|
Comparing banks to find a financial homeBetween the list of bank failures in 2010 and drops in customer satisfaction at some of the nation's biggest banks, many consumers are searching for a new financial home. From community banking institutions and credit unions to direct online banks, you can compare alternatives to financial giants to find a great fit for your spending and saving style.
Rates to celebrateWhether you are looking to open a savings account or get a new credit card, community banks and credit unions typically offer very friendly rates for consumers. Customers are taking note, too. A 2009 survey of the Independent Community Bankers of America shows that more than half of community banks saw an increase in deposits from new customers. Be sure to research interest rates and how each bank compounds interest to understand how you can grow your money.Account educationAs you compare banks, be sure to get an in-depth tutorial of the fees that may be imposed on your account. [Read the full article]
Iran's Central Bank governor is calling for a cut in imports to boost domestic production as the country grapples with tougher international sanctions over its nuclear program. Four rounds of U.N. Security Council sanctions and separate penalties imposed by the United States and its European allies have hit Iran's economy as the country battles inflation and unemployment but have failed to persuade the country to halt a key part of its nuclear program. [Read the full article] Gap Inc. has set up an online site for Canadian customers to shop from its Gap, Banana Republic and Old Navy stores, the company said Tuesday. The company built a center in Bolton, Ontario to fulfill orders. Customers will not have to pay import or customs duties. Earlier this month the San Francisco-based company announced for the first time that it was offering international shipping to 55 countries, allowing customers in Australia, Mexico, Brazil to order from its brands. By the end of the year, the retailer has said it will make online shopping available in up to 65 countries. [Read the full article] Wonder how to get your kids hooked on savings? You can start them as young as third grade, when allowance-giving kicks in. And savings account nuts and bolts, such as interest rates, fees and minimum deposits, offer teachable moments along the way. Some banks, websites and credit unions are even upping the fun factor with prizes, social networking and Web tutorials. "Teach kids to put off immediate gratification for long-term gain," says Laura Fisher, director of the American Bankers Association Education Foundation. "It's a valuable lesson all through life." Sorting through kids' savings accounts may take some time. Big banks may not offer the fun, hands-on training that kids need. That's why it makes sense to turn to credit unions, community banks and online financial sites. For Web-savvy kids, online banks make sense. For example, online bank ING Direct is easy to use and doesn't charge fees. [Read the full article]
|