You’ve just gotten home from work and you’re going through the day’s mail just before dinner. There’s a letter from your bank. You know what it is before you open it because you recognize the packaging, it’s oh so familiar. Your bank is writing to inform you that your account is overdrawn and of the fees assessed. There’s more…

There’s a second letter, also from your bank. This one states the fact that due to unpaid fees and a “lingering” negative balance your account has been closed and your name and account info have been reported to Chexsystems.

Overdraft Item fees are usually charged when a customer writes a check or makes a withdrawal of some sort (most times with ATM, debit or check cards) that exceeds the balance in the their checking or savings account. Overdrafts could occur for any number of reasons.  (more…)

Most business owners and financial managers aren’t necessarily aware of the methods and factors that banks utilize to control and monitor their loan facilities with commercial customers. We are talking about two types of loans essentially, term loans, and also operating lines of credit, also called ‘revolvers’ by some. (Revolver – the credit line revolves, it goes up and down on a daily basis…)

Banks essentially use several different strategies to ensure they have maximum control and influence on the business borrower. (more…)

A key to finding the right loan is to consider all available sources. The emergence of home equity programs has enlarged the field of lenders. Likely lenders are among the following:

Banks.

Commercial banks are attracted to home equity lines as a way to sell other bank services, such as savings accounts and credit cards. Banks have been some of the most aggressive marketers of home equity loans, offering low closing costs, special initial interest rates, and no annual fees.

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