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Predatory lending exists in the mortgage industry. It’s typically when a mortgage broker add’s on unnecessary fee’s to a bad credit application, because he or she knows that the applicant is in a desperate situation.

Predatory banking can also exist for those who have ended up in the ChexSystems.

ChexSystems is a network of financial institutions (mainly banks) that regularly contribute information about account holders that mishandle their checking or savings accounts. Nearly all banks within the US are a part of this consortium.

Bounce a check, and not pay it off in a timely manner, and you could end up in the ChexSystems. Even if you receive a bogus check, and the bank suspects foul play, you could land in the ChexSystems hot seat.

And the sentence for this financial felony isn’t light.

If the bank that put you in the ChexSystems refuses to release your name from the ChexSystems database, you’ll find it close to impossible to obtain a bank account of any sort for 5 years.

Even if you pay off the offending debt, the bank could still hold you a ChexSystems prisoner. Wicked, but 100% true.

So naturally when you have a situation where people are stuck between a rock and a hard place, the vultures come out to feed. This is what you may encounter if you’re looking for a non ChexSystems bank account.

Before you pay money to any service that claims to give you a non ChexSystems bank account be sure it passes the following tests with flying colors.

1. Make sure the bank is FDIC insured.

   According to the FDIC web site:

   “The FDIC - short for the Federal Deposit Insurance Corporation - is an independent agency of the United States government. The FDIC protects you against the loss of your deposits if an FDIC - insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.”

   In a nutshell, if you decide to open a bank account with an institution that isn’t FDIC insured, you could basically lose all of your money if that institution goes out of business. So it’s extremely important to verify the banks status before you open an account.

   You can easily verify that a bank is FDIC insured at the FDIC web site.

2. If it’s a credit union, make sure it’s NCUSIF insured.

   NCUSIF insurance is similar to FDIC insurance, except it’s for credit unions.

   According to the National Credit Union Association web site:

   “The shares in your credit union are insured by the National Credit Union Share Insurance Fund (NCUSIF), an arm of NCUA. Established by Congress in 1970 to insure member share accounts at federally insured credit unions, the NCUSIF is managed by NCUA under the direction of the three-person NCUA Board. Your share insurance is similar to the deposit insurance protection offered by the Federal Deposit Insurance Corporation (FDIC).”

   All credit unions that are NCUSIF insured can be found at (http://www.ncua.gov/indexdata.html).

3. Make sure the institution has a physical branch.

   This is one of the easiest ways to weed out the bad seeds. Banks with physical branches are always legitimate financial institutions.

4. Do some background work on the bank.

   Do a WHOIS search to view the registrant for the banks domain name. If it’s a single person, that should raise a red flag. It should always be the banks name or corporate name.

   Look on the banks web site. There should be separate telephone and fax numbers, and a legitimate street address - not a PO box.

   You can always call 411 to confirm that the telephone number matches the address listed. But also keep in mind that some banks have a central location where they answer general calls.

5. Make sure the bank DOESN’T require you to use direct deposit in order to open the account.

   There are some financial services that offer checkless checking accounts. (This isn’t a scam as far as I can tell.)

   But what if you don’t get direct deposit? Or what happens if you switch jobs, and no longer receive your checks through direct deposit? Then you’re basically back at square one.

   And what if you want to use checks? I mean a checkless checking account kind of defeats the purpose of obtaining a checking account at all.

6. Make sure the institution doesn’t charge you for common items like monthly statements, telephone services, and withdrawls.

   I recently noticed a financial service charging outrageous fee’s for options that are normally provided for free through regular banks and credit unions.

   They were charging for everything but the kitchen sink, including: a fee to check your balance at the ATM, a fee to receive a monthly statement, a fee if you wanted to return something you purchased from a retail store, a fee for using their automated telephone service. And that was just the tip of the iceberg!

Even though you’re in the ChexSystems doesn’t mean you should play victim to financially draining ploys like these. There are always better alternatives waiting in the wings.

Alexis Dawes is the author of “How To Get a Bank Account Even If You’re in the ChexSystem.” This report offers information on non chexsystems banks that will give you a checking account, even if you’re in the Chexsystems. Alexis has personally used all of the recommended banks. You can get more information at (http://www.GetCheckingNow.com).

Because if members of the public or clients come to your premises or you go to theirs, you can think about looking into investing in public liability insurance. This class of insurance will often cover various things, any awards & monies passed to a member of the general public for the reason that of injury and damage to the client’s properties caused through you yourself or your business.

There are countless circumstances, exclusions & warranties that may be applied to risk insurance policies. It is thus vital that you yourself discuss with your insurance advisor any that are applicable to your business liability insurance policy.

A super brand who focus in this are Insured Risks. The small business insurance company recommend business insurance available at a very reasonable price. The insurance firm will often guarantee that you and your business take out the correct business liability insurance policy that is suitable for you and your corporation. Owning risk insurance is not a compulsory requirement nonetheless it does however make tremendous business sense. Local authorities will generally demand a minimum level of over 2 million public liability insurance for works to be undertaken at the client’s workplace or on their behalf.

Insured Risks public liability insurance cover is available for well over two hundred and ten contracting trades and professional occupations. Business insurance cover is available on steps of one million two million & for the majority of cases £5m. The small business insurance firm is specially designed to cover individual tradesman, professionals & start up businesses up to a total of 20 people, with or without limited company status. Insured Risks will give you Public Liability Insurance at fantastic prices.

Online banking has come of age. The security systems are very
high and the transactions are done through secured socket layer.
The bank security is rarely breached.

The main problem with online banking is the computer at home,
office or cyber café where the transaction is done online, which
creates the problem. Computers can be easily hacked and the
passwords can be stolen by professional hackers. Computers with
windows software are vulnerable. If a hacker breaches your
computer’s security he can easily login to your internet banking
account and misuse it. The bank won’t be able to find whether
you are using the computer or somebody else.

It is necessary that your computer is safe and has firewall and
antiviral software installed in it. In most offices the security
is very high and you won’t be able to download any software,
songs etc. If you can’t download software etc to your computer
then it is regarded as a safe place to transact online. Also,
changing your password regularly is recommended. It is advised
not to login to your online account from cyber café’s quite
often as hackers can easily capture your user id and password.
If you access your online banking account from cyber café’s then
it is advised to change your password as soon as you can.

Never open an email, whose source you do not know. These emails
could have virus, spyware or website links. Nowadays, there are
many websites designed to look like banking websites. When you
use your user id and password, it will capture it. These kinds
of websites have started flourishing. This is called as
phishing. So never open an unsolicited email.

You may be wondering, `Why would David Jenyns write about the worst Forex trading strategy around?`

There are a couple of reasons:

First, to warn you about the worst Forex trading strategy, because you really don`t want to end up using this system.

Second, because once you know the worst possible Forex trading strategy, the one that is designed to maximize your losses over the long run, then you can reverse it to craft a strategy which does the exact opposite.

With what you learn from the worst Forex trading strategy, you will be able to create a system that will produce some tremendous long-term gains. The worst Forex trading strategy I`m referring to, which is simply the worst Forex trading strategy I have ever encountered, is known as averaging down. This horrifying Forex trading strategy is the process of buying more shares that you had previously acquired, as the price drops.

Traders often purchase shares this way in an effort to reduce their initial entry price.

Only bad investors average down by buying shares of a sinking assests to decrease their overall average price per share. This Forex trading strategy is hardly ever effective, and is often like throwing good money after bad. It also magnifies a trader`s loss if the share keeps dropping. Remember, just because a share is cheap now that doesn`t mean it`s not going to get any cheaper. However, let`s examine how this devastating Forex trading strategy works. Say you bought one thousand shares at $40.

The novice investor may not have a stop loss in place, and the share price falls to $30 dollars. Here comes the stupidity of this Forex trading strategy - to average down the novice trader might by another thousand shares at $30 to lower the average cost per share that he`d already purchased. So, his average cost per share would now be $35.

Unfortunately, the share price may fall even further, and the novice trader will again buy more shares to reduce the average cost per share. They end up buying more and more into a share that`s losing their money.

Now, imagine this Forex trading strategy being applied to a portfolio of assets. In the end, all the capital will automatically be allocated to the worse performing assets in the portfolio while the best performing assets are sold off. The result is, at best, a disastrous underperformance versus the market.

If a trader uses an averaging down system and uses margins, their losses will be magnified even further. The biggest problem with this Forex trading strategy is that a trader`s gains are cut short, and the losers are left to run. My advice is - never average down. The process of buying a share, watching it fall, and then throwing more money at it in the hopes that you`ll either get back to break even or make a bigger killing is one of the most misguided pieces of advice on Wall Street. Never be faced with a situation where you`ll ask yourself, Should I risk even more than I originally intended in a desperate attempt to lower my cost and save my butt?`

Instead, design a simple, robust system with good money management rules. I can practically guarantee the results will be better than averaging down.

David Jenyns is recognized as the leading expert when it
comes to designing profitable forex trading systems.

Discover the “secret formula” of trading that anyone can use
to consistently generate BIG profits from the market by
downloading your FREE copy of David’s new Ultimate
Forex Trading Systems course.

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Sometimes we have to forget about all the hype and just think about what is really important. When George Bernard Shaw was asked if he were in the National Gallery and there was a fire, which painting would he try to save. He answered, “The one nearest the door of course.”

If you have found yourself searching the web for trading support and come upon a site (more likely like a couple of hundred sites) that tells you the author has created a trading system that generated a rate of return that would be a work of art, it is time to start looking for the door. Yes, there will be a strategy and yes, he can say there were signals created but he often will not tell you how he created the system.

System developers use a tool called optimization. In the hands of an experienced developer or trader this is a tool that can help in fine-tuning an intelligently crafted system. Optimization takes the many variables in a system and allows a developer to test each combination and inform the developer, which set of variables, resulted in the best return. The combinations can be in the tens of thousands to be tested and this kind of work is exactly what computers were created for. After a short time there will be a presentation of the best set of variables. But understand this is just happenstance for that particular investment vehicle over that specific period of time.

Change the vehicle or use a different period of time for the back test and the results will most often be completely unrelated to the original optimized system test.

There is no shortage of developers that either do not know this or they know it and chose not to tell you the devious approach they have taken as they attempt to encourage you to send them some money for their expertise.

We just searched Yahoo for “trading systems” and found over 18,000,000 websites in the search. So, be careful out there.

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