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Why Banking Works – Financial Crisis

admin — Tue, 31 Mar 2009 12:50:06 +0000

When it comes to financial management, even business professionals reach a consensus as to what is the most effective, reliable, and secure means to manage your money, and that is through the bank. Your bank is an effective means to manage your bills payments, keep track of your transactions, receive your income and whatever extraneous cash inflow, and help you save effectively.

The last one is perhaps the most obvious feature of the bank that people do not take advantage of. A bank, being a financial intermediary, can actually help you save money efficiently. Heres how.

First, you are required to keep what is called a maintaining balance in your bank account. This means that even if you make deductions in your account, the bank requires you to save a bare minimum in order to continue enjoying their services. And yes, that translates to a forced saving on your part.

Another feature of bank saving is the fact that you are free to continuously add to your account whenever you can. Otherwise, your money will remain safe in your bank. Moreover, while its staying in the bank, you are actually earning interest rates on your money.

What are savings interest rates? These are payments made by the bank to you for leaving your money in the bank. By depositing your money in the bank, your bank utilizes a portion of it in its loan operations where it subsequently earns through interest and loan charges. In effect, the income they receive trickles down to you, their source of money. This savings interest rate is actually an effective incentive system. Why so? If you save more money in your bank account through your deposits and savings, you end up receiving a higher return on the savings interest rate than other people would.

Banks have a threshold amount for you to be able to participate in the banks long-term, higher yield savings schemes. Time-deposit accounts, mutual funds and the like require you to leave your money untouched for a longer period of time. In exchange for the banks use of your money for a longer period of time, the percentages of interest return are double those that you would get in a regular savings account. You can add increments of a certain amount in order to increase the capital you invest in your time-deposit account or mutual fund. An increased account obviously translates to bigger interest gains.

Talk to your local bank about their savings schemes. They offer various mechanisms to encourage us consumers to entrust their money to them. In a bank, your money is in a safe place, and it is growing while it stays there.

How To Find Errors In Your Bank Account

admin — Mon, 05 Jan 2009 03:50:46 +0000

Don’t lose hard earned Money. Chances are you are owed $1000′s by your Bank and you will never know!

If you want to find out how to stop the banks from taking advantage of you through errors and faulty systems, then keep your eyes glued to this page for the next 3 minutes; you are in for some shocking surprises.

The banks have probably already overcharged you many times this year without even knowing it!
I don’t know about you, but I work hard to pay off my mortgage as quickly as possible. Then to have the bank make mistakes and incorrectly take money from my account is not only unfair, but insulting.

Loan WatchDog can change all this. let them find all of your Banks errors and claim the $1000′s you are owed. Click here for more details: Find all my bank statement errors

I never considered it necessary to check the calculation of my bank statement. I didn’t think there would be a need. I couldn’t have been more wrong. Every day people are receiving bank statements in the mail for their mortgages, saving accounts, personal loans and overdrafts that they assume are correct, but they are totally mistaken.

I can’t believe how totally naive I had been, just accepting that the banks never actually made a mistake and my statements were 100% accurate. Now surely these mistakes are just tiny errors involving a few cents here and there? Well guess again.

Banks Are Making Mistakes On Accounts Just Like Yours …. Every Day.

Recently a major Australian bank found they had overcharged fees on 55,000 customer’s accounts and it totalled $52,000,000. That’s right $52 million dollars.

That’s an average of $945 for each person.

What I find pretty amazing about this is that the bank found the problem NOT the customers. That means that fifty five thousand people didn’t notice the best part of one thousand dollars missing from their bank account.

You may be thinking “I know I’d sure notice $1,000 missing from my account.” … but I am willing to bet you $200 right now that if you called those 55,000 people mentioned above they’d have said exactly the same thing before the bank informed them of the little blunder they made on their account.

So why didn’t they notice the $945 overcharges?

The problem is that bank statements can be difficult to read and are not always what they seem. Some of the errors are very difficult to locate if you don’t know what to look for.

Loan WatchDog can change all this. let them find all of your Banks errors and claim the $1000′s you are owed. Click here for more details: Find all my bank statement errors

Aussie Home Loans Again.

admin — Wed, 13 Aug 2008 03:49:57 +0000

Aussie Home Loans is an Australian home loan institution. The little fat guy saying “We’ll find you a better home loan deal or we’ll give you $300″ is so familiar to Australians, we would miss him if he ever went broke.

However, Aussie home loans, does produce the goods for people looking to save money on the next home loan or mortgage. How else could they say they will give you 300 bucks if they can’t find you a cheaper loan.

Here is some of what they claim:

We’re so confident that our Advisers can find you a better home loan deal we’ll give you $300 if they can’t. We call it The Aussie Guarantee*.

Using our specialist Mortgage Explorer comparison software they’ll search hundreds of loans from Australia’s lending lenders, including the big four banks, to find you a better home loan deal. If we can’t, we’ll give you $300.

So why not put Australia’s Best Mortgage Broker^ to the test today? You’ve got nothing to lose.

You can’t argue with that.

Aussie Home Loans has recently been named “Best Non Bank Financial Institution” at the 2008 Australian Banking and Finance Magazine Awards. With over 15 years experience they have developed their own range of competitive products to suit almost every situation.

So, do yourself a favour and check Aussie Home Loans out before you finalise your next home loan.