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Confirming that a Bank is FDIC Insured

Category: Articles- gotalkmoney.com- 11:53 am/ May 31, 2008

When it comes to banking online, some people tend to wonder if a bank is legit or not. Sometimes we notice that some rates are too good to be true, making us believe that the bank might just take our money and run. Before you bank with anyone online, it’s important that you follow a few steps to make sure a bank is legit before you proceed and open up an account.

Check for the FDIC insurance logo

The first thing you’ll want to do before you even start your research is to look for the FDIC insurance logo. The logo looks something like the logo here –

Now remember a bank can just throw up a logo even if they aren’t legit. It’s not to hard to copy an image and throw it on a website. The best thing to do after you spot this logo is to head over to the FDIC’s bank find section of their website and search for the bank. If nothing pops up, you may be looking at a scam. If the bank does pop up, this means that it is FDIC insured and your money will be safe.

Another thing you need to look out for when you do your bank find is to make sure that bank is operating under a different name. Some banks may open up a different name for their online bank. Make sure that you know this information before doing your search. If it becomes confusing, simply call the bank itself and ask for the FDIC certificate number.

Once you find out if the bank is insured, there are a few other things you’re going to want to spot before filling out the information.

Spot the SSL on the browser. Whether you’re surfing with Internet Explorer or Firefox, etc, make sure that the application and the bank website itself is in SSL mode. This is a mode that protects yourself from hackers when you send sensitive information from your computer to the bank’s servers. The best way to find out is to look for the lock either on the address bar or on the lower toolbar.

Make sure the bank has a phone number. Sometimes people overlook this one. When you’re banking with an online bank, make sure the bank itself has a phone number so that if anything goes wrong, you can simply call them up instead of waiting for an e-mail response.

These are the most important parts when it comes to working online banks. As long as you make sure that the bank is insured and you have a proper way of contacting, being safe with your money shouldn’t be an issue anymore. It also never hurts either to look for reviews on the banks as well.

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Looking at Quantum National Bank

Category: Bank Profiles- gotalkmoney.com- 2:32 pm/ May 27, 2008

A new bank has popped up on the majority of the Gotalkmoney.com top ten charts and we figured we’d take a look at this bank.  The bank’s name is Quantum National Bank and was established in 1995, located in Georgia and is FDIC insured.

Below are their rates as of May 27, 2008.

3 month – 3.09% APY

6 month – 3.25% APY

1 year – 3.32% APY

18 month – 3.65% APY

2 year – 3.85% APY

3 year – 4.10% APY

5 year – 4.40% APY

All of their CDs require a $1,000 minimum.  I tried looking online to see if I could find any reviews on the bank but couldn’t find anything worth of value.  If you’re interested in checking out the bank, feel free to visit their official banking website.

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Arizona Residents: Earn 6.01% on Checking

Category: Bank Deals- gotalkmoney.com- 3:09 pm/ May 26, 2008

Arizona Bank and Trust is currently offering one of the best checking deals in the United States.  The only downfall is that you have to be an Arizona resident.  This offer was open to all but now is open to Arizona residents only.  Let’s take a look at how the checking program works –

You will have to open up a rewards checking account and that account will only earn 6.01% APY on balances up to $20,000.  Anything after this will not receive this rate.  Customer service has said that you may open up more than one account.  Anything over $20,000 will earn 1.51% APY as of May 26, 2008.

In order to receive this rate, you’ll have to meet the following requirements each month –

  • Make 12 signature based debit transactions

  • 1 direct deposit or ACH debit

  • Receive e-statements

In order to open the account, you’ll need a minimum of $25.  Most people have said that it takes up to ten to fourteen days to open up the account.  This rate of 6.01% is guaranteed until April of 2009 so act fast!  For more information, visit Arizona Bank and Trust’s website.

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Looking at SmartyPig.com

Category: Bank Profiles- gotalkmoney.com- 10:47 am/ May 18, 2008

Whether you’re a casual reader or you tend to read a lot of blogs, you’ve probably came across the name “SmartyPig”.  SmartyPig is an online savings account that allows you to set goals for yourself.  Friends and family can see your goals and even contribute to them.

When signing up for the website, you will have to set up a saving goal for yourself.  This savings goal must be at least $250.  Each month you must make a $25 via an ACH transaction.

Some of the downfalls of the savings account include not being to transfer your funds to a third party bank and when you want to withdrawal your money; you must make a call to request a check.  Besides these two points, there haven’t been any other complaints.

SmartyPig is FDIC insured.

For more information, visit their official website.

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Get $150 in Gift Card with Citi Bank

Category: Bank Deals- gotalkmoney.com- 1:48 pm/ May 15, 2008

Open up a Citi Bank checking account and do the qualifying activities and you can see $150 worth of gift cards in your pocket.  Not only will you get $150 in gift cards or 16,000 ThankYou points, you’ll also receive triple the amount of points you can get with your debit card purchases.

Here’s what you need to do in order to qualify –

  • Open up an account by July 31, 2008 and deposit at least $1,000.

  • Within 60 days of opening, you must link your checking account to Citi Bank’s ThankYou Network.

  • Must complete one direct deposit per month, two electronic bill payments or five signature debit card payments for three consecutive months.

Once you meet these criteria, you will see your points show up in your account within 120 days.

For information or to sign up, visit the official Citi Bank website.

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