How To Get A Credit Card Without Using A Bank Account

It can be a great thing to have a credit card, but it can be hard to get one if you don't have a particularly good credit history. Restrictions to get credit cards are quite tough, and if you have bad credit you might find it nearly impossible to get a credit card. If you can get one, sometimes, you may find yourself it with very high interest rates or other charges that make these credit cards very expensive.

If you don't have perfect credit or you don't have a bank account, though, there's still hope. There are credit cards that are known as "no bank account credit cards." These credit cards can help those with bad credit reestablish credit. They're quite easy to get and they can help you repair your credit so that you can live the life you want.


These types of credit cards are preloaded. Your credit limit is what you have loaded onto the card by pre-payment. If you want to reestablish your credit but want to control your spending and know how much you have the same time, this credit card may be just what you need. They're also good if you want to learn how to manage your money. It's also great because these cards will give you the power and convenience of the credit card without any of its drawbacks; with them, you can be sure to live within your means.

Don't rush out and get one of these credit cards just yet, though. First, look around and find the best deal available to you. Most of these "no bank account" credit cards will give you the same rewards and incentives as traditional credit cards, as well as online access to your account. These are accepted in any location traditional credit cards are and you can also have ATM access for instant cash. If you find a particular card that doesn't give you these types of benefits, look for one that does.

You should also look for a no bank credit card with a low interest rate, no annual fees, and very good customer support. It's very important that you get good customer support with these types of credit cards, because you don't want to be stuck high and dry if you encounter a problem.

Take your time and do your homework when you look into no bank account credit cards. You'll find one that's a good deal for you, especially if you look online. Compare features, rates, and incentives. Choose a company that provides the best benefits for you. In this way, you can utilize a credit card that will give you all of credit cards benefits without having to worry about your credit history or the need to have a bank account.

Author: promax

Source: www.articledashboard.com

Mobile Phone Banking - 5 Reasons You Should Use Mobile Phone Banking Services

Mobile phone banking is catching on in the US, with a number of banks already offering the service or announcing plans to do so in the near future.

Depending on the facilities made available by your bank, you should be able to check your balance, view a statement and history of transactions, send money and receive money.

Here are some of the reasons you should consider taking up mobile banking:

1. It is a bank outlet in your pocket - Mobile phone banking is convenient, allowing you to conduct many of your banking transactions wherever you are, regardless of the time.

2. Mobile banking is easy to use - Banks are also aware that their user-interface has to be easy to use so it does not put people off using the facility. The user-interface also allows multiple payments without having to fill a gazillion forms, and saves the record of the transaction.

3. Mobile banking usually costs less - Some banks also offer the facility at cheaper rates than if the consumer did in person banking.

4. Mobile banking minimises risk of fraud -Mobile banking will help you minimise the risk of fraud in your bank account. The facility ensures you receive notification when there is activity in your account. The notices include debit order activity, deposits, withdrawals, transfers of cash to your account or when your credit card is used.

The notice comes at the instant of the transfer, rather than when the funds hit your bank account. So you no longer have to listen to "I transferred the payment and don't understand why the funds haven't reached your account yet."

5. Mobile banking offers access to instant money - Some banks enable instant cash transfers if the beneficiary and recipient accounts are held in the same bank.

This means that, at a click of a button, you can send cash to your child/ partner/ spouse/ friend/ relative if they have an emergency and need money immediately.

Author: Damaria Senne
Source: www.ezinearticles.com

Mobile Banking : an Introduction

After Internet Banking, Mobile Banking or M-Banking has become the buzz word in the industry. It’s a fact that Internet Banking has given a boost and has shown a successful way to consider it as a good alternative procedure against physical branch banking. Now where ever you are, you can access your bank account and you can do lot more things like checking your account balance, transfer money to some other account, pay your utility bills online and so on, just by comfortably sitting at your home or office. But, the technical disadvantage of Internet Banking is, you have to have internet connectivity and a computer. Definitely it’s not a big hindrance in US or Europe or in the other developed countries, but if one considers the developing economies, then it’s a genuine problem and more specifically in the tier II cities.

And here Mobile Banking comes into the picture to address the basic limitation of Internet Banking. If we only consider Asian developing countries, the availability of mobile connectivity is really huge. Where one may not find out a landline telephone or an internet connection, but still in those remote places getting mobile connectivity is not a major issue today.

So, Mobile Banking has given the traditional banking a newer look “Anywhere Banking”. Now you don’t need a PC or a laptop with internet connectivity, just you need your cell phone with you. Considering the Asian economy countries like China, India and Korea have seen the mobile boom in last one decade. A projected value of mobile connectivity in India shows that it will touch 180 Million subscribers by the end of 2008, where it was pegged at around 2 Million in the year 2000. In Korea, more than 70% of the entire population is carrying mobile devices.

The biggest advantage Mobile Banking provides to the banks is that it helps to cut down the costs as it’s even more economic than providing tele-banking facilities where banks have to keep hundreds of tele-callers. Additionally, Mobile Banking helps banks to upgrade the quality of services and nature of customer relationship management. Using Mobile Banking, banks can communicate to the defined cluster of clients. The offers can be customized and this personalization can give the banking industry a huge mileage, even at a lower cost. Again, using the same mobile channels, banks can up-sell and cross-sell their highly complex financial products to the specific set of customers which can be coupled with the selling strategies of Credit Cards, Home Loans and Personal Loans etc. On the contrary, the service providers can also accrue more business by providing the Mobile Banking services to their clients. Countries like Japan, Korea or Singapore where the mobile connectivity has already reached its saturation, the service providers can make handsome business by providing additional banking services to the same static client base.

In the services front, different banking services can be provided, depending upon the banking regulations in respective countries which may include Account Balance Enquiry, Account Statement Enquiry, Credit/Debit Alerts, Bill Payment Alerts, Cheque Book Requisition, Transaction History, Minimum Balance Alerts, Fund Transfer Facilities, etc.

Mobile Banking activities can be categorized in two different manners.

1. By the Nature of Service: It can be any of the two, either Enquiry Based or Transaction Based. For example, Account Balance Enquiry or a Cheque Book Requisition can be the good examples of Enquiry Based Services where a Fund Transfer or a Bill Payment is a Transaction Based activity.

2. Depending on the Originator: Again there can be two different types of services; Push and Pull, depending on the nature of the originator. A Push based service is from the Bank to the Client and vice versa. For example, Bill Payment Alert can be a Push based service, when getting Recent Account History is a Pull based one.

In different countries, Mobile Banking has already gained its popularity. For example, in the South Korean market LG Telecom teamed up with Kookmin Bank to provide their Mobile Banking services in 2004 and since then they have seen a nice and steady growth. In India, Reliance Infocomm has started providing Mobile banking services to ICICI Bank and HDFC Bank through their R-World environment.

The Mobile Banking services will become more popular once the availability of the smart phones or PDA phones shall increase as Smart Phones come with larger screens and bigger memory size. In the application development front, both J2ME and BREW have done excellent work and industry expects by the year 2012, more than 80% of the mobile handsets will be able to run stand alone Mobile Banking applications and that time it will be “Anywhere Banking” in real sense.

Author: Paramantapa Dasgupta
Source: www.articlesbase.com

Credit Card: the Bank in the Wallet

What do you do when you see something very attractive in a showroom and feel a strong urge to buy it at that moment only but your purse do not allow you do so? Definitely you go for your credit card or your debit card. Yes, it is the plastic money that has become the trend of the day. You do not need to carry a pack of money with you to buy something; no matter it is a big one or small.

The leverage that is offered by plastic money has been carried a long way by credit card. No matter whether you have balance in your bank account or not, purchasing a product of your choice or availing a service you need is in no way difficult. While your debit card becomes invalid when your bank balance is next to zero, the credit card allows you to buy things now and pay for them later.

This is the reason why credit cards have got ubiquitous usage now. It has become the part and parcel of life. Nowadays, it is not enough for anybody to have the card of only one company. It is not at all surprising if you see that a single person has multiple cards under his disposal. This is because various card companies have different and incentive plans. To avail the benefits of different companies, it is necessary to take cards from more than one company.

Finding credit card flashy and handy, many people start making frequent use of them and, in the long run build up debts in huge amount. So, it is never recommendable to use these cards unless there is an urgent need. At the same time, it is also advisable to clear the payments of the cards before due date to avoid paying extra or high interest and to keep up good relation with the agency.

About the author:- The author is an expert in credit cards, credit card UK, compare credit card and has written a number of authoritative articles on this subject. His articles are widely read because of the clever tips and valuable advices he provides in them.

Author: Smith James
Source: www.ArticleBiz.com

Anatomy of a Credit Card

know this my be elementary but some young people actually do not understand how a credit card works. So here is a brief overview of how a credit card works and a brief history.Â
 A credit card is a device used to obtain consumer credit at the time of purchasing an article or service. Credit cards may be issued by a business, such as a department store or an oil company, to make it easier for consumers to buy their products. Alternatively credit cards may be issued by third parties, such as a bank or a financial services company, and used by consumers to purchase goods and services from other companies. There are two types of cards��"credit cards and charge cards. Credit cards such as Visa and MasterCard allow the consumer to pay a monthly minimum on their purchases with an interest charge on the unpaid balance. Charge cards, such as American Express, require the consumer to pay for all purchases at the end of the billing period. Consumers may also use bank cards to obtain short-term personal loans (including "cash advances" through automated teller machines ). Credit card issuers receive revenue from fees paid by stores that accept their cards and by consumers that use the cards, and from interest charged consumers on unpaid balances.

Diners Club became the first credit card company in 1950, when it issued a card allowing members to charge meals at 27 New York City restaurants. In 1958, Bank of America issued the BankAmericard (now Visa), the first bank credit card. In 1965, only 5 million cards were in circulation; by 1996, U.S. consumers had nearly 1.4 billion cards, which they used to charge $991 billion in goods annually.

The growth of credit cards has had an enormous impact on the economy��"changing buying habits by making it much easier for consumers to finance purchases and by lowering savings rates (because consumers do not need to save money for larger purchases). Oil companies, car makers, and retailers have also used the cards to market their goods and services, using credit as a way of encouraging consumers to buy. Concern has been voiced over widespread distribution of bank credit cards to consumers who may not be able to pay their bills; costly losses and theft of cards; inaccurate (and damaging) credit records; high interest rates on unpaid balances; and excessive encouragement of consumer debt that has cut savings in the United States.

Technology advances have facilitated the use of credit cards. Merchants are now connected to banks by modem , so purchases are approved rapidly; on-line shopping on the Internet is possible with credit card payment. Credit card companies are also experimenting with smart cards that would act like a small computer, storing account and other information necessary for its use. An alternative to credit cards is the debit card , which is used to deduct the price of goods and service directly from customers' bank balances.

Author: Lance Yates
Source: www.goarticles.com

Help Your Bank to Say "Yes"

99% of the net gain in employment in the next ten years will come from small business. That's a fact. Outsourcing and down sizing has caused a focus in the US economy on YOU, the small business owner. The history of the success/failure rate in the US over the past 50 years is changing and it's important that our business/finance culture becomes responsive.

Here are the historical facts that we must work hard to change: (source-Small Business Administration)
- 97% of all small businesses are never funded
- 80% fail within the first five years
- 65% of those failing are profitable

Each of the above numbers is connected to each other. The small business community must respond to each of these statistics. If 97% are not funded, two things must happen:

1) Lending institutions need to reflect on the process used to review business loan applications. (happily, this is happening) Banks can't take unreasonable risks, but many are putting more focus on the businesses ability to repay, and slightly less focus on the personal credit of the business owner. A bank still must feel secured before making a business loan, but they are fast recognizing the importance of the small business.

2) The small business owner must become more aware of how a bank makes their decision to lend or not. Getting a yes from your banker involves many factors. Each bank has their specific criteria for lending. Aside from that, it is up to you to manage the process.

Get to know your banker and build a relationship. The human element cannot be ignored. It is to your advantage that your banker knows you on a personal level, your work ethic, your level of integrity, as well as specifics regarding your personal financial situation. They also need a solid understanding of your business, its cash flow and future needs for growth. Once you have a working relationship established, when the time comes that you do need financing for new equipment or to implement growth plans, they are in a much better position of understanding to "go to bat" for you during the loan process.

With the relationship established, it is now up to you to be prepared. You must have "the goods" to back up your loan request. What I mean by "the goods", is having a credible business plan that you believe is achievable and that you have a complete understanding of the numbers that you are presenting. Is your plan fact or fiction? I speak with hundreds of business owners who just don't understand the need to properly package their business loan application. Most large businesses not only know how to package loan applications, they have the staff to put it together. A small business owner does not have those same resources. The only method for solving this problem will be PART TIME RESOURCES on a professional level.

There are many providers for these services, on a part time basis, and at a reasonable price. However, we must create a method for the small business owner to find these opportunities. All of us in the business culture need to work together to make that more easily obtainable. We must work toward educating the institutions and the business borrowers.

Author: Jack Mcdonnell
Source: www.ezinearticles.com

Opening A Bank Account For Your Small Business

You've taken the first step. Or steps. Your small business is opened and you think you've finally gotten the paperwork completed. IRS docs, filing with the state and local registration...it can be overwhelming. Then, when you finally think you can rest, you remember that opening a business bank account is also on your list of things-to-do. Don't worry, it's simple as pie.

Banks want your business, so really you have the pick of the litter. As long as the risks associated with your business are not high, banks will be happy to take you on as their custome, as businesses usually make more profit for banks. Before you commit yourself to one bank, research your options. How do the fees compare from this bank to that one? Are you getting the best deal you can?

Banks are constantly in the process of customer acquisition. In other words, they need new customers to keep growing and thriving as a business. Yes, they will prescreen your credit history, so be prepared for that. In their application processing system. they will see all your personal financial history. Hopefully you have great credit. But if you don't, you still may be able to get a fair deal with a bank.

Choosing which bank

Choose a bank you can trust, with good interest rates. You may prefer to stick with the local bank that has served you well for the past 20 years. Or, you may feel more comfortable with the security of a national or international banking outfit. Your choice depends on personal taste and the vision for your business.

The first requirement for opening a business bank account is business registration with the government. Your business may be a sole proprietorship, general partnership, limited liability company, corporation, association or nonprofit organization. All can qualify for a business banking account.

Setting up the bank account is relatively easy: Just bring your business license and relevant tax identification papers. You may have to sit awhile as they process your history and the business papers. It can take some time, so plan on reserving at least two hours for the meeting. When the bank agent presents your documents to sign, give it a good read over. Make sure you are clear on all the fine print.


Now what about getting a loan?

After you open your business bank account, you may want a loan. To really grow your business you will need a chunk of money, and for most of us, this means borrowing from the bank. If you have been saving up and have sufficient resources to grow a successful business, lucky you: A loan may be unecessary.

For the rest of us, taking out a bank loan for 10 or a hundred thousand is a big step. The investment can pay off high, potentially. Or you could be in debt for years. If you believe in your business and have a proven track record of success that indicates continued success in the future, consider that loan.

Before committing to a loan, you'll want to ask, "What is the lowest interest rate I can get?" Maybe your bank is already giving you the lowest rate on the market. Also, consider that a bank with incredibly low interest may be *too good to be true.* Such below market interest rates could indicate instability. Beware of small independent banks without a long and solid history. Ask other business people in the area where they take their business.


Author: Amy Brevard
Sourcewww.articledashboard.com

Choosing a Bank Account

One of the first things you must do when starting a new business is open a bank account for your business. You will have to consider several things including transaction and borrowing costs, what facilities the bank offers, and the type of relationship you want with a bank. A business account is essential if you are setting up a Limited Company or Partnership. While you can use your own personal account if your business is a sole proprietorship, it is advisable that you have a separate business account to manage your business finances.

Now that you are aware that you have to open a bank account, how do you go about it? Can you use the same bank that you use for your personal accounts? Of course, you can! But they may not offer the best deal for your business. The considerations for opening a business account are quite different from a personal account - you could be missing out on lower charges and higher interest on a credit balance. Over a long period, you could be depriving your business of a significant amount of money. Before you sign up with anyone, look around and understand what's available out there.

We've put together the 5 most important factors to consider before choosing a bank account:

1. Bank charges - This is a key point that you have to consider - how much will it cost you to have a business bank account? Ensure that you know exactly what charges will be levied on your account before signing up. The more check and cash transactions you have, the higher the charges you will end up paying.

2. Online services - Does the account offer online services? This is an increasingly important service, and most banks now provide an internet service so you can check the status of your account day or night. By using this service, you can manage your account transactions in a fraction of the time it used to take in the old days.

3. Interest rates - The interest rates can vary from bank to bank. Consider the overall benefits an account would provide to your business and decide accordingly.

4. Small business advice - Select a bank that has a specialized small business unit. This could be of big help to you when you are setting up your business and if you establish a good working relationship with them, you can reap the benefits of their expertise.

5. Shop around -Make sure you compare several business account offerings, and compare the costs and charges associated with each one. Typically, you should compare at least three accounts before zeroing in on one.

Choosing a bank account for your small business is an important stage in the startup process. So, spend the necessary time and effort to get the best banking deal for your business.

Author: Akhil Shahani
Source: ezinearticles.com

How To Choose The Right Bank

Financial institutions are located all around the world. If you are looking to open a bank account, whether that bank account is a checking account or a savings account, you have a number of banking options. In fact, you have so many options that choosing the right bank may seem like an overwhelming process. To make that process easier, you will need to know what to look for in a bank.

Location is the key to many. If you are interested in having easy access to a bank, you may want to consider doing business with a local bank or a national bank that has a local office in your area. These banks are ideal for those with checking accounts or debit cards. You may find that using an ATM machine, other than the one provided at your bank, results in extra fees. This is one of the many reasons why banking with a local institution is popular, because you will have easy access to your money.

When finding the perfect bank for you to do business with, it is also important to determine what you want and need from a bank. Whether you are interested in opening a savings account or a checking account, it is important to examine the fees that each bank will charge. If you are interested in opening a savings account for someone under the age of eighteen, you may find that you are able to receive a free account. Adults, on the other hand, are often required to pay a monthly fee or maintain a certain balance in their account.

If you are interested in opening a checking account, there are also a number of fees that you should be on the lookout for. It is possible to obtain a free checking account, but many of these accounts come with specific requirements. You are likely to come across a number of financial institutions that require you to have a set amount of money in your account at all times. It is also possible to find banks that grant you free checking as long as you have your paychecks directly deposited into your account.

There are a large number of banks that will allow you to carry a debit card. These debit cards can often be linked directly to a savings account or a checking account. It is important to determine if you will be charged for obtaining a debit card. Many banks charge an upfront fee, typically less than five dollars, for requesting a debit card. A number of banks also change monthly fees for using a debit card. The same can be said for checks. In addition to paying for new checks, there are many financial institutions that charge their clients a set amount of money each time they want to write a check.

It is important to keep all of the above mentioned points in mind when searching for a bank. In addition to determining the cost of banking with a specific institution, you are also encouraged to examine the level of service that you will receive. You will want to do business with a bank that has a friendly and knowledgeable staff. By visiting the bank or calling to speak with an employee, you can easily determine the level of service that you should expect to receive.

Choosing a bank is not a decision that should be made on a whim. A bank is supposed to save you money, but without the proper amount of research it is possible to end up with one that costs you money.

Author: Joseph Kenny
Source: www.isnare.com

Banks - Why So Many?

Does it seem like there is a bank on every corner? It does to me. Everyone needs a bank and everyone's banking needs are different thus we see new community banks, state chartered banks and nationally chartered banks doting our landscape. Banking is a very personal activity and people constantly look for an environment that they feel comfortable in. The result seems to be another new branch of an existing bank or a new bank opening up on your corner.

What are your banking hot buttons? Is it the convenience, consistent customer service, familiarity with staff, product selection or maybe rates. Usually there are a combination of factors that will lead you to develop relations with a bank. If all banks met all needs there probably would only be about eight large banks in the country.

Banking can be a profitable business. It is federally and state regulated so it gives a certain sense of security to investors. The risk level is reduced so there always seems to be a good supply of investors available for start-up banks. Two key factors in the success of that new bank opening up down the street from you may be the leadership of that bank such as a CEO who is well known, respected and has a long-term successful community presence. The second factor would be a board of directors and investors that have a strong net worth, believe in the mission of the bank and make a personal significant investment. Staying power is key.

Many businesses and individuals follow their banker from bank to bank. Many times the path will lead to an existing or new community or small regional bank. Clients' desire for personal banking relationships continues to drive the opening of the new neighborhood bank. The advances in technology have allowed the new banks to play with the big boys and deliver the type of services that are being demanded by their clients. An example would be on-line banking which reduces the inconvenience issue.

There is a tremendous amount of wealth in the United States. That fact will continue to drive the expansion of existing banks and start up of new ones. The owners of that wealth constantly look for a combination of factors from their bank such as understanding their needs and meeting their service expectations. Demand will continue to drive the supply of new banks. Hence, a "bank on every corner".

Author: Bob Clifford
Source: www.articlesbase.com

Central Banks and You

Social issues of all forms plague one division of society or another at all times. Despite our natural inclinations to push blame and responsibility on others, turning to the government for solutions to social ills does more to damage society than heal it. Our nation began with the notion of strictly limiting the federal government to prevent authoritarian control centralized in few hands. The more people beg the government to take responsibility, the more power government gains. In an age of rampant externalization, no one seems to take responsibility for themselves anymore. Once apathy sets in at this level, massive government takes over and the people are led into slavery without even knowing it.

One of the best quotes about politics states that "The price of apathy is to be ruled by evil men." I quite understand this point of view because I see it clearly in our current government. Even worse, the root of the cancer in our government is not even a part of the government. The puppet masters that control the politicians operate in anonimity from behind a cloak of secrecy. I speak of the international bankers mostly, but the Bilderberg Group stands out as well. Since 1913, the government has been controlled by the powers behind the privately owned Federal Reserve Bank. The Federal Reserve creates all of the money for the government 'At Interest' and since the borrower is servant to the lender, the government is servant to the central bankers. 1913 marked the legalization of this system under the Federal Reserve Act, but America has existed under a debt based money system since 1863 when the National Bank Act was passed and international bankers gained control over the US money supply by issuing Bank Notes backed by US Bonds. This system enslaves the people and the government for if the government pays off its debt to the central bank, there would be no collateral to back the money supply and hence, there would be no money. All money is created out of debt under this system. Congress holds the express power to coin money as given by the Constitution, so enslaving the nation to a debt based money system amounts to treason against the Constitution. The scam is so obscure and confusing and holds up so well under scrutiny that no one individual could stand before historians as a traitor except the international bankers themselves. However, they wouldn't really be traitors because, by definition, they were not Americans. They were International Bankers setting up a private, for profit money system in the greatest nation in the world for the sole purpose of destroying its prosperity.

Having the government issue US Notes instead of US Bonds to back Federal Reserve Notes is not a radical solution. It's been done by five different presidents. This is the ONLY way to pay off the debt to the Federal Reserve without destroying the money supply. Fiat currency (currency by decree) is not the enemy. Debt based fiat currency is. Gold standards may belay many monetary problems, but it is not the final answer.

Pegging a US Note fiat money supply to the current census would also prevent inflation. So when the Fed speaks of inflation, what do they mean? Inflation is simply the expansion of the money supply by buying more US Bonds. How is this important to you and me? Dollars work the same as any other commodity. Supply and demand dictate the value. So as more and more dollars are pumped into the system, they become worth less and less. You can not save money because its value is eaten away by inflation. This is a hidden tax and amount to more collateral for the financial enslavement of every American. So, why don't they stop expanding the money supply? Because it's a hidden tax. The government gets to use the new money generated by the Fed before it is devalued. Also, as the national debt to the central bank grows, so do the interest payments. So, if the money is not inflated, the government would not be capable of paying the interest on the money in circulation. The system maintains an inflate or die polic. Even with this policy in place, there does come a point, even with inflation, where the dollar will be worth so little that the United States will become insolvent and have to borrow money from the Fed to pay the interest on the debt to the Fed. Once this occurs, it goes down hill fast. The international bankers have been at this scam for hundreds of years though, so I am sure that they have a plan for when the dollar is worth nothing. Could it be that when all the citizens of the nation are starving that the central bankers will swoop in with the Amero to save the day? This is typical propaganda used by international bankers to appear as the saviors whilst creating the problems they are 'fixing'.


Author: Patrick Bolling
Source: www.goarticles.com

Bank of America The Worlds Largest Financial Institutions

Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, online banking, investing, asset management and other financial and risk-management products and services. They are a joint of the Global ATM Alliance, a attachment venture of several major international banks that allows customers of the banks to use their ATM card or check card at another bank within the Global ATM Alliance with no fees when traveling internationally.

This bank now processes more transactions online than it does through all of its physical banking centers. However, when a bank tells its customers that its online banking system is safe and secure, most people would be shocked to find out otherwise. Bank of America the leader in online banking rolled out its Mobile Banking service to consumers nationwide in May. The service enables more than 20 million online banking customers to bank directly from their cell phone or smart phone with built-in security features.

The company offers securities underwriting and other investment banking services to corporations. Bank of America has recently spent $675 million building its US investment banking business and is looking to become one of the top five investment banks worldwide. They operates more than 5,700 branch locations from which the company offers investment, banking, and loan services to consumers and businesses. Bank of America, itself a product of several big deals to create a retail bank that stretched from coast to coast, has long desired to be an investment banking power.

Customers looking for the nearest Bank of America ATM or banking center through the new service are served with Microsoft Map Point technology. Customers can seamlessly use Map Point from their phone to find the most convenient bank location around town. Consider One of the world's leading financial services companies, Bank of America is committed to making banking work for customers like it never has before.

Bank of America is a coast-to-coast dominant bank with a powerful and complete consumer franchise. This financial institution is in business is to help make communities stronger and to help people achieve their dreams. They are committed to taking a leadership role in helping to make economic development and environmental protection compatible. They are a leading global provider of integrated working capital management and treasury solutions to business and corporate clients of all sizes, financial institutions and governments worldwide.

Author: Willie DeJarnette Author Ranking Blue
Source: www.articlesbase.com

World Bank

When poor countries become desperate for economic help, they turn to the World Bank for loans. However, these loans come with strings attached - the World Bank imposes certain harsh conditions on debtor countries to ensure that their loans will be repaid. The Fund's standard package is designed to "get the economy going again", but the consequences for the poor are catastrophic because the World Bank, to put it loosely, "encourages" more land to be put into exports (increasing dependence on costly food imports), wages to be cut, reduction in state assistance to the poor, and increased ease of access for foreign corporations. These policies are beneficial to the rich countries, but they have had such savage effects on poor Third World people that riots against the World Bank break out from time to time.

Far from progressing towards self-sustaining, economic growth, and prosperity, the Third World has fallen into such levels of debt that few would now hold any hope of repayment ($514 billion in 2007). Some countries now have to pay out most of their annual income just to meet interest payments on the debt. On top of that, the World Bank pays no attention to the environment by clear cutting unusable lands and destroying precious ecosystems, and have now be deemed responsible for a dollar amount of close to a trillion dollars in continuing destruction and wasted money during their "so called" economic projects that are always end up doing a lot more harm than good.

Established at Bretton Woods in 1944, the World Bank is the most controversial international organizations in the world today. This is due to the Bank's policies on the least advantaged countries of the world, which fall mainly in Africa and parts of Asia. More specifically, The World Bank, with their plan to "get the economy going again", demands "structural adjustment" and "conditionalities" to be met before any money is authorized to be sent out. Poorer countries have no choice because they desperately need the money to keep their country going. This is a mistake, because country ends up having little to no choice on how the money is spent. They end up with the money being put towards something they did not really need, or want, and it is usually useless to them. The country ends up being worse off then when they began; they have a bigger debt, a higher interest, and a project ex. (No short terms) (road / electrical system) that does them little to no good, and they still do not have a long-term solution to their economic problems.

As mentioned above, the term "Structural adjustment" refers to preconditions that the World Bank imposes before loans are made. These "conditionality’s" are based on market-oriented ideas that include devaluing the currency, increasing exports while decreasing imports, and decreasing social spending, among other requirements designed to ultimately balance the borrower's budget. This mode of operation was not envisioned to come from the World Bank. It was created as a specialized agency of the United Nations. The World Bank was designed to serve as a short-term lending agency to be able to provide a temporary balance of payment and debt because of World War II (or Two). But in the 21st century they have become more of a loan shark, then a friend.

Taken from the World Bank website, I was able to read about the diluted facts they have the nerve to put up (change wording). I summarized it as follows:

Last year in 2002, the World Bank provided 19.5 Billion US dollars to client countries around the world. The World Bank currently works in more than 100 developing economies, in which they bring different financial ideas on improving the living standard and target to eliminate the worst forms of poverty. For each "client" country, the World Bank works with government agencies, nongovernmental organizations, and private sectors in their quest to formulate effective assistance strategies. The World Bank itself, which is owned by more then 184 member countries, has a main focus on helping the poorest people and the poorest countries with emphasis on:

• Investing in people, particularly through basic health and education

• Focusing on social development, inclusion, governance, and institution-building as key elements of poverty reduction

• Strengthening the ability of the governments to deliver quality services, efficiently and transparently

• Supporting and encouraging private business development

• Supporting and encouraging private business development

• Promoting reforms to create a stable macroeconomic environment, conducive to investment and long-term planning.

In many countries in the world, hunger, poverty and things like illiteracy run rampant, since the opening in 1944, the World Bank boasts to be one of the key elements in the improvement of living standards in many of these countries. They boast to have made the lives of millions of adults and their children. In the last few decades, they have said again, to be a key element in the following:

• Life expectancy has increased from 55 to 65 years

• The number of literate adults has doubled

• The total number of children in school has risen from 411 million to 681 million

• Infant mortality has been reduced by 50 percent

When reading this, how could one not become sick to their stomach? To say that they have been a tool in the reshaping and helping (use different word) of these countries is an outright lie. But this lie, kept by World Bank, is held in high regard. The World Bank is overly concerned, unlike most other modern corporations, about its image. The World Bank gets its product; loans and credits, "out the door" at the rate of two and a half million dollars an hour. Most poor borrowing country clients don't much care how the World Bank is "perceived" so long as the money keeps flowing in to them. Whatever the appearances, these developing countries are not the World Bank's real clients. The target audience it must impress is in the rich North Western Countries, and will stop at nothing to do it. If the World Bank's image deteriorates too sharply, in the rich countries, because of lack of interest in different projects, it will sooner or later feel the pain in its purse and its power will consequently be diminished.

The ACG claim charges that the World Bank violated its policies and procedures during the preparation of the Arun III hydroelectric project. The ACG believes that there are alternatives to the project that are less expensive and less environmentally and socially damaging; and would have the advantage of developing hydropower more evenly throughout Nepal. While Arun III will be largely dependent on international contractors, a range of small to medium dams could be planned, built, and run by domestic companies. The coalition questions the relevance of undertaking a $1 billion U.S. project that is almost one-and-a-half times the annual national budget of Nepal. The claim against the World Bank submits that during the preparation of Arun III the World Bank violated its policy on economic evaluation of projects and other policies on energy, information disclosure, the environment resettlement, and indigenous people. "It's no exaggeration to say that Nepal's economic future is at stake, Nepal is a poor country and this mega project is completely inappropriate for it.

But the World Bank is ignoring viable alternatives that will meet our energy needs at a lower cost." Local hydro experts, including staff of the Alliance for Energy have been promoting alternatives to the Arun III project for many years now. The Alliance for Energy has put forward to the Bank and the Nepali government a concrete set of alternative proposals that include small- and medium-scale dam projects of up to 100 megawatts that could be developed in a number of river basins spread evenly throughout Nepal and could easily meet the growing demand for electricity. These projects could be developed and built in less time, than Arun III, and would have the advantage of providing electricity to rural communities. According to the Alliance for Energy, the alternatives would be less damaging environmentally because the proposed sites are already near existing roads. Sadly, even today, having Nepal's economic future riding on a thread, it is unknown what is going to happen with another one of the World Bank's blunders.

One final example is the problems that Africa has had with the World Bank in the last two centuries. Without going into greater detail, over the last 25 years, there have been failing projects after projects by the World Bank. Africa is at a point where people are using the term "continental bankruptcy" as an idea to deal with the detrimental economic problems. It now looks like there will remain a huge and escalating problem of multilateral and governmental debt for many low-income African countries. This is on top of the unilateral debts to private banks and governments. The World Bank, with this problem, has insisted that they not only have preferential status in debt repayment but also exemption from "default" or bankruptcy. Most people, around the world, think that the World Bank must be required to share responsibility with the borrowers or banks for failed and unviable projects and programs that they created. If the World Bank, who played the biggest part in Africa's current economic status, it would be the start of a very long road for Africa to ever get back on economic track.

Thinking back to my original question before making a decision, I asked myself, is the World Bank a friend or foe to the developing world? I think I would have to first expand on a statement made by the World Bank President Lewis Preston, after another blunder the World Bank made with the ravaging of India's Bihar Plateau. It sums up to me what the World Bank is really capable of, "Most of these projects have experienced implementation problems causing delays in disbursement and completion. Problems include delays in project mobilization and procurement, poor quality construction and maintenance of infrastructure (irrigation and rural roads), inadequate preparation and implementation of resettlement and rehabilitation plans for affected families."

After reading this, coming directly from the horse's mouth, and reading all the bad things that have come out of the World Bank, how anyone could not come to the conclusion that The World Bank really is a foe to the developing world is beyond me. They hinder and destroy the countries they try to "help" because they are unable to see the real picture. Developing countries need money to fund small projects to get going again, not huge projects, because the area in which they are building is still at a very low development level. Mostly, The World Bank is concerned about is getting funding, building and keeping power, and using the development of the less fortunate to their twisted benefit. With that, I feel, it is perhaps best to stay away from the 'help' afforded by the World Bank because their development strategies are often too aggressive and short-term and do not allow the fragile poor countries to gradually build up to their development expectations. It makes me sick that they use people in this way and then toss them aside and send away the bill. I hope that someday they stop getting all their funding and so other countries see that they are hurting people by supporting the World Bank, and making their own pockets bigger.

Author: Brain Haley

Works Cited

Abbasi K. The World Bank and world health. Changing sides. BMJ 2007; 318: 865-69.

Abbasi K. The World Bank and world health. Under fire. BMJ 2007; 318: 1003-1006.

Amos AF, McCarty DJ, Zimmet P. The rising global burden of diabetes and its complications: estimates and projections to the year 2010. Diabet Med 2007; 14 (Suppl 5): S1-S85.

Chale SS, Swai ABM, Mujinja PGM, McLarty DG. Must diabetes be a fatal disease in Africa? Study of costs of treatment. BMJ 2007; 304: 1215-18.

Decosas J. Developing health in Africa. Lancet 2007; 353: 143-44.

Gill GV. Outcome of diabetes in Africa. In Diabetes in Africa. Eds G Gill, J-C Mbanya and G Alberti. FSG Communications Ltd, Cambridge, 2008. pp65-71.

Jubilee 2008. The Debt Cutter's Handbook. ISBN 0 9528683 1 8. London, 2007.

The World Bank. World Development Report 2007. Investing in Health. Oxford University Press, Oxford, 2007.

Yudkin JS. Tanzania-still optimistic after all these years? Lancet 2007; 353: 1519-21.

Source: www.isnare.com

Types Of Bank Accounts

Did you know there are many types of bank accounts? Many people assume that checking and savings are the only valuable bank accounts available, but that is not always the case. For many people, checking and savings is all that is needed, but many other people need a more robust variety of financial tools. Let's look at some of the more common types of bank accounts.

The most common bank accounts are the checking accounts. A checking account uses paper checks and/or electronic funds transfers as its primary means of business. By opening a checking account you receive paper checks that can be used for a variety of purposes. Many checking accounts are free, but some may charge a small fee each month.

It is always a good idea to learn about any fees in advance of opening any type of bank accounts and this includes checking. Some institutions will also allow you the use of their ATM with your account. Other institutions may also allow you the use of debit cards which can be very handy. As with checking fees, make sure you understand if there are added charges for using the ATM or for using debit cards.

The next most popular bank accounts are the savings accounts that virtually all banks offer. With most savings accounts you can make deposits and withdrawals, the same as you might do with a checking account. Keep in mind, however, that savings accounts are normally not as flexible as checking accounts.

In some cases, you are only allowed to make a set number of withdrawals per month from your savings. It should also be understood that many savings accounts do not include checks which means you must visit the bank to get your money. The use of ATM's is usually allowed for savings bank accounts for both deposits and withdrawals.

Money market accounts are yet another tool that many people find useful. For the most part, a money market account pays higher interest on the funds that you deposit than a simple savings account, but there are also more restrictions on how and when you can get your funds when you need them. These bank accounts will normally have a minimum balance that must be maintained in order for you to get the higher interest rate. Also, you may find that these bank accounts have a very restrictive limit on the amount of withdrawals you can make each month.

Another financial investment tool that many people find beneficial is the certificate of deposit (CD) that many financial institutions offer. These particular bank accounts should be treated as investment vehicles rather than money-moving accounts.

All CD programs require a certain amount of funds be deposited into the account and you must also agree to leave the money in the account for a predetermined length of time. In exchange, the bank or credit union agrees to pays a higher interest rate on the money you have placed into the account.

In the event you withdraw the funds early you will most likely be charged a penalty fee. In some cases, you may be allowed to withdraw the interest that has accrued without having to pay the penalty fee, but this varies from institution to institution.


Author: Joseph Kenny
Source: www.isnare.com

Everything you Need to Know About Banking

Most of us know what a bank is. We know that in order to better manage our financial life; we should have both a checking and savings account at a minimum. We also know their services are similar across the board for most banks. Some of these services include:
• Accepting deposits
• Making auto, home, and business loans
• Reporting what you paid and earned
• Issuing credit cards
• Online bill payment
• Providing investments

The list can go on and on, but those are basic things most banks will offer. However, what vary from bank to bank are the terms and conditions. That is why everyone should consider their unique needs and then select the bank that best meets those needs.

Comparing Your Choices
There are national, regional, and local community banks around the country. These banks are further categorized into the following segments:

• Commercial Banks
• Savings & Loans (S&C)
• Credit Unions
• Mutual Funds and Brokerage Firms
• Virtual (Online) Banks

Commercial Banks
Commercial Banks serve both individuals and businesses. They typically have multiple, well-located branches throughout a region, and offer broad range of services. Deposits are FDIC-insured up to $100,000 per type of depositor’s account. The only con is that fees at these banks can be the highest.

Savings and Loans Banks (S&L)
S&L banks tend to have lower fees than commercial banks. In some cases, service can be better due to the lower number of clients at the especially smaller banks. Most are FDIC-insured. The only con would be that they sometimes require you inform them of a withdrawal you intend to make. They often have fewer branches; therefore you can rack up lots of ATM fees for using non-partner banks.

Credit Unions
Credit Unions typically have the lowest fees and loan rates because they are non-profit. Earnings are paid out to members at the end of the year. The main con is that as few as 1 or 2 percent happen to be federally insured. Like S&L’s, they often have fewer branches; therefore you can rack up lots of ATM fees for using non-partner banks.

Mutual Fund and Brokerage Firms
Mutual Fund and Brokerage Firms often offer very limited banking services with low-cost or free checking linked to some interest-paying money market funds. The most notable con is that they often require larger minimum balances and they are not FDIC-insured, but have private insurance.

Virtual (Online) Banks
Virtual Banks are all online, thus there are no branches. In many cases, they don’t even send paper statements. Clients are emailed their monthly statements to view or print from online. They are FDIC-insured. They have started to lose some of their appeal as many commercial banks and even credit unions offer 100 percent online banking. The primary con here is that there are a limited number of ATM machines. Thus, if clients can’t find partner ATMs they can pay lots of money annually in ATM fees.
Checking Accounts
A checking account is a service provided by most banks which allows individuals and businesses to deposit money and withdraw funds from an FDIC-insured account. The terms and conditions of a checking account may vary from bank to bank, but, in general, a checking account holder can use personal or business checks in place of cash to pay debts. Most checking accounts allow customers to withdraw their money using an ATM machine.

Almost all banks offer some form of checking account service to their customers. Some may require a minimal initial deposit before establishing a new account, along with proof of identification, and a physical address. Students or other lower-income applicants may opt for a low-featured checking account, which does not charge fees for the use of personal checks and other limited services. Other applicants who open traditional checking accounts may benefit from interest payments by maintaining a high minimum balance each month.

Checking Basics
A typical checking account will handle deposits and withdrawals. The account holder has a supply of official checks which contain all of the essential routing and accounting information. When a check is written, the account holder’s account is debited for the amount of the check. The account holder is ultimately responsible for keeping track of their available funds, even though the bank will issue monthly statements.

When a Check Bounces
Checks must represent an actual amount of money in the checking account. If a check is written for an amount higher than the available balance and the bank pays that check, then the account holder that wrote that check will face an overdraft fee and potentially legal action. Further, the recipient of the bad check may also incur fees if the check bounces. Then the writer of the bad check may owe fees to both his bank and the recipient’s bank.

The recipient of the bad check can demand immediate cash payment for the original debt as well as a substantial fee for the returned check. Some banks will protect checking account holders by making the proper payments and notifying the check writer that an overdraft has taken place. Most often the bank will recoup their losses through substantial service charges, so it pays to avoid writing checks when the balance is unknown.

Savings Account
We have discussed the importance of saving back in the section on saving. In this section we will discuss some savings account vehicles.

In the world of Savings Accounts, there are three primary vehicles: Standard Savings Accounts, Certificates of Deposit, and Money Market Accounts.

Standard Savings Accounts
Standard Savings Accounts often allow you to withdraw your money whenever you want without penalties. Though the interest rate is low (rarely above 3%), it is less risky and steadily grows.

Certificates of deposit (CDs)
CDs typically pay a higher interest rate than regular savings accounts. However, you have less flexibility to withdraw whenever you want to. If you withdraw too soon, you could be penalized and lose some or all of the interest earned.

Money market accounts (MMAs)
MMAs also pay a higher interest rate than regular savings accounts. Unlike CDs, however, you are usually allowed to write a limited number of checks or even make a transfer during each month assuming you do not go below your required minimum balance. If you do go below your minimum, you could be assessed fees or lose any interest earned, or both.

Debit Cards
A debit card (often referred to as a check card) resembles a credit card and provides an alternative payment method to cash when making purchases. The card is an International Organization Standard (ISO) 7810 card which is similar to a credit card; however, its functionality is more similar to writing a check as the funds are withdrawn directly from either the cardholder's bank account or from the remaining balance on a gift card.

Depending on the store or merchant, the customer may swipe or insert their card into a credit card terminal, or they may hand it to the merchant who will do so. The transaction is authorized and processed and the customer verifies the transaction either by entering a PIN or by signing a sales receipt.

The use of debit cards has become widespread in many countries and has overtaken the check and traditional cash transactions. It is very important to be mindful of what is spent by maintaining your check register.

Bank Fees
For both individual and business customers, the primary objective when selecting a bank is to save money. Therefore, knowing exactly what a bank is going to charge to up front can better help you select the account that works best for you. During this process, it is important to pay close attention to the fine print which often reveals hidden charges and fees. For example, if you opt for a free checking account at a smaller bank with limited ATMs, you may actually pay more in ATM fees throughout the month than you would have on monthly fees with a checking account at a larger bank with many local ATMs.

You should pay close attention to the fees that will affect you most. At most banks, the fees that will affect most customers include:
• ATM fees
• Debit card fees
• Stop payment fees
• Check printing feeds
• Overdraft fees
• Bounced Check Fees
• Monthly Checking Account Fees
• Check writing fees
• Balance inquiry fees
• Wire transfer fees

Choosing the right bank is an important financial decision. Be sure that you fully understand all of your banking options, products and services, and ultimately what your costs will be before you open an account.

Author: Kenneth Kelly
Source: www.articlesbase.com