What Is Early Warning Services (EWS)?

If you’ve ever been denied an application for a bank account, you may be wondering what exactly went wrong. While there are several possibilities out there, one potential cause is Early Warning Services. This risk detection service screens bank account applicants to help financial institutions make sound decisions. While the goal may be fraud prevention,…

What Is Chase Private Client?

JP Morgan Chase is the largest bank in the United States and is the third largest bank in the world. With a bank of that size, you would expect some perks when banking with them and Chase doesn’t disappoint. Chase Private Client services offer more robust clients with a combination of concierge banking, expert investment…

What Is a Debit Card and What Is It Used For?

A debit card adds both security and convenience to managing your money. But how exactly can you get one? We’ll explain all of the details, from how to take advantage of beneficial features to what kind of fees you can expect to pay. You’ll even learn how to monitor your debit card and keep your…

What Is a Checking Account?

What is a checking account? This may seem like a silly question to most people, on par with asking the definition of a bank. But a checking account can mean different things to different people and specifics can also vary greatly from bank to bank. Keep reading to find out the details of how it…

What Is a Savings Account?

Instead of keeping all of your money in an easily accessed checking account where you’re more apt to spend it, it’s smart to spread some of the excess into a savings account. There are a few restrictions, but you have the chance to earn interest on the money within the account. That’s why it’s better…

What Is a Wire Transfer?

They don’t advertise like they used to, but you may remember commercials from your younger days from Western Union. The stranded youth calling home for some cash, while outside it’s pouring down rain upon a curbed Toyota. The young person gets the cash from his parents to pay a mechanic through a wire transfer provided…

5 Easy Ways to Avoid ATM Fees

The best way to stick to any budget is to prepare for emergencies in advance. You might have an extra savings fund set aside or keep meals in the freezer to avoid pricey take out on late nights. Your Plan B can save you money in places where you might ordinarily leak funds, making it…

What Is an ACH Transfer?

There are a lot of options available for sending and receiving money these days. Long gone are the days of mailing cash or even checks to take care of our everyday expenses. After all, when is the last time you mailed a birthday card with actual bills in it? Alternatively, one of the most common…

ChexSystems – Credit System For Checking Accounts

What is ChexSystems? ChexSystems works for banks and credit unions much like the credit bureaus: Equifax, Experian, and TransUnion. ChexSystems helps banks decide whether or not to open a checking account for a new customer. However, there are some differences in the way they maintain and report data. ChexSystems does not make any decisions regarding…

What Is a Certificate of Deposit (CD)?

When you first start saving money consistently, you probably just transfer the funds into a savings account linked to your checking account. But as that amount grows, it’s time to start thinking about a more robust savings strategy. A traditional savings account provides the least amount of interest possible. While there are certainly advantages to…