needs to have an Indian passport for having the facility of the NRI Banking service. He or she must have grandparents or parents who were residents of India according to the Act, 1955 (57 of 1955) of Constitution of India or Citizenship.

He or she should be married to a person who belongs to India.

The only exclusion here is for those persons who live in Pakistan and Bangladesh. They are needed to get special authorization from the RBI or the Reserve Bank of India to use such banking facilities.

The most important emphasize of this kind of services is its payment facility to India. It will send your money as soon as could possible. You no need wait for a lot times for transferring your money to India, and thus, your family or friends will also get it very quickly, and for that reason it could used even in any urgency. As a result, you would be just near to your home even from abroad through such baking services.

You would be able to pay the bill to India from any country over the world. On the other hand, remitting funds to India is not completely free of difficulties. You may well face troubles relating to the high commissions of the agents. But, there is another significant attribute of NRI Banking services its is loan facility.

You may well access three types of banking facilities, and those are Non-Resident External or NRE, Foreign Currency Non-Resident or FCNR and the Non-Resident Ordinary or NRO. You possibly will choose any of these mentioned bank service, as these all come together with a number of advantages, which you search out in rare cases. For that basis, you are recommended to go for such bank services to keep in touch with your family during their needs even from abroad.

Comments are off for this post