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8 Time-Saving Online Banking Services

8 Time-Saving Online Banking Services

Ask The Entrepreneurs is a regular series where members of those involved in the Young Entrepreneur Council are asked a single question that aims to help Lifehack readers level up their own lives, whether in a area of management, communication, business, or life in general. Here’s the question posed in this edition of Ask The Entrepreneurs:

What’s your favorite online-only banking service, for personal or business use?

1. Ally

Andrew Schrage

    My favorite online-only banking service is Ally (www.ally.com), mostly because of its stellar customer service. Nothing upsets me more than having a difficult time contacting an online-only banking provider when I have a question, but Ally poses no problem. A CSR always answers the phone promptly and quickly takes care of my needs. – Andrew Schrage, Money Crashers Personal Finance

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    2. Dwolla

    doreen-bloch

      Dwolla (www.dwolla.com) is a new tool we’ve been using at Poshly for online banking. It’s the best peer-to-peer money transfer system I’ve seen so far. It’s incredibly simple to set up, and their customer service is incredible. We have our team using it for reimbursements and monthly paychecks. – Doreen Bloch, Poshly Inc.

      3. Bill.com

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      David Ehrenberg

        While Bill.com (www.bill.com) isn’t exactly an “online-only banking service,” it is a fantastic online bill pay service, offering a great way to streamline your payables while eliminating paper. You can easily enter bills, pay them (or submit for approval), record payments, create invoices, send invoices, and send invoice reminders. Clients can even sign in to a secured portal to pay invoices. – David Ehrenberg, Early Growth Financial Services

        4. Chase

        W. Michael Hsu

          Chase (www.chase.com) has been pretty tech-savvy with their online banking, and, so far, we’ve had great pleasure working with them. I’d say their strength is allowing read-only access for your advisers to pull data from, and their weakness is some of the transaction descriptions they provide. Overall, I’d give them an eight out of ten for ease of use, as well as price point. – W. Michael Hsu, DeepSky

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          5. Charles Schwab

          Nathalie Lussier

            I love Charles Schwab (www.schwab.com/) because their interface is straightforward; They have an amazing mobile app, and they make banking with them really easy. You can use any ATM and they reimburse you the fees, and you can also take a picture of incoming checks with your smartphone to be deposited electronically. I’m a very happy customer. – Nathalie Lussier, The Website Checkup Tool

            6. Simple

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            Chuck Reynolds

              For online-only banking, you have to strongly look at Simple (www.simple.com). It’s a real bank without all the fees and BS associated with the old-school mentality of the current brick-and-mortars. Other than a very nice UI, there are category features like Mint and some very useful graphing functions, too. – Chuck Reynolds, Vuurr

              7. Wells Fargo

              Chad Halvorson

                Wells Fargo (www.wellsfargo.com) has, by far, the best online banking experience I’ve ever seen. That’s not to say it couldn’t be improved, but that is to say that everything else is absolutely horrid. On a scale from one to ten, Wells Fargo’s online banking experience is a solid seven, whereas everyone else is at a three or lower. Overall, I think the online banking space is chomping at the bit for reinvention. – Chad Halvorson, When I Work

                8. PerkStreet Financial

                Lane Sutton

                  A local Boston startup, PerkStreet Financial (www.perkstreet.com), aims to provide convenience by acting as an online bank with access to ATMs, surcharge-free. Account owners earn “perks” as cash back for what they spend, hence the name. The online account is tracked via a simple interface for history and mobile alerts. Customers will appreciate 24/7 customer service, as TD Bank, Ally and other institutions have adopted. – Lane Sutton, Social Media from a Teen

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                  Last Updated on March 29, 2021

                  Life Insurance: A Secure Way To Protect Your Future.

                  Life Insurance: A Secure Way To Protect Your Future.

                  Life is a journey full of ups and downs. No one can actually predict what might happen the next moment; there are times where the happiest moments do not even take a second to turn into the gravest. Planning for your future can help you face such unwelcomed but irrepressible situations with much ease. We all want to make every memorable event of our life more special and to cherish all those moments happily and worry less, you must financially plan your future. But no one has control over life and death. Who would wish to see his family suffer in his absence? Insurance hands over the financial jeopardy of life’s happenings to an insurance company.

                  Importance of getting a life insurance

                  No one has control over life and death. Nobody would like to see their family suffering in an absence, and that’s why many people recommend life insurance. A life insurance plan is one of the best ways to secure the future of your family, even against those financial troubles after an untimely demise. These plans are safe and credible, and you could trust them for your family’s better future.

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                  On the other hand, a life insurance policy is a contract between a company (insurance provider) and policyholder in which the insurance provider ensures to pay a certain amount of money to the nominated beneficiary in case of the policyholder’s death during the term of the agreement. There are different types of insurance plans, and it is important for you to know the benefits of those plans such as a funeral, medical or some life expenses provided they are mentioned in the agreement.

                  Choosing the right insurance plan

                  If you’re about to select an insurance plan, you should consider some important factors:

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                  • The time at which you start investing in a program and the number of family members you want to get insured. Obviously, a married man with two children has different needs compared to a single one. The number of persons who are dependent on an individual also varies from person to person.
                  • The next thing you need to consider is you and your family needs. What are your child’s dream, your retirement plans, for how long would your dependents need financial support, any personal injury, etc. And do not forget those events or situations that will surely demand a huge sum of money.
                  • The next thing one must consider is your current income. You should preferably choose a plan which you can afford.

                  Now you must be having a pretty clear idea of how to choose the best plan for you. Further, you should also compare various plans offered by different companies and numerous sites available online that help will you to compare them.

                  Differences between life insurance plans

                  Here’s a short brief of some plan categories you can choose according to your needs:

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                  • Term Insurance Plan – You have to pay once, and your nominee gets the paid money under your misfortune demise. It ensures a person for a fixed time. If you survive the policy period, you do not get your premiums back.
                  • Whole Life Policy – This plan continues for your lifetime. Under this, the policyholder has to pay regular premiums, until their death.
                  • Endowment Policy –  In case the individual dies during the tenure, the beneficiary gets the amount assured. If the person survives the policy tenure, they gets back the premiums paid with other investment returns along with several other benefits.
                  • Money Back Policy – In this a portion of the money invested is returned to the investor at regular intervals. If you survive the insurance term you get the entire amount back; else the beneficiary receives the entire sum assured.
                  • ULIPs – These are the life insurance plans that offer you future security plus wealth creation options.

                  Many people do not opt for whole life policy and endowment policy because of the high amount of money you need to pay, while others may prefer to opt for these if they have a high life expectancy. Surely you will find the best one for you.

                  So what are you waiting for? Plan for your future and live a happier and carefree life today.

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                  Featured photo credit: aryehsampson.com via aryehsampson.com

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