Free GPS for opening new HSBC account
Start an HSBC Premier Relationship in the United States with a minimum of $50,000 in new money by November 21, 2008 and choose from a TomTom® ONE 130.S GPS or a one-year membership for Clear,®* the fast pass for airport security. For more details click here.
Bank of America and Wachovia followed by KeyCorp cuts prime rate to 4 percent
Bank of America and Wachovia announced that it is lowering its prime-lending rate to 4.00 percent from 4.50 percent, followed by KeyCorp on October 30th. The cut in the prime rate matches the 0.5 percent rate cut the Federal Reserve Board announced Wednesday. The prime rate is often used for consumer loans such as car loans and home equity loans.
My Bank Tracker launches widget “Best bank rates 1.0″
My Bank Tracker is excited to announce the launch of their brand first "Best Bank Rates 1.0" widget. Users can add the widget to their web or blog pages to keep up with the latest bank rates. The widget is customizable to your standards and preferences. Bank rates are updated automatically. No need to check-in or retrieve new rates! Top rates include CDs, mortgages and savings. To add this new dynamic feature to your pages click here.
Saving for College
With the market swaying as it is, planning a head has never been more important. If you, like many have children looking to make the leap to higher education, you are aware of the hefty costs associated with today's tuition's. While you or your child is applying and dreaming of a life away from home, we recommend you read up on 529 college-savings plans. 529 plans are an education savings plan operated by a state or educational institution designed to help families set aside funds for future college costs. It is named after Section 529 of the Internal Revenue Code which created these types of savings plans in 1998. A 529 plan offers tax benefits, with two ways to invest; (1) Directly with the 529 Plan manager (2) Through a financial advisor. For more on 529 plans visit here, or you can also try Morning Star to help decide the right path for you and your family. Once it becomes time to choose a student loan visit Simple Tuition which offers great tools to help you make the right decision. Feel free to contact My Bank Tracker through our contact page with any additional questions or leave us a comment.
Get free movie ticket and practical money management tips
Wells Fargo & Company said it has offered Practical Money Skills for Life to more than 1 million college students the last five years. Practical Money Skills for Life features two online credit education lessons sponsored by Wells Fargo and Visa. Wells Fargo invites every new College Credit Card customer to take the 10-minute online Practical Money Skills for Life lessons at wellsfargo.practicalmoneyskills.com. Take this lesson and get free movie ticket.
Banking goes mobile despite concerns on security
With 23% of mobile phone user’s activity performing mobile banking in the US, it has become an important venture not only for the banking industry, but the cellular companies as well. For consumers it’s safe to say adapting this form of banking will take time, but as more users begin to leverage their phone for financial needs, ensuring we are doing so safely is the right step to success.
MBT launches 2 new Finance Tools
My Bank Tracker is pleased to announce the addition of Bank Locator and Interest Calculator. By visiting any of our bank profile pages you now have the ability to leverage these tools in making better banking decisions. Bank Locator - Even with the option for online banking, My Bank Tracker understands the need to having your bank readily available. Recognizing this, My Bank Tracker has developed Bank Locator, a tool that can pin point the closest bank based on your zip code. We recommend entering your home and work zip codes to see how convenient that particular bank is to you. Powered by Google Maps, the Bank Locator can ensure you make the right choice when choosing your next bank, or avoiding those hefty ATM fees. Interest Rate Calculator - With today's economy, Banks are looking for any opportunity to sway confused consumers to join/switch over by offering high interest rates. Sometimes this can become overwhelming, and in hopes to making your choice a little easier, take the opportunity to use our Interest Rate Calculator to see if that next account is as valuable to you as your thought it was.
Nine of the largest US banks are forced to accept partial government ownership
Under the program, Treasury will purchase up to $250 billion of senior preferred shares on standardized terms as described in the program's term sheet. The program will be available to qualifying U.S. controlled banks, savings associations, and certain bank and savings and loan holding companies engaged only in financial activities that elect to participate before 5:00 pm (EDT) on November 14, 2008. Treasury will determine eligibility and allocations for interested parties after consultation with the appropriate federal banking agency. "Today we are taking decisive actions to protect the US economy. We regret having to take these actions. Today's actions are not what we ever wanted to do – but today's actions are what we must do to restore confidence to our financial system." - said Secretary Henry M. Paulson, Jr.
Wells Fargo sees more opportunities in economy
As the rest of banking industry soars and tries to save every penny Wells Fargo & company thinks differently and sees an opportunity to become even larger by shedding the fat and getting more athletic. On October 12th Federal Reserve has approved its application to merge with Wachovia Corporation including all its subsidiaries, and the share exchange agreement previously entered into between Wachovia and Wells Fargo. The approval is an important step forward in the transaction, which still requires the approval of Wachovia shareholders. The merger is on schedule to be completed by the end of this year.
“We’re not heading toward a depression”
"We're not heading toward a depression," the chief economist of the International Monetary Fund, Olivier Blanchard said in an interview for washington post. "We've learned a few things in 80 years." "What we are witnessing is mass selling on a global scale due to a combination of sheer panic and fear, combined with complete uncertainty over the future of the world's major economies," GTF Global Market U.K.'s Head of Derivatives Martin Slaney tells AHN.
