12-12-2011 / Free ATMs or ATM Fees?
11-17-2011 / Banks against Check Machine Patent
11-13-2011 / The Check Republic
11-10-2011 / Floating Alone or Floating a Loan?
Banking Connects Blog
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A songwriter in the 60’s proclaimed that “freedom is just another word for nothing left to lose,” and then something along the lines that something which comes with a cost isn’t worth the hassle. Most Americans dislike the idea of paying for something that they at one point received for free, which is relevant in light of some ATM owners beginning to impose a surcharge on non-customers for using their machines. Note the difference between a customer being charged for using a machine not belonging to his bank and being charged as well by the ATM company itself. In such a case the total cost of using an ATM can be almost twice as high.
Proponents of maintaining the status quo of cheaper-to-use ATM machines (excluding the foreign fee, which is the fee charged a customer for using another bank’s machine) explain a well-known fact that banks prefer ATM’s over tellers; operating a machine and providing the service costs a bank approximately 36 cents versus the $1.06 it does to pay a teller, according to Rose Peter, author of Commercial Bank Management. That’s less than a third to operate an ATM. In fact, some banks have instituted a $3 charge for transactions that can be completed at an ATM machine.
Early in 1996, Master Card-owned Cirrus and Visa-owned plus dropped their long-held ban on charging network members for using their ATM’s, explaining their decision in light of competitive pressures from other regional networks that had already done so as well.
And yet a young New York entrepreneur is proposing that advertising can be used to provide customers with free ATM usage. 25 year-old Clinton Townsend has created Free ATMs NYC, which runs advertisements on a 15-inch screen at select ATMs. After performing a transaction, the customer receives a discount coupon for a nearby place of business or restaurant, which grants them free withdrawals.
Townsend’s hope is that the idea will catch on, and he’s already heard from several third party advertisers and the first one has been installed at the Knitting Factory, a bar in the Brooklyn Williamsburg neighborhood.
In the world of corporate entities, where not a lot tends to change from year to year, Limited Liability Companies (LLCs) are hip. I know Ă‚Â– saying a particular form of business is "hip" is kind of like saying a certain legal text is "way cool."...
LLCs are a bit of a hybrid of other forms of business. Like C corporations and S corporations, LLCs can provide you with some protection against personal liability. But for tax purposes, LLCs are treated more like partnerships.
Mobile Banking is becoming a commodity in the U.S and will likely drive mobile banking vendor consolidation. Consolidation and feature parity among the remaining vendors will make it difficult for banks and credit unions to differentiate themselves. Institutions should develop a long-term mobile strategy to account for these changes and plan ways to differentiate from the competition, generate more revenue, and retain customers.
As of mid-August, the pundits are telling us that the recession is over. However, these glad tidings are accompanied by predictions of a long and difficult recovery. Also, the debate continues as to the actual benefit gained by the various stimulus packages thrown at the recession.
Now more than ever we are seeing applicants who have been transferred to the “special assets department’ of their bank.
Please be cautioned, “Special Assets” is NOT “special” in a good way!!!
The first communication will generally sound like “the bank no longer wants your business. Please pay us off a soon as possible.”
Whether it is by foreclosure on a project or some other form of asset recovery, lenders are taking on considerable financial risk. This can be a difficult task in the current environment of reduced staffing and increased regulation. Hearthstone can assist lenders in navigating the risk management concerns created by foreclosure. This paper is designed to outline some of the issues involved in this process.
• The decision maker isn't there
• The prospect isn't being truthful
• They have a problem they really don't want to fix
• They aren't going to undo a current relationship
• They don't have the money or resources to invest to fix a problem
Tugboats, Glaucoma and the Check Collection Process
Loans options for owners of small multifamily properties
CHARLOTTE, NC – October 20, 2009 – Rockall Technologies announced today that Minneapolis-based U.S. Bank (NYSE: USB) has selected its Systematic Tracking of Collateral (STOC) solution. STOC will be used for enterprise-wide monitoring and evaluation of marketable securities that collateralize credit facilities and commitments made by several business lines within U.S. Bank, including The Private Client Reserve in the Wealth Management Group, National Corporate Banking Broker Dealer division, and The Private Client Group.
Banks need introspection while economy recoups
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