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Get a Loan with a Little Help from Your Friends

Bank Insider: When most individuals look for a loan, they traditionally turn to banks in order to gain access to the money they need. Lately though, banks are not giving loans as freely as they once had thanks to the recession woes the nation has been experiencing. Additionally, the process of dealing with a bank for a loan is a long and drawn-out process that takes time and can cost a lot of money in the form of interest charges. Where to Turn Outside of the traditional bank lending scenario, social lending networks are seeing an increase in interest from consumers looking for financ...

Bank Expert on July 18, 2010 0

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Sprint Receives Higher Customer Service Ratings from ACSI

Bank Insider: Sprint Nextel Corp (NYSE: S) has significantly improved their customer service rating on the American Customer Satisfaction Index this year. During the last several years, Sprint customers were relatively dissatisfied with their service compared to what the company’s competitor’s customers rated their wireless providers. The American Customer Satisfaction Index measures customer expectations, complaints, loyalty, perceived value and perceived quality and calculates a score between 0 and 100. In 2008, Sprint received a score of 56, meanwhile AT&T, T-Mobile and Verizon all recei...

Bank Expert on June 25, 2010 0

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Citigroup, Inc Says that Global Equities have Peaked

Bank Insider: Citigroup, Inc (NYSE: C) Private Bank Global Chief Investment Officer Richard Cook said that global equities are set to fall as countries around the world end their stimulus measures which will result in a slowdown of economic growth. “It’s highly likely that markets have already peaked,” commented London-based Cookson, whose company has more than $220 billion of assets under its management globally, at a press briefing in Singapore. “Earnings growth estimates next year are still double digit. That’s going to be a stretch.” The MSCI World Index is up about 80% from a 13-year ...

Bank Expert on June 25, 2010 0

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OneWest Bank CEO Leaves Company to join Bank of America Corp

Bank Insider: OneWest Bank CEO Terry Laughlin is leaving the California-based lender to join Bank of America Corp (NYSE: BAC), a Bank of America official confirmed Tuesday. Laughlin told OneWest about his plans to leave the company on Tuesday. Laughlin will stay on with OneWest during a transitory period. OneWest, which grew out IndyMac, a failed California lender, is beginning a search to find a new CEO. Laughlin will be joining Bank of America Corp (NYSE: BAC)’s home loans business as credit loss mitigation strategies and secondary markets executive. He will begin his new position in July and repo...

Bank Expert on June 25, 2010 0

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Discover Financial Swings Q2 Profit On Increased Volumes

Bank Insider: Discover Financial Service (NYSE: DFS) announced Thursday that it returned to profitability in second quarter as volumes increased with customers using their card more often. A continued decline in delinquent accounts also helped drive results. The credit card company said it had net income of $184.6 million, or 33 cents per share. That compares with a net loss of $148.9 million, or 31 cents per share in the same period a year ago. “Our very strong results this quarter were driven by a significant improvement in the credit performance of our loyal customer base along with continued so...

Bank Expert on June 25, 2010 0

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Banking Brochures

Bank Insider: If you are in the banking industry, then you should really be familiar with printing brochures.Brochure printing is one of the prime investments a bank should go forin terms of promoting their services. However, did you know thatbanking brochures have very specific parts that make it different fromother brochures? If you don’t know about these important parts, thenyou should try and learn them now. Making the best and most effectivebanking brochures is crucial in getting new banking clients. To helpyou achieve this, we have listed the important parts of bankingbrochures below. Remember th...

Bank Expert on June 11, 2010 1

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Banking and Financial Services

Bank Insider: Banking and Financial Services Nowadays, Banking and Financial Services are an essential part of everyone’s life. Every day people use different types of banking and various financial services. Some examples include paying utility bills or insurance premiums, shopping online or through Debit/Credit Cards. These technology driven banking and financial services have simplified transactions and made life easier. Why Banking and Financial Services? No one is left untouched by the impact of money. We all have to rely on banking and financial service prov...

Bank Expert on June 11, 2010 0

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How to Choose a Financial Planner

Bank Insider: Financial planners advise clients on how best to save, invest, and grow their money. They can help you tackle a specific financial goal—such as readying yourself to buy a house—or give you a macro view of your money and the interplay of your various assets. Some specialize in retirement or estate planning, while some others consult on a range of financial matters. Don’t confuse planners with stockbrokers — the market mavens people call to trade stocks. Financial planners also differ from accountants who can help you lower your tax bill, insurance agents who might lure you in with co...

BanksGuru on June 9, 2010 0

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Credit Unions: A Better Bet Than Banks?

Bank Insider: Interest rates are low and could be heading lower. Bank failures are on the rise. And credit unions couldn't be happier. With their fatter yields and lower fees, credit unions are having little trouble attracting depositors these days. Many also are positioning themselves as a more wholesome alternative to Wall Street bailouts, bank seizures and predatory lending scandals, offering trustworthy advice and good customer service. Samantha Johnson and her son Jeremiah at home in Madison, Wis., She recently switched her checking and savings accounts to a credit union. As with banks, credit...

BanksGuru on June 9, 2010 2

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ATM Cards and Foreign Transaction Fees

Bank Insider: Experienced travelers find that ATM cards are the best way to deal with getting money in Europe. In general, getting cash from an ATM machine is cheaper than getting it from travelers checks (and much faster), and is usually cheaper than charging your small purchases on a credit card. You can (and should) get information on what your ATM card charges for foreign monetary transactions from your bank right before you go. Charges to look for: foreign exchange fee (usually expressed in %) and charges for "foreign" ATM use (a per transaction charge for using an ATM not associated with the bank)....

Bank Expert on May 18, 2010 0

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Bank Failures

Bank Insider: Banks are the safest place to keep your cash. Nevertheless, bank failures happen from time to time. Here's a look at what causes bank failures and what you can do about them. The main thing to know in a bank failure is that your money is probably safe. If your money is FDIC insured, you probably don’t need to panic. What Causes Bank Failures? Banks go under when they are no longer able to meet their obligations. They might be unable to pay the bills, or a bank failure may arise because they can't provide cash when depositors demand it. What Happens in a B...

Bank Expert on May 18, 2010 0

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Best Bank Perks

Bank Insider: As the economic rebound continues, banks now find themselves in a position where they must attempt to win customers back. Therefore, many retail, community and online banks are vying for your business. While some institutions will no longer even offer you a free toaster, these banks are handing out cold, hard cash. Here are a few of the banks that are offering the best perks for new accounts. • Bank of America The nation's largest bank is offering $100 to new customers that open a MyAccess checking account online. What's the catch? The account must be funded with a min...

BanksGuru on May 5, 2010 0

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Chase To Add 90 Bank Branches in California in 2010

Bank Insider: LOS ANGELES, (BUSINESS WIRE) -- Chase announced today that it will continue its investment in California by opening about 90 new branches and adding more than 1,200 new jobs to better serve California bank customers in 2010. The new branches will extend Chase's network to more than 800 bank branches and almost 3,000 ATMs across California. Chase will open more than 35 new branches in Northern California and almost 50 new branches in Southern California. This breaks out to more than 10 branches in Sacramento, San Francisco, Los Angeles and San Diego counties while adding a significant n...

BanksGuru on April 29, 2010 0

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Mobile Banking on Your Fingertips

Bank Insider: Mobile banking basically refers to the availability of banking services on one’s mobile phones. Mobile banking services may be broadly classified into two broad categories: Mobile payments and mobile information services. Mobile payments include utility bill payments, cash transfers, payments to vendors, etc. Mobile information services include balance updates, transaction updates, etc. These are also at times offered to top customers as separate services, exclusive of mobile banking. Mobile banking has been growing at a rapid pace, especially during the last few years. With banks increas...

Bank Expert on April 26, 2010 0

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How To Avoid Bank Account Fraud

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Bank Insider: Unfortunately, there are many people all over the world who use their creativity and imagination to think up new ways of conning other people out of money, property or other assets which have a monetary value. As new security measures get developed to check and prevent fraud, these scammers get busy thinking up ways to beat these ‘foolproof’ systems! Essentially, what it means is that if there is money to be made the easy way, i.e. by cheating or committing fraudulent acts, these conmen will find that way! After credit card fraud, identity theft, Social Security fraud, etc; scammers have n...

Bank Expert on January 26, 2010 0

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How To Amortize Your Mortgage

Bank Insider: If you are considering buying a house, you will have to figure out, first, how much you can spend? If you are not buying the house straight out with cash, then you will need to seek a mortgage. Most mortgages are amortized loans, meaning they are made up of payments that go toward reducing the principal as well as paying off interest. Read below for more information on amortized loans-the most popular variety of mortgages these days. What is amortization? Amortization is paying off a predetermined amount (principal) plus interest over a fixed period of time. At the end o...

Bank Expert on January 26, 2010 0

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Payday Lending vs. Bank Overdraft Fees

Bank Insider: It is apparent from reading the newspapers and browsing the internet, that payday lending has a lot of critics, and receives quite a bit of negative publicity. The arguments they make against the industry are that the interest is outrageous, that they prey on the poor, uneducated masses, and that they trap people in a cycle of debt that they cannot get out of, except through bankruptcy. Let us examine these arguments a little closer. A common argument is that the interest rates on a payday loan are extremely high, usually around 500% - 600% APR. The first problem here is that while payday loa...

Bank Expert on January 18, 2010 0

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New Bank of America Mortgage Refinance Programs

Bank Insider: Bank of America has new mortgage refinancing options available thanks to President Obamas stimulus plan. This plan is designed to help struggling homeowners get a better mortgage, save money, save their home from being lost, or all of the above. Bank of America is one of the only mortgage lenders or banks who can offer this plan to homeowners. Here are some things you should know. Bank of America has a proven track record and is one of the largest, most well known, and used, banks in the mortgage industry. They are one of only a select few who can offer the stimulus plan options to homeowners...

Bank Expert on January 18, 2010 0

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Understanding the Various Types of Banks

Bank Insider: Banking has changed in many ways through the centuries. The oldest forms of banking were often simple loans issued to businesses to purchase their goods. Once the goods were sold, the lender collected the money for the loan with interest. Today's banks have diversified their services and products, with the goal of providing fast and efficient service. By putting a community's surplus funds to work through deposits and investments, banks are able to assist individuals in purchasing cars and homes, start businesses, send children to college, and countless other advantages. These activities cond...

Bank Expert on December 28, 2009 0

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Most Common Banking Definitions

Bank Insider: Banking definitions to know in a society that needs money to purchase many of the necessities of life, banking is a very important business. It primarily deals with finances and all the instruments related to credit so it is important to know the important banking definitions. Banks are the financial institutions that act as the instrument in transferring monetary values from a customer to a seller, merchant, or to another individual. We see a lot of banks and sometimes we may wonder what they have in common and how do they differ from each other. Banks have been differentiated according to t...

Bank Expert on December 25, 2009 0

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