Cash pooling is a financial strategy whereby a company maximizes its credit and debit positions. Cash pooling can also be used to reduce fees a company pays. Basically cash pooling makes the most out of the credit resources a company has available to it. There are a few ways in which a company can cash…
Barren money is cash that isn’t earning any interest and just about everyone has at least a little barren money. Everyone needs at least some barren money for spending. Most people that have a checking account don’t earn any interest on those funds. Some people do have interest checking accounts or reward accounts, but the…
As tax day approaches a lot of the tax services are going to be offering discounts in the next couple of months. Here’s one of them, Amazon is offering H&R Block At Home 2009 Deluxe Federal + State for only $25 (the regular price is $45). It comes with free shipping and can import data…
There are a few different types of bank accounts and most banks offer at least the basic few. Each bank will offer different features with each account type but there’s basically 4 general bank account types. The first type is a checking account. A checking account allows account holders to withdraw money from their account…
ChexSystems, also known as Chex Systems, Inc, is a Delaware based agency that keeps a database of individuals’ bank account history. ChexSystems reports individuals who close their bank accounts with a negative balance to credit agencies such as Equifax, TransUnion and Experian. Once you’re in the ChexSystems database you won’t be able to open a…
When you open a new savings account or checking account at a new bank you’re automatically listed as an authorized user of your account. If you want to share your access to your account with one or more people that is what’s known as a joint account. Anyone you list as an account holder will…
A direct deposit is a deposit into a bank account that doesn’t require a check to be written. Around 145 million Americans get paid through a direct deposit on a regular basis. Direct deposit is a perfectly acceptable form of getting a paycheck and is condoned by the IRS. There are also several government benefits…
A checkbook usually comes with checks, a number of deposit slips to deposit checks into your bank account, a section to mark deposits and withdrawals so you can balance your checkbook, and a sleeve for receipts. Some people carry a checkbook on them wherever they go in their purse or briefcase. Since a checkbook contains…
A cashier’s check is also known as a bank check, a teller’s check, a treasurer’s check, or an official check. A cashier’s check is guaranteed while a personal check may not be able to be cashed if the account it’s drawing from doesn’t have enough funds in it. A cashier’s check is not connected to…
A marriage, signing a lease, getting a loan, opening a checking account are all legally binding contracts. A legally binding contract means that one agrees to certain clauses outlined in a specified contract. The terms and conditions of the contract dictate what sort of behavior you’re governed by. Violating a legally binding contract either causes…