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Actual for You - Banking on Good Banks: Guidelines to Help You Choose the Right Bank for You
I had a discussion with Erik Lie about the experiences with Stock Options Backdating (SOBD) and the economic impact of his work. According to Erik, at least 15% of the stock options grants between 1996 to August, 2002,were backdated. Some were within 30 days of the grant date, others more egregious. The number of companies though he said that were going to come clean would be far less than 15%. Here is what we came up with.First the assumptions:1. # of companies that actually are investigated or
The question of whether to work for a company or run your own business is a difficult one to answer. It's a dilemma that many people face in the course of their lives. Sometimes it happens right at the start, as soon as they leave school. Sometimes the question crops up after years of working for a company. For so many people the time will come when such a decision has to be made. We take a look at some of the factors that create this dilemma and some of the solutions that can be found.Working for yours
This is okay but this is not applicable when we are considering things that concern the financial aspect of our lives - financing, refinancing, mortgages, insurance, investments and yes, even choosing the bank where we could save and store our money. Here are some guidelines you have to consider when you want to invest portions of your money into banks:
1. Location. When choosing banks, you have to consider their locations. If you see yourself visiting your bank or banks in a regular basis, then the best option would be to look for banks nearest to wherever you conduct your business or in your home.
2. Accessibility of ATM Machines. Choose banks where a sufficient number of their ATM machines are accessible to you.
3. In relation to number 2, check the functionalities offered by the ATM machines of these banks. Check if it has the following features: - Do the banks' ATM machines allow deposits to be made in it? - Do the banks' ATM machines printout statements about your accounts such as your available balance, etc.? - Do the banks' ATM machines enable a client to order a check book?
4. Telephone Banking. If you are one of those people who cannot go to banks during banking hours, then one of the features you have to look for in banks is the availability of telephone banking service. With this, you can make queries and transactions in your banks anytime, anywhere usually 24/7 all year. Telephone Banking allows you to do some of these transactions in your banks: - Transfer your money from your accounts in your banks to pay your bills - Telephone banking in banks enables cancellation and change of current orders - Check the balance of your account - Telephone banking in banks allows you to apply for other products or services from bank
Security like many sectors, keeps marketing people like myself busy communicating with stakeholders about the latest issues and changes that affect them. Just as I think things are on even keel, something new appears on the horizon that needs communicating. And then it changes, so I have to communicate it all again.Confusing enough for myself, but much more of an issue for people like yourselves involved in facilities management. For most of you, security is just one of many areas you are involved with
1. Location. When choosing banks, you have to consider their locations. If you see yourself visiting your bank or banks in a regular basis, then the best option would be to look for banks nearest to wherever you conduct your business or in your home.
2. Accessibility of ATM Machines. Choose banks where a sufficient number of their ATM machines are accessible to you.
3. In relation to number 2, check the functionalities offered by the ATM machines of these banks. Check if it has the following features: - Do the banks' ATM machines allow deposits to be made in it? - Do the banks' ATM machines printout statements about your accounts such as your available balance, etc.? - Do the banks' ATM machines enable a client to order a check book?
4. Telephone Banking. If you are one of those people who cannot go to banks during banking hours, then one of the features you have to look for in banks is the availability of telephone banking service. With this, you can make queries and transactions in your banks anytime, anywhere usually 24/7 all year. Telephone Banking allows you to do some of these transactions in your banks: - Transfer your money from your accounts in your banks to pay your bills - Telephone banking in banks enables cancellation and change of current orders - Check the balance of your account - Telephone banking in banks allows you to apply for other products or services from ban
You have heard the saying that "actions speak louder than words". It is so true, especially when it comes to business relationships. We talked about places to keep in contact with the Power of Ten in the last chapter, as a basis for doing business. This chapter is more concentrated on doing the work through commitment and follow-up. You cannot expect to keep a customer unless you provide them with excellent customer service. You may argue that price is also an issue but I believe that a person will not mind pa
2. Accessibility of ATM Machines. Choose banks where a sufficient number of their ATM machines are accessible to you.
3. In relation to number 2, check the functionalities offered by the ATM machines of these banks. Check if it has the following features: - Do the banks' ATM machines allow deposits to be made in it? - Do the banks' ATM machines printout statements about your accounts such as your available balance, etc.? - Do the banks' ATM machines enable a client to order a check book?
4. Telephone Banking. If you are one of those people who cannot go to banks during banking hours, then one of the features you have to look for in banks is the availability of telephone banking service. With this, you can make queries and transactions in your banks anytime, anywhere usually 24/7 all year. Telephone Banking allows you to do some of these transactions in your banks: - Transfer your money from your accounts in your banks to pay your bills - Telephone banking in banks enables cancellation and change of current orders - Check the balance of your account - Telephone banking in banks allows you to apply for other products or services from ban
Do you have more purchase orders than what you can handle? Is lack of financing preventing you from fulfilling those orders? One of the most frustrating things that can happen to a business owner is to turn orders away – good orders – because you don’t have the financial capacity to fulfill them.Of course, you can try to get a business loan. However, business loans have their limitations as business financing tools. They are hard to get and have arbitrary limits, so they don’t grow with your business.chines allow deposits to be made in it? - Do the banks' ATM machines printout statements about your accounts such as your available balance, etc.? - Do the banks' ATM machines enable a client to order a check book?
4. Telephone Banking. If you are one of those people who cannot go to banks during banking hours, then one of the features you have to look for in banks is the availability of telephone banking service. With this, you can make queries and transactions in your banks anytime, anywhere usually 24/7 all year. Telephone Banking allows you to do some of these transactions in your banks: - Transfer your money from your accounts in your banks to pay your bills - Telephone banking in banks enables cancellation and change of current orders - Check the balance of your account - Telephone banking in banks allows you to apply for other products or services from ban
The power of attorney is granted to a trusted agent, who will have the permission to act on your behalf. The role of the person granted the power of attorney extends only to the powers you grant him. You can choose many kinds of power of attorney roles for your agent, either to sell your property, to oversee your business, negotiate on your behalf, or even implement the terms of your will posthumously.The power of attorney clause becomes void when you become incapable of administering to your business a
5. Internet Banking. Internet banking features in banks also allows the following services offered by Telephone Banking wherein transactions and inquiries can be done via the Internet through the Internet portals of these banks.
If you are a business person and you need a bank or banks for your small business, here are some other aspects and guidelines you have to consider when choosing the right bank/banks for you:
1. Aside from the first general consideration on the location of the banks, you have to consider if the banks understand the nature of the business you are involved in.
2. Consider also if some of the banks will be able to allow you to deal with the senior employees/executives in the bank. This way, problems concerning your business banking needs will be addressed easily.
3. Check banks that offer SBA - Small Business Administration - Loans. This can help you should different needs arise in your business that will compel you to make a loan.
4. It is good to consider banks where the capitalization rate is greater than six percent. This will ensure you that the banks you will be working with will still be present while you are still in business
5. Consider the competitiveness of the banks by checking how much they charge for every transaction you make.
6. Aside from these, check also the competitiveness of the interests and other fees that come with their credit cards.
7. Check the stipulations on balances for checking accounts that bear interests.
8. Check if the banks you are considering are members of the FDIC - Federal Deposit Insurance Corporation and the Federal Reserve Bank and lastly,
9. Look for banks that are capable of giving service that you an
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