You need different materials ready depending on how you open a bank account. All methods of opening an account require proof of age, address, and legal status. Opening a bank account can take up to half an hour so make sure you have enough time to open your account. If you’re opening a joint account…
First City Bank is offering a 2.25% APY 15 month CD with a minimum deposit of $5,000 and a maximum of $250,000. These CD rates are going to expire on February 26th, 2010. There’s an online application that’s available to anyone nationwide, but you can’t seem to select the 15 month CD. When filling out…
Danversbank is offering a local Massachusetts CD rate and also some good national CD rates. The first you can get from their Cambridge branch at 485 Mass Ave. It’s a 2.5% 1 year CD with a minimum deposit of $500, and a maximum of $500,000. You need new money to open this account. This deal…
A zero balance account is a type of account that can make payments but does not carry a balance. A small business checking account that only carries enough funds to pay off its vendors is a type of zero balance account. Zero balance accounts are almost always in the form of a business checking account….
Fractional-reserve banking is a type of banking where the bank only needs to keep a fraction of their actual deposits on premises. Almost every bank operates under this type of system because this is what allows banks to generate money. For example a bank might loan out deposit money in order to get interest paid…
Bank reconciliation is any time you compare documents from a bank with documents from an account holder. Businesses and individuals will sometimes take part in bank reconciliation. If you balance your checkbook you can compare your own record keeping to the bank’s statements on your checking account and make sure they match up. This is…
A man in the browser attack is a hack that can steal login information and financial account details. The attack uses Trojans and phishing techniques to gain access to a computer and steal the targets private information. The Trojan doesn’t interfere with the functioning on the computer so the user doesn’t know that his or…
Every time you write a check there’s a certain amount of time between when you actually write the check to when the funds are deducted from your checking account. This time can include time taken to mail the check and the time it takes the receiver to get to the bank to cash your check….
If you were going to sign up for a Costco membership they’re now offering a free booklet of $50 worth of coupons when you sign up. The price for membership remains the same which is $50 a year for Gold and $100 for Executive membership. The promo code is smartsave for Gold and smartsaveEX for…
A currency converter shows the worth of one currency amount when it’s converted to a foreign currency. Currency conversions calculations can be made based on the foreign exchange (FOREX) market which is always open. Over 3 trillion dollars are traded over the FOREX everyday. A currency converter is useful when visiting foreign countries and you…