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Recent Articles

Simple Way To Calculate The APY

August 11th, 2008 by Shenron

Have you ever heard of APY? this is also known as an Annual Percentage Yield. APY is one of the crucial thing that you must see before you apply any online bank account. APY is a tool that you could use to evaluating how much your deposit earns you. Why you should look for an APY before you apply any of online bank account? Well, it’s simply because APY is a standardized way of comparing your investments. And as consumer, it’s your job to find the highest APY and put your money in it.

Getting a good APY from your online bank account provider is an important job, since it will compound all of your money. To make a long explanation short, compounding means making earnings from your existing earnings. So, the APY quote will tell you how much money you’re really making by put your money into your online bank account.

If you get more frequent APY, your APY will be much higher. You could ask your online bank account provider how often they compound your money. A daily compound will get you a higher APY that the quarterly APY.

Calculate for the APY could be a troublesome things to do for some people, and they’re right. APY could be a little tricky. But, you could do a simple APY calculation by using Excel Worksheet. Type this function into your excel worksheet.

=POWER((1+(A1/B1)),B1)-1 where A1 is the Rate and B1 is your online bank account provider compounding frequency.

To make it easier, you could put this formula at C1 cell. Put the annual interest rate at the A1 cell in the decimal format, for example, if the annual interest rate is ‘6%’, you’ll type ‘0.06′ in a A1 cell. In a cell B1, you put a compounding frequency, for example, ‘365′ for daily compounding. After you finished filling out the A1 and B1 cells, your APY results at the C1 cell will appear instantly. You could play with the compounding at the B1 cells. Try to change it to quarterly to see how many APY that you could get.

This APY calculation will help you determine whether the online bank account provider gives you the best rate or not. If you feel comfortable with the APY rate that they give to you, you could consider opening a new online bank account at their website.

Posted in Online Bank Accounts | | 0 Comments

4 Reasons Why You Need To Open An Online Bank Account

July 17th, 2008 by Shenron

These recent years most people enjoy their banking activities by having an online bank account. Online bank account helps people to save their time, cost and energy. People who want to do a fast transaction using their online bank account could do it at a warp speed. They only have to visit the online bank account website, log in, and do the money transfers. The growth of people who use the online bank account is increased rapidly, and they have several reasons why they should open an online bank account. Check these highest rank reasons that make them open an online bank account.

1. Convenience. You don’t have to leave your house to do your business transactions. All of it can be done while you sitting in the kitchen and wearing your pajamas. Some people even do it while they’re eating! When you’re a businessman or a business woman, you must be figured out how hard it is when you have to sacrifice your lunch time to go to the bank and finish your transactions there. When you already have an online bank account in your hand, that activities could be a thousand miles away from you. You could do your transaction anytime and anywhere, without sacrifice your lunch time anymore.

2. No Queuing. This is the second highest rank that makes people prefer to have an online bank account rather than the conventional one. Don’t waste your time by queuing in the bank anymore. This queuing stuff became a disaster for you when you’re stuck in the middle of a hectic and crowded place ever, the bank.Â Done your bank transactions from the comfort of your office or your house.

3. Transactions Choices. Online bank account offers you the equal service with the conventional bank has. Not only that, some of them maybe offers you more choices and services. You could pay your bills, do direct debits, transfer cash, and checking your balance in a click of mouse. Not only that, you could also order a new cheque book and a new card from the online bank account website. The process is simple and fast.

4. Save Time and Secure. You must be agreeing with this term, Time is money. That’s right! People don’t like to waste their time doing time consuming stuff while they can find other ways to do it fast and secure. That’s why they choose to opt in for the online bank account. Their online bank account gives them more benefit because it can save their valuable time and also secure their transactions. They don’t have to rush to the bank, do some transactions and then get back to their office. They want it fast, they want their transactions done right now!

If you feel one of the above reasons, you could consider opening a new online bank account too. Save your valuable time, cost, and energy by choosing the right online bank account.

Posted in Online Bank Accounts | | 0 Comments

3 Components That Helps You To Get An Online Bank Account

July 16th, 2008 by Shenron

The online bank account could give you so many benefits that you can use while you want to do your transactions online. And the best part is you could save more time, energy, and cost by having one online bank account. But, some people are not that lucky. They found themselves struggling while they’re trying to choose which one is the best online bank account. Now, cut all of your research time, and read this article until the very end so you could get some components that you should consider while you’re choosing for the best online bank account for yourself.

1. The number of the accounts. People usually have two different online bank accounts. They will use one of them as their business account and use the other one as their savings account. You have to consider how many accounts you that want. If you’re a type of person who likes to separate your business account according to how many business you have, maybe you want to choose the online bank account provider who allowed you to have more than 2 accounts.

2. You should be an active person. in finding the online bank account which has a good rate will be so much fun for you, if you’re an active person. But, if you’re a lazy type one, you could end yourself by choosing the wrong online bank account provider who gives you minimum service with super low APY. So, be active! Try to ask people in a forum to help you to find out the best online bank account for you. Don’t spend your time by wandering around whether people will help you or not, just ask them nicely and politely. People more likely to help if you ask them nicely and politey.

3. Compare each various number of the features. Each online bank account providers have various numbers of features. What you need to do is compare each of them and see whether you need those features or not. Even better, make a list first before you start your hunting to find the best online bank account.

Those are the simple keys that you could use as your guidance before you choose on of the online banking account that lying out there. Finding the best one shouldn’t be difficult for you. And, don’t forget to dig around to see the people testimonials about their choosing online bank accounts.

Posted in Online Bank Accounts | | 0 Comments

7 Confidential Steps To Secure Your Online Bank Account

December 7th, 2007 by Shenron

Have you ever felt unsecured when you want to check your online bank account or do buy something’s online? Well, most people have. The increasing of the internet banking, also make the online identity theft increased more. These people will do anything to steal your online information, starting from your private information, credit card numbers, etc. It’s the most important issues for people who want to protect their online bank account from these people. Here are 7 confidential steps that you could apply to protect those hijackers from stealing your online bank account information.

1. Make sure that the bank you want to apply for the online bank account is legitimate. It’s ok for you to spend one or two days choosing and researching the legitimate banks. You could choose the bank that already has their branch office near your area, so you could check them in person. Also, you could try to contact the toll free number that usually listed at the “About Us” or “Contact Us” page. Contact them personally and see whether they reach you immediately or not.

2. Be careful with the phishing. According to wikipedia.org, phishing is an attempt to criminally and fraudulently acquire sensitive information, such as usernames, passwords and credit card details, by masquerading as a trustworthy entity in an electronic communication. These phishing activities usually do by sending you the email that pretends sending from your online bank account provider that telling you to click links and fill out your information in a form that showed up after you clicks the link. You could avoid this by not clicking the links that sent into your inbox. If you think that the email message could be legitimate, go to your online bank account website directly by typing the website in your web browser and do some crosscheck. As the alternative, contact the company and ask them about the email. If you found that the email is not valid, delete it as soon as possible to avoid yourself from accidentally click on it.

3. Never accessed your online bank account from the public computer. You may face a high risk of information theft if you do this. Most public computer which available in the public library or in the internet cafe may be installed the key logger in it. So, every time you type something in the computer, you send the information theft with the fresh and hot data that you just type from that computer.

4. Never store your online bank account password in your computer. Although you have some password store software, you still need to keep your password save. If you store your passwords in your computer, you’ll never know when the identity theft hack your computers and stole it. You could write it in a piece of paper and put it near your computer or you could write it in your agenda. These could minimize the chance of your password get stole.

5. Scan your computer periodically. Scanning your computer everyday from ‘harm things’ could help you to avoid any virus, spy ware, or trojan that being installed in your computer without you knowing it. Make sure your firewall always on before you perform any online transactions.

6. Use the combination of letters, numbers, and symbols as your passwords. The number one thing you should know is never put your birthday as your password. Combine some letters (big and small), numbers, and symbols as your passwords. For example, #myp4$sw012d$&*. It could be a little hard to remember, but you could write it in your book or use some combinations that easy for you to remember.

7. Follow the online bank account secure tips before you do any transactions. Every online bank account providers usually give you tips about how to secure your log in or transactions. Read and follow it.

Apply these 7 tips in your real life, and prevent your online bank account from being stolen. Always be careful before you fill out some form with your personal information. If you’re still stuck with this security issues, contact your online bank account provider and discuss your security questions with them.

Posted in Online Bank Accounts | | 0 Comments

6 Simple Steps To Apply For Any Online Bank Account

December 5th, 2007 by Shenron

Many people wondering whether or not they will open an online bank account. Some of them already decide to open one and really did it, and some of them prefer to stick with their old fashioned style of doing their transactions, go to the bank. If you’re one of the people who already decide to open a new online bank account, but don’t know exactly how to do it, you could read these simple 6 steps to open an online bank account. These are may not match exactly with your online bank account provider, but these are the easiest way to describe how to open an online bank account

1. Choose your online bank account provider. Choosing the right one may seems a little bit difficult for you, especially when you’re new in this online banking area. You could do some search by typing “online bank account” in Google, and it will pull of about 37 millions results. You could pick which one that match with your requirements. If you don’t know which one is the best, go to several banking forums and read people testimonies. You could post your questions too in there and wait for the people in the forums respond.

2. Go to the online bank account website. As soon as you choose one online bank account provider or got recommendations from other people, you could go to the online bank account websites. Read about their services, testimonials, company’s history, or even contact the customer service to ask further information’s about the online bank account. You could do this anytime and any day, without worrying whether the bank is closed or not.

3. Choose the product that you want. Your online bank account providers usually have several choices of account types and services that you could choose. Not only that, you could even do some mix and match to get the perfect account for yourself. When you arrived at the online bank website, you could click the “Open Bank Account” link, and then click the “Checking” link, and last click the “Free Checking”. You should know that most of these online bank account providers give you the chance to open your online bank account for FREE!

4. Provide your details information. This is the essential thing that you should do before you open an online bank account. The online bank account provider will require you to fill up some information about yourself before you get your online bank account. Some information that they may need about you is your name, birthday, identification number (social security number for the U.S citizens), driver’s license number, etc. This is only take several minutes since you’re filling out an online form, check the “Agree to the Terms and Conditions” or similar words, and click the “Submit” button.

5. Read and Agree To The Terms. This may be a little bit time consuming since you have to read all the terms carefully, some people even print it so they can read it word by word. It’s to make sure you understand all conditions, abide certain rules, and take full responsibility to some actions. If you’re already understood the terms and conditions, you could go to the next step.

6. Print, Sign, and Mail Your Documents. This is the most important step that you couldn’t skip out. Since you’re opening your online bank account in the online bank account provider website, they will require you to sign some documents and mail it to their office. If you don’t do this, having an online bank account is still a dream, because they won’t activate your account before they receive your documents.

That’s it. When you follow all those steps above, you could guarantee yourself that you could have your own online bank account in a matter of days or weeks. Don’t forget to provide them with your valid information so they can activate your online bank account immediately.

Posted in Online Bank Accounts | | 0 Comments

Recent Articles

Simple Way To Calculate The APY

4 Reasons Why You Need To Open An Online Bank Account

3 Components That Helps You To Get An Online Bank Account

7 Confidential Steps To Secure Your Online Bank Account

6 Simple Steps To Apply For Any Online Bank Account

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