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Monthly Archives: January 2017

Tips to be Safe Instant Money Transfers

The instant money transfer uses swift transfer protocol to send money securely across the globe. Not only is this easy money transfer but also effective, as the beneficiary does not need to have a bank account to receive the payment.

Recognize imposters: Often, strangers pose as officials, friends or family; for example: a bank official or a company that you usually associate with. It cannot be stressed enough to never transfer money or discuss personal information when requested via a text, phone call, or email.

It is also important to not trust your caller ID, in a distress message by a loved one to transfer money. One must always call and confirm if the individual is an imposter.

Recognize Fake offers: There are million of spam messages, lotteries, lucky draws and job offers that can find your information and offer you a lucrative deal for a mere sum, which may not seem steep. Never transfer money to anyone offering you a huge sum of money as these are most often frauds. Always call and confirm from the organization they pose to be affiliated with.

Review the Internet: Always evaluate the request or offer received on the search engine of choice and search for keywords like “complaint” or “scam” or more particular to your situation. One can even search the phone number or account details to see any linked frauds.

Set appropriate passwords: Always make sure the passwords on your computer, mobile phone, and other smart devices are secure and not common. As in the case of theft or misplacement of devices, one many try to use net banking details or mobile wallet to make transactions. Never share your passwords with strangers and keep changing the same periodically.

You can get Risks of Money Market Accounts

Start with the riskiest kind of investment: stocks. With a stock, you are literally buying a small piece of a company. The price of that company’s stock is usually tied to its earnings growth. However, there are many other factors affecting a stock’s price that have nothing to do with the company itself. Outside risks could be generated from the economy, from economic policy, from fiscal policy, from unforeseen events, from…just about anything. Investors, however, are usually rewarded for taking this risk. They could lose all their money, but in exchange could also multiply their investment several-fold.

Bonds allow an investor to loan money to a company. All the same risks apply to bonds that they do to stocks, but with a few differences. A company must pay its obligations to bondholders before any other investors. If the company goes bankrupt, bondholders are first in line to take control of any remaining assets. This all translates to less risk, and therefore less return. Corporate bonds may return anywhere from 3% to 10%, depending on the financial health of the company.

Government bonds are next on the scale of risk. Because the federal government is highly unlikely to default on any payment to its lenders (such as investors who purchase government bonds, known as Treasuries), there is virtually no risk attached to these bonds. The longer the maturity of the bond, the higher the interest rate. This is because an investor should be rewarded for tying up his money for a longer time, and because there is a theoretical risk that the longer the loan, the greater the possibility of default. 30-year government bonds yield 3.35% right now, while 5-year bonds yield 0.95%, and 1 year bond yield a tiny 0.08%.

Certificates of deposit are vehicles where an investor loans a bank money. It’s a bit like investing in a bank bond. The bank gets to keep the money for a set period of time and, like a government bond, the longer the period, the higher the yield. However, because these loans are guaranteed by the FDIC, the investor is taking on negligible risk. Therefore, he’ll get negligible return. Yield is really just tied to maturity. You may find that a higher investment also yields a higher return. To compare to government bonds, a 5-year large-balance CD pays around 2.2%, whereas a 1 year CD pays about 1.2%.

Bank checking and savings accounts are at the bottom of the risk scale. They are FDIC insured, and yield about the same as a 1 year government bond.

What is a money market account? Money market accounts are a happy medium for many investors. Because they are FDIC insured, they offer virtually no risk whatsoever. Nevertheless, they offer competitive yields. A large-balance money market account yields around 1% annually, the same as a five-year government bond! In addition, whereas CDs require you to tie up your money for a year, a money market account gives you total access to your money for just a tiny fraction less on the yield.

Earn Money Every Day

In finance term, leverage is the use of various financial instruments or borrowed capital to increase the potential return of an investment. If you already have a mortgage, you are already leveraging on other people’s (the bank) money. You use as little money to get a significant, positive impact on your net worth. I am sure you can appreciate why real estate investment makes you more money than working full time all your life.

Besides leveraging on other people’s money which requires some initial capital, we can leverage on other people’s time, work, experiences and ideas. I am sure you’ve heard it before…people living the life of their dreams without working or just working only part time!

You can achieve it through leveraging and it is the main reason why I was attracted to the network marketing business model. It is the best and very simple way to start your journey towards financial freedom.

In my previous career as senior management in Asia Pacific, I had a great income but I realized that the companies that I worked for are leveraging on my time, my experiences and my talent. I am trading my own time which is limited by 24 hours a day to earn my income. They are not going to pay me if I stop working.

Then, I discovered the idea of having a home business that gives me a 24/7 mall without walls and a solution to convert daily spending into earning. So, I decided to embark on this amazing business model that was built on leveraging the time and efforts of people who are passionate to be successful.

All about Community Trust Bank

The bank feels glad to provide convenient options along with benefits for such specialized checking accounts. Some highlighted options along with benefits include:

  • Avoiding low monthly maintenance fee when low balance is maintained
  • Free flex debit card
  • Access to 24-hour banking through round the clock convenience line
  • Mobile banking
  • Internet banking with bill payment option
  • If you have a branch of Community Trust Bank nearby your dwelling place, then it will be good to avail membership in order to fetch numerous benefits.

Availability of Electronic Transfer Account (ETA)

Some highlighted benefits in association with Electronic Transfer Account include the following:

  • Easy availability of account to individuals who receive a federal benefit payments
  • You need to provide minimum deposit per month. It may include federal benefit, wage, salary or retirement payment.
  • Transactions must be related to over-the-counter and ATM card only
  • There remains no requirement of holding the minimum balance
  • Highly nominal and justified monthly maintenance charge needs to be paid. It generally fluctuates between $3 and $5.

Flexible Checking

Flexible checking by Community Trust Bank Surrey is gaining high popularity due to the following reasons:

  • You need only about $100 for opening such an account
  • Practically, it requires no monthly maintenance fee and minimum balance
  • You may easily go for unlimited writing of check
  • You may use first few checks free of cost
  • Enjoy unlimited deposits
  • Get monthly statement
  • Enjoy flex Debit card and transaction free of cost

Unlimited Checking

In a case of unlimited checking, if you are holding minimum daily ledger balance of about $500, then you need not pay any penny for monthly maintenance. You will also get benefitted with unlimited check writing, monthly image statement along with free flex ATM card and transactions.

The bonus pack option includes the following choices:

  • Savers Club
  • Purchase Protection and Extended Warranty
  • Payment Card Protection
  • MyIDMattersSM
  • Medical Emergency Data Card
  • Key Ring Protection
  • Discount Shopping Service
  • Accidental Death Insurance
  • Rx Advantage Prescription Drug Program