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Banking Tips

Although there are security issues, online banks claim to offer a secure, convenient place to keep your money and conduct transactions. Sadly, many customers are not aware that they can better protect their money, avoid costly surprises and maximize their earnings if they know what things to look for in an online bank. Good decisions matter when it comes to online banking.

ING Direct

ING Direct is not an ordinary bank. To start with, it doesn’t even use the word “bank” in its official name. Being a completely online bank, everything is done over the Internet, the phone or by automatic banking machine (ABM). Another thing that makes it different is that it has no branches, thus spending less on labor costs and other operating expenses. Because of this, ING Direct promises its customers a much lower interest on loans and higher interest on deposits and investments. Aside from that, no service charges and other fees are imposed on its clients.

Other Canadian Banks

Aside from the Bank of Montreal, the Canadian Imperial Bank of Commerce and TD Bank, you can also opt to seek financial services and products from other Internet banks based in Canada. The following are just a few of them.

Credit Suisse

Credit Suisse is a market leader when it comes to online banking. Operating under the Credit Suisse Group, this bank is based in Zurich, Switzerland and is the second largest Swiss bank, after UBS AG. Founded in 1856, the bank has three major divisions: private banking, investment banking and asset management.

Barclays Bank

With around 27 million customers in more than 50 countries in Europe, the Americas, Australia and Africa, Barclays is indeed a banking giant. Based in Canary Wharf, London, UK, it is the world’s largest company by assets (almost $2 trillion) and the 15th largest banking institution by market capitalization (almost $95 billion).

Canadian Internet Banks

Banking is a major industry in Canada. It plays a key role in the country’s financial system and economic growth. In fact, banks account for more than 70 percent of the assets of the financial services sector of the country.

Online Banking Tip – Using Public Computers

You will never know when you need to access your bank account on the Internet. Normally, you would use a “safe” computer, like your laptop, your computer at home, or one that you have in the office. The problem is, what if you don’t have access to any of those computers and you really need to do a bank transaction?

US Internet Banks

Americans love everything to be quick and easy. That’s not a surprise because people really need to cope with the fast-paced world. Times have changed and today, every second counts and every dollar matters. It is now very difficult to find time to go to the bank, fall in line for what seems like a lifetime and wait for the teller to tell you that your transaction has been successfully made. This is exactly why online banking became a hit in the United States. It is easy, fast, efficient and above all, convenient.

Other US Banks

The United States is home to many online banks offering financial services to millions of clients within and beyond its borders. Although many of the largest Internet banks are the online franchises of some of the standard banking giants such as the Bank of America and Wells Fargo, some are full online banks with no physical branches for person-to-person transactions. One of these is the Bank of Internet. Apart from that, here are some of the youngest online banks gaining tremendous popularity and growing base of customers.

Nationwide International Limited

Nationwide International Limited is a subsidiary of the Nationwide Building Society, based on the Isle of Man. It is a major provider of a diverse range of offshore savings accounts, which are primarily in pound sterling, euro and US dollar. These accounts are designed to meet the needs of British expatriates, but are also suitable for other banking and financial purposes.

Deposit Insurance

Some people are afraid to keep their money in a bank despite all the benefits because they are afraid that if the bank fails, they will lose their money. Aside from that, failure of banks and other financial companies can produce a much greater impact and a series of harmful events that can affect the economy as a whole. Many governments around the world understand this; thus, they implement a measure called “deposit insurance system.”

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