At retail banks deposits are insured at a maximum of $100.000.How does it work at a Broker Bank?.....say if somebody has $1,000,000.00,what amount is preserved and what is lost?Also how long before one has access to the funds again?
What happens to the funds in a brokerage account when the Broker Bank collapses?
Well, there's 2 types of insurance that most brokers work with:
1. A government-sponsored insurance scheme not unlike the FDIC 100K. BUT just like the 100K policy, if the government is low on funds they will probably not pay you the whole amount, but rather negotiate and settle at a lower amount (which is usually at least 40% of you deposit).
2. The vast majority (99%) of brokers carry additional insurance from a major insurer (usually Lloyd's), which protects your account for a large sum (mine's protected till $5 million).
Reply:There are certain guarantees in place. It depends on the kind of account. For instance, a brokerage account that is designated as a tax deferred retirement account is guaranteed for the first $250,000.00. But that is only if the brokerage goes under, and takes all the money. The brokerage accounts are supposed to be segregated to protect it. You should call your broker and ask these questions. Perhaps it is necessary to split your account between different brokerages to afford you the protection of a federal guarantee, just as you would your bank accounts to get the FDIC protection.
naming
Tuesday, May 25, 2010
What are the consequences of holding a normal account after becoming and NRI?
What are the consequences of holding a normal account after becoming and NRI?
What are the consequences if some one is found out?
Thank you.
What are the consequences of holding a normal account after becoming and NRI?
All resident accounts of a person with banks in India will automatically be treated ordinary non-resident accounts on his becoming non-resident.
Similarly NRO account may be redesignated as resident accounts on the account of holder becoming resident in India. It may be noted that residential status of a person will be determined as per the definition under Foreign Exchange Regulation Act, 1973.
When an Indian national or person of Indian origin residing in India leaves India for a foreign country (other than Nepal and Bhutan) for taking up employment, business or vocation outside India, or for any other purpose, indicating his intention to say outside India permanently or for an indefinite period, he becomes a person resident outside India. His bank account, if any, in India is designated as an Ordinary Non-resident Account (NRO Account). Such accounts can also be opened with funds remitted from abroad. As funds in this type of account are non repatriable, they cannot be remitted abroad to the account holders or transferred to their NRE Accounts without the Reserve Bank鈥檚 prior permission. Interest earned on these deposits is not exempt from Indian Income-tax.
The accounts may be maintained in the form of savings or current or term deposit accounts. The accounts can also be opened jointly by non-residents with their close relatives resident in India and operations thereon by the resident account holders can be made freely. If an account is used only for the personal or business needs of the resident account holder, it may be opened jointly even with a person who is not a close relative but this needs prior permission of the Reserve Bank.
Reply:Normally, you should inform your bank so that your bank account becomes NRO account. TDS will be deducted at 30% instead of 10%.
For NRI accounts NRO, NRE and FCNR, read http://mytaxes.in/index.php?topic=150.0
What are the consequences if some one is found out?
Thank you.
What are the consequences of holding a normal account after becoming and NRI?
All resident accounts of a person with banks in India will automatically be treated ordinary non-resident accounts on his becoming non-resident.
Similarly NRO account may be redesignated as resident accounts on the account of holder becoming resident in India. It may be noted that residential status of a person will be determined as per the definition under Foreign Exchange Regulation Act, 1973.
When an Indian national or person of Indian origin residing in India leaves India for a foreign country (other than Nepal and Bhutan) for taking up employment, business or vocation outside India, or for any other purpose, indicating his intention to say outside India permanently or for an indefinite period, he becomes a person resident outside India. His bank account, if any, in India is designated as an Ordinary Non-resident Account (NRO Account). Such accounts can also be opened with funds remitted from abroad. As funds in this type of account are non repatriable, they cannot be remitted abroad to the account holders or transferred to their NRE Accounts without the Reserve Bank鈥檚 prior permission. Interest earned on these deposits is not exempt from Indian Income-tax.
The accounts may be maintained in the form of savings or current or term deposit accounts. The accounts can also be opened jointly by non-residents with their close relatives resident in India and operations thereon by the resident account holders can be made freely. If an account is used only for the personal or business needs of the resident account holder, it may be opened jointly even with a person who is not a close relative but this needs prior permission of the Reserve Bank.
Reply:Normally, you should inform your bank so that your bank account becomes NRO account. TDS will be deducted at 30% instead of 10%.
For NRI accounts NRO, NRE and FCNR, read http://mytaxes.in/index.php?topic=150.0
Is there any way to get an Itunes account without a credit card?
I don't have a credit card, and neither do my parents. How do I go about getting an Itunes account without one? I already tried paypal, and even there they ask me for a credit card number and such. Is there any way around this?
Is there any way to get an Itunes account without a credit card?
I went through the same thing. The iTunes website/application looks like you have to enter a credit card - but - if you look carefully - it is only optional! I was able to set up my account without entering a credit card! (just click next)
Good luck and enjoy!
Reply:Yeah there is. I just use my AOL account. Do you have AIM? If you do then just enter your username %26amp; password. It comes automatically with an email address %26amp; thats what they want so you can just enter your aim stuff if you do.
So if you don't then thats really the only way to get into it sorry.
Just register I guess.
:)
Reply:try a debit card. you can get one for near free at your bank(or your parents bank)
Reply:Buy a prepaid card, walmart, walgreen's, etc.
Is there any way to get an Itunes account without a credit card?
I went through the same thing. The iTunes website/application looks like you have to enter a credit card - but - if you look carefully - it is only optional! I was able to set up my account without entering a credit card! (just click next)
Good luck and enjoy!
Reply:Yeah there is. I just use my AOL account. Do you have AIM? If you do then just enter your username %26amp; password. It comes automatically with an email address %26amp; thats what they want so you can just enter your aim stuff if you do.
So if you don't then thats really the only way to get into it sorry.
Just register I guess.
:)
Reply:try a debit card. you can get one for near free at your bank(or your parents bank)
Reply:Buy a prepaid card, walmart, walgreen's, etc.
How can I withdrawl large sums with my account now visa card?
I am trying to buy a car from a private dealer and can't seem to figure out how to get more than $3,000 at one time. Can anyone help? I either need the money in cash or certified funds. My wife and I are starting to think that this Account Now account is bad idea. I can't any real reviews or figure out how to actually talk to a person at Account Now. Please Help.
How can I withdrawl large sums with my account now visa card?
If this is a regular credit card, is there any way the car dealer can process that out? If he can't, can you ask him to help you find a way, ask his business friends, or relatives? After all, he's about to make a profit.
Reply:Hey Jon. The AccountNow card is a debit card, not a credit card. There is a limit on the amount you can withdraw. I would suggest doing a mix of cash withdrawal paying for a money order. To get a more help and a better explanation, call customer at 866-925-2036. Report Abuse
How can I withdrawl large sums with my account now visa card?
If this is a regular credit card, is there any way the car dealer can process that out? If he can't, can you ask him to help you find a way, ask his business friends, or relatives? After all, he's about to make a profit.
Reply:Hey Jon. The AccountNow card is a debit card, not a credit card. There is a limit on the amount you can withdraw. I would suggest doing a mix of cash withdrawal paying for a money order. To get a more help and a better explanation, call customer at 866-925-2036. Report Abuse
How often do the three credit bureaus update account info?
I have paid off two credit cards. One 20 days ago, the other two weeks ago. It still shows the old total on my equifax and trans union and the CC companies tell me they have already reported to them.
How often do the three credit bureaus update account info?
The creditor does the updating to the credit bureaus. Most creditors only update once a month. You have to allow 30 to 60 days for it to show up on your credit report.
The credit bureaus receive updates constantly. The updates show up in your file right away.
Reply:It can take anywhere from 30-45 days for the new information to show up. Depending on how you are accessing your credit reports you may not be getting the accurate info. Wait a few more days and then go to myfico and buy your scores there... all other sites are FAKO scores, not accurate.
Reply:Typically the information is updated to the bureaus the month following the change. However, if you are looking to receive financing for a vehicle or home, your loan officer may request that the information be updated immediately.
Chris G.
www.howtogetanfhaloan.com
Reply:They update every thirty days, but it takes 60 days to show up on record.
Reply:It generally takes 30 days for your report/score to update. Give it a little more time and it should show up then.
Reply:I think it's one a month. Not too often.
first name
How often do the three credit bureaus update account info?
The creditor does the updating to the credit bureaus. Most creditors only update once a month. You have to allow 30 to 60 days for it to show up on your credit report.
The credit bureaus receive updates constantly. The updates show up in your file right away.
Reply:It can take anywhere from 30-45 days for the new information to show up. Depending on how you are accessing your credit reports you may not be getting the accurate info. Wait a few more days and then go to myfico and buy your scores there... all other sites are FAKO scores, not accurate.
Reply:Typically the information is updated to the bureaus the month following the change. However, if you are looking to receive financing for a vehicle or home, your loan officer may request that the information be updated immediately.
Chris G.
www.howtogetanfhaloan.com
Reply:They update every thirty days, but it takes 60 days to show up on record.
Reply:It generally takes 30 days for your report/score to update. Give it a little more time and it should show up then.
Reply:I think it's one a month. Not too often.
first name
What account to make to allow people to donate me on the Internet ?
Like paypal or google checkout ? Can i have a step by step please.
What account to make to allow people to donate me on the Internet ?
paypal is good because people can pay you by visa or mastercard.
go to paypal, set up an account, and follow the directions.
if you have a paypal account, all someone needs is your email address that the paypal account is registered to and they can send you money.
What account to make to allow people to donate me on the Internet ?
paypal is good because people can pay you by visa or mastercard.
go to paypal, set up an account, and follow the directions.
if you have a paypal account, all someone needs is your email address that the paypal account is registered to and they can send you money.
What are the benefits of a personal checking account?
What's so great about opening up a checking account or why would you want to open one up?
What are the benefits of a personal checking account?
1. If you apply for credit card, they want you to have your own checking account. (You need to have a credit card, so you can develop your credit history.)
2. You will need to pay your bills (phone, electric, water, cable, etc.). For this, you will have to write a check, or pay them online. In order for you to write a check or pay bills online, you will need to have a checking account.
3. Paying for things at the cash register. When you buy groceries for your family, the balance to pay is easy into $100 per trip. It is a hassle to carry hundreds of bucks in your wallet at all times. Much easier, just to slide a debit card at the cash register. And you won't have to worry about change back.
4. Most emloyees in now days don't give you a paycheck to cash it out, but do the direct deposit straight into your checking account.
5. Buy things online.
Reply:Having a Personal Checking Account is one of the big steps you take as you mature and enter adulthood.
It shows that you are organized, responsible and capable of managing your life.
It will give you total control over your own finances and ability to write checks to pay bills, etc. plus a secure location to deposit your pay checks, refund checks and other income you might earn.
You can also get a Debit Card that you can use instead of using money and writing checks...very convenient.
When applying for a credit account, it shows stability if you are established with a bank account.
How are you going to pay your bills if you can't write check?
pay cash?
buy a money order?
I don't think so.
Reply:Everybody that's posted before me, have brought up exceptional answers that I would've already said. One thing that I would like to touch upon is that checking accounts PROTECT YOUR MONEY! Let me paint a scenario fo you: It's friday, you just got paid, you go to the check cashers or the grocery store to cash your check. Well right there you're spending money to cash a check that you worked 40 some odd hours for. Now having said that, some not-so-nice person is sizing you up all this time unbeknowst to you. They know that you just cashed your check, with a purse or pocketful of bills, making you a walking bank-vault that's ripe for the pickings...Get my drift yet?
Another thing is that cash spends quicker when it's in-hand, not to mention unless you have a phtographic memory and a mind like a steel trap, there's a chance that you will forget where you spent your money.
Just the thought of those two things wakes me up in the middle of the night. Take it from the people that's answered this. It will help you in the long run.
What are the benefits of a personal checking account?
1. If you apply for credit card, they want you to have your own checking account. (You need to have a credit card, so you can develop your credit history.)
2. You will need to pay your bills (phone, electric, water, cable, etc.). For this, you will have to write a check, or pay them online. In order for you to write a check or pay bills online, you will need to have a checking account.
3. Paying for things at the cash register. When you buy groceries for your family, the balance to pay is easy into $100 per trip. It is a hassle to carry hundreds of bucks in your wallet at all times. Much easier, just to slide a debit card at the cash register. And you won't have to worry about change back.
4. Most emloyees in now days don't give you a paycheck to cash it out, but do the direct deposit straight into your checking account.
5. Buy things online.
Reply:Having a Personal Checking Account is one of the big steps you take as you mature and enter adulthood.
It shows that you are organized, responsible and capable of managing your life.
It will give you total control over your own finances and ability to write checks to pay bills, etc. plus a secure location to deposit your pay checks, refund checks and other income you might earn.
You can also get a Debit Card that you can use instead of using money and writing checks...very convenient.
When applying for a credit account, it shows stability if you are established with a bank account.
How are you going to pay your bills if you can't write check?
pay cash?
buy a money order?
I don't think so.
Reply:Everybody that's posted before me, have brought up exceptional answers that I would've already said. One thing that I would like to touch upon is that checking accounts PROTECT YOUR MONEY! Let me paint a scenario fo you: It's friday, you just got paid, you go to the check cashers or the grocery store to cash your check. Well right there you're spending money to cash a check that you worked 40 some odd hours for. Now having said that, some not-so-nice person is sizing you up all this time unbeknowst to you. They know that you just cashed your check, with a purse or pocketful of bills, making you a walking bank-vault that's ripe for the pickings...Get my drift yet?
Another thing is that cash spends quicker when it's in-hand, not to mention unless you have a phtographic memory and a mind like a steel trap, there's a chance that you will forget where you spent your money.
Just the thought of those two things wakes me up in the middle of the night. Take it from the people that's answered this. It will help you in the long run.
How do I post pictures to my facebook account, without posting them on everyones wall?
I'm wanting to upload a set of pictures onto my facebook account. I don't want them posted to every "friend's" wall. I just want them under my pics so anyone can see. I am guessing this is a settings issue, I just don't know what settings to change. Thanks in advance.
How do I post pictures to my facebook account, without posting them on everyones wall?
Do you mean you don't want it posted to everyones' Feed so that when they log-in they won't see that you've uploaded pics? If you don't want all your friends to know from their Feed that you have posted pics, you just need to delete that story from your own Wall. What doesn't show up on your Wall also won't show up on Feeds.
But if you're talking about having people tagged in your photos so that in turn, those photos get posted to your friends' Wall, well sorry, there's no setting to prevent people from tagging your photos. You can't turn off tagging to photos and once people are tagged, they show up on that person's Wall unless that person changes their own privacy settings.
Reply:To do this you have to post it and then go to your home page and as you go on it find where it was posted and on the top right theres a delete button.
How do I post pictures to my facebook account, without posting them on everyones wall?
Do you mean you don't want it posted to everyones' Feed so that when they log-in they won't see that you've uploaded pics? If you don't want all your friends to know from their Feed that you have posted pics, you just need to delete that story from your own Wall. What doesn't show up on your Wall also won't show up on Feeds.
But if you're talking about having people tagged in your photos so that in turn, those photos get posted to your friends' Wall, well sorry, there's no setting to prevent people from tagging your photos. You can't turn off tagging to photos and once people are tagged, they show up on that person's Wall unless that person changes their own privacy settings.
Reply:To do this you have to post it and then go to your home page and as you go on it find where it was posted and on the top right theres a delete button.
What happens when a merchant account needs a person but an enterprise needs to be the owner of the account?
A merchant account application is asking for a single person to be the owner of the account, however there will be no single owner it will be an enterprise.
What happens when a merchant account needs a person but an enterprise needs to be the owner of the account?
I will try to shed some light for you on the merchant account application process. Hopefully it will help you understand what exactly is required in the application.
In a merchant account application you will provide details about both your business and your business' owners, including address (business and personal), social security number, tax ID (if applicable), phone numbers, email address, web address, bank account info, etc. The business owners may be more than one, just as it is in your case, and you will provide personal information for all of them.
Be advised that no person from your organization will own the merchant account and the application is not about owning it. The merchant account will provide a way for your company to accept payments and your company's money will then be deposited into your company's bank account, not into one of the owners' accounts.
The application does ask you for a "Contact Person." This is different. A contact person is the one representative (whether it is an owner or not) of your organization that your merchant account provider will contact whenever they need to talk to someone about something. That is all.
Reply:Merchant Capital Funding LLC
Luis Orlando
Senior Funding Specialist
Tel: 866-221-2050
Direct: 646-747-6719
Fax: 800-531-9768
E-mail: lorlando@onlinemcf.com Report Abuse
jewish name
What happens when a merchant account needs a person but an enterprise needs to be the owner of the account?
I will try to shed some light for you on the merchant account application process. Hopefully it will help you understand what exactly is required in the application.
In a merchant account application you will provide details about both your business and your business' owners, including address (business and personal), social security number, tax ID (if applicable), phone numbers, email address, web address, bank account info, etc. The business owners may be more than one, just as it is in your case, and you will provide personal information for all of them.
Be advised that no person from your organization will own the merchant account and the application is not about owning it. The merchant account will provide a way for your company to accept payments and your company's money will then be deposited into your company's bank account, not into one of the owners' accounts.
The application does ask you for a "Contact Person." This is different. A contact person is the one representative (whether it is an owner or not) of your organization that your merchant account provider will contact whenever they need to talk to someone about something. That is all.
Reply:Merchant Capital Funding LLC
Luis Orlando
Senior Funding Specialist
Tel: 866-221-2050
Direct: 646-747-6719
Fax: 800-531-9768
E-mail: lorlando@onlinemcf.com Report Abuse
jewish name
What is the difference between a money market account and a mutual fund?
Are there minimum beginning amounts on either? Peanalties for early withdrawal?
What is the difference between a money market account and a mutual fund?
There are money market mutual funds, however, this is what I think you're talking about.
Money Market accounts: most banks and brokerages offer these. They are essentially savings accounts tied to the market rate, so you get some higher return than a normal fixed savings account rate. You can usually write 3 checks a month, without penalty and withdraw up to 6 times a month. Typically, you must invest anywhere from $5000-25000 to start and hold a minimum balance.
Mutual Funds: These are a collection of stocks held together and invested in with the pooled funds of investors in the fund. You generally spread the risk amongst many investors and many funds. The funds can be tied to indexes, S%26amp;P 500 Index, Overseas Index, socially conscious "Green Funds", types of companies, Small, Mid-Cap, Large-Cap funds, and even bonds.
You can get started with $50/mo., or flat entries of $250 typically.
Hope that helps!
Reply:A mutual fund is a way of investing broadly in the stock market, with the intention of lowering the risk of short-term loss by spreading out the stocks in which the fund invests. To create a mutual fund, a financial institution buys shares of dozens, sometimes hundreds, of companies, and then pools all the earnings (and yes, losses) of those companies into the mutual fund.
The idea is that by choosing a diverse group of strong companies, the fund will offer less risk than simply buying shares in a few individual companies. It's a lot like one of those wildlife documentaries where the lions eat one or two zebra but the whole herd gets away. The mutual fund works on a similar principle -- if the fund contains, say, 30 different stocks, on any given day five or ten might drop, another ten might stay about the same, and another ten might go up.
Mutual funds are therefore an investment in the stock market, with the associated risks but also rewards. The challenge with a mutual fund is in finding one with a good, smart fund manager who chooses stocks wisely and keeps on top of changes and trends in the market that apply to the individual shares that make up the mutual fund. So one of the ways of analyzing a mutual fund's strengths is to look at how long the manager has been in charge; if he or she has years of success, this should give you some confidence that the fund will continue to grow.
A money-market account, on the other hand, trades in short-term securities like US Treasury bills and certificates of deposit, in an effort to find the highest short-term return on an investment. A money-market account is typically very liquid -- that is, you can contribute and withdraw fairly easily, depending on the terms of your financial institution. Money-market accounts always keep their share value at $1, and pay their returns by increasing the number of shares you have -- distinct from the mutual fund, in which the shares go up or down in value depending on the average of all the shares that make up the mutual fund.
One key distinction: mutual funds can (and often do) lose money some days while making money others, because they are made up of companies trading on the stock market. If you hate to see your balance drop, even by a small amount, a mutual fund may be a frightening investment if you look too closely at it. However, a good fund should provide steady growth over the long term; it's a typical place to invest 401(k) or IRA money, for example.
And just to make matters more confusing... there IS a special type of mutual fund that trades only in money markets. However, this is usually called a "money market fund;" it uses the principle of the mutual fund to spread the risk, while using the practice of the money-market account to focus on short-term, low-risk investments.
Minimum amounts and penalties will vary from institution to institution, so ask before you buy either. However, mutual funds do charge a maintenance fee (the fund manager has to make payments on his Carrera Cabriolet, you know :-), and the size of these fees can have an impact on your overall return and profitability.
To offset this, though, many mutual funds also pay dividends -- that is, in addition to the appreciation you may receive when the fund grows in value over time, you may also be paid dividends when the companies owned by the fund pay them. Most mutual funds (that I know of, at least) automatically pay those dividends by reinvesting them in your mutual fund rather than by writing you a check. So in essence if you own 100 shares of Fidelity Equity Income Fund (symbol: FEQIX) and it goes up (it went up 29 cents a share yesterday to close at 59.33), you still own 100 shares. But if FEQIX pays a dividend of 59.33 cents a share (to make the math easy), you will own 101 shares of FEQIX (100 times 59 cents equals 59 dollars) when the dividend is reinvested.
Last... the Morningstar group (http://www.morningstar.com/) evaluates mutual funds and rates them based on their performance and other characteristics over time. That's a good place to get some unbiased info on specific mutual funds.
Reply:To the best of my knowledge, a money market account is about the same as a saving account with different policies. As to minimum amounts, it varies with the institution your are dealing with. I don't think most have penalties for withdrawals except they may charge you a fee if you make more withdrawals per month, quarter etc. than their plan allows.
Mutual funds are like stock accounts that you buy shares in. You then become and owner in that fund.
Hope this helps a little
Reply:A money market is a type of bank account. The funds in a money market can be used to purchase mutual funds, which are types of investment.
What is the difference between a money market account and a mutual fund?
There are money market mutual funds, however, this is what I think you're talking about.
Money Market accounts: most banks and brokerages offer these. They are essentially savings accounts tied to the market rate, so you get some higher return than a normal fixed savings account rate. You can usually write 3 checks a month, without penalty and withdraw up to 6 times a month. Typically, you must invest anywhere from $5000-25000 to start and hold a minimum balance.
Mutual Funds: These are a collection of stocks held together and invested in with the pooled funds of investors in the fund. You generally spread the risk amongst many investors and many funds. The funds can be tied to indexes, S%26amp;P 500 Index, Overseas Index, socially conscious "Green Funds", types of companies, Small, Mid-Cap, Large-Cap funds, and even bonds.
You can get started with $50/mo., or flat entries of $250 typically.
Hope that helps!
Reply:A mutual fund is a way of investing broadly in the stock market, with the intention of lowering the risk of short-term loss by spreading out the stocks in which the fund invests. To create a mutual fund, a financial institution buys shares of dozens, sometimes hundreds, of companies, and then pools all the earnings (and yes, losses) of those companies into the mutual fund.
The idea is that by choosing a diverse group of strong companies, the fund will offer less risk than simply buying shares in a few individual companies. It's a lot like one of those wildlife documentaries where the lions eat one or two zebra but the whole herd gets away. The mutual fund works on a similar principle -- if the fund contains, say, 30 different stocks, on any given day five or ten might drop, another ten might stay about the same, and another ten might go up.
Mutual funds are therefore an investment in the stock market, with the associated risks but also rewards. The challenge with a mutual fund is in finding one with a good, smart fund manager who chooses stocks wisely and keeps on top of changes and trends in the market that apply to the individual shares that make up the mutual fund. So one of the ways of analyzing a mutual fund's strengths is to look at how long the manager has been in charge; if he or she has years of success, this should give you some confidence that the fund will continue to grow.
A money-market account, on the other hand, trades in short-term securities like US Treasury bills and certificates of deposit, in an effort to find the highest short-term return on an investment. A money-market account is typically very liquid -- that is, you can contribute and withdraw fairly easily, depending on the terms of your financial institution. Money-market accounts always keep their share value at $1, and pay their returns by increasing the number of shares you have -- distinct from the mutual fund, in which the shares go up or down in value depending on the average of all the shares that make up the mutual fund.
One key distinction: mutual funds can (and often do) lose money some days while making money others, because they are made up of companies trading on the stock market. If you hate to see your balance drop, even by a small amount, a mutual fund may be a frightening investment if you look too closely at it. However, a good fund should provide steady growth over the long term; it's a typical place to invest 401(k) or IRA money, for example.
And just to make matters more confusing... there IS a special type of mutual fund that trades only in money markets. However, this is usually called a "money market fund;" it uses the principle of the mutual fund to spread the risk, while using the practice of the money-market account to focus on short-term, low-risk investments.
Minimum amounts and penalties will vary from institution to institution, so ask before you buy either. However, mutual funds do charge a maintenance fee (the fund manager has to make payments on his Carrera Cabriolet, you know :-), and the size of these fees can have an impact on your overall return and profitability.
To offset this, though, many mutual funds also pay dividends -- that is, in addition to the appreciation you may receive when the fund grows in value over time, you may also be paid dividends when the companies owned by the fund pay them. Most mutual funds (that I know of, at least) automatically pay those dividends by reinvesting them in your mutual fund rather than by writing you a check. So in essence if you own 100 shares of Fidelity Equity Income Fund (symbol: FEQIX) and it goes up (it went up 29 cents a share yesterday to close at 59.33), you still own 100 shares. But if FEQIX pays a dividend of 59.33 cents a share (to make the math easy), you will own 101 shares of FEQIX (100 times 59 cents equals 59 dollars) when the dividend is reinvested.
Last... the Morningstar group (http://www.morningstar.com/) evaluates mutual funds and rates them based on their performance and other characteristics over time. That's a good place to get some unbiased info on specific mutual funds.
Reply:To the best of my knowledge, a money market account is about the same as a saving account with different policies. As to minimum amounts, it varies with the institution your are dealing with. I don't think most have penalties for withdrawals except they may charge you a fee if you make more withdrawals per month, quarter etc. than their plan allows.
Mutual funds are like stock accounts that you buy shares in. You then become and owner in that fund.
Hope this helps a little
Reply:A money market is a type of bank account. The funds in a money market can be used to purchase mutual funds, which are types of investment.
How do i set up a new itunes account without deleting all my current songs on my ipod?
Ok so my comp crash so all my stuff on itunes is gone, but when i plug the ipod into another computer on itunes i cant add more songs or anything without deleting everything i currently have on it and i reallly dont want to loose everything! HELP!
How do i set up a new itunes account without deleting all my current songs on my ipod?
What you have to do is change the setting to add songs manually. But first you must authorize the computer. Go to where it says Advance and from there go all the way down to Authorize the Computer. Type in your Itunes name and password and thats should fixes it.
Reply:if you log in and plug in you ipod. click check for purchases it should bring up all the songs you have bought from the itunes store. it will not bring up any of your cds or anything else. only what you got from itunes so you'll have to upload all your cds again or refind other songs.
How do i set up a new itunes account without deleting all my current songs on my ipod?
What you have to do is change the setting to add songs manually. But first you must authorize the computer. Go to where it says Advance and from there go all the way down to Authorize the Computer. Type in your Itunes name and password and thats should fixes it.
Reply:if you log in and plug in you ipod. click check for purchases it should bring up all the songs you have bought from the itunes store. it will not bring up any of your cds or anything else. only what you got from itunes so you'll have to upload all your cds again or refind other songs.
Any suggestions on who to start a savings account with?
if I am planning to start saving $850.00 a month, into a savings account, which would give me more money over say a year or two; an account that compounds daily or monthly? And, any suggestions of whom I can start saving with? Or, would it be wiser to save up and invest the minimum required for a money market account? The reason I am so interested is I am a single parent and trying to save up for a home, the more you can pay down, the lower the monthly payments will be, and hopefully the better the home I can afford.
Any suggestions on who to start a savings account with?
If You Live on the East Coast in the NY%26lt;Phila,Dela,Maryland area you might want to look into cd's with Commerce Bank.
here is a list of the current rates.
--------------------------------------...
CONVENTIONAL CDs
--------------------------------------...
Only $500 to open!
To open an account, call 1-888-751-9000, click here or visit any store!
The rates are effective September 9, 2007. Terms and rates are subject to change without notice.
Here is a sample of our rates:
Account Type* Annual Percentage Yield (APY)
20-Day 3.00%
Three (3) Months ** 4.00%
Six (6) Months 3.75%
Eight (8) Months ** 5.00%
Nine (9) Months 3.75%
One (1) Year 3.75%
Thirteen (13) Months ** 4.60%
Sixteen (16) Months ** 4.75%
Eighteen (18) Months 3.75%
Two (2) Years 4.00%
Thirty (30) Months 4.00%
Three (3) Years 4.00%
Four (4) Years 4.00%
Five (5) Years 4.25%
check out the 8 month rate.
just a though,Good Luck
Commerce is a good Place to do Business,my Family has been doing Business there since 1985
Reply:very good question! u should first check around in ur area who the major fed funded banks are? get their pamplets; @ the percent rates for both daily, and mon compds. u may also want to check into what each co's trust accts. are paying for a pers. trust acct. u may find that at the end of 1-2 yrs the comp. intrsts. will have given more cash in ur pocket in intrest, compare the $ ratio? good luck.
Reply:First off, congratulations on being able to save such a great sum of money and while being a single parent. I'm in the mortgage industry and it is very tragic out there for those folks who couldn't put any money down as they're losing their homes left and right. You're heading down the exact right path!
Few things to look into in order of low to high return:
1) Savings account = very low interest but safest investment (INGDirect is a good call here)
2) Money Market account with bank (check out bankrate.com)
3) CD = better interest rate but money is locked up. Some folks "ladder" CD's so you might put $850 in a 3 month CD the first month, then $850 in a 6 month CD the second month and so on. It takes a bit of work but gets you better interest with the safety of being at a regular bank. (bankrate.com will have the latest info)
4) Money Market Mutual Fund = better interest rates but no FDIC protection. The first three will typically of FDIC protection so if something goes wrong the government will protect you for up to $100,000. I don't sweat the FDIC when in comes to Money Market Mutual Funds as they're typically just as safe and have never in their history lost money. (I like Vanguard's Prime Money Market account at www.vanguard.com)
5) Treasury Notes = even better with safety of government. You can go to www.treasurydirect.gov for more information.
6) Short term bonds = riskiest but probably the best return you're going to get. You can invest in these typically through any broker such as Scottrade.
I'd recommend #4 as it's safe and will give a decent return. I'd also look up Eric Tyson's Dummies series books. He's a great writer and has written a bunch of books on buying a home such as:
Home Buying for Dummies
Mortgages for Dummies
Personal Finance for Dummies
They're all great books that will give you some insights on how to go about purchasing a home and maybe even getting into one faster.
HTH...
Reply:Most brick and mortar banks pay a tiny amount of interest, usually less than 1%.
Go to www.bankrate.com and do a search of banks paying the highest interest rates on savings.
Right now there are several online banks paying around 5.30% in interest.
When checking out the account, see if you can have a portion of your paycheck automatically deposited into that account by your employer, or see if you can instruct your savings bank to automatically deduct from your checking shortly after each pay period. This way you automatically save and get used to living on less.
Reply:Daily compounding will be better than monthly. Pretty much any bank would be fine, what you are looking for is the best rate of return.
Rather than a savings account though I would suggest you look into other investments. A money market fund or an ETF investing in fixed income securities. While you might pay a little for the investment they should give you an after their fee return that is better than a savings account. Also, I would suggest look into a Roth IRA. The investment income will accumulate tax free (your savings account interest won't) and you can use the funds to make a first time home purchase without paying tax.
Reply:check this link its good
http://datentryworksworkathomeobs.blogsp...
.
Any suggestions on who to start a savings account with?
If You Live on the East Coast in the NY%26lt;Phila,Dela,Maryland area you might want to look into cd's with Commerce Bank.
here is a list of the current rates.
--------------------------------------...
CONVENTIONAL CDs
--------------------------------------...
Only $500 to open!
To open an account, call 1-888-751-9000, click here or visit any store!
The rates are effective September 9, 2007. Terms and rates are subject to change without notice.
Here is a sample of our rates:
Account Type* Annual Percentage Yield (APY)
20-Day 3.00%
Three (3) Months ** 4.00%
Six (6) Months 3.75%
Eight (8) Months ** 5.00%
Nine (9) Months 3.75%
One (1) Year 3.75%
Thirteen (13) Months ** 4.60%
Sixteen (16) Months ** 4.75%
Eighteen (18) Months 3.75%
Two (2) Years 4.00%
Thirty (30) Months 4.00%
Three (3) Years 4.00%
Four (4) Years 4.00%
Five (5) Years 4.25%
check out the 8 month rate.
just a though,Good Luck
Commerce is a good Place to do Business,my Family has been doing Business there since 1985
Reply:very good question! u should first check around in ur area who the major fed funded banks are? get their pamplets; @ the percent rates for both daily, and mon compds. u may also want to check into what each co's trust accts. are paying for a pers. trust acct. u may find that at the end of 1-2 yrs the comp. intrsts. will have given more cash in ur pocket in intrest, compare the $ ratio? good luck.
Reply:First off, congratulations on being able to save such a great sum of money and while being a single parent. I'm in the mortgage industry and it is very tragic out there for those folks who couldn't put any money down as they're losing their homes left and right. You're heading down the exact right path!
Few things to look into in order of low to high return:
1) Savings account = very low interest but safest investment (INGDirect is a good call here)
2) Money Market account with bank (check out bankrate.com)
3) CD = better interest rate but money is locked up. Some folks "ladder" CD's so you might put $850 in a 3 month CD the first month, then $850 in a 6 month CD the second month and so on. It takes a bit of work but gets you better interest with the safety of being at a regular bank. (bankrate.com will have the latest info)
4) Money Market Mutual Fund = better interest rates but no FDIC protection. The first three will typically of FDIC protection so if something goes wrong the government will protect you for up to $100,000. I don't sweat the FDIC when in comes to Money Market Mutual Funds as they're typically just as safe and have never in their history lost money. (I like Vanguard's Prime Money Market account at www.vanguard.com)
5) Treasury Notes = even better with safety of government. You can go to www.treasurydirect.gov for more information.
6) Short term bonds = riskiest but probably the best return you're going to get. You can invest in these typically through any broker such as Scottrade.
I'd recommend #4 as it's safe and will give a decent return. I'd also look up Eric Tyson's Dummies series books. He's a great writer and has written a bunch of books on buying a home such as:
Home Buying for Dummies
Mortgages for Dummies
Personal Finance for Dummies
They're all great books that will give you some insights on how to go about purchasing a home and maybe even getting into one faster.
HTH...
Reply:Most brick and mortar banks pay a tiny amount of interest, usually less than 1%.
Go to www.bankrate.com and do a search of banks paying the highest interest rates on savings.
Right now there are several online banks paying around 5.30% in interest.
When checking out the account, see if you can have a portion of your paycheck automatically deposited into that account by your employer, or see if you can instruct your savings bank to automatically deduct from your checking shortly after each pay period. This way you automatically save and get used to living on less.
Reply:Daily compounding will be better than monthly. Pretty much any bank would be fine, what you are looking for is the best rate of return.
Rather than a savings account though I would suggest you look into other investments. A money market fund or an ETF investing in fixed income securities. While you might pay a little for the investment they should give you an after their fee return that is better than a savings account. Also, I would suggest look into a Roth IRA. The investment income will accumulate tax free (your savings account interest won't) and you can use the funds to make a first time home purchase without paying tax.
Reply:check this link its good
http://datentryworksworkathomeobs.blogsp...
.
Do you need a savings account in order ot have a checking account?
This question applies to Bank of America.
If you want a checkings account (campus edge checking account), do you need to have a savings account open.
There's not even $200 in the checkings and I don't have the $300 to put in the savings in order to waive the monthly fees.
Can I cancel the savings and stay only with the checkings account?
Do you need a savings account in order ot have a checking account?
I used to work for Bank of America and am now with one of their competetors, I too would say get away from them...lol!
But, to answer your question, you do NOT have to have a savings account at BOA (usually only Credit Unions will make you have a savings).
If you have a checking account and link it to your savings account and have BOA do an Auto-transfer from your checking to your savings monthly of atleast $25, then your savings account is free and you won't have minimum balance requirements, plus you get to save money and you could participte in the "Keep the Change" program they have (which is really cool).
They also have a custom savings, which only asks that you have $25-$50 balance requirement but you can only withdrawal from it once a month, but if it is for saving purposes, then why not?!
Or you could just have the checking!
I hope this helped - let me know if you need more info!
Reply:there are lots of banks that you can use that do not require you to have a savings account. Why not switch?
I've found that Bank of America tends to cheat people out of their money anyway.
Reply:You can go to washington Mutual and get a Free checking account without having a savings account.
most popular name
If you want a checkings account (campus edge checking account), do you need to have a savings account open.
There's not even $200 in the checkings and I don't have the $300 to put in the savings in order to waive the monthly fees.
Can I cancel the savings and stay only with the checkings account?
Do you need a savings account in order ot have a checking account?
I used to work for Bank of America and am now with one of their competetors, I too would say get away from them...lol!
But, to answer your question, you do NOT have to have a savings account at BOA (usually only Credit Unions will make you have a savings).
If you have a checking account and link it to your savings account and have BOA do an Auto-transfer from your checking to your savings monthly of atleast $25, then your savings account is free and you won't have minimum balance requirements, plus you get to save money and you could participte in the "Keep the Change" program they have (which is really cool).
They also have a custom savings, which only asks that you have $25-$50 balance requirement but you can only withdrawal from it once a month, but if it is for saving purposes, then why not?!
Or you could just have the checking!
I hope this helped - let me know if you need more info!
Reply:there are lots of banks that you can use that do not require you to have a savings account. Why not switch?
I've found that Bank of America tends to cheat people out of their money anyway.
Reply:You can go to washington Mutual and get a Free checking account without having a savings account.
most popular name
How do interest rates work for a savings account?
I'm about to get my own bank account. I wanted to get a debit card at first, but a friend told me that if I use a savings account, I can earn interest. But I don't really know how it works. And she doesn't quite know either. Btw I'll be 14 when I get it.
How do interest rates work for a savings account?
Most interest rates at banks are compounded on a regular scale, either daily, monthly, quarterly, or yearly. What that means is that the annual percentage yield (APY) is based off of what you would make in a given year.
For example: let's say you had a savings account with $1000 and a 5% APY (good luck finding one of these now!). Essentially, over a 12-month period, the bank would give you the equivalent of 5% of the total balance if the balance stayed stable ($50 split over the year). So, if you didn't put any more money into the account, and the interest was paid out, let's say quarterly, every 3 months you would get a $12.50 interest payment.
Since most balances are variable (i.e. nobody keeps the same amount of money in the account) and interest changes the principal (once that first $12.50 payment goes in, your NEW balance is $1012.50, and the APY of 5% is based off of THAT, and not $1000 anymore) it can be sort of confusing. The benefit is that you are ALWAYS making money (even if it is only a penny) as long as you have the savings account open.
The downside is that it normally doesn't have as easy access as a checking account (e.g. no check cards usually) unless it is linked to another account (either checking or money market). You can usually get ATM access, but many savings accounts have minimum balance requirements for opening or maintaining.
Good luck.
Reply:i would go to your local credit union and open a christmas account. they have great interest rates, but they will probably limit withdraws from the account. But if you're 14, you should be able to get into the habit of not having so many withdraws anyways.
Good Luck.
Reply:Credit Union interest rates are better then Banks so check them out first and while you are on the internet, put it to use look up your local banks and credit union websites and check out the interest rates I bet credit unions are paying more anyway Take Care and Good Luck
How do interest rates work for a savings account?
Most interest rates at banks are compounded on a regular scale, either daily, monthly, quarterly, or yearly. What that means is that the annual percentage yield (APY) is based off of what you would make in a given year.
For example: let's say you had a savings account with $1000 and a 5% APY (good luck finding one of these now!). Essentially, over a 12-month period, the bank would give you the equivalent of 5% of the total balance if the balance stayed stable ($50 split over the year). So, if you didn't put any more money into the account, and the interest was paid out, let's say quarterly, every 3 months you would get a $12.50 interest payment.
Since most balances are variable (i.e. nobody keeps the same amount of money in the account) and interest changes the principal (once that first $12.50 payment goes in, your NEW balance is $1012.50, and the APY of 5% is based off of THAT, and not $1000 anymore) it can be sort of confusing. The benefit is that you are ALWAYS making money (even if it is only a penny) as long as you have the savings account open.
The downside is that it normally doesn't have as easy access as a checking account (e.g. no check cards usually) unless it is linked to another account (either checking or money market). You can usually get ATM access, but many savings accounts have minimum balance requirements for opening or maintaining.
Good luck.
Reply:i would go to your local credit union and open a christmas account. they have great interest rates, but they will probably limit withdraws from the account. But if you're 14, you should be able to get into the habit of not having so many withdraws anyways.
Good Luck.
Reply:Credit Union interest rates are better then Banks so check them out first and while you are on the internet, put it to use look up your local banks and credit union websites and check out the interest rates I bet credit unions are paying more anyway Take Care and Good Luck
How do I find out if my Paypal account has been upgraded to Premier?
I rarely use eBay and Paypal, but I got a bunch of stuff that I want to sell. I vaguely remember goofing around with my Paypal account on the Premier membership but I want to make sure I have upgraded before I sell. Thanks in advance.
How do I find out if my Paypal account has been upgraded to Premier?
login to your paypal account and go to "my account" it will tell you what your level of service is.
How do I find out if my Paypal account has been upgraded to Premier?
login to your paypal account and go to "my account" it will tell you what your level of service is.
How hard is it to get a merchant account through yahoo small business via first data?
I am looking to start my own travel agency online, through yahoo small business i need to get a merchant account. Will it hard to get one from first data?
How hard is it to get a merchant account through yahoo small business via first data?
Virtually impossible. This is because travel agencies themselves are frowned upon due to their high chargeback potential and to make it worse online transactions are the most difficult accounts to get. This means that without providing a hefty deposit, reserve, or letter of credit to First Data it almost certainly isn't going to happen. Sorry.
How hard is it to get a merchant account through yahoo small business via first data?
Virtually impossible. This is because travel agencies themselves are frowned upon due to their high chargeback potential and to make it worse online transactions are the most difficult accounts to get. This means that without providing a hefty deposit, reserve, or letter of credit to First Data it almost certainly isn't going to happen. Sorry.
How do I transfer iTunes movies from one account to another each on separate commuters?
I got a new laptop and set up an iTunes account I want to transfer my movies without the holder of the old account to have to authorize my laptop
How do I transfer iTunes movies from one account to another each on separate commuters?
You can try this software to backup the stuffs in your iPod/iPhone/iTouch. Recover lost or missing music, backup and restore all of your iPod/iPhone/iTouch content, including your favorite songs, videos, photo files and Play Lists, and that's not all. You can try this software to backup songs, videos, photos in iPod to PC, copy iPod songs, videos, photos to new ipod, computer or notebook.
http://www.dvd-video-converters.com/ipod...
Some useful information you can get on the official site:
http://www.apple.com
name latin
How do I transfer iTunes movies from one account to another each on separate commuters?
You can try this software to backup the stuffs in your iPod/iPhone/iTouch. Recover lost or missing music, backup and restore all of your iPod/iPhone/iTouch content, including your favorite songs, videos, photo files and Play Lists, and that's not all. You can try this software to backup songs, videos, photos in iPod to PC, copy iPod songs, videos, photos to new ipod, computer or notebook.
http://www.dvd-video-converters.com/ipod...
Some useful information you can get on the official site:
http://www.apple.com
name latin
What's the best company to open an account with for a first time stock trader?
I'm going to start small so I can't pay large fees. I'm going to do this online only. I don't want to meet with a financial advisor.
What's the best company to open an account with for a first time stock trader?
I would start with either Ameritrade or Etrade. Since it seems like you are a novice investor, I wouldn't worry about getting into the the more advanced programs out there just yet. I like ameritrade becomes it is very simple and easy to use, and the commision terms are straight and simple. $9.99 a trade. You also will get 90 days of free trading if you transfer $2,000.00 or more. Good luck!
Reply:e-trade!
Reply:You may also want to consider joining our stock picking group to share experiences/strategies with other stock traders:
http://finance.groups.yahoo.com/group/Tr...
We do polls on online brokers every once in a while too.
Reply:etrade or ameritrade or any of the other major companies will give you roughly the same service.
However, small stock trades for beginners are a poor investment strategy. You will most likely lose money. Beginners trading in small quantities inevitably hold a stock too long, or buy at the wrong time.
Consider using mutual funds to build your invest ment portfolio first - they are either managed by computer systems (indexed funds) or actively managed by a team of experts. Either way, they can diversify your investment and ensure stocks are bought and sold at the right time. An index fund from Vanguard will have very low management costs, so you are less likely to lose money. You can open a ROTH IRA with Vanguard and invest within that, to further increase your tax efficiency.
Trading stocks involves fees every time you trade; you don't pay a fee with a mutual fund.
If you do not have sufficient to start in a mutual fund (the minimum investment at Vanguard is $1000 in their Star fund) then consider buying ETFs through one of the online brokers. This again will spread your risk, and because they move automatically with indexes, will also reduce your risk.
Reply:http://goldenbullpicks.com is perfect for what you want.
Reply:Here's a link to look at:
http://articles.moneycentral.msn.com/Inv...
Considerations:
Would you miss the money if you lost it?
Only play with what you can afford to lose.
The market is a dangerous place for new players and you are best to equip yourself with some knowledge before throwing money at the market.
What's the best company to open an account with for a first time stock trader?
I would start with either Ameritrade or Etrade. Since it seems like you are a novice investor, I wouldn't worry about getting into the the more advanced programs out there just yet. I like ameritrade becomes it is very simple and easy to use, and the commision terms are straight and simple. $9.99 a trade. You also will get 90 days of free trading if you transfer $2,000.00 or more. Good luck!
Reply:e-trade!
Reply:You may also want to consider joining our stock picking group to share experiences/strategies with other stock traders:
http://finance.groups.yahoo.com/group/Tr...
We do polls on online brokers every once in a while too.
Reply:etrade or ameritrade or any of the other major companies will give you roughly the same service.
However, small stock trades for beginners are a poor investment strategy. You will most likely lose money. Beginners trading in small quantities inevitably hold a stock too long, or buy at the wrong time.
Consider using mutual funds to build your invest ment portfolio first - they are either managed by computer systems (indexed funds) or actively managed by a team of experts. Either way, they can diversify your investment and ensure stocks are bought and sold at the right time. An index fund from Vanguard will have very low management costs, so you are less likely to lose money. You can open a ROTH IRA with Vanguard and invest within that, to further increase your tax efficiency.
Trading stocks involves fees every time you trade; you don't pay a fee with a mutual fund.
If you do not have sufficient to start in a mutual fund (the minimum investment at Vanguard is $1000 in their Star fund) then consider buying ETFs through one of the online brokers. This again will spread your risk, and because they move automatically with indexes, will also reduce your risk.
Reply:http://goldenbullpicks.com is perfect for what you want.
Reply:Here's a link to look at:
http://articles.moneycentral.msn.com/Inv...
Considerations:
Would you miss the money if you lost it?
Only play with what you can afford to lose.
The market is a dangerous place for new players and you are best to equip yourself with some knowledge before throwing money at the market.
How do I respond to letter regarding an account that the customer has disconnected I want to win back?
The Customer disconnected 300 of their 500 lines of service. The customer is unhappy with the sales rep,because he never returns his calls. The company had old phones that did not work , so that activated with another company
How do I respond to letter regarding an account that the customer has disconnected I want to win back?
they probably have a contract with new company, so you might have to wait a year or more to rebid the business
Reply:Why didn't you talk to the company, while he was a client to see how things were going?. He is gone for a year or two.
Reply:I would contact the customer and ask what you can do to win his/her business back? Ask what would make them happy - keep it simple...
girl name
How do I respond to letter regarding an account that the customer has disconnected I want to win back?
they probably have a contract with new company, so you might have to wait a year or more to rebid the business
Reply:Why didn't you talk to the company, while he was a client to see how things were going?. He is gone for a year or two.
Reply:I would contact the customer and ask what you can do to win his/her business back? Ask what would make them happy - keep it simple...
girl name
How do you add pictures to your gaia account profile?
I want to add pictures (the ones they provide) to my profile. How? Also I want to be able to edit the titles and stuff.
How do you add pictures to your gaia account profile?
It's the same way as if you are doing your posts in forums, BBC code. Except you have to type in the codes by yourself.
But, if you go to photobucket, when you go to a pic. They already have the code with its URL ready for you, so just copy it and put it in your profile.
How do you add pictures to your gaia account profile?
It's the same way as if you are doing your posts in forums, BBC code. Except you have to type in the codes by yourself.
But, if you go to photobucket, when you go to a pic. They already have the code with its URL ready for you, so just copy it and put it in your profile.
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