Money Stasher » Editorials

One Trillion Dollars: In Pictures

Stasher — Thu, 07 Jan 2010 04:34:06 +0000

We have all heard people loosely throw around the term “a billion dollars” or more so “a trillion dollars”. It’s almost impossible for us to visualize so much money. It’s not our fault, our minds are just not wired for such large numbers.

So what does a trillion dollars look like? Follow along at pagetutor.com where they show you What one TRILLION dollars looks like. Interested in seeing the US national debt in 100 dollar bills? That’s scary.

Free International/Domestic Wire Transfers

Stasher — Wed, 18 Nov 2009 01:38:54 +0000

Many people do not realize that some banks do offer free outgoing international and domestic wire transfers to their customers. Even using the SWIFT code for the destination bank/account, an intermediary may still be used.

You must also understand that although the wire transfer may be fee free, there may be a processing free. Also, the fee free option when sending money internationally may use a low exchange rate, so you need to determine if using the fee free option is better than using a higher exchange rate option, which will depend on the rates and the amount for which you are sending.

Below is a list of banks which offer fee free international or domestic wire transfers:

HSBC – Business Direct Checking
10 Free pe mo
Open a Schwab Investors credit card and a SchwabOne account with no minimum balance requirement, and the fees for wire transfer are waived.
Washington Mutual Accounts – These are only for existing WaMu accounts that were taken over by Chase. You should be able to send internationally with only a small charge from an intermediary.
XeTrade is also another good method for sending money by wire transfer or a variety of other ways, though it is not a free option

Know of a bank offering free outgoing wire transfers? Post them up!

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Bank Cash Offers for Checking Accounts

Stasher — Sat, 03 Oct 2009 19:04:36 +0000

Banks frequently make cash offers to potential customers in order to encourage them to open a new checking account and bring their banking business to their institution. Cash offers for checking accounts usually range from $25 to $200, and you usually only need to make a minimum deposit and have a direct deposit the first month.

So why do banks offer cash for opening a checking account? It’s simple: Your business is worth it. If a bank can get you to switch for only $100, your likely to also bring your savings accounts over, and maybe even take out a loan from your new bank. In the long run, your business is worth much more than $100, or even $200.

The bigger banks, such as Bank of America, seem to almost always have an offer available. Bank of America will usually give you $100 cash for opening a new account, and with their ongoing Keep The Change promotion you can earn up to $350 the first year just for switching to them ($100 opening bonus, plus $250 KTC match) . Capital One has recently entered the personal banking market, and have really been pushing their $150 cash offer to get customers in the doors. Capital One does not allow customers to open their account online, making the offer less enticing for those who open these accounts just for the perks.

Before opening a new account, decide if you want to work with a local Credit Union (who are less likely to make enticing checking offers) or if you want a large nationwide bank. If you decide to change to a nationwide bank, make sure you get something for your trouble by browsing your list of checking account offers.

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