The truest definition of a Bank Draft is a check written with the certification of a customer’s bank. Bank Drafts are checks also known as Bank Checks and Cashier’s Checks. They have already been cleared at the writing institution and they provide an extra endorsement that the payment is good. Regular personal checks do not need to be co-signed or verified before they are used as payment, whether or not there is enough money in an account to cover it. Continue reading...
Unlock the power of secure transactions with cashier's checks! 🏦 A bank-backed guarantee, ideal for major purchases 🏠🚗. It's like cash but safer. Get to know when & why to use it, how to obtain one, and alternative payment options. Dive in for a seamless payment experience! 🔒 #CashiersCheck Continue reading...
Cash and cash equivalents are negotiable instruments which have a stable value and are highly liquid. Cash and Cash Equivalents is a phrase used often in the financial world. Generally money market accounts are the most used cash equivalent. They are invested in currency, and their goal is to preserve the value of the the investor’s dollars. Money market accounts are basically completely liquid, and investors can even write checks and make ATM withdrawals from their money market accounts. Continue reading...
Bank fees are penalties or maintenance requirements that may apply to checking, savings, or money market accounts. Banks may charge fees for specific types of transactions, if a check bounces, or just a monthly checking account fee. There are many other types of fees and reasons for them. They may be penalties, such as an overdraft fee, or they may be customary for the kind of transaction or account being used. Continue reading...
Lifeline accounts are offered by some banks, and are required in some states to be offered by all banks — they give low-income individuals an opportunity to bank without paying fees or observing a minimum balance. This is done in an effort to promote social mobility by giving everyone access to banking services. You are likely to be able to find a bank that offers free checking accounts anyway, but some states have mandated that banks allow for so-called “lifeline accounts,” which have fewer features than other checking accounts but which may be the only banking option available for low-income banking customers. Continue reading...
An account balance is the amount either credited to or owed on a ledger assigned to a particular entity or line-item. The balance of an account is the net debit or credit assigned to it after all transactions have been documented for a current period. Transactions might be deposits, withdrawals, interest credited, fees, or other activity. The account in question could be a personal savings or checking account, or a ledger account at a business or institution, or another form of account, such as the macroeconomic concept of current national account. Accounts are said to be “in the red” when there is a net debit (negative) amount, and “in the black” when there is a net positive balance (net credit). Continue reading...
There are many services online and custodians that that can facilitate stock trades. Anybody can buy shares of a publicly traded company, but it must be done through a brokerage firm or a custodian. Brokers and brokerage firms act as middle men between the buyer and the seller. Some brokerage houses such as E-Trade, Ameritrade, or Charles Schwab offer low-cost services online to anyone with a checking account, and offer no personal advice. Other brokerage firms focus on the human element, offering investment advice and making additional money through long-term client relationships and the commissions and fees that result from portfolio management. Continue reading...
APY is an annualization of an interest rate which may be assessed on a different schedule, such as on a monthly basis, and is useful for comparing debt and loan agreements that use different schedules. Annual Percentage Yield is a way to compare products and loans with different interest rates and different schedules for calculating the interest. It is a calculation of the effective annual rate, and it takes into account the effects of compounding interest, which a similar calculation for APR (Annual Percentage Rate) does not do. Continue reading...
An account number is a serialized identifier which is ascribed to a particular account holder or account at a financial institution, retailer, or other entity. Account numbers may include letters or numbers and may be of various length, but they usually exceed 5 characters. An account number is a way for a company or organization to uniquely identify the accounts associated with each individual customer. Continue reading...
A money order is a secure and reliable alternative to cash or personal checks, often issued by governments and banking institutions. Functioning similarly to a check, a money order serves as a certificate that can be cashed or deposited into a bank account. This article explores the intricacies of money orders, including their benefits, drawbacks, and the process of obtaining and using them. Continue reading...
The financial technology sector has been experiencing a rapid transformation in recent years, and one theme that has been gaining significant attention is the "Check Company" theme. This theme revolves around companies that are at the forefront of modernizing traditional financial processes, specifically in the realm of check processing and verification. In this article, we will delve into the Check Company theme and highlight some of the top stocks that investors should keep an eye on. Continue reading...
There aren’t many easy-to-find tools on the web or elsewhere to help an investor check how well diversified a portfolio is. Tickeron is setting out to change that. With our proprietary Diversification Score® tool, an investor can input each of their portfolio holdings, and our Artificial Intelligence (A.I.) will provide a score indicating how well diversified the portfolio is. An investor generally wants to make sure that they do not have too many assets allocated to one region, style, or sector, and that they have sufficient exposure across asset classes if that is their goal. Continue reading...
You don’t want to overdo it, but it’s important to stay on top of things. Generally speaking, if your portfolio is run by professional investment managers, you should check the performance quarterly; otherwise, you may not give them enough room to do their jobs. If you run your own portfolio, it is entirely up to you how often you check the performance, but be aware that the closer and more short-term your focus gets, the higher the chance you have of losing sight of the bigger picture. Continue reading...
A debit card is a financial tool that plays a fundamental role in the world of modern banking and personal finance. Often referred to as "check cards" or "bank cards," debit cards provide a convenient and efficient way for individuals to make purchases and access cash. In this article, we'll delve into what exactly a debit card is, how it works, and the associated fees, as well as explore the key distinctions between debit and credit cards. Continue reading...
CUSIP is basically like a Dewey Decimal number for stocks and U.S./local government bonds. CUSIP stands for Committee on Uniform Securities Identification Procedures. CUSIPs are alphanumeric identifiers of certain types of securities, but most commonly used for stocks and bonds. The first six characters identify the issuer and use letters; the seventh and eighth characters (which can be alphabetical or numerical) identify the type of issue; and the last digit is used as a check digit. Continue reading...
Unlock the mysteries of your credit score! Dive into the nuances of credit score ranges, understand their profound impact on your financial opportunities, and arm yourself with knowledge to elevate your financial standing. Every point counts! Continue reading...
There is no clear-cut answer this question. There are many companies that offer life insurance and countless salespeople and brokers anxious to sell an insurance policy. You should buy your Life Insurance from a company that is reliable, financially stable, and reputable. You can find a policy yourself online or through an agent or advisor. Of course, you must do research and analyze the companies which you are considering very carefully. It is of utmost importance to be sure that your insurance company has policies that suit your needs and are not a scam, especially since this may be some of the most important insurance you can own. Continue reading...
Deposits are cash, checks, and electronic transfers that banking customers put into their personal or corporate bank accounts. Deposits will increase the balance, or pay off a debt, within a bank account. Deposits may not show up on an account balance until they have cleared from the institution or account from which the check is written or the electronic transfer was requested. The types of accounts that can receive bank deposits include but are not limited to checking, savings, and money market accounts. Bank Certificates of Deposit (CDs) can be purchased with an initial deposit that satisfied minimum amount. Deposits are considered liabilities on the balance sheet of the bank, since they are obligated to pay that money out when a customer requests it. Continue reading...
Unlock the power of Electronic Transfer Accounts (ETAs) for federal payment recipients! Discover the convenience of direct deposit, zero minimum balance requirements, and more. Simplify your financial life with ETAs - the modern way to access federal payments securely. #FinancialInclusion #ETA Continue reading...
The Lifetime Learning Credit is a federal tax credit to offset expenses associated with higher education. There is no age limit and the credit can be applied to part-time student courses, even if it is only one class. The credit is for 20% of the related expenses up to a maximum of a $2,000 credit per household. Tax credits are a dollar-for-dollar reduction of taxes due. The Lifetime Learning Credit can be used for higher education expenses, regardless of the age of the student, but there is a household limit per year. 20% of educational expenses up to a household maximum of $2,000 can be applied as an income tax credit. The credit exists to make it easier for Americans to increase their skill-set and education. Continue reading...