Posted on 27 December 2010
Tags: account balance, account holder, balance, balances, bank, bank statement, bank statements, banking, banking services, Banks and Institutions, British Bankers' Association, burglary, Business, businesses, Business_Finance, Cheque, cheque books, claim, consumers, customer, Deposit account, Dormant account, dormant accounts, estate, Finance, financial services, individuality, interest, interest payment, investment, mail, major bases, Money, Overdraft, Payment systems, rationale, reply, statements, status, status of account
The British Bankers Association defines a dormant account; a bank and a customer have not been in touch with each other anymore. Practically it means that a customer either died or shifted house, and the bank has not been informed. Therefore, the bank is unable to trace the account holder.
Sleeper Status
If there has been no dealing in an account for a period of a year, the bank will write the account holder at his last recorded address. The bank asks him, if he wants to keep the account open.
If no reply is received, the bank will change the status of account to the ‘sleeper’. This simply means that from now onwards the statements, cheque books or other mail will not be sent to the customer.
However, the balance amount in the account still earn interest at a normal rate and the bank will keep trail the account balance record the last recognized address.
Reasons for Dormant Accounts
On account of two major bases, the account becomes dormant. The foremost and the most apparent is to save the money in terms of issuing the statements and the similar, when there is an activity on the account on monthly basis; It is apart from that taken by the bank, like interest payment.
The other important reason is to protect against individuality burglary.
Posted on 17 August 2009
Tags: advertisements, APR, car, card issuers, checking account, consumers, convenience checks, credit cardholders, credit line, family, Fraudsters, free money, friends, Introductory APR, mail, Merchants, pay, penalty fee, savings account, signature verification, Terms And Conditions, transaction history, vacation
The associated card issuer, from time to time, issues convenience checks to credit cardholders by email. In fact, most consumers receive them at least once a month. Although these may seem tempting, and look like “free money”, they are far from it. Thus, make sure you understand all the terms and conditions before you use them.
How Convenience Checks Work
It is possible to use convenience checks like any other check. You can give them to whoever accepts checks as payment, including merchants, family, friends, or yourself if you wish, to deposit funds into your own checking or savings account.
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Posted on 25 February 2009
Tags: 1-877-438-4338, account, after bankruptcy credit fix, bad credit fix repair, bank, bank account, bank statements, banking, Better Business Bureau, Business, card, card credit fix rate, check credit report fix, computing, credit, credit card applications, credit card to fix credit, credit credit credit fix repair report restoration, credit error fix report, credit fix free report, credit fix free score, credit fix it yourself, credit fix online report, credit fix repair report, credit fix report score, credit rating fix, encryption technology, Federal Trade Commission, firewall, fix a bad credit report, fix bad credit, fix bad credit for free, fix bad credit report repair, fix bad credit score, fix credit, fix credit history, fix credit on own, fix credit problem, fix credit quick, fix credit score, fix credit score fast, fix credit workbook, fix my credit i, fix my credit now, fix my credit report myself, fix your credit report, free credit fix, help fix my credit, how to fix my credit fast, how to fix negative credit, how to fix problem on your credit report, identity, information, loan, mail, quickly fix bad credit, rate, repair, report, safe, score, victim, ways to fix your credit
If you have a lower credit score that you would like, odds are that the score is caused by some small financial mistake or oversight you have made in the past. Not every person with bad credit has a low credit score caused by something they did, though. Sometimes, other people’s criminal activity can affect your credit score. There are a few tips that can keep you and your credit safe form online and financial predators:
Look out for identity theft.
Many people who are careful about paying bills on time and having minimal debts are shocked each year to find that they have low credit scores. In many cases, this happens as a result of identity theft. Identity theft is a type of crime in which people take your personal information and steal that information to pose as you in order to get access to your accounts or identity.
For example, someone with your PIN numbers can remove small amounts of money from your bank account each month or someone can use your name and personal information to get credit cards in your name and use those credit cards with no intention of paying back the money. You are stuck with the large debts and the poor credit score.
To prevent identity theft, always check your account statements carefully each month. Report any suspicious activity or any charges you don’t recognize at once. Also check your credit report regularly and immediately investigate any new credit accounts you do not recognize – this is the best way of detecting and acting on identity theft.
If you have been the victim of identity theft, report to the police at once and get a police statement. Send copies of this to your bank and credit bureaus. Better yet, get the credit bureaus to attach the report to your credit report, if you can. Close all your accounts and reopen new ones. You should not have to pay for someone else’s illegal activity.
Practice safe banking, safe computing, and safe business practices.
To stay safe from identity theft, always follow safe banking and financial practices:
1) Keep account numbers and PIN numbers safe. Cover your account and PIN numbers when using debit at the store and refuse to give your PIN number to anyone. Avoid writing down your PIN and account numbers – you never know when this information could fall into the wrong hands.
2) Only do business with businesses you trust.
3)If you get applications for credit cards in the mail that are “pre-approved” rip up the applications and enclosed letters before discarding them. No, this is not paranoid. Identity thieves sometimes go through garbage in order to find these forms so that they can fill them out and steal your identity.
4) If you use a computer, install good firewall and antivirus protection system and update it religiously. Better yet, take a course in safe computing at your local college or community center. You will learn many good tips for keeping all your information safe while you are online.
5) Never buy anything online from a company you do not trust of from a company that does not have encryption technology and a good privacy policy.
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