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Online Banking on a Holiday

Douglas — Mon, 16 Jan 2012 11:00:27 +0000

The Online Banking on a holiday schedule for 2012 is not the same as the schedule for the branch offices. Unlike the brick and motor branch offices, the online banks do not have to be manned by real live people for you to conduct your money management business. This allows you to handle your personal finance so you can invest your money even when all of the bank employees are on holiday.

The banks follow the federal holiday schedule. For the year 2012, the following list has been released.

Monday January 2^nd is New Years Day. Monday January 16^th is the Birthday of Martin Luther King Jr. Monday February 20^th is Washington’s Birthday. Monday May 28^th is Memorial Day.

Wednesday July 4^th is Independents Day. Monday September 3^rd is Labor Day. Monday October 8^th is Columbus Day.

Monday November 12^th is Veterans Day. Thursday November 22^nd is Thanksgiving. Tuesday December 25^th is Christmas.

While some of these dates are off by a day, the federal Government has passed laws to ensure the federal holidays are the same number each year. For this reason if the holiday falls on a Sunday, the official holiday will be the following Monday. If the holiday falls on a Saturday, the official holiday will be on Friday, the day before.

There are some states and local governments that have renamed Columbus Day. Immaterial of the name October 8^th is a holiday.

Most banks take off all the federal holidays just as most schools do. For the rest of the working population there are only 6 holidays we are paid for that we do not have to work. This included New Years Day, Memorial Day, Independence Day, Labor Day, Thanksgiving and Christmas.

For additional resources involving financial help, please view Current Trend in 30 Year Mortgage Rates with Online Banking January 2012 on this website.

We strive to bring you the latest and most accurate data possible from the home sites of the financial institutions we name. Always remember, the bigger the risk, the larger the reward or loss. Invest with caution.

Online Banking, Bankruptcy and your Retirement Savings

Douglas — Mon, 26 Dec 2011 11:00:10 +0000

What you should know about Online Banking, bankruptcy and your retirement savings so you can best handle your personal finances. The number of American’s that had to file for personal bankruptcy in the past couple of years has risen. Unlike the large financial institutions that were bailed out by the federal government, you are held responsible for your debts.

Under the last Bush administration, there were laws past to make sure each individual where held responsible for the money and investment s they made. You can no longer just file for bankruptcy and escape most of your financial obligations.

Luckily the Supreme Court has also help the individual by adding protection to the law for the individual retirement accounts of Americans. This added layer of protect exempts up to one million dollars of your saving and investing of your money that has occurred in IRA’s And Roth IRA’s.

This makes it possible for this money you have saved for your retirement to be safe from any creditor attempting to take it for debts you owe. This protection is made so you can have the money you planned for in your golden years. It is also protection for the government. By allowing each person that files for bankruptcy to keep the first million they have invested, they will be less likely to need the full assistance of the government in those years of their lives. This allows for a person to also continue continuing to contribute with the current bank rates to these accounts and safeguard their future.

This is another great example of just how the US Government is willing to help the American citizens as long as it also helps the government from having to provide any additional services to them.

For additional resources involving financial help, please view Online Banking for December 2011 on this website.

Online Banking for December 2011

Douglas — Fri, 23 Dec 2011 11:00:13 +0000

Online Banking for December, 2011 is the way more and more Americans are doing their financial money management. This is important especially with all the holiday spending that is occurring.

While in the past many Americans used their online bank accounts for investing purpose of their money, it is the management end that is important right now. With most financial institutions, you can look at current and past transactions so if there is a pattern to your spending habits is can be noticed and rectified if you are spending more than you are making.

It is true that most people are not financial wizards, but with the assistance of the online banking services your local bank is offering, you can learn to spend your money more wisely so you can keep more of what you make. Because you can do this type of banking in the privacy of your own home, you can take all the time you need to learn what you can about how to manage your money in a manner that best suits your income and needs.

By taking the time now to begin using your online bank accounts to your advantage, you can make the decisions necessary to keep all of your accounts in the positive even during this high spending time of the year. By preventing your accounts from being overdrawn, you will save money by avoiding the assessing of fess to these accounts. This is important especially with the credit cards because that could change your APR’s to over 30% interest rates in some cases.

Managing your bank accounts all year long is important, but it is most challenging with Online Banking for December, 2011 because of all the presents you are purchasing for your family. Do not overspend so you will not have a crisis in January, 2012.

For additional resources involving financial help, please view Countrywide effect on Bank of America and their Online Banking for December 2011 on this website.

Bank of America and Online Banking for December 2011

Douglas — Wed, 21 Dec 2011 11:00:37 +0000

Bank of America and Online Banking for December, 2011 have taken another hit. No one is really sure if this is the continuing fallout from all the greed this large financial institution has been exposed of having or if it is a normal cycle.

On Monday, December 19, 2011, a share of Bank of America stock dropped to below $5.00. At the closing bell the final number was $4.92 a share. This is the first time in over 2 ½ years this had occurred. With the drop in value of its share process, the corporate giant seems not to be such a good investment anymore. This drop might not be over, but for the year 2011, Bank of America stock has lost 63% of its value.

The leading concerns from investors are if this giant amongst banks can meet the new international standards set forth by the FED Reserve for being financially sound. There are still concerns over what triggered their last fall from grace, the mortgage debacle and the losses they still have to absorb from that.

When it comes to investing your money, Bank of America is no longer a sound investment. There are numerous other online banks that are fairing much better and have better bank rates. The days of the financial giants ruling the world of commerce may be over. As an American consumer, I feel this is a good thing.

One thing is for certain, if the US government decided to again bail out this bank, the people will be in an uproar. It is time for the handouts to end to corporate America and time for the people to receive help.

For additional resources involving financial help, please view Will the price of Gold affect Online Banking for December 2011 on this website.

Is a Yearend Market Rally Realistic

Douglas — Tue, 29 Nov 2011 11:00:32 +0000

Is a yearend Market Rally Realistic? The Chief US strategists for JP Morgan, Tom Lee thinks not only will the stock market rise but a rally of 1,350 points will be achieved. It current position is 11,523 at the close on November 28, 2011. This was up 2.59% from before the closing bell for the Thanksgiving holiday.

This announcement of a year end stock rally by the Mr. Lee was made October 14, 2011. Since that point the market has dropped 9%. His beliefs are that it will be the US corporate machine that will make this rally a reality. As for the US consumer and their personal financing of investing their money with their Online Banking is not part of the picture.

It’s beginning to sound like Mr. Lee is becoming a cheerleader from Wall Street who is hoping the corporate world is listening and will react as he desires. With Gold currently at $1,713.60 an ounce his prediction does not seem to be too sound. Gold hit an all time record of $1,900.30 this year back in August and has only retreated a little bit since then. This is the place people and corporations invest in when the markets are a roller coaster of uncertainty.

If you trust Mr. Lee then you can use your online bank accounts to fund an investment, but the certainty of your investment growing is not in your favor at this time. Faith in the markets will not occur until the job situation in America takes a turn for the better. While the US consumers are spending for the holiday’s it does not mean that the recession is over and the corporate world can go back to attaining huge profits again.

Once the bank rates return to better and higher levels will be the best sign that the economy has made a turn for the better, not some cheerleading from a NY corporate executive that is only worried about his pocketbook.

For additional resources involving financial help, please view Black Friday’s and the use of Online Banking on this website.

New 401k Rules on Advice

Douglas — Fri, 28 Oct 2011 11:00:05 +0000

The new 401k rules on advice have been issued by the US Labor Department on October 24, 2011. The one that affects both the 401k advisors and investors both is how fees can be obtained by the advisors for the plans they offer those asking them for advice. This is different from the past where an advisor could receive no compensation from the investment companies for offering an investing advice to their clients.

To qualify for this the funds being offered for the investment of your 401k money must have a compensation level no matter what particular investment the client chooses. When a computer model is used for the selection of the investment, a third party advisor must also certify the investment.

Investors can use any Online Banking service for advice they wish to obtain the best bank rates as before, the main difference is that the 401k advisors for your plan can now receive compensation from the investment companies as a gratuitous for offering them to you.

The worry in the past was that by allowing the advisors to receive compensation, they might try to influence those investing their 401k money to choose particular types and styles of investments for their retirement plan. By allowing the same compensation to be rewarded to the advisor no matter what the retirement investment is, there should be no worry about influencing a person to make a particular type of investment so a larger compensate can be received by the advisor.

The Labor department has done this in the hope that investors will now make fewer mistakes when it comes to where they will place their 401k investment money. Individual investors can take the advice being offered or look at what is available from the many online banks. Either way it will be to them what they decide to do with their retirement funds.

For additional resources involving financial help, please view The Crisis in Europe and their Debt Problem on this website.

Debit Card Charges with Online Banking Accounts

Douglas — Fri, 30 Sep 2011 11:00:34 +0000

The debit card charges with Online Banking accounts are going thru another change prompted by regulation set in place by the government. In October of 2011 new regulations on how much a bank can charge a merchant per transaction when a debit card is used will become active. This new law was the Dodd-Frank Financial Regulation that was passed by the US congress earlier this summer.

The lowering of this fee from $0.44 to $0.24 will almost cut in half the amount of pure profit the banks had been making for allowing this service to occur. In 2009 the US banking industry made over $19 billion in profit from this income source.

The response from the US banks is that the cost of allowing the use of debit cards for transactions is too great and this new law means another source of revenue will have to be found so the banks can keep their profit margin as high as it was.

This new source of income is now being introduced by the financial giants of America. Bank of America will start to charge their customers that use their debit card for transactions a fee of $5 that will be assessed to their checking account. Wells Fargo has also begun to institute a $3 for their customers along with Chase in selected markets. Also on the list of banks who are now charging a fee for using a debit card are SunTrust with a $5 charge and Regions Bank with a $4 charge.

The big banks that have decided against adding an additional fee to personal accounts are Ally Bank and Citigroup at this time.

It is clear now that the America consumer is use to using a form of plastic to pay for items, investing their money or any other type of transaction that the financial giants want a piece of it. These online banks and their greed have already caused one financial disaster, so what is next?

The bank rates being offered for choices by the large banks for the personal finances options are not good. This is not about to change any time soon. The debit card charges with Online Banking accounts is just the first of many new ways the banks are planning to sap the money out of the hard working people of America.

For additional resources involving financial help, please view budgeting with the help of online banking on this website.

Budgeting with the Help of Online Banking

Douglas — Thu, 29 Sep 2011 11:00:06 +0000

Budgeting with the help of Online Banking is not only possible but easier. The first step is to get over the negative connotation of the word budget that most people have when it comes to their personal finances.

A budget gets a bad reputation since most people conceive it as what is preventing them from obtaining their impulse buying items. These items are the little things we reward ourselves because we think we deserve them but not necessarily need them. This is true, but saving money for larger more expensive items does take a certain amount of discipline which a budget brings.

The online banks help with the budget by giving you the option to pay your bills online. This way they can be scheduled so the payments will be made on time every time. This has two benefits to it. Not only will your budget have an increased spending power of about $50 a year, depending on how many bills you have. This savings made on not having to use the postal service for the delivery of your payments.

The second way this will save you money is by not having to pay any late fees all year. In a worse case scenario this can be as much as $100 a month. By combining these two money saving practices can total over $1250 a year.

It is also less painful to pay the bills this way since you will not see the money since it is electronic, the old saying out of sight out of mind. This will reduce the stress on a person each month when the bills are due. By not having any late bills, the stress on a family will be even further reduced.

While you might not have enough money for investing purposes, you can find the best bank rates for your checking accounts and savings accounts so you pay the smallest amount of fees and possible gain some interest.

Budgeting with the help of online banking takes the approach that every little bit counts when it comes to money. With patience you will have the money for the things you want after the payments for the items you need are taken care of.

For additional resources involving financial help, please view Can Online Banking Help the Working Poor on this website.

Will Online Banking be the only Form of Banking Available in the Future

Douglas — Fri, 16 Sep 2011 11:00:10 +0000

Will Online Banking be the only form of banking available in the future? This is a real possibility with the financial institutions of the nation and world seeking profits at any cost. This has come into the realm of possibilities not only because of the quest for higher profits by the financial world but the demise of the real world mail delivery services as a precursor.

Since 1639, there has been a form of mail to the citizens living on this continent of which later became America. At first it was just a coffee house or tavern that was used. This was the same method being used in Europe at the time.

In 1775 the US Continental Congress appointed a Postmaster General for the United States. Since that time there has been a physical mail system in America. The post master general’s position paid $1,000 annually. Now fast forward to 2010 in which the US Postal Service lost $85 billion.

To help save money and return the postal service to profitability some 3,700 post offices are slated for closure along with the elimination of Saturday service.

With the physical mail being reduced, the reliance on emails will continue to grow exponentially. Who would have thought this could happen when email began just over a decade ago. Is this what is next for the online banking industry to replace the brick and mortar establishments.

Today there are already online banks in which you can use your money by electronic means for investing or deposits. With the downsizing of banks physically but growth in their online banking systems, the trend is very clear, to make the most money they can with as little staffing as possible. There are already some financial institutions that charge an extra fee for using a teller at their branch offices.

To find the best bank rates and best bank accounts, going online is the leading path for the American consumer. Soon it might be their only choice.

For additional resources involving financial help, please view Are the EuroZone woes a Problem for Online Banking on this website.

Retirement in the Age of Online Banking

Douglas — Thu, 08 Sep 2011 11:00:46 +0000

Retirement in the age of Online Banking has changed more than many baby boomers have realized. They have known for a long time that their financial situation will be vastly different than the generation before them.

When it comes to investing your money today, the old main stays are no longer as valuable as they have been in the past. With home values continuing to fall and the market for selling most homes do not exist, this security blanket is virtually gone and no longer available to those that need to sell for a financial emergency.

The use of online banks has increased but this just made it easier to obtain the best bank rates on certificate of deposits and other types of investments. With the FED keeping the interest rates artificially low for years now, this style of conservative investment is not even earning the retiree the same as the inflation rate. For this reason right now most are losing money without even spending any.

The saving accounts are in the same situation as the CDs with low interest rates even a slight level of inflation takes away all of your return on investment. Even with the old plan of using a CD ladder is not advantageous with the average 5 year CD rate hovering around 2%, inflation again will take away any kind of earnings.

The one advantage the new retirees and those getting close have is instance access to their funds with online banking. This allows for them to invest in stocks, bonds and any other type of investment when they chose to without having to physically visit a broker. This also increases the risk of a loss since most Americans are not financial suave.

One thing is for sure that with Retirement in the age of online banking, you cannot do any worse than the experts. Most of them also lost their investments in this last financial crisis.

For additional resources involving financial help, please view The Financial Health of Online Banking on this website.

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Online Banking on a Holiday

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