| Diana Clement: Good old-fashioned bank account hard to beat
Most of us think of "cash" as being the folding stuff we keep in our wallets. Cash investments, however, can range from simple savings accounts to highly leveraged cash funds. Cash investments are liquid - or short term - and relatively safe investments. Many, such as simple bank deposits, offer a guarantee that your principal will be returned. Depending on your definition (and they vary) "cash" includes term deposits, cash management accounts and short-term, fixed-income securities (similar to debt securities but much shorter in duration). Closely related are fixed-interest investments for a specified term, says Philip Macalister, publisher of the website depositrates.co.nz. Over the long term, the return from cash investments doesn't keep pace with other investment classes.
19-11-2007: StanChart e$aver advocates flexible banking
KUALA LUMPUR: Standard Chartered Bank Malaysia Bhd has launched an online banking product, the e$aver, which is designed to complement regular savings or checking accounts. The e$aver offers high interest rates of up to 3.5% on savings while providing the flexibility of managing funds online with no lock-in period. Without the need for a minimum amount, it comes with no maintenance fee, no minimum balance fee, no over-counter fee as well as no StanChart ATM withdrawal fee. “With this latest initiative, we expect a total of 40,000 new sign-ups which would further strengthen our targeted 10% growth rate," said Shyam Srinivasan, StanChart Malaysia country head of consumer banking. An early bird bonus interest of 0.25% per annum will added onto the account for customers who sign up before Dec 31, 2007.
Spreading accounts helps out
Welcome to cash management, 2007-style. Forget the quaint notion that you should have your checking account, credit card and savings account all at the same bank. Instead, look to cherry-pick the best of these accounts — with the goal of sidestepping fees, piling up credit-card rewards, earning extra interest and building a great credit score. Sound like a lot of work? It doesn't have to be. -Boosting yield. Start by getting a no-fee, no-interest checking account with little or no required minimum balance, advises Greg McBride, senior financial analyst at Bankrate.com. Many banks now offer such accounts. Not collecting interest might seem like a bum deal. But, in truth, this isn't a big loss. On average, interest-paying checking accounts now require a $3,300 balance to avoid fees — and, even then, you will earn interest averaging just 0.3 percent, according to a recent Bankrate survey.
Capital One Makes Pigs Fly!
McLEAN, Va. (Map) - MCLEAN, Va., Nov. 13 /PRNewswire-FirstCall/ - Capital One Financial Corporation (NYSE: COF) sent pigs into flight today to make a point about its new Rewards Money Market account that earns consumers travel miles for saving money instead of spending it. The commercial jet, a Skybus Airlines Airbus A319 featuring giant flying pigs on the exterior, will travel across the country for the next six months as a larger-than-life reminder that smart saving (putting your pennies in a Capital One Rewards Money Market account instead of a piggy bank) can really take you places. (Photo: http://www.newscom.com/cgi-bin/prnh/20071113/NETU092 ) The Capital One Rewards Money Market account, offering a competitive interest rate currently 4.00 percent Annual Percentage Yield (APY), is the first-ever savings account to offer rewards miles based on account balance.
Safeguard your online assets with good habits
NEW YORK - Do you think using online financial services is just too darn risky? Well, think again. Online banking may actually leave you less vulnerable to fraud than traditional banking, according to Javelin Strategy and Research. The research firm found that customers who made a habit of monitoring account activity online tended to discover suspicious activity more quickly. And early detection spelled savings: victims of cyber crime who tracked their accounts online paid out an average of $551 per incident, whereas those who relied on paper statements paid an average $4,543 per incident, reports MSN Money columnist Liz Pulliam Weston. If you choose to bank online, be aware that you are offering thieves another avenue to your finances. To ensure that you don't fall prey to cyber fraud, be sure to follow these tips from Weston's book, "Easy Money": .
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