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Gone are the days when offshore bank accounts were considered to be illegal shelters for money launderers and tax evaders, today most people understand that an offshore account has more to do with the international management of money. However, why would anyone choose to have or use an offshore bank account?
In this report we're going to cover all the main uses for such an international and flexible account structure, highlighting the benefits and advantages of banking in such a way for many individuals - particularly those who live, work, travel or who are planning on retiring abroad.
As stated, an offshore bank account is not an illegal offering - it is a form of account structure now offered by all the leading national and international banks and finance houses. In its simplest form, an offshore account is the mirror of your plain current account that you use every day, however it is located in a nation other than the one in which you are resident!
Those who live overseas in a nation where the economic or political environment is less than stable and secure often made use of offshore accounts in the past as such an account enabled them to hold their money outside of a less than secure nation. No matter what went down in their country - inflation, devaluation of the local currency, a coup - their money was housed in a secure currency in a secure account in a secure country.
This benefit still stands for those who are working or residing in a less than stable nation for example. And this benefit can be added to for those who work in more than one country - or who regularly travel with their job too. Anyone who needs flexibility on an international scale can potentially benefit from an offshore bank account. For example, if you're paid in one currency, have financial obligations 'back home' in your old nation in a different currency and the transactions you make on a day-to-day basis abroad are in yet another currency, a multi currency offshore account could save you on exchange costs and transfer fees for example.
Those who are living overseas and who prefer to keep their financial business to themselves may select the privacy offered by an offshore bank account - others who are under no obligation whatsoever to bring their money onshore may choose to house their money offshore where they can keep it private and hidden. Finally, another widely experienced advantage is that offshore accounts often come with a whole host of bells and whistles that make your life easier. You may be given a relationship manager at the bank who can help you look after your money in the most fiscally beneficial way. Alternatively you may be offered freebies such as international airport lounge access perhaps. Additionally, you will be able to link your offshore bank account to an offshore savings account on which you may be able to earn a preferential rate of interest.
So, as you can no doubt see, if you're an international citizen, if you require flexibility, privacy and a better deal on your bank account, you may be better off with an offshore bank account. It's time you looked into your options and alternatives today to determine whether an offshore bank account could be the right choice.
Rhiannon Davies writes about the management of money for those living, working and traveling abroad and for more information and advice about offshore bank accounts or ways in which you can potentially enhance your wealth offshore, visit ShelterOffshore.com
Article Source: http://EzineArticles.com/?expert=Rhiannon_Davies
2009/12/19
2009/12/18
Privacy Policy
Privacy Policy
Open a bank account takes your privacy seriously. This privacy policy describes what personal information we collect and how we use it. See this privacy policy primer to learn more about privacy policies in general.
Routine Information Collection
All web servers track basic information about their visitors. This information includes, but is not limited to, IP addresses, browser details, timestamps and referring pages. None of this information can personally identify specific visitors to this site. The information is tracked for routine administration and maintenance purposes.
Cookies and Web Beacons
Where necessary, "open a bank account online" uses cookies to store information about a visitor's preferences and history in order to better serve the visitor and/or present the visitor with customized content.
Advertising partners and other third parties may also use cookies, scripts and/or web beacons to track visitors to our site in order to display advertisements and other useful information. Such tracking is done directly by the third parties through their own servers and is subject to their own privacy policies.
Controlling Your Privacy
Note that you can change your browser settings to disable cookies if you have privacy concerns. Disabling cookies for all sites is not recommended as it may interfere with your use of some sites. The best option is to disable or enable cookies on a per-site basis. Consult your browser documentation for instructions on how to block cookies and other tracking mechanisms. This list of web browser privacy management links may also be useful.
Contact Information
Concerns or questions about this privacy policy can be directed to searchtags@gmail.com for further clarification.
Open a bank account takes your privacy seriously. This privacy policy describes what personal information we collect and how we use it. See this privacy policy primer to learn more about privacy policies in general.
Routine Information Collection
All web servers track basic information about their visitors. This information includes, but is not limited to, IP addresses, browser details, timestamps and referring pages. None of this information can personally identify specific visitors to this site. The information is tracked for routine administration and maintenance purposes.
Cookies and Web Beacons
Where necessary, "open a bank account online" uses cookies to store information about a visitor's preferences and history in order to better serve the visitor and/or present the visitor with customized content.
Advertising partners and other third parties may also use cookies, scripts and/or web beacons to track visitors to our site in order to display advertisements and other useful information. Such tracking is done directly by the third parties through their own servers and is subject to their own privacy policies.
Controlling Your Privacy
Note that you can change your browser settings to disable cookies if you have privacy concerns. Disabling cookies for all sites is not recommended as it may interfere with your use of some sites. The best option is to disable or enable cookies on a per-site basis. Consult your browser documentation for instructions on how to block cookies and other tracking mechanisms. This list of web browser privacy management links may also be useful.
Contact Information
Concerns or questions about this privacy policy can be directed to searchtags@gmail.com for further clarification.
About us
About
Open a bank account is a blog about the best rates and the best services for credit cards.
This website will try and provide helpful advice, information about products to help in the process, etc.
You can contact us at:
searchtags@gmail.com
Or by regular mail at:
Frank Rosen
Aldestrasse 19
8001 Zurich
Open a bank account is a blog about the best rates and the best services for credit cards.
This website will try and provide helpful advice, information about products to help in the process, etc.
You can contact us at:
searchtags@gmail.com
Or by regular mail at:
Frank Rosen
Aldestrasse 19
8001 Zurich
2009/12/17
how to open bank account
If you want to get a bank account when you have bad credit history, you are going to run into a few stumbling blocks. First, if you have bad credit, you won't be able to open a bank account. Anywhere. Second, if you don't have a bank account, you can kiss any opportunities of ever getting any credit - pretty much all lenders will want proof that you have a bank account.
Now If you can't open a bank account, you should understand a bit about what's causing the problem. It's called ChexSystems.
What is the Chex System
Chex System is an bank network designed to prevent people who have a history of bank fraud from starting new accounts. The way banks keep tabs on this is that if you do something suspicious (bouncing checks, closing down a lot of accounts, etc), you get entered into a global network that all banks have access to.
How Long Will I Stay in Chex System
You will stay in the system for roughly 5 years.
What to Do if I Get Entered Into the Chex System
This is the big question. If you find yourself in Chex System, you wont' be able to get a normal bank account. This can, clearly, cause you some financial difficultly. These days, not having access to a banking account is the equivalent of losing an arm and leg. To address the growing number of people who have been blacklisted from banks because of credit issues, some lenders have put together special online accounts that offer banking services to people who are unable to open any other banking account. These are called second chance accounts.
If you have bad banking credit, you are going to have to open one of these second chance accounts. Now here's the thing - second chance accounts are expensive accounts. You will pay much more in fees than you would for any other bank account. That's part of the price you are going to have to pay to have second chance account. You are going to have to decide whether it's worth it or not. For many people, it is indeed worth it. Your really won't have any other choice.
To get a second chance bad credit account, you will have to start your search online. There are many internet banks now offering this type of account, so with a bit of looking around, you would have too many problems finding the account.
Getting a checking account when you have bad credit is important because without an account at a bank, your options are quite limited in the financial world. A second chance bank can give you the opportunity to have a second chance.
Learn how to bad credit bank account without having to worry about getting rejected.
Article Source: http://EzineArticles.com/?expert=David_Woo
Now If you can't open a bank account, you should understand a bit about what's causing the problem. It's called ChexSystems.
What is the Chex System
Chex System is an bank network designed to prevent people who have a history of bank fraud from starting new accounts. The way banks keep tabs on this is that if you do something suspicious (bouncing checks, closing down a lot of accounts, etc), you get entered into a global network that all banks have access to.
How Long Will I Stay in Chex System
You will stay in the system for roughly 5 years.
What to Do if I Get Entered Into the Chex System
This is the big question. If you find yourself in Chex System, you wont' be able to get a normal bank account. This can, clearly, cause you some financial difficultly. These days, not having access to a banking account is the equivalent of losing an arm and leg. To address the growing number of people who have been blacklisted from banks because of credit issues, some lenders have put together special online accounts that offer banking services to people who are unable to open any other banking account. These are called second chance accounts.
If you have bad banking credit, you are going to have to open one of these second chance accounts. Now here's the thing - second chance accounts are expensive accounts. You will pay much more in fees than you would for any other bank account. That's part of the price you are going to have to pay to have second chance account. You are going to have to decide whether it's worth it or not. For many people, it is indeed worth it. Your really won't have any other choice.
To get a second chance bad credit account, you will have to start your search online. There are many internet banks now offering this type of account, so with a bit of looking around, you would have too many problems finding the account.
Getting a checking account when you have bad credit is important because without an account at a bank, your options are quite limited in the financial world. A second chance bank can give you the opportunity to have a second chance.
Learn how to bad credit bank account without having to worry about getting rejected.
Article Source: http://EzineArticles.com/?expert=David_Woo
open international bank account
"International bank rankings" are important because it's critical to have a reliable financial company when you are traveling.
What's the best IB financial institution? Here is a review of one of the top ones on the planet...
HSBC
This is famous for being one of the top "global" banks. They have many locations around the world... and they derive their income almost equally from North America, Asia and Europe.
They have locations in 86 different nations to be exact--they are probably the BIGGEST international bank. But they are most prominent online-they don't have a lot of physical locations in any part of the world.
Positives
#1) Around-the-clock money management
You can manage your account no matter what time zone you are in. You can also transfer money from country to country and currency to currency without hassle-very important or travelers.
#2) HIGH interest rate
No matter what currency you are in, the interest rate is applied BEFORE tax--always something to look for "international bank ratings".
Also, since they have very few physical locations they have a low overhead... which is why they consistently have one of the highest interest rates around.
#3) $1 accounts
It costs just a buck to open an account and NOTHING thereafter. This is hard to beat.
Negatives
#1) Customer service
Let's just say they don't have the friendliest employees-but assuming you plan on doing most of your money-management online, this shouldn't be an issue. Just avoid the phone as much as possible.
#2) Lack of branches
This works out for your advantage in terms of interest rates... but if you ever need to get some cash out it's quite a hassle.
The bottom line--HSBC is one of the best international banks around. For more bank ratings check out http://www.onlinebankratings.com.
Article Source: http://EzineArticles.com/?expert=George_Frederick
What's the best IB financial institution? Here is a review of one of the top ones on the planet...
HSBC
This is famous for being one of the top "global" banks. They have many locations around the world... and they derive their income almost equally from North America, Asia and Europe.
They have locations in 86 different nations to be exact--they are probably the BIGGEST international bank. But they are most prominent online-they don't have a lot of physical locations in any part of the world.
Positives
#1) Around-the-clock money management
You can manage your account no matter what time zone you are in. You can also transfer money from country to country and currency to currency without hassle-very important or travelers.
#2) HIGH interest rate
No matter what currency you are in, the interest rate is applied BEFORE tax--always something to look for "international bank ratings".
Also, since they have very few physical locations they have a low overhead... which is why they consistently have one of the highest interest rates around.
#3) $1 accounts
It costs just a buck to open an account and NOTHING thereafter. This is hard to beat.
Negatives
#1) Customer service
Let's just say they don't have the friendliest employees-but assuming you plan on doing most of your money-management online, this shouldn't be an issue. Just avoid the phone as much as possible.
#2) Lack of branches
This works out for your advantage in terms of interest rates... but if you ever need to get some cash out it's quite a hassle.
The bottom line--HSBC is one of the best international banks around. For more bank ratings check out http://www.onlinebankratings.com.
Article Source: http://EzineArticles.com/?expert=George_Frederick
open bank account in uk
Different countries have different policies regarding allowing a foreigner to open a bank account. UK is not an exception. Before a person decides to move to UK and open a bank account, he needs to be aware about the laws of the country.
To open a bank account in UK a foreigner needs to arrive in person. A person who wants to open an account in a bank of UK needs to decide certain things first of all. It is ideal to select a bank that is suitable for the needs of a person. If a bank offers incentives for opening an account, that should be chosen. A number of banks offer free gifts to the new customers.
If someone has come to UK for educational purposes he needs to see if a bank offers these incentives for the international students. The facilities like cheque book, cash card are always welcome for a person who is new to the country. One needs to consider the interest rate offered by the bank as well. If a bank offers telephone banking it would be advisable to opt for its service.
The majority of the banks in UK offer two types of accounts- a deposit account and a current account. The current accounts are best suited for those people who avail the account regularly for small amounts of cash for buying clothes and food. A lot of banks offer the current accounts. While the Deposit accounts have a higher rate of interest an account holder requires giving two weeks notice for withdrawal of money.
These accounts are better suited for bigger amounts of cash and the students requiring tuition fees and accommodation are likely to be benefited from this account. There are certain documents that are required by the banks of UK for opening an account. A foreign resident needs a passport first of all. The Offer letter given by the university or the organisation where you have taken up a job is another prerequisite for opening a bank account.
A student also needs to give the address of his residence in his native country. Besides, an official document bearing his residence address such as identity card, driving licence is required. In some cases it is possible to open an account in UK from another nation. But in that case the amount of the primary deposit needs to be higher.
Mike Novik provides how-to advice on small business and home-based work issues. He helps small businesses reach their fullest potential. His recommendation for to-day is to visit UK bank account
Article Source: http://EzineArticles.com/?expert=Michael_Novik
To open a bank account in UK a foreigner needs to arrive in person. A person who wants to open an account in a bank of UK needs to decide certain things first of all. It is ideal to select a bank that is suitable for the needs of a person. If a bank offers incentives for opening an account, that should be chosen. A number of banks offer free gifts to the new customers.
If someone has come to UK for educational purposes he needs to see if a bank offers these incentives for the international students. The facilities like cheque book, cash card are always welcome for a person who is new to the country. One needs to consider the interest rate offered by the bank as well. If a bank offers telephone banking it would be advisable to opt for its service.
The majority of the banks in UK offer two types of accounts- a deposit account and a current account. The current accounts are best suited for those people who avail the account regularly for small amounts of cash for buying clothes and food. A lot of banks offer the current accounts. While the Deposit accounts have a higher rate of interest an account holder requires giving two weeks notice for withdrawal of money.
These accounts are better suited for bigger amounts of cash and the students requiring tuition fees and accommodation are likely to be benefited from this account. There are certain documents that are required by the banks of UK for opening an account. A foreign resident needs a passport first of all. The Offer letter given by the university or the organisation where you have taken up a job is another prerequisite for opening a bank account.
A student also needs to give the address of his residence in his native country. Besides, an official document bearing his residence address such as identity card, driving licence is required. In some cases it is possible to open an account in UK from another nation. But in that case the amount of the primary deposit needs to be higher.
Mike Novik provides how-to advice on small business and home-based work issues. He helps small businesses reach their fullest potential. His recommendation for to-day is to visit UK bank account
Article Source: http://EzineArticles.com/?expert=Michael_Novik
to open bank account
One of the most important parts of re-locating anywhere is having a bank account, somewhere you are able to deposit, send and withdraw money from.
In the Dominican Republic there are numerous banking institutions, all of which are backed by the central bank, which means that your money will always be safe.
In the Dominican Republic you can open an account in the local currency, Dominican Peso (RD$), American Dollars (US$) or Euros (€).
These are the names of some of the banks in the Dominican Republic.
Banco Popular
Banco De Reservas
Banco Leon
Banco Del Progresso
Banco Santa Cruz
Banco BHD
Scotiabank
Citibank
To open an account in any of the above institutions you will be required to provide a reference letter from a bank where you have an existing account, a personal/commercial reference, a copy of your passport and currency - the usual minimum amounts for opening an account are US$200, €200 and RD$5,000.
There are also some banks which now offer online banking services, which means you don't have to wait in line to be served, yay!
For more information on opening a bank account in the DR talk to Tay, he will be able to assist you with bank accounts, certificates, credit cards and other bank related matters in the Dominican Republic. Considered a safe banking system, the DR banks are all backed by the central bank, where you can obtain high interest rates for your pesos. When considering a life changing move, think about the DR, still the cheapest in the Caribbean yet still one of the least discovered places to visit.
For more information visit http://www.propertycenter.tv
Article Source: http://EzineArticles.com/?expert=Taylan_O
In the Dominican Republic there are numerous banking institutions, all of which are backed by the central bank, which means that your money will always be safe.
In the Dominican Republic you can open an account in the local currency, Dominican Peso (RD$), American Dollars (US$) or Euros (€).
These are the names of some of the banks in the Dominican Republic.
Banco Popular
Banco De Reservas
Banco Leon
Banco Del Progresso
Banco Santa Cruz
Banco BHD
Scotiabank
Citibank
To open an account in any of the above institutions you will be required to provide a reference letter from a bank where you have an existing account, a personal/commercial reference, a copy of your passport and currency - the usual minimum amounts for opening an account are US$200, €200 and RD$5,000.
There are also some banks which now offer online banking services, which means you don't have to wait in line to be served, yay!
For more information on opening a bank account in the DR talk to Tay, he will be able to assist you with bank accounts, certificates, credit cards and other bank related matters in the Dominican Republic. Considered a safe banking system, the DR banks are all backed by the central bank, where you can obtain high interest rates for your pesos. When considering a life changing move, think about the DR, still the cheapest in the Caribbean yet still one of the least discovered places to visit.
For more information visit http://www.propertycenter.tv
Article Source: http://EzineArticles.com/?expert=Taylan_O
open offshore bank account
We frequently hear about offshore bank accounts in the news or in the movies because those trying to hide money for criminal reasons usually utilize these accounts so that they are not caught up in their shenanigans. However, that is not all an offshore bank account is about. In fact, having an offshore bank account means saving tax dollars and some may have other reasons behind it. Just because someone has a bank account outside of the country doesn't mean they are a robber or a member of the mob.
Nevertheless, there are some legal implications and some things that must be kept in mind. One of those things is the fact that it is not legal for a United States citizen to open an offshore bank account. Sure, you may be protecting your money from creditors or from high taxes, but you could get yourself into trouble. This is how some become convicted of tax evasion, but it is very possible that the long arm of the law will not reach your offshore account.
Another risk is the fact that your money doesn't have the protection of the government. Your money is subject to the laws of the country that it is in. This means that a coup or some accounting scheme could occur that would cause you to lose all of your money. That is when you must ask yourself which country you want to open your offshore account in. Should you choose Switzerland, Bermuda, the Bahamas, or the Caymans? This can certainly be a difficult decision.
Best countries
First of all, you don't have to be wealthy to have an offshore bank account. Second of all, you do not have to be present to open it and you do not have to visit the bank at any time during the life of the account. For example:
- If you open an account in Switzerland, you can do it via e-mail or in person if you are in the country. Swiss bank accounts are quite secret and that is why so many choose them. They operate much like American banks and keep certain private matters such as divorce private. Switzerland does not change their laws under American pressure like some other countries do.
- Opening an offshore account in Bermuda doesn't require you to be present at the bank. The account can actually be opened by mail, along with proof of identity. Many of their banks are known for serving clients all over the world and this has made offshore banking in Bermuda quite popular.
- The Bahamas are also known for their secrecy due to their privacy laws. This makes offshore banking in the Bahamas a huge business. They are also compliant with international laws with attractive incentives for their bankers.
- The Caymans are also one of the best because of the similarity to a U.S. bank account. Then there is the possibility of keeping your identity a secret. The Caymans do not encourage tax evasion, but they do not report deposits in the accounts or interest gained from those deposits.
Being safe
Offshore banks do not report your income to the IRS like U.S. banks do, so they use an honor system. This means that it is up to you to report your income, but changing laws and other factors can cause issues if you do not comply with the laws of your own country. However, offshore accounts keep matters private and keep others from learning of your affairs. That is why such accounts are so popular amongst people all over the world.
World's largest and most established independent investment firm that operates solely in tax-favourable jurisdictions including Bermuda, Grand Cayman, the Bahamas and London, UK. Offers offshore financial services such as offshore account openings. Wondering if you can apply for a QROPS, its seasoned market professionals will be glad to answer any questions related to offshore investments.
Article Source: http://EzineArticles.com/?expert=Amy_Nutt
Nevertheless, there are some legal implications and some things that must be kept in mind. One of those things is the fact that it is not legal for a United States citizen to open an offshore bank account. Sure, you may be protecting your money from creditors or from high taxes, but you could get yourself into trouble. This is how some become convicted of tax evasion, but it is very possible that the long arm of the law will not reach your offshore account.
Another risk is the fact that your money doesn't have the protection of the government. Your money is subject to the laws of the country that it is in. This means that a coup or some accounting scheme could occur that would cause you to lose all of your money. That is when you must ask yourself which country you want to open your offshore account in. Should you choose Switzerland, Bermuda, the Bahamas, or the Caymans? This can certainly be a difficult decision.
Best countries
First of all, you don't have to be wealthy to have an offshore bank account. Second of all, you do not have to be present to open it and you do not have to visit the bank at any time during the life of the account. For example:
- If you open an account in Switzerland, you can do it via e-mail or in person if you are in the country. Swiss bank accounts are quite secret and that is why so many choose them. They operate much like American banks and keep certain private matters such as divorce private. Switzerland does not change their laws under American pressure like some other countries do.
- Opening an offshore account in Bermuda doesn't require you to be present at the bank. The account can actually be opened by mail, along with proof of identity. Many of their banks are known for serving clients all over the world and this has made offshore banking in Bermuda quite popular.
- The Bahamas are also known for their secrecy due to their privacy laws. This makes offshore banking in the Bahamas a huge business. They are also compliant with international laws with attractive incentives for their bankers.
- The Caymans are also one of the best because of the similarity to a U.S. bank account. Then there is the possibility of keeping your identity a secret. The Caymans do not encourage tax evasion, but they do not report deposits in the accounts or interest gained from those deposits.
Being safe
Offshore banks do not report your income to the IRS like U.S. banks do, so they use an honor system. This means that it is up to you to report your income, but changing laws and other factors can cause issues if you do not comply with the laws of your own country. However, offshore accounts keep matters private and keep others from learning of your affairs. That is why such accounts are so popular amongst people all over the world.
World's largest and most established independent investment firm that operates solely in tax-favourable jurisdictions including Bermuda, Grand Cayman, the Bahamas and London, UK. Offers offshore financial services such as offshore account openings. Wondering if you can apply for a QROPS, its seasoned market professionals will be glad to answer any questions related to offshore investments.
Article Source: http://EzineArticles.com/?expert=Amy_Nutt
open hong kong bank account
Hong Kong (HK) is popular for investments and offshore company incorporation, having achieved first place in the "Index of Economic Freedom" fifteen years in a row (until 2009). The index takes into account factors such as business freedom, investment freedom, property rights and freedom from corruption. With one of the lowest corporate tax rates in the world (16.5%) and zero tax on foreign sourced income, HK is also an ideal jurisdiction for tax-efficient business, without being perceived as an international tax haven. Setting up a company in HK can take as little as 4 working days and with the aid of a professional services firm is relatively simple. The procedure is as follows:
- The corporate services firm collects the required due diligence and confirms the required services
- Legal, accounting and tax implications of company incorporation are settled with the professional services firm
- Company name availability is reviewed
- Professional services firm, and the client, discuss and agree optimum required corporate structure for new entity
* This includes the number of shareholders and directors
- Incorporation documents are delivered for signing and returned to corporate service firm for processing
- Service professional handles the business incorporation with the relevant government bodies
- Business incorporation in HK is complete
After forming a company in HK, new entities often face other important requirements in new business set up. These can include opening a corporate bank account, obtaining corporate and trade finance as well as merchant accounts, and identifying a local office space or virtual office.
World-class multi-currency accounts and internet banking facilities are readily available in HK. Entrepreneurs can choose amongst leading international banks that operate in HK, to open their corporate bank account for their new Hong Kong business, and will enjoy having no foreign exchange controls or restrictions on inward and outward investments -a selling point for operating international business from a HK office.
Marketing components such as the company website, search engine advertising and the company logo are other factors that play a major role in the success of a newly set up company.
Setting up a company in HK can ultimately be seen as a profitable, long-term investment for any business given the noted tax benefits, ease of incorporation and HK's position as a reputable, secure and effective jurisdiction. Furthermore, HK provides a gateway to China, the 3rd largest economy in the world.
Minimum requirements to set up business in Hong Kong:
- One shareholder
- One director, any nationality/residence
- Company secretary, either HK resident or HK company
- A registered HK office address
- Auditors, from firm of HK accountants
- Business Registration Certificate
- One person can act as director, shareholder and secretary, except if sole director, he/she cannot act as secretary
- No minimum share capital requirements
For further information refer to the Hong Kong Companies Registry.
Healy Consultants is a leading corporate services firm providing international entrepreneurs with all Hong Kong company formation requirements. The firm provides a range of services for Asia business set up, tax planning and offshore investing. More information on company incorporation can be found by visiting http://www.healyconsultants.com.
Article Source: http://EzineArticles.com/?expert=Melissa_Glotzer
- The corporate services firm collects the required due diligence and confirms the required services
- Legal, accounting and tax implications of company incorporation are settled with the professional services firm
- Company name availability is reviewed
- Professional services firm, and the client, discuss and agree optimum required corporate structure for new entity
* This includes the number of shareholders and directors
- Incorporation documents are delivered for signing and returned to corporate service firm for processing
- Service professional handles the business incorporation with the relevant government bodies
- Business incorporation in HK is complete
After forming a company in HK, new entities often face other important requirements in new business set up. These can include opening a corporate bank account, obtaining corporate and trade finance as well as merchant accounts, and identifying a local office space or virtual office.
World-class multi-currency accounts and internet banking facilities are readily available in HK. Entrepreneurs can choose amongst leading international banks that operate in HK, to open their corporate bank account for their new Hong Kong business, and will enjoy having no foreign exchange controls or restrictions on inward and outward investments -a selling point for operating international business from a HK office.
Marketing components such as the company website, search engine advertising and the company logo are other factors that play a major role in the success of a newly set up company.
Setting up a company in HK can ultimately be seen as a profitable, long-term investment for any business given the noted tax benefits, ease of incorporation and HK's position as a reputable, secure and effective jurisdiction. Furthermore, HK provides a gateway to China, the 3rd largest economy in the world.
Minimum requirements to set up business in Hong Kong:
- One shareholder
- One director, any nationality/residence
- Company secretary, either HK resident or HK company
- A registered HK office address
- Auditors, from firm of HK accountants
- Business Registration Certificate
- One person can act as director, shareholder and secretary, except if sole director, he/she cannot act as secretary
- No minimum share capital requirements
For further information refer to the Hong Kong Companies Registry.
Healy Consultants is a leading corporate services firm providing international entrepreneurs with all Hong Kong company formation requirements. The firm provides a range of services for Asia business set up, tax planning and offshore investing. More information on company incorporation can be found by visiting http://www.healyconsultants.com.
Article Source: http://EzineArticles.com/?expert=Melissa_Glotzer
opening bank account
In the old days, opening a bank account used to be a piece of cake. Back then, you could walk into the bank, fill out an application, and maybe make a small deposit to get things started. That was it: story over, case closed.
Nowadays, when you apply for a new checking account, about 80% of banks refer to something called Chex Systems to verify that you meet a certain minimum standard of eligibility for being perceived as a worthy customer.
Chex Systems works a bit like a FICO or credit score system, except there is no actual score displayed to your bank. Rather, you simply appear on Chex Systems or you do not. Furthermore, if you appear on Chex Systems, there is little explanation given to the bank as to the reason you appear there (which can include anything from minor infractions to outright bank fraud). In other words, the system gives the bank very little leeway in terms of making an informed decision about your eligibility; you are either "good" or "bad" in terms of your customer-worthiness.
In response to this sometimes useful but rather inefficient Chex Systems process, many banks have begun sprouting up that do not use Chex Systems at all to evaluate new customers. Some of these banks use this fact as a selling point to attract prospective customers who may have had trouble getting approved by traditional banks. These banks taut their offerings simply as second chance checking accounts.
If your checking account application has been recently rejected by a bank, you may want to open a second chance checking account online. Here are the 3 steps you need to take to do so:
1. Find a second chance checking bank:
You can find a second chance checking bank by making a search on the Internet. Also, try checking with friends and colleagues who may have gone through a similar situation and have found a second chance checking bank they like. Here is a reputable online bank that offers second chance checking: http://www.escape-overdraft-fees.com/.
2. Go through the application process:
The application process can be conducted online and usually takes about 10 to 30 minutes. You need to start by providing basic information like name and address. Then, you set about confirming your identity by answering some miscellaneous questions posed to you about past payment history, residential addresses, and the like. (This step is taken by the bank purely for security purposes - to make sure nobody tries to falsely sign up for an account under your name!).
3. Fund your account:
Finally, you fund your new account with a small deposit. Funding your account can happen at the time of application or at a later date.
Online second chances online banking offers people who could not otherwise be approved for a checking account a viable alternative for getting the checking account they need in order to conduct their personal financial lives.
For more information about online second chance checking and how it works, check out: http://www.squidoo.com/open-second-chance-checking-account-online/.
Article Source: http://EzineArticles.com/?expert=Robbie_T._James
Nowadays, when you apply for a new checking account, about 80% of banks refer to something called Chex Systems to verify that you meet a certain minimum standard of eligibility for being perceived as a worthy customer.
Chex Systems works a bit like a FICO or credit score system, except there is no actual score displayed to your bank. Rather, you simply appear on Chex Systems or you do not. Furthermore, if you appear on Chex Systems, there is little explanation given to the bank as to the reason you appear there (which can include anything from minor infractions to outright bank fraud). In other words, the system gives the bank very little leeway in terms of making an informed decision about your eligibility; you are either "good" or "bad" in terms of your customer-worthiness.
In response to this sometimes useful but rather inefficient Chex Systems process, many banks have begun sprouting up that do not use Chex Systems at all to evaluate new customers. Some of these banks use this fact as a selling point to attract prospective customers who may have had trouble getting approved by traditional banks. These banks taut their offerings simply as second chance checking accounts.
If your checking account application has been recently rejected by a bank, you may want to open a second chance checking account online. Here are the 3 steps you need to take to do so:
1. Find a second chance checking bank:
You can find a second chance checking bank by making a search on the Internet. Also, try checking with friends and colleagues who may have gone through a similar situation and have found a second chance checking bank they like. Here is a reputable online bank that offers second chance checking: http://www.escape-overdraft-fees.com/.
2. Go through the application process:
The application process can be conducted online and usually takes about 10 to 30 minutes. You need to start by providing basic information like name and address. Then, you set about confirming your identity by answering some miscellaneous questions posed to you about past payment history, residential addresses, and the like. (This step is taken by the bank purely for security purposes - to make sure nobody tries to falsely sign up for an account under your name!).
3. Fund your account:
Finally, you fund your new account with a small deposit. Funding your account can happen at the time of application or at a later date.
Online second chances online banking offers people who could not otherwise be approved for a checking account a viable alternative for getting the checking account they need in order to conduct their personal financial lives.
For more information about online second chance checking and how it works, check out: http://www.squidoo.com/open-second-chance-checking-account-online/.
Article Source: http://EzineArticles.com/?expert=Robbie_T._James
open euro bank account
There are certain things you should know before opening an offshore bank account - things that can save you a lot of time and frustration. The following 7 facts about offshore banking offer a useful insight and a good starting point to the process.
1. The Most Important Benefits of an Offshore Account
WG Hill, the author of the underground classic PT (The Perpetual Tourist), was quoted as saying: "Get your money out of country, before your country gets the money out of you!" And this strikes at the core of what offshore banking is about. Give you one example. Let's say you owe a tax bill which you are contesting. Now, in most of the modern Western democracies, it's a simple matter for the government to seize the funds from your domestic account. One day you have $10,000 in there - and the next day you don't. And such nations also get the banks to do their tax collecting for them. This is done by the practice of automatically deducting a withholding of tax on any interest earned. In this way your domestic banks are tax agents and put the government's interests above your own - the client.
Opening an offshore bank account puts your funds out of harm's way. If you had $10,000 in an offshore account, your own government could not siphon it off automatically. And if you are banking in a place where there is no tax charged on interest, then your funds are growing quicker - without any withholding taxes being applied at source. An offshore bank account also gives you more financial privacy - something in great demand in this increasingly regulated world. Then there's the flexibility that comes with having more than one bank account - in more than one country. This strategy allows you to hedge your bets and keep your cash in dispersed locations.
2. Choose Your Jurisdiction Wisely
Not all jurisdictions (countries) are equal. Every bank is governed by the laws of the country it is licensed to operate in. It is also governed by a plethora of internationally-applicable financial oversight regulations. While some typical offshore tax havens appear ideal as banking jurisdictions, the truth is that often they aren't - precisely because they have been, or are being, targeted in some way by anti-money laundering laws or other financial restrictions on how they conduct business. You don't want to end up in the middle of such a financial conflict.
Another factor to take into consideration is the geographical area in which the bank operates and the existence of any information sharing treaties or tax-collecting agreements between the countries in that area. Where you currently live in the world impacts on where you can bank offshore. For remember, offshore simply means somewhere other than where you currently reside.
3. The Truth About Privacy and Anonymity
Swiss banking has always been held up as the pinnacle of banking privacy, and that largely holds true - even though they are under increasing pressure to comply with international norms. The Swiss, however, have a vested interest in maintaining their USP (unique selling proposition), that they provide the most secure and private banking in the world. But privacy in an offshore bank is conditional. Most offshore banks will be covered by privacy protection measures, which could include such things as it being a criminal offence for a bank employee to disclose the details of any client's financial affairs. However, these laws can usually be breached by the presentation of a court order issued on the basis of suspected criminal activity.
This is all well and good for those of us who are not criminals, and usually means our privacy is pretty well assured. The trouble is in the definition of the word "crime". It's well known that certain banking jurisdictions have now succumbed to pressure to include tax avoidance as a criminal offense - meaning your account information could be disclosed under such an assertion if part of a court order from another country. So you may as well accept the fact that truly bullet-proof private banking is hard to come by - and anonymous banking is a thing of the past.
4. The Impact of KYC and FATF
Offshore banking has become a lot more restrictive since 9/11 - as the US enforces stringent regulations aimed at combating what it terms money laundering. This catchall approach means that straight-up, honest people find themselves having to jump through hoops just to get started. Unfortunately, there seems to be no end in sight to this process - so all you can do is bite the bullet and proceed.
When you first apply to open an offshore bank account you will immediately feel the impact of KYC (know your customer) regulations. Banks have a way of making this requirement sound as if its in your best interest, but that's just them trying to sweeten a bitter pill. In effect, the bank will want to know a lot more about you than they would have a few years back. They will want not only to sight your valid ID, proof of address and business, banking or personal references, but they will also want to know what you do and what type of account activity to expect.
5. What You Need to Open an Offshore Account
Opening an offshore bank account needn't be traumatic - if you know what to expect and what you're in for. You need to carefully consider your banking requirements. Do you want a personal or corporate account? In most cases a personal account is sufficient - and is usually easier to open. Some offshore banks will only open corporate accounts in person - not on the internet or by mail.
Of course you'll need to have valid passport, and will have to get it notarized by a Notary Public (which you'll usually find in large legal firms). This process involves making an appointment with the Notary and having him sight your passport, then make a copy and add his Notary seal and signature, stating he personally viewed your passport. You will also need one or two utility bills as proof of residence.
The good news is, once you have gone through the mill and opened your account, you'll find the bank (like any company wanting to make a profit) will want to retain your business and keep you happy! A good banking relationship is like gold - so hang on to it.
6. The Facts About Offshore Credit Cards
Most offshore banks will readily offer you a debit card - you know, a plain ATM card like you have from your domestic bank. These are usually Cirrus and Maestro branded, although in EURO countries Visa Electron is quite popular. Now while these cards are very useful, the main function (when issued by an offshore bank) is to withdraw cash from ATM machines.
This is where the desire and need for a full-blown credit card comes in. However, due to rules laid down by Visa and MasterCard International - such cards are usually only available to residents in the country the bank operates from. So, for example, if you have a bank account in an offshore jurisdiction, their Visa card may only be available to local residents - not you.
A good alternative is a Visa or MasterCard debit card - which is directly linked to your offshore bank account. When you spend money using it, the funds are immediately withdrawn from your current account. You can't get credit with this card, but you do get full Visa and MasterCard functionality when traveling internationally - like hotel check-ins, airline bookings etc. These types of cards are not readily available offshore, but a few major offshore banks issue them to their international clients.
7. The Advantages of Accounts in Various Currencies
One of the benefits of banking offshore is the ready availability of multi-currency accounts - where you can open more than one account at the same bank, each denominated in a different currency. Now, why would you want to do that? The answer is simple - for hedging. In this volatile world currencies are always changing value. And as I write this, the USD is deemed to be heading downwards in value over time.
Most offshore banks that provide multiple currency accounts will allow you to move funds quite easily between them, as and when you see fit. So if you have a substantial amount of cash on deposit, then spreading your cash risk by holding different currencies is a sound financial decision - one made a lot easier by having an offshore bank account.
Conclusion
Opening an offshore bank account could be the best thing you ever do. However, many people find the process daunting - not least because they need to overcome the irrational fear that somehow their money won't be as safe as banking at home. Of course the truth turns out to be the opposite. If you bank with a reputable offshore bank, then your money is much safer than before!
David MacGregor has been active in the offshore world since 1998 and lives the Internationalist lifestyle he writes and advises about. He operates a private information service for those seeking more personal and financial freedom, and offers a free introductory e-book entitled 'The FreedomShift', which is available from: http://www.sovereignlife.com
Article Source: http://EzineArticles.com/?expert=David_I_MacGregor
1. The Most Important Benefits of an Offshore Account
WG Hill, the author of the underground classic PT (The Perpetual Tourist), was quoted as saying: "Get your money out of country, before your country gets the money out of you!" And this strikes at the core of what offshore banking is about. Give you one example. Let's say you owe a tax bill which you are contesting. Now, in most of the modern Western democracies, it's a simple matter for the government to seize the funds from your domestic account. One day you have $10,000 in there - and the next day you don't. And such nations also get the banks to do their tax collecting for them. This is done by the practice of automatically deducting a withholding of tax on any interest earned. In this way your domestic banks are tax agents and put the government's interests above your own - the client.
Opening an offshore bank account puts your funds out of harm's way. If you had $10,000 in an offshore account, your own government could not siphon it off automatically. And if you are banking in a place where there is no tax charged on interest, then your funds are growing quicker - without any withholding taxes being applied at source. An offshore bank account also gives you more financial privacy - something in great demand in this increasingly regulated world. Then there's the flexibility that comes with having more than one bank account - in more than one country. This strategy allows you to hedge your bets and keep your cash in dispersed locations.
2. Choose Your Jurisdiction Wisely
Not all jurisdictions (countries) are equal. Every bank is governed by the laws of the country it is licensed to operate in. It is also governed by a plethora of internationally-applicable financial oversight regulations. While some typical offshore tax havens appear ideal as banking jurisdictions, the truth is that often they aren't - precisely because they have been, or are being, targeted in some way by anti-money laundering laws or other financial restrictions on how they conduct business. You don't want to end up in the middle of such a financial conflict.
Another factor to take into consideration is the geographical area in which the bank operates and the existence of any information sharing treaties or tax-collecting agreements between the countries in that area. Where you currently live in the world impacts on where you can bank offshore. For remember, offshore simply means somewhere other than where you currently reside.
3. The Truth About Privacy and Anonymity
Swiss banking has always been held up as the pinnacle of banking privacy, and that largely holds true - even though they are under increasing pressure to comply with international norms. The Swiss, however, have a vested interest in maintaining their USP (unique selling proposition), that they provide the most secure and private banking in the world. But privacy in an offshore bank is conditional. Most offshore banks will be covered by privacy protection measures, which could include such things as it being a criminal offence for a bank employee to disclose the details of any client's financial affairs. However, these laws can usually be breached by the presentation of a court order issued on the basis of suspected criminal activity.
This is all well and good for those of us who are not criminals, and usually means our privacy is pretty well assured. The trouble is in the definition of the word "crime". It's well known that certain banking jurisdictions have now succumbed to pressure to include tax avoidance as a criminal offense - meaning your account information could be disclosed under such an assertion if part of a court order from another country. So you may as well accept the fact that truly bullet-proof private banking is hard to come by - and anonymous banking is a thing of the past.
4. The Impact of KYC and FATF
Offshore banking has become a lot more restrictive since 9/11 - as the US enforces stringent regulations aimed at combating what it terms money laundering. This catchall approach means that straight-up, honest people find themselves having to jump through hoops just to get started. Unfortunately, there seems to be no end in sight to this process - so all you can do is bite the bullet and proceed.
When you first apply to open an offshore bank account you will immediately feel the impact of KYC (know your customer) regulations. Banks have a way of making this requirement sound as if its in your best interest, but that's just them trying to sweeten a bitter pill. In effect, the bank will want to know a lot more about you than they would have a few years back. They will want not only to sight your valid ID, proof of address and business, banking or personal references, but they will also want to know what you do and what type of account activity to expect.
5. What You Need to Open an Offshore Account
Opening an offshore bank account needn't be traumatic - if you know what to expect and what you're in for. You need to carefully consider your banking requirements. Do you want a personal or corporate account? In most cases a personal account is sufficient - and is usually easier to open. Some offshore banks will only open corporate accounts in person - not on the internet or by mail.
Of course you'll need to have valid passport, and will have to get it notarized by a Notary Public (which you'll usually find in large legal firms). This process involves making an appointment with the Notary and having him sight your passport, then make a copy and add his Notary seal and signature, stating he personally viewed your passport. You will also need one or two utility bills as proof of residence.
The good news is, once you have gone through the mill and opened your account, you'll find the bank (like any company wanting to make a profit) will want to retain your business and keep you happy! A good banking relationship is like gold - so hang on to it.
6. The Facts About Offshore Credit Cards
Most offshore banks will readily offer you a debit card - you know, a plain ATM card like you have from your domestic bank. These are usually Cirrus and Maestro branded, although in EURO countries Visa Electron is quite popular. Now while these cards are very useful, the main function (when issued by an offshore bank) is to withdraw cash from ATM machines.
This is where the desire and need for a full-blown credit card comes in. However, due to rules laid down by Visa and MasterCard International - such cards are usually only available to residents in the country the bank operates from. So, for example, if you have a bank account in an offshore jurisdiction, their Visa card may only be available to local residents - not you.
A good alternative is a Visa or MasterCard debit card - which is directly linked to your offshore bank account. When you spend money using it, the funds are immediately withdrawn from your current account. You can't get credit with this card, but you do get full Visa and MasterCard functionality when traveling internationally - like hotel check-ins, airline bookings etc. These types of cards are not readily available offshore, but a few major offshore banks issue them to their international clients.
7. The Advantages of Accounts in Various Currencies
One of the benefits of banking offshore is the ready availability of multi-currency accounts - where you can open more than one account at the same bank, each denominated in a different currency. Now, why would you want to do that? The answer is simple - for hedging. In this volatile world currencies are always changing value. And as I write this, the USD is deemed to be heading downwards in value over time.
Most offshore banks that provide multiple currency accounts will allow you to move funds quite easily between them, as and when you see fit. So if you have a substantial amount of cash on deposit, then spreading your cash risk by holding different currencies is a sound financial decision - one made a lot easier by having an offshore bank account.
Conclusion
Opening an offshore bank account could be the best thing you ever do. However, many people find the process daunting - not least because they need to overcome the irrational fear that somehow their money won't be as safe as banking at home. Of course the truth turns out to be the opposite. If you bank with a reputable offshore bank, then your money is much safer than before!
David MacGregor has been active in the offshore world since 1998 and lives the Internationalist lifestyle he writes and advises about. He operates a private information service for those seeking more personal and financial freedom, and offers a free introductory e-book entitled 'The FreedomShift', which is available from: http://www.sovereignlife.com
Article Source: http://EzineArticles.com/?expert=David_I_MacGregor
open internet bank account
Banking around the clock is no longer a remote possibility. But the banks don't have to keep their branches open 24 hours a day to provide this service. This is one of the biggest advantages of Internet banking.
One doesn't have to go to the bank's branch to request a financial statement. You can download it from your online bank account, which shows you up-to-the-minute updated figures.
Another advantage of Internet banking is that it is cost-effective. Thousands of customers can be dealt with at once. There is no need to have too many clerks and cashiers. The administrative work gets reduced drastically with Internet banking. Expenditures on paper slips, forms and even bank stationery have gone down, which helps raise the profit margin of the bank by a surprisingly large number.
As far as customers are concerned, their account information is available round the clock, regardless of their location. They can reschedule their future payments from their bank account while sitting thousands of miles away. They can electronically transfer money from their bank accounts or receive money in their bank accounts within seconds.
You can apply for a loan without visiting the local bank branch and get one easily. You can buy or sell stocks and other securities by using your bank accounts. Even new accounts can be opened; old accounts can be closed without doing tedious paperwork. Especially with the increasing acceptability of digital signatures around the world, Internet banking has made life much easier and banking much faster and more pleasant, for customers as well as bankers.
Internet Banking provides detailed information on Internet Banking, Advantages Of Internet Banking, Internet Business Banking, US Internet Banking and more. Internet Banking is affiliated with Best Internet Banks.
Article Source: http://EzineArticles.com/?expert=Marcus_Peterson
One doesn't have to go to the bank's branch to request a financial statement. You can download it from your online bank account, which shows you up-to-the-minute updated figures.
Another advantage of Internet banking is that it is cost-effective. Thousands of customers can be dealt with at once. There is no need to have too many clerks and cashiers. The administrative work gets reduced drastically with Internet banking. Expenditures on paper slips, forms and even bank stationery have gone down, which helps raise the profit margin of the bank by a surprisingly large number.
As far as customers are concerned, their account information is available round the clock, regardless of their location. They can reschedule their future payments from their bank account while sitting thousands of miles away. They can electronically transfer money from their bank accounts or receive money in their bank accounts within seconds.
You can apply for a loan without visiting the local bank branch and get one easily. You can buy or sell stocks and other securities by using your bank accounts. Even new accounts can be opened; old accounts can be closed without doing tedious paperwork. Especially with the increasing acceptability of digital signatures around the world, Internet banking has made life much easier and banking much faster and more pleasant, for customers as well as bankers.
Internet Banking provides detailed information on Internet Banking, Advantages Of Internet Banking, Internet Business Banking, US Internet Banking and more. Internet Banking is affiliated with Best Internet Banks.
Article Source: http://EzineArticles.com/?expert=Marcus_Peterson
open a bank account
One of the popular topics these days in the financial world are "second chance accounts." You see, like the name implies, these are special accounts that give people as second chance at re-establishing a relationship with the banking world. A second chance account allows people who are unable to open an account with any other bank.
It may seem like a small thing to have a checking account, but it's not. It's easy to take for granted having one until you actually lose one. Many people who experience financial problems may find that their bank freezes their accounts. Any attempts at opening a new account with another bank company will be met with rejections.
Having no banking account is a big deal -- a very big deal. No bank account is worse than having no credit card. You don't have access to the everyday financial transactions that most people enjoy. You might face problems trying to get paid because you don't have an account for your employer to deposit money electronically. Any sort of loan service will be denied you - no credit company will give out a loan to someone with no banking account. You won't be able to cash checks. In short, life can be difficult indeed to live without a bank account.
The reason for this grief lies with the ChexSystems network.
Chex System gives banks a deposit account verification services to help banks identify people who have a history with mishandling their accounts (for example, a person who has overdrawn his or her bank account and had it shut down). Chex Systems, on paper, sounds pretty useful, and for some purposes, it is. Banks can tell if a person has history of financial abuse. However, not all financial misdeeds are related to fraud or account abuse. Most people end up writing a check that bounces at some point.
The aim of Chex Systems is to:
1. Prevent bank account fraud
2. Keep tabs on bad bank customers
3. Ensure banks are protected
Unfortunately, Chex Systems can cause a lot of problems for ordinary people who have cashed a couple bad checks.
If you find yourself on the wrong side of Chex Systems, then this is where second chance checking comes in. A second chance bank account gives a person who is not able to open any other bank account the opportunity to open a new bank account. This is a pretty big deal because it means you can effectively re-establish a relationship with the banking world again. So if you can't open an account with a bank because of your past financial history, consider looking into second chance banking.
Learn how to apply for bad credit banking account without having to worry about getting rejected.
Article Source: http://EzineArticles.com/?expert=David_Woo
It may seem like a small thing to have a checking account, but it's not. It's easy to take for granted having one until you actually lose one. Many people who experience financial problems may find that their bank freezes their accounts. Any attempts at opening a new account with another bank company will be met with rejections.
Having no banking account is a big deal -- a very big deal. No bank account is worse than having no credit card. You don't have access to the everyday financial transactions that most people enjoy. You might face problems trying to get paid because you don't have an account for your employer to deposit money electronically. Any sort of loan service will be denied you - no credit company will give out a loan to someone with no banking account. You won't be able to cash checks. In short, life can be difficult indeed to live without a bank account.
The reason for this grief lies with the ChexSystems network.
Chex System gives banks a deposit account verification services to help banks identify people who have a history with mishandling their accounts (for example, a person who has overdrawn his or her bank account and had it shut down). Chex Systems, on paper, sounds pretty useful, and for some purposes, it is. Banks can tell if a person has history of financial abuse. However, not all financial misdeeds are related to fraud or account abuse. Most people end up writing a check that bounces at some point.
The aim of Chex Systems is to:
1. Prevent bank account fraud
2. Keep tabs on bad bank customers
3. Ensure banks are protected
Unfortunately, Chex Systems can cause a lot of problems for ordinary people who have cashed a couple bad checks.
If you find yourself on the wrong side of Chex Systems, then this is where second chance checking comes in. A second chance bank account gives a person who is not able to open any other bank account the opportunity to open a new bank account. This is a pretty big deal because it means you can effectively re-establish a relationship with the banking world again. So if you can't open an account with a bank because of your past financial history, consider looking into second chance banking.
Learn how to apply for bad credit banking account without having to worry about getting rejected.
Article Source: http://EzineArticles.com/?expert=David_Woo
open business bank account
When you start your business it may seem unnecessary to you to worry about managing your business transactions, especially if you start off small, but believe me, in the long run a well organised system of accounts will make life simpler in the long run. You may find it simpler by writing down what you need from your account and doing some research into specific bank accounts. Many have attractive features and offer free services within an account to entice you.
Businesses have different needs and it can depend on the size of the company and how much cash goes in and out so it is imperative you choose the right bank accounts to suit your needs and that benefit your business. Start at the beginning by separating your business and personal accounts. If you don't you will then have an extra job later on to try to identify and analyse each item into separate accounts - and this is time consuming. You may in the future employ a bookkeeper and this person will find it much harder to decipher transactions into relevant accounts. This will mean time and time money! You may find also the tax man doesn't take too kindly to businesses that mix business with personal items. You may risk unwanted higher tax assessments if it can not be assessed what is legitimate business expenses and what is personal. Separate bank accounts and records will make it easier in the end.
If you do decide to open separate bank accounts for personal and business always make sure you use the business account for all business items as it is a business expenditure and will likely become tax deductible.
Some banks will issue business bank account charges. Look around as some banks will let their customers' bank for free, especially if you operate online accounts. As usual there are normally conditions that apply so one has to shop around for the best deal. Don't feel that you have to use one bank it is worth investigating other banks. Competition within banks is rife so be persistent and you will get a favourable deal. You will receive different benefits from different banks and if you are confident with online banking this may be the way to go as some banks offer better interest rates and the transaction fees can be less expensive.
Maybe choose a bank that has a specialised small business unit. Establishing a good working relationship with your bank is beneficial.
Deliver YOUR Monetized Content, ANY Content to Google Gadgets, Google Desktop, Yahoo Widgets, FaceBook, Thousands of News Aggregators... And the Mighty Google.com With One Click http://www.elertgadget.com
http://www.elertgadget.com/elertlibrary/Finance/Personal_Finance/organising_your_bank_accounts_7651.htm
Article Source: http://EzineArticles.com/?expert=David_Lockley
Businesses have different needs and it can depend on the size of the company and how much cash goes in and out so it is imperative you choose the right bank accounts to suit your needs and that benefit your business. Start at the beginning by separating your business and personal accounts. If you don't you will then have an extra job later on to try to identify and analyse each item into separate accounts - and this is time consuming. You may in the future employ a bookkeeper and this person will find it much harder to decipher transactions into relevant accounts. This will mean time and time money! You may find also the tax man doesn't take too kindly to businesses that mix business with personal items. You may risk unwanted higher tax assessments if it can not be assessed what is legitimate business expenses and what is personal. Separate bank accounts and records will make it easier in the end.
If you do decide to open separate bank accounts for personal and business always make sure you use the business account for all business items as it is a business expenditure and will likely become tax deductible.
Some banks will issue business bank account charges. Look around as some banks will let their customers' bank for free, especially if you operate online accounts. As usual there are normally conditions that apply so one has to shop around for the best deal. Don't feel that you have to use one bank it is worth investigating other banks. Competition within banks is rife so be persistent and you will get a favourable deal. You will receive different benefits from different banks and if you are confident with online banking this may be the way to go as some banks offer better interest rates and the transaction fees can be less expensive.
Maybe choose a bank that has a specialised small business unit. Establishing a good working relationship with your bank is beneficial.
Deliver YOUR Monetized Content, ANY Content to Google Gadgets, Google Desktop, Yahoo Widgets, FaceBook, Thousands of News Aggregators... And the Mighty Google.com With One Click http://www.elertgadget.com
http://www.elertgadget.com/elertlibrary/Finance/Personal_Finance/organising_your_bank_accounts_7651.htm
Article Source: http://EzineArticles.com/?expert=David_Lockley
open new bank account
Imagine walking into every bank you see and getting rejected for every single bank account you apply for. This sounds fictional, but it is real, I assure you. In my experience working for a banker, I estimate a significant percentage of the people who tried to open a bank account were rejected.
Why?
Because these people cashed one single bad check. You see, banks have s system set up to try and protect themselves against people who habitually mismanage money or commit fraud. Cashing bad checks, defaulting on loans, etc. This works good in theory, but what happens is that innocent people end up getting caught in the "system." A lot of people who have not committed bank fraud end up being banned from opening a bank account.
Checking accounts for people with a history of banking bad credit are sometimes given out by banks, but usually, it's not the case. You can be utterly assured that if you have a history of financial misdeeds, banks keep a careful record of your past transactions. You may think that you can leave all your financial problems behind with one bank and start fresh with another banking institution, but this isn't the case. Your bad banking history will follow you around.
Some banks might still give you a checking account if you have bad credit history, but it comes down to how bad your "credit" is -- i.e. how bad your Chex System score is. Banks don't look at your credit history score, but rather your banking credit - your previous history of banking. If you have had a few financial mishaps, you can probably still open up a new bank account. But if you have had some major problems like home foreclosure, loan defaults, or have had your account closed by your bank, no bank that checks your previous banking history is going to give you a new bank account.
If you find yourself in this situation then you are going to have to either find a bank that does not look at your credit history, or looking around for a second chance account online. A second chance account is a specific bank account created just for people who are unable to open any other account because they have a history of bad banking credit.
My recommendation for people who can't get a bank account is to try and appeal your Chex Systems entry (you can contact your local bank to find out how) or to get a second chance account. Whatever you do, you want to make sure you get a bank account again as soon as possible.
There are plenty of internet bad credit banking offers you can check out online. Make sure you always do some research on the bank's reputation to prevent any problems. If you need a bad credit bank, there are plenty of options offered.
Article Source: http://EzineArticles.com/?expert=David_Woo
Why?
Because these people cashed one single bad check. You see, banks have s system set up to try and protect themselves against people who habitually mismanage money or commit fraud. Cashing bad checks, defaulting on loans, etc. This works good in theory, but what happens is that innocent people end up getting caught in the "system." A lot of people who have not committed bank fraud end up being banned from opening a bank account.
Checking accounts for people with a history of banking bad credit are sometimes given out by banks, but usually, it's not the case. You can be utterly assured that if you have a history of financial misdeeds, banks keep a careful record of your past transactions. You may think that you can leave all your financial problems behind with one bank and start fresh with another banking institution, but this isn't the case. Your bad banking history will follow you around.
Some banks might still give you a checking account if you have bad credit history, but it comes down to how bad your "credit" is -- i.e. how bad your Chex System score is. Banks don't look at your credit history score, but rather your banking credit - your previous history of banking. If you have had a few financial mishaps, you can probably still open up a new bank account. But if you have had some major problems like home foreclosure, loan defaults, or have had your account closed by your bank, no bank that checks your previous banking history is going to give you a new bank account.
If you find yourself in this situation then you are going to have to either find a bank that does not look at your credit history, or looking around for a second chance account online. A second chance account is a specific bank account created just for people who are unable to open any other account because they have a history of bad banking credit.
My recommendation for people who can't get a bank account is to try and appeal your Chex Systems entry (you can contact your local bank to find out how) or to get a second chance account. Whatever you do, you want to make sure you get a bank account again as soon as possible.
There are plenty of internet bad credit banking offers you can check out online. Make sure you always do some research on the bank's reputation to prevent any problems. If you need a bad credit bank, there are plenty of options offered.
Article Source: http://EzineArticles.com/?expert=David_Woo
open a bank account online
The Internet has made every day life a lot more convenient for everyone, and opening a bank account online is just one of those conveniences. It is simple, quick and easy. Best of all being that it only takes a few minutes to do.
If you’re like most of us, you really don’t have the time to go to the bank, and wait in the customer service area until someone has time to help you. Most, if not all of the local banking institutions in your area offer online account management, so if you do not already have an account established, you could open a bank account online.
Online banking is a convenient and secure way to keep track of transactions, and customers can view all accounts at a glance. The local bank is always available to make deposits and complete other financial transactions that need to be taken care of in person. If you choose to go with a bank that doesn’t have a local office, deposits must be mailed or wired because most online banks do not offer transfers between outside bank accounts.
Before you open a bank account online, check out all the different services offered by online banking institutions, and make your choice based on which ones fit your needs the best. Many banks offer free checking with no minimum balance, no monthly fees, free bill pay, ATM/debit card, overdraft protection, with or without direct deposit, as well as other banking services like stop payments and copies of checks written. Some banks also pay customers interest based on average daily balance for savings and checking accounts, or have other interest incentives to keep the balance above a specified minimum.
As mentioned earlier it isn’t necessary to open bank accounts online with financial institutions that have local branch offices in your area, but it is more convenient for making deposits that cannot be directly deposited, especially if you’re in a hurry to get the money into your account.
If you haven’t already, it’s time to join the 21st century and get on the ball and open a bank account online, or start using the online banking features offered by your present financial institution. Enjoy the convenience of banking online and make better use of your time by paying bills directly with e-pay, and take advantage of all the time saving features that are offered by your bank.
You can easily direct deposit funds into your accounts and pay your bills online. This is a great money management tool that also allows transactions to be downloaded into your personal Quicken, or other accounting program.
If you haven't already done so, open a bank account online today and make your day-to-day life just a little bit easier.
Discover more information on how to Open A Bank Account Online [http://www.Banking.InfoFromA-Z.com/Open_A_Bank_Account_Online.html] as well as information on banking and investments at [http://www.Banking.InfoFromA-Z.com]
Article Source: http://EzineArticles.com/?expert=Terry_Edwards
If you’re like most of us, you really don’t have the time to go to the bank, and wait in the customer service area until someone has time to help you. Most, if not all of the local banking institutions in your area offer online account management, so if you do not already have an account established, you could open a bank account online.
Online banking is a convenient and secure way to keep track of transactions, and customers can view all accounts at a glance. The local bank is always available to make deposits and complete other financial transactions that need to be taken care of in person. If you choose to go with a bank that doesn’t have a local office, deposits must be mailed or wired because most online banks do not offer transfers between outside bank accounts.
Before you open a bank account online, check out all the different services offered by online banking institutions, and make your choice based on which ones fit your needs the best. Many banks offer free checking with no minimum balance, no monthly fees, free bill pay, ATM/debit card, overdraft protection, with or without direct deposit, as well as other banking services like stop payments and copies of checks written. Some banks also pay customers interest based on average daily balance for savings and checking accounts, or have other interest incentives to keep the balance above a specified minimum.
As mentioned earlier it isn’t necessary to open bank accounts online with financial institutions that have local branch offices in your area, but it is more convenient for making deposits that cannot be directly deposited, especially if you’re in a hurry to get the money into your account.
If you haven’t already, it’s time to join the 21st century and get on the ball and open a bank account online, or start using the online banking features offered by your present financial institution. Enjoy the convenience of banking online and make better use of your time by paying bills directly with e-pay, and take advantage of all the time saving features that are offered by your bank.
You can easily direct deposit funds into your accounts and pay your bills online. This is a great money management tool that also allows transactions to be downloaded into your personal Quicken, or other accounting program.
If you haven't already done so, open a bank account online today and make your day-to-day life just a little bit easier.
Discover more information on how to Open A Bank Account Online [http://www.Banking.InfoFromA-Z.com/Open_A_Bank_Account_Online.html] as well as information on banking and investments at [http://www.Banking.InfoFromA-Z.com]
Article Source: http://EzineArticles.com/?expert=Terry_Edwards
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