Personal Financial Management » Financial Institutions

Reorder Checks Safely – Bank Check Fraud Alerts

Thu, 12 Jan 2012 15:04:29 +0000

The lure of easy dishonest money is temptation for many a criminal. Illicit gain has attracted thieves into the financial arena. Dishonest fraudsters are easily prevented by employing ordinary security measures.

Dishonest weights and measures, where the trademark of con artists when silver, gold or purchasing products from merchant’s way before paper money made its appearance. With the advent of paper money and financial institutions, bank check fraud became the number one money transaction crime.

The process by which a check transaction takes place is when a bank check is written to someone, they deposit it in their account. The bank proceeds to send the check to a clearinghouse whose main purpose is to verify that there are funds sufficient for the transaction. Armed with this information, the bank can then deposit the funds into the person’s account knowing they are covered.

For instance, consider home thefts and in store thefts.

Studies support that most thefts are done by individuals working for and friends of the company. 80% of thefts are in house and equally divided between employees and delivery persons, so-called friends of the company. All research studies support these general conclusions.

You can’t control another’s perceived need or their rationalizations but can control their perception of going undetected. The reality check is that you can only affect the feeling that they are being watched, the cookies are being counted and that they cannot go undetected. They need mechanisms in place that makes them think that the cookies are counted before and after they leave.

Criteria for bank check security is the hallmark of the American National Standards Institute’s (ANSI).

It is accepted and adhered to by all financial institutions. One security feature is that small micro-print is employed that makes photocopying unfeasible. The print breaks up and is easily spotted.

Studies show that 90% of people will steal from you if they feel they can go undetected and if they have a perceived need and can rationalize their behavior.

Another ploy is to alter bank checks by changing the details. The criminal takes a good check and uses chemicals such as acetone or brake fluid or other means to erase the payee information and/or the amount.

Check to see if you have a healthy paranoia concerning your security. Healthy paranoia can be described as accurate thinking. Dealing with reality in a positive way without ignoring reality as others may do by focusing solely on positive thinking is essential for your balanced footing. Routinely check over your financial statements as a preventative.

A Review of the World Financial Group Business Opportunity

admin — Wed, 27 Apr 2011 18:52:51 +0000

World Financial Group, also known as WFG is a company that services financial needs. The WFG Associate is able to offer a broad spectrum of financial products and services from a long list of service providers.

A WFG Associate work with clients that have large amounts of discretionary income as well as everyday folks like me. Associates need to live in the US or Canada to be able to work for the company and be able to provide the services.

WFG is part of a worldwide insurance company. They say that unlike other insurance and financial institutions that offer their products and services from only one provider, that a WFG associate can find any product to fit any need. They are able to provide insurance, mutual funds, and other products.

What makes World Financial Group so different?

I searched their website to find the answer to this, to see if they truly are different. This is what I have found:

They provide the opportunity for you to be your own boss in your own business. (Same thing others provide). You can reach your dreams and help others reach theirs, (Still nothing different). You can help others by educating them on the financial fundamentals that can lead them to their dream, (still waiting). WFG is there to help provide excellent support, (Okay), Innovative training programs, and field-mentoring business model for you to follow, (I am doing this review and I am still waiting to find the answer that they posted on their site).

(A little later), I found it, and they are a company that is one of the few that is dedicated to serving financial needs of individuals and families that are often ignored or overlooked by the financial services industry. They want to provide financial education for the middle class who can learn from their latest financial concepts and solutions. Their goal is to teach the everyday person how to work toward their goals and achieve them.

From what I am gathering from my reading is that they have a great deal of support at their WFG Headquarters to help you. I guess I was looking for something that was really different from the other companies that I have reviewed. They will help you build a strong business by teaching you how to grow a strong client base. They will teach you how to recruit and mentor new associates.

They have a Business Format System (BFS), which is the core set of principles of their Turnkey Marketing System. When you are a registered representative with WFG, you will be able to offer clients securities related products and services. Normally and insurance agent would need a Series 6 or Series 7 license to do this. You will be able to provide Mutual Funds, Annuities, Life Insurance, IRA’s and Roth IRAs. You will be selling college funds/529 plans, Pensions/401K, brokerage services, mortgages, property and casualty insurance. You will be doing this through the company WRL and Pacific Life, American Skandia, Transamerica Retirement Services, and Allianz.

As I was not able to find their compensation plan, but they do state on their website that their Compensation System and Promotion Guidelines are subject to change at anytime.
However, there is a lot of information regarding the Success Levels and how much the potential earning is along with the prizes.

There are a lot of very positive testimonials of very successful individuals and couples available to read and you will be able to hear from the Chairmen of the company. Again, I could not find any information on the compensation plan or the cost to become an Independent Associate. That information may only come from another associate once you contact them.

American Payday Loans

admin — Thu, 24 Feb 2011 01:25:49 +0000

Have you ever face a sudden financial burden for your unexpected bills and unforeseen costs? Don’t worry, there’s always a way out for every problem. You can get online loans with no credit check, in just a few clicks away! American Payday Loans is the fastest way to get the online cash advances, and payday loans. It is much cheaper compared with overdraft fees since it does not need high fees as with credit card payments. Moreover, American Payday Loans does not require high credit score inquiries. Many people do not have the opportunity to take loans from banks because some of them sometimes do not have a perfect score. Therefore, a lot of lenders just refuse their applications.

The financial assistance from cash advance us provides the money up to $ 1,500 in your bank account! Though, this amount can be varies depending on the laws provided by the state you stay in. Related to the fees, it depends on the state legislature and the particular cash advance lender within the network. It can be that easy if you meet the general requirements, such as currently employed or receive regular income, earn at minimum $1,000 per month, over 18 years of age, a citizen of the United States, and have a bank account.

You can get the payday loans online in just overnight! The process is simple and quick, there is no need to fax any documents. Soon after the loan registration, your secure information will be encrypted by the Secure Socket Layer (SSL) protocol. This advanced technology used by banks and lenders all over the world. Moreover, your personal data available in the application will be visible only for the lenders providing cash advance loans for you. So, what are you waiting for? Grab this offer and get the full benefit!

Get Money Easily via Payday Loan

admin — Fri, 30 Jul 2010 19:02:14 +0000

Borrowing money is an activity that makes us feel quite ashamed. In fact, such activity is common among the community. Even some financial institutions and banks advertise to the community that they can provide loans with different interest rates depending on the offering. Again, money is a sensitive but important thing. When we deal with unexpected problems that require money, then borrowing is one way to overcome these problems.

Borrow from a bank? Sure is highly discouraged to borrow small sums of money in the bank. Borrowing from the shark loan? You better not to do that. Because besides not safe, we will get new problems from the shark loan. Now we are able to get our small loan through Personalcashadvance.com. In this website, we are able to get a payday loan. Yes, we do loans online on the internet. Sounds pretty easy right? Not only sound but also it proved to be very easy and of course safe. This is a short-term loan and we can directly pay with our salary in the next month.

So please do not worry if you now face the money problem. In modern era just like now days, you can find many offers to solve your problem. You found life is easier with this offer.

Best Interest Rates For Savings Accounts Are High Yield

admin — Sat, 17 Jul 2010 00:58:54 +0000

If you have looked for the best interest rate for a savings account, no doubt you know that they can fluctuate greatly. Because they are based upon current federal reserve rates, which in turn are based on the strength of US currency. Since these types of interest yields are unpredictable, you are wise if you keep abreast of the rates of traditional banks as well as the rates of increasingly popular savings accounts online.

Many banks and other financial institutions offer a type of investment called “high yield savings accounts.” These types of banking services offer higher annual percentage rate than regular savings accounts do. This is likely to be attractive to a consumer who is interested in do a comparison before deciding on what type of account to choose for savings and investment. However, you should keep in mind that they usually require a greater minimum balance for the particular bank or institution you’re considering. You may have to commit to a higher starting deposit, a higher average daily balance, or a limited amount of transactions allowed per month. Sometimes, you may be required to have a checking account tied to the savings account.

A popular alternative to store front banks, online banking services offer rates of interest that, in most cases, are significantly higher than traditional brick-and-mortar banks. Some of these banking services include ING Direct, HSBC Bank, Emigrant Direct Bank, GMAC Bank, interest rates for these institutions are higher because there is much less overhead associated with an online-only bank. Therefore, they can pass savings from operational costs on to consumers like you by offering higher interest rates.

If you research online, you’ll find that there are many resources available to you if you want to compare interest rates and services between institutions, whether traditional store front, high yield, or online . You can easily do quick research for various types of saving products from a number of different financial institutions, as well as for versions of a savings account calculator, by going to such popular financial web sites as Financial Times and Motley Fool; you will be required to register, but it’s free. The calculator will help you estimate earnings on a particular investment based upon the initial investment, the length of time interest accrues, and the annual percentage yield received. With a little research you will be able to recognize and secure the best interest rate for a savings account online or at or at your local branch.

Debt Management Plan – Steps To Overcome Debts

admin — Tue, 27 Apr 2010 20:11:16 +0000

It seems every one is in a mad rush to accomplish their various desires. For that matter, loans are being availed from various lenders. The likelihood of debts piling up is not really a matter of concern for the individuals. In fact the focus is now more on effectively managing the debts and then subsequently finishing off. More and more people from varied financial backgrounds are now opting for debt management plan. This plan almost acts like a back end support for those individuals who are reeling under sever debt problems.

The priority of this plan lies in bringing down the debts to an affordable level and then subsequently eliminating it in a convenient manner. Initially you can work out the details of the plan by yourself in the start or by taking the help of experts. Usually, if the debts are smaller in amount, then you can handle the debts by managing your available resources in an appropriate manner. To do so, you can cut down on the unwanted expenses and saving money to clear the debts. On the other hand, if the debts are large in amount then you need the advice of experts.

As a first step towards managing debts, you must evaluate the exact amount of debts along with the interest rate that remains to be paid. To do so, rope in a financial expert. These financial experts are assigned to you by financial companies offering debt management services.

One of the most preferred ways to eliminate debts is by availing a debt consolidation loan. This loan enables you to finish the debts in one go. Here you take a loan amount equivalent to your debts at low rates to pay off the debts immediately. By resorting to this method, now you have to make monthly payments to a single lender. You will also be able to save a lot of money.

There are many lenders and financial institutions who are offering the services of debt management program. Always ensure that the company providing the service is reputed enough and have substantial amount of experience in handling debts in the past. In this regard, you can use the online mode. so with the help of this program, you can easily settle the debts which ensures a debt free life for you.

High Interest Savings Accounts Features

admin — Wed, 14 Apr 2010 08:43:09 +0000

The main benefit of a high interest savings account of course, is that the higher interest rate gives you a better return on your money. Traditionally, interest rates for savings accounts have not been very high, but with the advent and popularity of online-only accounts that offer such great rates and no fees, banks have been forced to re-think what they offer their customers in an effort to keep them.

To be able to get a good return on your money is paramount, but just as important is low or no risk, and low or no fees. Many high interest accounts have minimal fees, or you can keep them down by limiting your transaction number per month.

However, convenience is also a consideration. While many customers left their traditional banks to take advantage of the better interest rates elsewhere, it may not have been nearly as convenient to have their assets divided. If they wanted to transfer money from one to another, it would take some days before the deed was finalized in real time, even though it was done so quickly online. These customers would be pleased to see that banks now offer high interest savings accounts with the convenience of having your other accounts at the same bank.

Those who avail themselves of the high interest savings accounts now offered by most banks and other financial institutions need to watch that fine print to see what features their account offers. Some features can be considered less than beneficial when you could lose the high interest offered if you either don’t make regular monthly deposits, or if you withdraw.

Internet Savings Account

admin — Tue, 13 Apr 2010 21:17:36 +0000

If you have been looking out for information on an internet account, you have reached the right place. Our extensive resources will help you find the best internet savings account for you. These well-researched resources will also help you get free information from a number of local financial institutions. This information will certainly provide insight into all of the ways that you can benefit from opening up an internet bank account.

Having an internet bank account will also improve your chances of being able to obtain a loan. If you are in need of a personal loan, automobile loan, student loan, or mortgage, you have a higher chance of being approved if you are already own an account best Internet savings. This is because many banks are more likely to do business with their existing customers.

In addition to being approved for a loan with your bank, having an internet bank account can improve your chances of obtaining financing elsewhere. Before financing is granted, the lender in question will examine your ability to pay. If you have an internet bank account or a checking account, the balance of those accounts will be taken into consideration.

What is more, the more money you have in your account, the more likely it is that you will be approved for financing. If you want to make the best use of your money, you must find the account best Internet savings. You can browse this site and the Internet to get the best resource and to get more information on opening an internet bank account.

Income Investing – Why Isn’t This Easy?

admin — Thu, 08 Apr 2010 03:00:13 +0000

Most people (including myself) would insist that Equity Investing is the most difficult to master. After all, that is the venue for: erratic price fluctuations caused by an endless supply of social, economic, and political variables; the standard Wall Street misinformation, corporate malfeasance, self- serving financial gurus, and product sales persons; a myriad of popular and market moving speculations from IPOs to Option and Margin strategies; thousands of media talk shows and their financial markets’ experts. When you think you understand the stock market brother, you are in serious trouble.

But more devastating than everything that has been done to turn Equity Investing into a product shopping mall of some kind, is the bottom-line/market-value brainwashing that has taken the calm, secure, and smiley-faced world of Income Investing and turned it upside down. I get more phone calls and e-mails from confused Income Investors than I ever receive from a simple plunge in Equity prices. Admittedly, very few Equity investors get to that special place, shouting “Eureka!” as they first realize that corrections in the “Shock” Market are every bit as lovable as rallies. But not recognizing that slowly rising interest rates is as much a boon for both fixed and variable Income Investors as it could possibly be a temporary set back for a struggling economy… well, that’s just another example of irresponsible investor counter-education from our much too respected enemies in the financial institutions.

Income Investors must learn to hold these truths to be self evident:

(1) More interest on your invested dollars is just plain better for you than less income on your invested dollars, and the amount you have allocated to Income Investing should never change because of market factors.

(2) A change in the Market Value of the Fixed Income Securities you already own has absolutely no bearing on any assumptions that could possibly be made about the credit worthiness of the issuers of the securities themselves.

(3) A change in the Market Value of your Fixed Income holdings will rarely have a negative impact on the regular recurring income that you receive and, after all, you bought these securities for the income in the first place.

(4) Buying fixed income securities in a rising interest rate environment has a positive, compounding effect on portfolio yields and, at the same time, plants the seeds for future capital gains as interest rates recede.

(5) Many fixed and variable income securities can be added to as interest rates rise both to increase the average yield AND to decrease the average cost of the securities.

Why is this not easy? It’s not easy because financial professionals and pseudo-professionals alike won’t let it be. If you have a properly designed Investment Portfolio, you must view each segment separately and with an understanding of the purpose of each. Avoid advisors who consider the bottom line market value of such a portfolio as anything other than an “expectation corroborator” (and your just going to have to call me if you don’t know what that is). Your portfolio market value should never be a surprise and, more importantly, it should never be looked at as something to be particularly concerned about… at least not immediately. For example, you had to be living in a cave somewhere and smoking something really special to think that your Interest Rate Sensitive (or Investment Grade equity) portfolio would be up in market value from June of 2007 through mid-January of 2008.

You really have to learn to love the simplicity of Income Investing. Interest rate sensitivity is a given (and, by the way, interest rate expectations themselves are sensitive to inflation expectations). Price movements are both predictable and meaningless. We actually have an investment condition that approaches certainty. This is an investment nirvana, people! Don’t let those guys in the pinstripes get you confused. Don’t panic, don’t switch, and don’t cry in your beer. Look at the income number on your statement and go “hmmmm” when you see no meaningful change in either direction. (Actually, if you’re doing this properly, the year over year Base Income figure should have increased.)

So the recent bad news (all of it) is really good news for investors and yes, just as higher interest rates are actually better than lower ones to a certain extent, so should lower stock prices be welcomed with more smiles than tears. Only those speculators who haven’t taken their rally profits are unhappy with corrections… and that is true in both Equity and Income Securities Markets. Dealing with both events at the same time can make your bottom (line) a bit uncomfortable, but only until you recognize that smaller numbers are better for buying and that their larger cousins are best appreciated with sell orders.

During all types of corrections, some investment professionals will play to your fears, encouraging you to cut your losses, and to switch to something else… generally something that is cycling upwards. You don’t have losses UNLESS you fall for this switching advice. Don’t be pushed into such decisions no matter how smart the arguments seem. All fixed income investments (with the exception of open end Mutual Funds) are created equally and switching just doesn’t work. An unhappy investor is Wall Street’s best friend, so don’t allow interest rate movements in either direction to affect your investment mood.

Consolidating Your Credit Card Debt

admin — Tue, 30 Mar 2010 00:43:40 +0000

Credit card consolidation is the process of transferring all your credit card debt to one card with a lower interest rate. This process can help save you money on interest and finance charges, and ultimately help you get out of debt sooner.

How’s it Different from a Credit Consolidation Loan?

A credit consolidation loan is a loan you get from a bank or other financial institution. You use this loan to pay off other non-secured consumer loans and credit cards.

These loans can be secured or unsecured. A secured loan will provide you with a lower interest rate because there’s collateral, like a vehicle or house, that the financial institution can take from you if payment isn’t made.

There’s some disagreement among financial advisors as to whether it’s good practice to get a secured loan to pay off credit card debt. If you have the assets to get a secure loan, then that choice is entirely up to you. Banks and financial institutions may be more comfortable giving you a lower interest credit consolidation loan if they feel that their financial behinds are covered in the event that you don’t pay.

Credit consolidation loans are not practical for everyone. They should only be used if you’re having difficulty making your credit card payments through normal budgeting. They’re a great way to reduce your debts, but in order to prevent further debt you’ll need to completely change your spending habits.

Rates for credit consolidation loans vary. They will ultimately cost you less money each month since you’ll be making one payment to one creditor instead of several to numerous creditors. Try to get a fixed interest rate so that your payments don’t change.

Some banks charge a small service fee to set up a consolidation loan. The same is true for any company specializing in such loans. Be wary of a company that makes grandiose promises about permanently reducing your debt. Also be cautious of companies that charge you a consultation fee or large commission to reduce your credit card debt.

A consolidation loan will not usually have a bad affect on your credit rating, but be sure all the loan procedures are explained to you before you get it.

Debt Reduction with Credit Card Consolidation

If you’re not interested in getting a credit consolidation loan, you can reduce your monthly credit card payments by consolidating all your balances to one low-interest card.

Credit card consolidation may also be the your only option to reduce credit card debt if you don’t have the assets to get a secured low-interest loan.

While low interest credit cards or cards with zero-interest introductory periods can help you manage overwhelming credit card debt, they will not provide a magic solution to your debt problems.

Chris Viale, general manager of Cambridge Credit Corporation, a non-profit credit counseling agency in Agawam, Massachusetts warns about the dangers of these low interest or introductory zero-interest credit cards. Viale points out that “you’re getting symptomatic relief, not a credit cure.”

According to Viale’s statistics, 70% of Americans who use credit card consolidation (as a loan or credit card balance transfer) to pay off their credit card debts end up with the same or higher debt loan within two years.

This is not to discourage you from getting a credit card with a great promotional offer. Most people find themselves back in debt because of poor financial planning and unrealistic expectations and not because of the card itself.

When you apply for any new credit card, do so with your eyes open. Companies that offer a zero-interest introductory period are only doing so to entice you to switch to their card. You will be required to pay interest on your balance sooner than you may want to.

These cards can work for you, but to make them work you need to be disciplined. You’ll need to stop charging purchases to your credit card. It’s also a good idea to make double payments to make sure that you’re paying the principle.