Are You Looking for an Online Banking Services Without Fees Attached? Try ING Direct
ING Direct is an online banking web site that is very convenient for people. Since it is not the kind of bank with branches, but rather an online bank, ING Direct offers services without fees attached.
One kind of service that ING Direct provides is savings accounts. Savings accounts on ING Direct typically have higher interest rates than other banks, simply because they don't have the overhead fees of banks with local branches. There are no fees, no minimum deposits, no withdrawal charges, and you can have multiple accounts with different names for saving for different purposes. ING Direct savings accounts are linked to a checking account at your local bank for the purposes of making transfers back and forth. They do not use snail mail.
ING Direct does not offer checking accounts. They do, however, offer mortgages, home equity loans, mutual funds and also CDs of varying lengths. There are very low closing costs and no application fees for mortgages. Home equity loans have a large amount you can borrow, at a low rate, and have no application fees, no annual fees and no prepayment penalties. You can purchase a certificate of deposit (CD) from ING Direct for as short as a 6-month period and get a very good interest percentage on your money. CDs also have no minimums, so anyone can afford them. If you can keep money in for as short as 6 months, ING Direct offers one of the best interest rates around.
ING Direct allows you to schedule direct-deposit transfers to your savings accounts which will automatically be taken from your checking account. It is very easy to use, and easy for anyone to find a way to save money at a decent interest rate.
There are even rewards for referring friends to ING Direct. If you refer a friend and they sign up for a new account, ING will deposit $25 into your account. It's a good way to make extra money, and a legitimate way to save money.
ING Direct is FDIC insured, and has strong security measures in place to keep your information private and confidential. The web address is www.ingdirect.com .
By Expert Author: Muna wa Wanjiru
Article Source: http://www.articlesphere.com/
วันศุกร์ที่ 7 พฤศจิกายน พ.ศ. 2551
Beware of 'Bait and Switch'
Beware of 'Bait and Switch'
Be cautious with GFE's (Good Faith Estimates) handed out by banks, loan officers, and other lenders. Some are written in "less than" Good Faith.
Borrowing money to buy a home or refinancing a home involves fees. There is a surprising difference in fees between various lenders. To quickly try to win your business, some lenders will present you attractive GFE's, with very low fees. But weeks later, when you're approaching closing time, they pull the "bait and switch," sneaking in hidden fees and extras. By then of course, you've invested lots of time and energy into the process.
Based on two drastically different experiences I've been through in the past 4 years, I've learned there are at least a few ways to increase your chances of finding a reputable lender from the get-go.
Three years ago when I sought a home loan, I went to the internet and typed in "compare lenders" into Google. Among the results, I clicked a large, well-known lender we've all seen on TV, which took me to a page where I entered my loan requirements, etc. Within an hour, I was besieged with phone calls and emails, and I went with a lender who emailed me a very attractive-looking (low) GFE. Long-story-short, it kept coming back to me with more and more lines and fees on it. A month later (close to closing time) my original GFE was inflated with 70% more "fees." It was a nightmare.
Six months ago, however, when I refinanced my home, I tightened down my search criteria, entering "compare lenders, IDAHO," which brought me to a similar form as before (at compareidaholenders.com), but the lenders presented were all local. I ended up meeting face to face with one who lived in my town, whose GFE appeared complete, but reasonable. She even told me the GFE is an estimate and it may change, but only slightly. About three weeks later I closed on the refinance, and the GFE was $12 off -- in my favor!
So, lessoned learned:
1. Get at least 3 GFE's, from various lenders.
2. Remember what dad always said: "If it sounds to good to be true, it probably is."
3. Go local.
By Expert Author: Michael Little
Article Source: http://www.articlesphere.com/
Be cautious with GFE's (Good Faith Estimates) handed out by banks, loan officers, and other lenders. Some are written in "less than" Good Faith.
Borrowing money to buy a home or refinancing a home involves fees. There is a surprising difference in fees between various lenders. To quickly try to win your business, some lenders will present you attractive GFE's, with very low fees. But weeks later, when you're approaching closing time, they pull the "bait and switch," sneaking in hidden fees and extras. By then of course, you've invested lots of time and energy into the process.
Based on two drastically different experiences I've been through in the past 4 years, I've learned there are at least a few ways to increase your chances of finding a reputable lender from the get-go.
Three years ago when I sought a home loan, I went to the internet and typed in "compare lenders" into Google. Among the results, I clicked a large, well-known lender we've all seen on TV, which took me to a page where I entered my loan requirements, etc. Within an hour, I was besieged with phone calls and emails, and I went with a lender who emailed me a very attractive-looking (low) GFE. Long-story-short, it kept coming back to me with more and more lines and fees on it. A month later (close to closing time) my original GFE was inflated with 70% more "fees." It was a nightmare.
Six months ago, however, when I refinanced my home, I tightened down my search criteria, entering "compare lenders, IDAHO," which brought me to a similar form as before (at compareidaholenders.com), but the lenders presented were all local. I ended up meeting face to face with one who lived in my town, whose GFE appeared complete, but reasonable. She even told me the GFE is an estimate and it may change, but only slightly. About three weeks later I closed on the refinance, and the GFE was $12 off -- in my favor!
So, lessoned learned:
1. Get at least 3 GFE's, from various lenders.
2. Remember what dad always said: "If it sounds to good to be true, it probably is."
3. Go local.
By Expert Author: Michael Little
Article Source: http://www.articlesphere.com/
Banking: The Power-House Of Economy
Banking: The Power-House Of Economy
With the change in the Indian economy from a manufacturing one, which never really started off, to the service sector, banking as an institution is undergoing a sea change. A larger and larger part of the consumers is increasing on its demand for financial and economic products.
Periodic customization of services and financial products is fast turning in to a norm than a mere hypothesis of financial economy. The Retail banking sector in India is expected to rise at a rate of 30 percent. The major players in the banking industry are concentrating more and more on the Retail in banking.
Most of the banks are accepting the potential of this segment of banking. Further, the banking industry as a whole is witnessing structural upheavals in the regulatory frameworks, securitisation and other aspects of the trade. In fact, more and more stringent NPA norms are expected to be in place by 2004 in order to enable the banking entities successfully adapt to the changing dynamics of modern banking; because the faster one takes on the latest developments, the better he is expected to get the advantages in the present and future.
The Indian banking players are a bit bullish on the Retail front and this thing is not completely unfounded. There are two major reasons behind all this. First, it is now almost undeniable that the attitude of the Indian consumer is changing a lot. It is reflected in a positive deviation in the urban household earnings. The direct consequence of such a change are the consumption patterns, which in turn affects the banking habits of the people. The banking psyche of the Indians is expected be tilted towards the Retail products.
Yet at the same time, India compares very poorly with other global economies which are now going speedily ahead in terms of the spending patterns and trends with the opening up of the world economy under globalisation. For example, while the sum total of all the outstanding Retail loans in Taiwan is around 41 percent of GDP, the same thing in India is hopelessly less than 5 percent.
The comparison with the Western economies is even more staggering and disappointing. Another type of comparison which is quite natural when comparing the global Retail sectors is the use of credit cards across various economies. In this matter also, the potential which still lies to be tapped is proved by the fact that of the total consumer expenditure in the country in 2001, not even 1% was through plastic transactions. While in the US the figure stands at a very promising18 percent mark.
By Expert Author: Addi Vardhaman
Article Source: http://www.articlesphere.com/
With the change in the Indian economy from a manufacturing one, which never really started off, to the service sector, banking as an institution is undergoing a sea change. A larger and larger part of the consumers is increasing on its demand for financial and economic products.
Periodic customization of services and financial products is fast turning in to a norm than a mere hypothesis of financial economy. The Retail banking sector in India is expected to rise at a rate of 30 percent. The major players in the banking industry are concentrating more and more on the Retail in banking.
Most of the banks are accepting the potential of this segment of banking. Further, the banking industry as a whole is witnessing structural upheavals in the regulatory frameworks, securitisation and other aspects of the trade. In fact, more and more stringent NPA norms are expected to be in place by 2004 in order to enable the banking entities successfully adapt to the changing dynamics of modern banking; because the faster one takes on the latest developments, the better he is expected to get the advantages in the present and future.
The Indian banking players are a bit bullish on the Retail front and this thing is not completely unfounded. There are two major reasons behind all this. First, it is now almost undeniable that the attitude of the Indian consumer is changing a lot. It is reflected in a positive deviation in the urban household earnings. The direct consequence of such a change are the consumption patterns, which in turn affects the banking habits of the people. The banking psyche of the Indians is expected be tilted towards the Retail products.
Yet at the same time, India compares very poorly with other global economies which are now going speedily ahead in terms of the spending patterns and trends with the opening up of the world economy under globalisation. For example, while the sum total of all the outstanding Retail loans in Taiwan is around 41 percent of GDP, the same thing in India is hopelessly less than 5 percent.
The comparison with the Western economies is even more staggering and disappointing. Another type of comparison which is quite natural when comparing the global Retail sectors is the use of credit cards across various economies. In this matter also, the potential which still lies to be tapped is proved by the fact that of the total consumer expenditure in the country in 2001, not even 1% was through plastic transactions. While in the US the figure stands at a very promising18 percent mark.
By Expert Author: Addi Vardhaman
Article Source: http://www.articlesphere.com/
Banking: The Cradle Of Capitalism
Banking: The Cradle Of Capitalism
Indian banking system stands on a very sound footing, tracing its roots to the last decades of the 19th century during the British period.
In India the commercial banking includes the scheduled commercial banks and the unscheduled banks. As per the conditions of Banking Regulation Act of India, the banking is “accepting, for the purpose of lending or investment of deposits of money from the public, repayable on demand or otherwise and withdrawable by cheques, draft, order or otherwise."
Moving on the path of modernity, the Indian banking system has now computerised its operations to meet the ever burgeoning requirements of the masses. In fact it was during the mid-eighties that 'software packages' for banking related applications were started. These steps were taken on the recommendations of a committee formed by the RBI to study the future of Indian banking industry.
The Indian banking sector got a push to move ahead on the path of technology-enabled services by the entry of private and foreign banks in the market. So most of the banks are now using the latest technology in order to stay afloat in the market. Outsourcing of IT services has enabled the banks to avail the status of 'Facilities Management'. Many banking institutions are now taking the help of Business Process Management in order to gain their profits on the front of investment. Services like Customer Relationship Management are being proactively used to increase the quotient of employee productivity.
In India, in addition to their conventional work areas, the banks are allowed to engage in certain ancillary activities. The banks' relationship with the masses is mainly regarding receiving deposits and lending funds. Transfer of money in the domestic and foreign domains is the new area of growth. In the banking spheres it is called 'remittance business'. In fact the foreign exchange business is a part and parcel of this remittance system.
Negotiable Instruments act 1881 is the law which governs the banking process in India. Deriving from the contents of this act, the banking activities may be summarised as:
1. Receiving deposit from the common public
2. Lending out funds to the public
3. Transferring funds from place to place in the form of remittances
4. Perform the tasks of trustees and intermediaries
5. Safe-keepers of valuables
6. Collection activities
7. Helpers in the government business
By Expert Author: Addi Vardhaman
Article Source: http://www.articlesphere.com/
Indian banking system stands on a very sound footing, tracing its roots to the last decades of the 19th century during the British period.
In India the commercial banking includes the scheduled commercial banks and the unscheduled banks. As per the conditions of Banking Regulation Act of India, the banking is “accepting, for the purpose of lending or investment of deposits of money from the public, repayable on demand or otherwise and withdrawable by cheques, draft, order or otherwise."
Moving on the path of modernity, the Indian banking system has now computerised its operations to meet the ever burgeoning requirements of the masses. In fact it was during the mid-eighties that 'software packages' for banking related applications were started. These steps were taken on the recommendations of a committee formed by the RBI to study the future of Indian banking industry.
The Indian banking sector got a push to move ahead on the path of technology-enabled services by the entry of private and foreign banks in the market. So most of the banks are now using the latest technology in order to stay afloat in the market. Outsourcing of IT services has enabled the banks to avail the status of 'Facilities Management'. Many banking institutions are now taking the help of Business Process Management in order to gain their profits on the front of investment. Services like Customer Relationship Management are being proactively used to increase the quotient of employee productivity.
In India, in addition to their conventional work areas, the banks are allowed to engage in certain ancillary activities. The banks' relationship with the masses is mainly regarding receiving deposits and lending funds. Transfer of money in the domestic and foreign domains is the new area of growth. In the banking spheres it is called 'remittance business'. In fact the foreign exchange business is a part and parcel of this remittance system.
Negotiable Instruments act 1881 is the law which governs the banking process in India. Deriving from the contents of this act, the banking activities may be summarised as:
1. Receiving deposit from the common public
2. Lending out funds to the public
3. Transferring funds from place to place in the form of remittances
4. Perform the tasks of trustees and intermediaries
5. Safe-keepers of valuables
6. Collection activities
7. Helpers in the government business
By Expert Author: Addi Vardhaman
Article Source: http://www.articlesphere.com/
It Is All About The Savings Bank Accounts
It Is All About The Savings Bank Accounts
The saving bank account is opened by an individual and is maintained by the credit unions, banks, as well as other financial institutions. The saving accounts reimburse interests on the money which is deposited into the account by its holder. The investment is held into the savings accounts and cannot be spent openly.
The savings bank accounts mainly focus at permitting the account holders set aside one portion of liquid assets like a fraction of the savings method. The savings accounts, which offer better rate of interests to the account owners are preferred, as they allow the savings to accumulate faster. Thus, people should compare the rate of interests that are offered by assorted financial institutions, banks and so on in order to find appropriate savings accounts providing best interest rates.
The exclusive objective of establishing savings accounts is to put aside one portion of income which will be proven quite useful at the time of emergencies. Thriving savings accounts reflects positively on the credit score of account holders since it establishes their advanced money management expertise to the lenders.
There are many types of plans in saving accounts out of which one can choose the best one as per his or her basic convenience and requirements.
* The Offshore Savings Accounts: Such type of saving account is available for people who are staying as well as working abroad. In India, such loans are also knowns as the NRI Saving Bank Accounts. These accounts facilitate the account holders in protecting their hard-earned assets and wealth in both private and commercial manner.
* The Health Savings Accounts: This type of savings accounts is designed in order to help the individuals to make savings for upcoming expenses related to medical expenses without acquiring any taxes and surcharges. In such accounts, the money can only be accessed for medical causes. The health savings account also works as a retirement plan where you earn a good amount of interest over the period of time which can be utilised during the medical requirements.
* The Standard Savings Accounts: This kind of savings account facilitates the holders to have access to his or her money as many time as he or she wants to utilise them. As with this type of account one gets little amount of interest, it is a good start for those who are searching for the perfect savings accounts for them.
Nonetheless, there are few factors that are necessary to consider while choosing an appropriate savings account.
By Expert Author: Addi Vardhaman
Article Source: http://www.articlesphere.com/
The saving bank account is opened by an individual and is maintained by the credit unions, banks, as well as other financial institutions. The saving accounts reimburse interests on the money which is deposited into the account by its holder. The investment is held into the savings accounts and cannot be spent openly.
The savings bank accounts mainly focus at permitting the account holders set aside one portion of liquid assets like a fraction of the savings method. The savings accounts, which offer better rate of interests to the account owners are preferred, as they allow the savings to accumulate faster. Thus, people should compare the rate of interests that are offered by assorted financial institutions, banks and so on in order to find appropriate savings accounts providing best interest rates.
The exclusive objective of establishing savings accounts is to put aside one portion of income which will be proven quite useful at the time of emergencies. Thriving savings accounts reflects positively on the credit score of account holders since it establishes their advanced money management expertise to the lenders.
There are many types of plans in saving accounts out of which one can choose the best one as per his or her basic convenience and requirements.
* The Offshore Savings Accounts: Such type of saving account is available for people who are staying as well as working abroad. In India, such loans are also knowns as the NRI Saving Bank Accounts. These accounts facilitate the account holders in protecting their hard-earned assets and wealth in both private and commercial manner.
* The Health Savings Accounts: This type of savings accounts is designed in order to help the individuals to make savings for upcoming expenses related to medical expenses without acquiring any taxes and surcharges. In such accounts, the money can only be accessed for medical causes. The health savings account also works as a retirement plan where you earn a good amount of interest over the period of time which can be utilised during the medical requirements.
* The Standard Savings Accounts: This kind of savings account facilitates the holders to have access to his or her money as many time as he or she wants to utilise them. As with this type of account one gets little amount of interest, it is a good start for those who are searching for the perfect savings accounts for them.
Nonetheless, there are few factors that are necessary to consider while choosing an appropriate savings account.
By Expert Author: Addi Vardhaman
Article Source: http://www.articlesphere.com/
On The Way Of Playing On The Same Level
On The Way Of Playing On The Same Level
For years, cooperative banks have been the poor cousins of Indian mainstream banking. But now, with RBI making access to third-party ATMs free to customers of cooperative banks as well, the playing field may have been a bit more leveled the ground.
Recently, RBI issued a circular extending to cooperative banks, the same free access to ATM directive that it issued to commercial banks earlier . Now, customers of Indian cooperative banks, too, can access their bank statement free of charge from third-party banks from April 1, 2008. A year later, they will be able to withdraw cash from ATMs across the country without incurring any transaction cost.
Large cooperative banks such as Saraswat Cooperative Bank and Cosmos Cooperative Bank are already members of shared payment network BANCs, which provides their customers access to thousands of ATMs across India. Osmos Cooperative feels that the directive of the apex bank will remove inhibitions among customers from using third-party ATMs. “It has been a one-way street so far, as customers of other banks have also been using our ATMs,” says Cosmos Cooperative chairman ML Abhyankar.
A large number of cooperative banks that are a part of the National Financial Switch — promoted by an RBI arm. However, the country’s largest bank SBI had refrained from sharing its ATMs with cooperative Banks and NBFC customers on the grounds that it has made large capital investments and now needed to recover these investments by charging appropriately for use of ATMs. RBI’s move might now force SBI to join the fray.
In just over a year from 2008 , bank customers can freely use their ATM cards to withdraw cash from any ATM installed by various commercial banks across the country. For now, they can access any of the 32,000-odd ATMs of various banks free of transaction charge for balance enquiry and transaction. Also with immediate effect, the central bank of Indian banking system has barred banks from charging any fees for customers using their own banks' ATMs and cut charges on withdrawal from third-party ATMs to Rs 20 per transaction.
With RBI issuing a diktat that the cost of using third-party ATMs can't be passed on to consumers, commercial banks will now have to work out some kind of a transfer-pricing structure to defray the costs of those banks that have made huge capital expenditure. ATM service providers say that banks will have to work out the cost of each ATM transaction and net out the charges they have to pay each other based on their mutual network usage.
By Expert Author: Addi Vardhaman
Article Source: http://www.articlesphere.com/
For years, cooperative banks have been the poor cousins of Indian mainstream banking. But now, with RBI making access to third-party ATMs free to customers of cooperative banks as well, the playing field may have been a bit more leveled the ground.
Recently, RBI issued a circular extending to cooperative banks, the same free access to ATM directive that it issued to commercial banks earlier . Now, customers of Indian cooperative banks, too, can access their bank statement free of charge from third-party banks from April 1, 2008. A year later, they will be able to withdraw cash from ATMs across the country without incurring any transaction cost.
Large cooperative banks such as Saraswat Cooperative Bank and Cosmos Cooperative Bank are already members of shared payment network BANCs, which provides their customers access to thousands of ATMs across India. Osmos Cooperative feels that the directive of the apex bank will remove inhibitions among customers from using third-party ATMs. “It has been a one-way street so far, as customers of other banks have also been using our ATMs,” says Cosmos Cooperative chairman ML Abhyankar.
A large number of cooperative banks that are a part of the National Financial Switch — promoted by an RBI arm. However, the country’s largest bank SBI had refrained from sharing its ATMs with cooperative Banks and NBFC customers on the grounds that it has made large capital investments and now needed to recover these investments by charging appropriately for use of ATMs. RBI’s move might now force SBI to join the fray.
In just over a year from 2008 , bank customers can freely use their ATM cards to withdraw cash from any ATM installed by various commercial banks across the country. For now, they can access any of the 32,000-odd ATMs of various banks free of transaction charge for balance enquiry and transaction. Also with immediate effect, the central bank of Indian banking system has barred banks from charging any fees for customers using their own banks' ATMs and cut charges on withdrawal from third-party ATMs to Rs 20 per transaction.
With RBI issuing a diktat that the cost of using third-party ATMs can't be passed on to consumers, commercial banks will now have to work out some kind of a transfer-pricing structure to defray the costs of those banks that have made huge capital expenditure. ATM service providers say that banks will have to work out the cost of each ATM transaction and net out the charges they have to pay each other based on their mutual network usage.
By Expert Author: Addi Vardhaman
Article Source: http://www.articlesphere.com/
The 10 Movers and Shakers in Turkey's Banking Sector
The 10 Movers and Shakers in Turkey's Banking Sector
In Turkey there are many sectors active and dynamic and the banking sector is one of them. The dynamism of the banking sector is a result of the lifting of certain restrictions that regulate it in the 1980s, as well as the liberalization of interest and foreign exchange and the entry of more foreign banks into the foray.
Around 80% of the country’s gross domestic product (GDP) is contributed by the banking sector.
There are 51 banks in Turkey, both private and state, which are the ten biggest players in the country’s banking industry? In no particular order, they are:
Akbank TAS
One of the most profitable banks of Turkey is Akbank TAS. Founded in 1948 and based in Istanbul, Akbank posted revenues of YTL2.525 million in 2007. Alone, it has 658 branches in Turkey which are managed by 13 regional directorates. The bank has a presence in Germany, in Malta and in the Netherlands. It works in close partnership with Citigroup.
Denizbank AS
In the past, Denizbank AS was once a state-owned bank that was established to support Turkey’s maritime industries. In 1997 Zorlu Holdings has acquired Denizbank and under the umbrella of Zorlu Holdings, it became one of the largest banks in Turkey, with 244 local branches and an international presence. Dexia bought Denizbank from Zorlu Holdings in 2006, and it has a total asset of USD18.647 billion as of 2007.
Finansbank AS
A bank that is mostly owned by the Finansbank is one of the banks in Turkey that has the biggest network of branches locally and internationally. Finansbank has approximately 400 branches in Turkey and in many countries it has offices such as Ireland, Switzerland, Belgium, Romania, Bahrain, Russia, the Netherlands, Germany and France. Outside of Turkey, Finansbank is known as the Credit Europe Bank.
Oyak Bank
Oyak Bank started out as the Turkish branch of the First National Bank of Boston in 1984. Shareholders has changed variously in the time, it eventually became the Oyak Bank sometime in 1994. Later Oyak Bank later merged with Sumerbank, and in 2007 ING Group bought Oyakbank. Oyakbank is another one of the big banks in Turkey and owns assets up to USD2.2 billion and has branches all over the world in addition to the 300 local branches in Turkey.
Sekerbank TAS
Sekerbank was founded for a different service: being a cooperative bank for sugar beet growers in Turkey before becoming a fully commercialized bank. In the sugar industry Sekerbank is still active and has expanded its interests to tourism, trade and mining. The 500 branches of the bank extend all over Turkey and the bank has a representative office in Germany.
Turkiye Cumhuriyeti Ziraat Bankasi
Ziraat Bankasi literally means Agriculture Bank in Turkish. Ziraat Bankasi is one of the oldest banks in Turkey established in the territory that is now the country of Serbia when it was still part of the Ottoman Empire in 1863 and it is a state-owned bank that was established to protect the interest of farmers against usurers who charge high interest for loans.
Turkiye Finans Katilim Bankasi AS
In 2005 Anadolu Finans Kurumu AS of the Boydak Group and the Family Finans Kurumu AS of the Ulker Group has merged and Turkiye Finans is the result of this merger. Both the Boydak Group and the Ulker Group are leading industrial companies in Turkey.
Turkiye Garanti Bankasi
One of the largest privately owned banks in Turkey is Turkiye Garanti Bankasi, or simply Garanti Bank. In 2006, Its assets amount to around USD36 billion. Garanti Bankasi specializes in foreign trade and financing, and has a network of 428 domestic branches as well as offices in Luxembourg, Geneva, Malta, Northern Cyprus, Dusseldorf, London and Moscow. Dogus Group owns Garanti Bankasi with General electric.
Turkish Bank
The Turkish Bank is one of oldest bank in Turkey. It began as a “savings box” in Nicosia, Cyprus at the turn of the 1900s before it became a full-fledged savings bank. In 1982, it first entered the banking sector of Turkey and soon became one of the most respected banks in Turkey.
Yapi Kredi Bankasi
The Yapi Kredi Bankasi is the one of the oldest private banks in Turkey. Before its merger with Kocbank AS in 2006, it was known as Yapi ve Kredi Bankasi AS and it was instrumental in the economic turnaround of Turkey in the early 2000s. In 2007, The Banker recognized the institution as the best bank in Turkey.
By Expert Author: Cane Williams
Article Source: http://www.articlesphere.com/
In Turkey there are many sectors active and dynamic and the banking sector is one of them. The dynamism of the banking sector is a result of the lifting of certain restrictions that regulate it in the 1980s, as well as the liberalization of interest and foreign exchange and the entry of more foreign banks into the foray.
Around 80% of the country’s gross domestic product (GDP) is contributed by the banking sector.
There are 51 banks in Turkey, both private and state, which are the ten biggest players in the country’s banking industry? In no particular order, they are:
Akbank TAS
One of the most profitable banks of Turkey is Akbank TAS. Founded in 1948 and based in Istanbul, Akbank posted revenues of YTL2.525 million in 2007. Alone, it has 658 branches in Turkey which are managed by 13 regional directorates. The bank has a presence in Germany, in Malta and in the Netherlands. It works in close partnership with Citigroup.
Denizbank AS
In the past, Denizbank AS was once a state-owned bank that was established to support Turkey’s maritime industries. In 1997 Zorlu Holdings has acquired Denizbank and under the umbrella of Zorlu Holdings, it became one of the largest banks in Turkey, with 244 local branches and an international presence. Dexia bought Denizbank from Zorlu Holdings in 2006, and it has a total asset of USD18.647 billion as of 2007.
Finansbank AS
A bank that is mostly owned by the Finansbank is one of the banks in Turkey that has the biggest network of branches locally and internationally. Finansbank has approximately 400 branches in Turkey and in many countries it has offices such as Ireland, Switzerland, Belgium, Romania, Bahrain, Russia, the Netherlands, Germany and France. Outside of Turkey, Finansbank is known as the Credit Europe Bank.
Oyak Bank
Oyak Bank started out as the Turkish branch of the First National Bank of Boston in 1984. Shareholders has changed variously in the time, it eventually became the Oyak Bank sometime in 1994. Later Oyak Bank later merged with Sumerbank, and in 2007 ING Group bought Oyakbank. Oyakbank is another one of the big banks in Turkey and owns assets up to USD2.2 billion and has branches all over the world in addition to the 300 local branches in Turkey.
Sekerbank TAS
Sekerbank was founded for a different service: being a cooperative bank for sugar beet growers in Turkey before becoming a fully commercialized bank. In the sugar industry Sekerbank is still active and has expanded its interests to tourism, trade and mining. The 500 branches of the bank extend all over Turkey and the bank has a representative office in Germany.
Turkiye Cumhuriyeti Ziraat Bankasi
Ziraat Bankasi literally means Agriculture Bank in Turkish. Ziraat Bankasi is one of the oldest banks in Turkey established in the territory that is now the country of Serbia when it was still part of the Ottoman Empire in 1863 and it is a state-owned bank that was established to protect the interest of farmers against usurers who charge high interest for loans.
Turkiye Finans Katilim Bankasi AS
In 2005 Anadolu Finans Kurumu AS of the Boydak Group and the Family Finans Kurumu AS of the Ulker Group has merged and Turkiye Finans is the result of this merger. Both the Boydak Group and the Ulker Group are leading industrial companies in Turkey.
Turkiye Garanti Bankasi
One of the largest privately owned banks in Turkey is Turkiye Garanti Bankasi, or simply Garanti Bank. In 2006, Its assets amount to around USD36 billion. Garanti Bankasi specializes in foreign trade and financing, and has a network of 428 domestic branches as well as offices in Luxembourg, Geneva, Malta, Northern Cyprus, Dusseldorf, London and Moscow. Dogus Group owns Garanti Bankasi with General electric.
Turkish Bank
The Turkish Bank is one of oldest bank in Turkey. It began as a “savings box” in Nicosia, Cyprus at the turn of the 1900s before it became a full-fledged savings bank. In 1982, it first entered the banking sector of Turkey and soon became one of the most respected banks in Turkey.
Yapi Kredi Bankasi
The Yapi Kredi Bankasi is the one of the oldest private banks in Turkey. Before its merger with Kocbank AS in 2006, it was known as Yapi ve Kredi Bankasi AS and it was instrumental in the economic turnaround of Turkey in the early 2000s. In 2007, The Banker recognized the institution as the best bank in Turkey.
By Expert Author: Cane Williams
Article Source: http://www.articlesphere.com/
Its Easy to Transfer Funds with Internet Banking
Its Easy to Transfer Funds with Internet Banking
Internet banking offers consumers the ability to transfer funds between their accounts. This is an important service as the world becomes a busier place. There are many places people want to transfer money and many reasons to do so.
People often want to transfer money from one account to another. For instance, they may want to transfer funds from their traditional account to their internet banking account. This could be a means of getting money into the account they normally use to pay bills.
Another use of internet banking to transfer funds is to move money from checking accounts to savings accounts. Money can be transferred from investment accounts as well. Any accounts you have can be accessed through internet banking to do this.
They also may want to transfer money from an account in one location to an account in another. This would be useful for someone who lives a bicoastal existence for example. When they are spending part of the year on the East Coast, they can have their money in an East Coast bank. Then, they put it in the West Coast bank while they live there.
This can be done through internet banking by using a traditional bank with internet banking capabilities. You can send the money to your other account almost instantly by using your keyboard and mouse. In fact, if you do it often and have it set up, you might only need your mouse once you get logged on.
Another reason to use internet banking accounts to transfer funds is to send money to someone else's account. This could be done to help someone in your family. For instance, you might get a call from your daughter, a young adult. She may need money to cover an emergency car repair so that she can get to work. With internet banking funds transfer, you can have the money in her account in no time.
Some people contract jobs from out-of-country workers. These people need some way to send payment to their workers. Internet banking funds transfers allow them to put the workers' paychecks into their accounts without hassle.
Overseas products are often imported by businesses or even, on a smaller scale, by individuals. Internet banking provides a means to carry out these purchases by means of funds transfers.
To transfer money to another of your accounts, you can log onto your internet banking website. There should be a tab for "funds transfer." Click on this and you will be given options. Usually, you will set up the different financial establishments where you have accounts. Then they will be ready if and when you want to transfer funds.
When you want to send money to another person's account, there is usually a different procedure to do this. You may have a different tab to select, such as "pay person." This will help you set up the funds transfer to another person's account through internet banking. In either case, you can set it up for one time only, or for recurring transfers. This is handy if you have an elderly relative on a fixed income that always needs help.
Using internet banking to accomplish funds transfers is an effective way to approach many problems. If you are ever wondering how to get money from one place to another, log on to your internet banking site and check out funds transfer details.
By Expert Author: Terry Detty
Article Source: http://www.articlesphere.com/
Internet banking offers consumers the ability to transfer funds between their accounts. This is an important service as the world becomes a busier place. There are many places people want to transfer money and many reasons to do so.
People often want to transfer money from one account to another. For instance, they may want to transfer funds from their traditional account to their internet banking account. This could be a means of getting money into the account they normally use to pay bills.
Another use of internet banking to transfer funds is to move money from checking accounts to savings accounts. Money can be transferred from investment accounts as well. Any accounts you have can be accessed through internet banking to do this.
They also may want to transfer money from an account in one location to an account in another. This would be useful for someone who lives a bicoastal existence for example. When they are spending part of the year on the East Coast, they can have their money in an East Coast bank. Then, they put it in the West Coast bank while they live there.
This can be done through internet banking by using a traditional bank with internet banking capabilities. You can send the money to your other account almost instantly by using your keyboard and mouse. In fact, if you do it often and have it set up, you might only need your mouse once you get logged on.
Another reason to use internet banking accounts to transfer funds is to send money to someone else's account. This could be done to help someone in your family. For instance, you might get a call from your daughter, a young adult. She may need money to cover an emergency car repair so that she can get to work. With internet banking funds transfer, you can have the money in her account in no time.
Some people contract jobs from out-of-country workers. These people need some way to send payment to their workers. Internet banking funds transfers allow them to put the workers' paychecks into their accounts without hassle.
Overseas products are often imported by businesses or even, on a smaller scale, by individuals. Internet banking provides a means to carry out these purchases by means of funds transfers.
To transfer money to another of your accounts, you can log onto your internet banking website. There should be a tab for "funds transfer." Click on this and you will be given options. Usually, you will set up the different financial establishments where you have accounts. Then they will be ready if and when you want to transfer funds.
When you want to send money to another person's account, there is usually a different procedure to do this. You may have a different tab to select, such as "pay person." This will help you set up the funds transfer to another person's account through internet banking. In either case, you can set it up for one time only, or for recurring transfers. This is handy if you have an elderly relative on a fixed income that always needs help.
Using internet banking to accomplish funds transfers is an effective way to approach many problems. If you are ever wondering how to get money from one place to another, log on to your internet banking site and check out funds transfer details.
By Expert Author: Terry Detty
Article Source: http://www.articlesphere.com/
5 Tips To Make Your Online Banking Transaction Safe
5 Tips To Make Your Online Banking Transaction Safe
Banking is more sensitive business than the other. The online banking makes it more sensitive because all the information and financial transactions take place online.
Despite of SSL security and other security measures there are many frauds reported due to fault at the customer end by disclosing the personal details via e-mail or on the website so security of database or personal and banking details are most important. If you have opened an online account than you must have to see the bank website thoroughly because there will be a chances to have similar types of website. Please make sure that the website get secured with SSL security certification symbol.
There are some points for the customer to perform the safer transaction in online banking.
1. Once you open an online banking account either personal or current business account than you must get the details by mail like your account number, customer identification number, online access username and password as well as ATM card PIN number etc. You can get all the details in sealed enveloped by post so you must keep all the details in the safer place. Please do not disclosed to anybody
2. Online banking business is based on SSL security and Java Script. All transaction you made or all information you feed online will convert into an encryption so there are nil chances to get an access on the customer information.
3. Another most important consideration is do not disclose a your login details and password. It is most important to change your password every time. Please also make sure that un-tick login details and password remember request from the computer. If you are not able to perform such task on other PC than there may be a chances for someone to access your account.
4. You must have to monitor your online banking account carefully. If you find any unknown transaction to other account than you can immediately call to the customer care department for further scrutiny.
5. It is most important for you to put the login details at a safer place.
The online banking is safe till you cant disclosed or make sure to share your personal details to other or through e-mail or online. Once customer get smarter to manage online account, it makes all online banking transaction safer.
By Expert Author: Gary Zivkovich
Article Source: http://www.articlesphere.com/
Banking is more sensitive business than the other. The online banking makes it more sensitive because all the information and financial transactions take place online.
Despite of SSL security and other security measures there are many frauds reported due to fault at the customer end by disclosing the personal details via e-mail or on the website so security of database or personal and banking details are most important. If you have opened an online account than you must have to see the bank website thoroughly because there will be a chances to have similar types of website. Please make sure that the website get secured with SSL security certification symbol.
There are some points for the customer to perform the safer transaction in online banking.
1. Once you open an online banking account either personal or current business account than you must get the details by mail like your account number, customer identification number, online access username and password as well as ATM card PIN number etc. You can get all the details in sealed enveloped by post so you must keep all the details in the safer place. Please do not disclosed to anybody
2. Online banking business is based on SSL security and Java Script. All transaction you made or all information you feed online will convert into an encryption so there are nil chances to get an access on the customer information.
3. Another most important consideration is do not disclose a your login details and password. It is most important to change your password every time. Please also make sure that un-tick login details and password remember request from the computer. If you are not able to perform such task on other PC than there may be a chances for someone to access your account.
4. You must have to monitor your online banking account carefully. If you find any unknown transaction to other account than you can immediately call to the customer care department for further scrutiny.
5. It is most important for you to put the login details at a safer place.
The online banking is safe till you cant disclosed or make sure to share your personal details to other or through e-mail or online. Once customer get smarter to manage online account, it makes all online banking transaction safer.
By Expert Author: Gary Zivkovich
Article Source: http://www.articlesphere.com/
Advantages Of Banking
Advantages Of Banking
Bank is a financial institution whose primary activity is to act as a payment agents for customers, and to borrow, lend, and, in all modern banking systems, create money. The banking industry is a highly regulated industry with detailed and focused regulators.
Banks safeguards the money and valuables of the people. They also provide loans, credit and payment services like checking accounts, paying cheques drawn by customers on the bank, and collecting cheques deposited to customer’s current account. Banks also enable payments method like telegraphic transfer and ATM.
Banks provide a valuable service above and beyond just our basic banking accounts, and our economy would not be able to function correctly without them. Banks charge some nominal fee with the every service they provided to their customers. Banks are widely available at each and every place, and they are the first option that comes to mind when dealing with finances. But due to extensive use of internet the scenario is getting changed.
Now a day’s online banking is getting very popular. Online banking makes things extremely convenient for people and saves their precious time. It allows you to quickly manage your bank account and see where your balance is. Reputed banks have introduced their sites which are strictly devoted to explaining the measures they employ to protect you and your bank account from internet hackers.
A large number of national and statewide banks are offering online banking services to their customers. One can now enjoy the benefit of paying the bill online. Most banks offer online banking free of charge.
By Expert Author: William Black
Article Source: http://www.articlesphere.com/
Bank is a financial institution whose primary activity is to act as a payment agents for customers, and to borrow, lend, and, in all modern banking systems, create money. The banking industry is a highly regulated industry with detailed and focused regulators.
Banks safeguards the money and valuables of the people. They also provide loans, credit and payment services like checking accounts, paying cheques drawn by customers on the bank, and collecting cheques deposited to customer’s current account. Banks also enable payments method like telegraphic transfer and ATM.
Banks provide a valuable service above and beyond just our basic banking accounts, and our economy would not be able to function correctly without them. Banks charge some nominal fee with the every service they provided to their customers. Banks are widely available at each and every place, and they are the first option that comes to mind when dealing with finances. But due to extensive use of internet the scenario is getting changed.
Now a day’s online banking is getting very popular. Online banking makes things extremely convenient for people and saves their precious time. It allows you to quickly manage your bank account and see where your balance is. Reputed banks have introduced their sites which are strictly devoted to explaining the measures they employ to protect you and your bank account from internet hackers.
A large number of national and statewide banks are offering online banking services to their customers. One can now enjoy the benefit of paying the bill online. Most banks offer online banking free of charge.
By Expert Author: William Black
Article Source: http://www.articlesphere.com/
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