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lifesobeautiful · 2 years

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How to Trade Forex

Some years ago, Forex trading sounded like rocket science. It was the preserve of a few people who were daring enough to try it. However, today, things have changed thanks to technology. Many ordinary people, micro-businesses, and big companies like banks have learned how to trade Forex and are doing it successfully.

You, too, can learn FX trading and become a successful Forex trader. When trading Forex, you combine knowledge, skills, and a proven Forex trading strategy. It’s also good to use a solid Forex trading system. So, you cannot become successful in this business overnight. Still, you will eventually succeed if you are willing to put in some hard work.

You should know some things before you start trading Forex. There are also things you should do as you continue trading. The Forex industry is ever-evolving, and you should therefore keep yourself up-to-date so that your business can thrive. In this article, I’ll explain how to trade Forex. Let’s dive right in.

How to trade Forex – What’s Covered?

Understand Basic Forex Trading Terms

What is Forex Trading?

Forex Market

Popular currencies used in the Forex Markets

Forex Market Jargon

Exchange rate

Currency pair

Base currency

Quote currency

Spread

Pips

Trading capital

Forex order

FX charts

Taking a trading position

Margin rate

Leverage

Forex broker

Analyzing the Forex markets

Fundamental market analysis

Technical market analysis

Start trading Forex

Get a fast computer

High internet speed

Look for a Forex broker

Open a demo account

Open a live account

Choose a currency pair to trade with

Analyze the market

Read the quote

Pick your position

Forex trading example

Forex trading tutorial

Other Forex trading strategies

Day trading

Trend trading

Swing trading

Scalping

Develop a Forex trading plan

Psychology of trading

Frequently asked questions

Conclusion

Understand Basic Forex Trading Terms

The first step of trading Forex is to understand the basic terms used in this business. Once you know these terms, then you will be on your way to successful Forex trading. Here are some basic terms that you should understand:

What is Forex Trading?

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Forex (FX) stands for Foreign Exchange. It is trading/exchanging one currency for another. For instance, if you have dollars and require Euros, you can swap them at the bank or FX bureau. The bank will exchange the dollar for the Euro based on the current FX exchange rate. The bank ensures that it makes some profit from selling currencies.

Forex Market

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The Foreign exchange market is an online platform where traders from all over the globe meet to trade foreign currencies. Currencies trade involves buying and selling of different currencies. The FX market sets the rates/prices of all trading currencies depending on the market forces. An FX trader’s aim is just like any other trader’s: to make a profit by buying one currency at a low price and selling it at a high price.

Popular currencies used in the Forex Markets

Photo: bigbangforex.com

You will find almost all the world currencies in the foreign exchange market and other financial markets. However, the most popular currencies are the U.S. Dollar, Japanese Yen, Euro, and British Pound Sterling. The New Zealand Dollar, Canadian Dollar, Australian Dollar, and Swiss France are also popular currencies. If you want to trade successfully, go for the most Forex traded currencies.

Forex Market Jargon

The next thing you should understand before trading Forex is the jargon used commonly in the Forex business. Once you understand the jargon, you can apply it when trading. Here is the common terminology used in the FX market:

① Exchange rate

The exchange rate is the amount of money you can buy or sell one currency for another. For instance, if the exchange rate between the Japanese yen (JPY) and US dollar (USD) is 1 dollar per 120 yen, it means that if you have 120 yen, you can exchange it for 1 U.S dollar in the FX market.

② Currency pair

FX currencies are usually traded in pairs. For instance, you can trade these Forex pairs of currencies; USD/CHF, GBP/USD, USD/JPY, or EUR/USD. As you can see, each currency is abbreviated using three letters, and there is a slash in between them. GBP/USD refers to the Great Britain Pound US Dollar currency pair.

③ Base currency

In the example of GBP/USD, GBP is the first currency in the pair, and it’s called the base currency. So, if today GBP/USD is trading at 1.38, it means that you need 1.38 USD to buy one Great Britain Sterling Pound.

④ Quote currency

When you look at a currency pair like GBP/USD, the USD is the quote currency or counter currency. So, the quote or counter currency is the second currency in a Forex pair. For example, if the quote for USD/EUR is 0.7747, it means that the EUR USD exchange rate is 0.7747. It means you can buy 0.7747 Euros for US$1.

⑤ Spread

If you examine the quoted price for any currency pair, you’ll notice that there is some difference between the buying and selling price. The difference between the prices is known as the spread. Any changes in the spread cause small price movements known as pips.

⑥ Pips

Pips stand for ‘price interest point’ or ‘percentage in point.’ Pips is very important as you trade Forex. Pips represents the tiny change in a particular currency pair. You can measure it in terms of the underlying currency or in terms of the quote. Pips helps you to calculate your profits and losses.

For example, if the quote of USD/EUR is 0.7747. You can buy 0.7747 euros for $1. If there is a change in the market and this quote increases by one-pip to 0.7748, the USD will rise by pips 0.0001. As a result, you can buy a few more euros.

⑦ Trading capital

Before you start foreign exchange trading, you should decide how much money you would like to invest. Once you have decided, you deposit your trading capital with your chosen broker. You can start trading on your chosen platform with as little as $10. However, investing very little trading capital may not give you good returns.

On the other hand, you should not invest more than you can afford to lose. Remember that the FX market is unpredictable. Although most Forex traders can make loads of profit, they also expect to make some losses now and then.

⑧ Forex Order

You can give instructions to your FX broker to carry out a transaction on your behalf in the currency markets. For example, you could order your broker to buy 200,000 GBP versus the US Dollar at the current currency markets rates. You can give the order through your broker’s Forex trading platform.

⑨ FX Charts

In Forex trade, a chart (price chart) is the visual representation of the price of a currency pair over a given period. It shows you the pair’s trading activity during one trading period. The trading activity could be one week, a day, six hours, ten minutes, etc.

A chart helps you see Forex trading volume, Forex derivatives, random price changes of a currency pair, tendencies, patterns, and movement. It thus enables you to assess probability and manage risk.

⑩ Taking a Trading position

Taking a trading position as you trade currencies is choosing the way you hope/predict to make a profit. You can either take a buying position or a selling position. The position you take could be unprofitable or profitable depending on how the market prices move. You make a loss if the prices move against you and a profit if they move in your favor.

⑪ Margin rate

The margin rate is the amount of cash you are required to deposit so that you open a trade. The margin rate is normally expressed as a percentage of the total value of the position. In some countries like the UK, the margin rate starts at about 3.3% for the leading pairs of Forex currencies.

⑫ Leverage

Leverage allows you to control larger trading positions with a small number of your actual trading funds. For example, 50:1 leverage means that $1 in your trading account could control a trading position that’s worth $50. So, leverage magnifies potential losses and potential profits depending on the degree of leverage you use.

⑬ Forex Broker

A broker is a firm that links traders with the FX market or stock market. When you start trading FX, you have to open an account with a Forex broker. The broker will then give you a platform where you can carry out your Forex trades.

There are numerous reputable online Forex brokers platforms where you can perform your Forex trades. It would help if you did your research so that you could choose the best. Most Forex brokers make money by charging you a fee for using their platform. The commission charged may vary from one broker to the other.

Read about the 5 Best Forex Brokers here.

Analyzing the Forex markets

In Forex trade, you should not trade using emotions. You should instead analyze the market before making a move. When you analyze the market, you will make informed trading decisions. Below are the two market analyses methods you could use:

① Fundamental market analysis

Fundamental analysis helps you to determine the actual or fair market value of a stock. In this method, you look for a stock trading lower or higher than its actual value. If you find that the stock’s fair market value is higher than its market price, you can buy it because, according to you, the stock is undervalued. In forex, you use fundamental analysis to look at the news that will impact the currency movement. Popular news includes non-farm payroll, central bank meetings which can affect their decision on the country’s interest rate and such.

② Technical market analysis

In technical analysis, you overlook the fundamentals. You study the stock’s historical price trends to forecast how the stock will perform soon. You can check the stock’s historical patterns and trends on charts. You might identify trading opportunities by the time you finish your technical analysis. The same goes for forex trading, you study the technicals of the market, with chart patterns, price action and indicators to help determine the direction of the market.

How to Start Trading Forex

Now that you know what Forex trading entails, it’s time to start retail trading. It may take time to understand most of the things about Forex trade. Every day in the Forex market is a learning process. So, let’s start trading.

1. Get a fast computer

You require a computer or tablet to trade FX. The computer should be reasonably fast, and it should have good storage space. The screen should be big enough to accommodate your charts. It’s not necessary to have a gaming computer, any model that allows fast streaming on the internet is good enough to run the trading platforms regardless if the platform is online or via a software.

2. High internet speed

It would help if you also had reliable and high internet speed. You see, currency prices change quickly during trading. So, you have to quickly decide when and where to buy or sell in the FX market. Slow internet can impact your foreign exchange transaction negatively.

3. Look for a Forex Broker

As mentioned earlier, in FX trading, you buy and sell currencies. You trade Forex through an online platform provided by a FX broker. It would help if you vetted several brokers before picking one. A good broker should be of good reputation with traders. You can find out their reputation by looking at reviews online.

The broker should also have been in the business for an extended period. The necessary authorities should also regulate them in their country. Finally, the broker should segregate clients’ money from its own money. After all, you want someone you can trust with your money, right?

4. Open a Demo Account

You can open a demo account once you have chosen the broker and they have accepted you as their client. Most reputable brokers provide their clients with demo accounts. A demo account is an account that you use to practice trading. You don’t fund the account with real money; instead, the broker provides virtual currency that you can use to practice trading.

The demo account works like the live account; the only difference is that the money you trade with is not real. You can practice using the demo account for as long as you wish. This is the time to put all the Forex knowledge we mentioned earlier into use.

You will meet the Forex jargon and learn other things as you trade using the demo account on the trading platform you have chosen. The good thing is that you have nothing to lose when dealing with a demo account.

5. Open a Live Account

After practicing using the demo account, you can open a live Forex trading account on the same trading platform. A live account is an account where you deposit real money to start live trading. You can fund your Forex accounts through debit card, bank wire transfer, PayPal, Skrill, etc. It all depends on the methods that your broker accepts.

Once you have deposited money into your trading account, you can start trading. It’s good to start trading with small amounts as you test the waters. You can increase your deposit as your confidence grows.

6. Choose a currency pair to trade with

Trading Forex is just like any other kind of trading where you exchange one thing for the other. In the currency market, you exchange one currency for the other. It means that you always trade currency pairs.

For new Forex traders, it’s advisable to start trading with the major currencies or most common Forex pairs. One of the major currency pairs is the EUR/USD. However, one can go for any of the other currency pairs available in the market.

Analyze the market

Before making a move in Forex trading, do some market analysis. As mentioned earlier, you can analyze a currency pair using either technical or fundamental market analysis.

Both market analysis methods are suitable so long as the method you choose helps you speculate the currency price movement and make an informed decision. After you are satisfied with your market analysis, take the following steps:

Read the quote

You’ll notice two prices are shown for currency pairs. For example, a quote for EUR/USD may look like this 0.07173/0.07191. The first rate (1.07173) is the price at which you can sell the currency pair. The second rate (1.07191) is the price at which you can buy the currency pair. The difference between the first and the second rate is called the spread. This is the amount that a dealer will charge you for making the trade.

Pick your position

In Forex trading, you buy one currency and sell another simultaneously. You speculate on downward or upward movements in the market to help you buy or sell currency. There are two ways you can pick your position in the market:

⫸ Pick a sell position: If you plan to sell EUR/USD, it means that you have already speculated that the Euro will weaken against the US Dollar. In other words, the base currency will drop against the quote currency.

⫸ Pick a buy position: In this case, if you plan to buy EUR/USD, it means that according to your speculation, the Euro will strengthen against the US Dollar. In other words, the base currency will increase against the quote currency.

Forex Trading Example

The values of currencies can fall or rise against each other or in response to the world’s political, financial, international, and national events. That is why it is essential to update yourself on what is happening in the world.

In FX trading, you buy and sell two currencies simultaneously. You can therefore speculate on downward or upward market movements. Below is an example of Forex trading:

For example, you decide to trade the pair of EUR/USD, and EUR is trading at 1.13010 and the USD at 1.13020 (1.13010 / 1.13020). So, from market analysis, you learn that the Euro might fall against the USD in a few days. After careful consideration, you feel that the price of EUR/USD will drop, so you resolve to sell euros €20,000.

Since EUR/USD is trading at 1.13010 / 1.13020, the margin rate of this pair is 3.34%. You should therefore deposit 3.34% of the entire position value as the position margin. So, the position margin is $754.94 (3.34% x [€20,000 x 1.13015]). Your trading platform automatically converts the amount of the position margin into your trading account currency. The conversion will be done at the prevailing market conversion rates.

Outcome 1: losing trade

Let’s say you made a wrong prediction, and the price of your currency pair EUR/USD rises to 13800 / 1.13810 in the next two hours. If you feel like the price might continue to rise, you could decide to limit your losses by closing the trade by buying at the current buy price of 1.13810.

In this scenario, the price has moved 80 points against you (1.13810 – 1.13010). So, you lose $160 ([€20,000 x 1.13810] – [€20,000 x1.13010]) = –$160.

Outcome 2: winning trade

You made the right prediction and the price of EUR/USD falls to 1.12510 / 1.12520 in the next two hours. Then, you decide to close the trade by buying at the current buy price of 1.12520.

In this case, the price has moved 49 points in your favor (1.13010 – 1.12520). You will make a profit of $98 ([€20,000 x 1.13010] –[€20,000 x 1.12520]) = $98.

Forex Trading Tutorial

Here, we have Ezekiel Chew, founder of Asia Forex Mentor and a top FX trader who earns over 6 figures per trade and trains bank traders. Ezekiel divulges how to trade FX and what you need to become successful in FX trading. According to Ezekiel, if you want to succeed in trading Forex, there are three key things that you must do:

1. Start by learning how to read the price charts

You’ll understand why the markets move sideways, down, or up when you know how to read price charts. You’ll then see the Forex trading strategy you should apply in that direction. Price action is among the best ways of learning how to read charts. Most professional traders use the price action technique.

2. Trade with a combination of strategies or Forex trading strategy that is proven

If a strategy is proven, it means that it has been back-tested comprehensively. The strategy has consistently proven to work. You will then have the confidence to stick with the strategy even during quiet periods.

3. Use a solid trading system

A solid trading system is defined by the business behind trading and the technical aspects. It’s a properly structured trade that aligns itself with the entire trading plan, and there is proof that it works. Most new traders think that Forex trading is about strategies. To become a successful trader, you must combine strategies and a solid trading system.

Ezekiel’s famous trading mantra is “Win big, lose small.” He abides by this mantra, and so do his students.

“Forex trading is all about understanding the mathematical probability behind every trade and having an edge in the trading game.”

If you lose small and win big, one win can cover three losses or more. You will be a winning trader if you make use of this methodology in the long run.

Check out Ezekiel’s one core program to learn more about his trading method whose focus is on R.O.I and is backed by mathematical probability.

Other Forex Trading Strategies

As stated earlier, learning how to trade FX is a continuous process. There are other trading strategies that you could develop to make your trading more successful. You could use one or more of these strategies in your trading. The strategies are:

① Day Trading

You could decide to become a day trader. In this currency trading strategy, you enter and exit trading positions throughout the day. However, you close your positions by the end of the single trading session. This strategy helps you to avoid the additional risks of holding trading positions overnight.

② Trend Trading

If you are a trend trader, you have to estimate the currency’s fundamental value and look out for its previous results and forecasts during a specified period (trends). After establishing the trend, you can decide to hold a trading position to profit from a particular trend until the trend ends. Trend trading is, therefore, a currency trading strategy that is for a longer-term.

③ Swing Trading

If you are a swing trader, it means that you usually take overnight trading positions. In swing trading, you aim at buying low and selling high. You get into and out of the FX market depending on signals you get from the Forex market.

④ Scalping

In scalping strategy, you become a very active trader. You aim to make profits from any short-term shifts in the market. You, therefore, exit and enter the market fast so that you can get a few pips of profit at a time.

Also read: Best Forex Trading Course

Develop a Forex Trading Plan

There is a saying that ‘failing to plan is planning to fail’. This expression applies to Forex traders too. Any Forex trader worth his salt should develop a trading plan. A plan is a written roadmap showing how to trade. The plan should incorporate any trading strategies you have tested and feel that is working for you.

The plan should also include exit and entry rules, position sizing rules, and risk management rules. Stick to the trading strategy you have picked. Please don’t change the plan unless you want to improve it or feel that it is not helping you make profits.

Developing a trading plan takes time. It could help if you joined a social online trading platform. You could learn a lot from other successful traders on such platforms.

The psychology of trading

Forex trading can be a very emotive business because you can either make profits or losses. However, it would be best if you tried not to trade with emotions. Being able to control your emotions while trading in the financial markets could be the difference between failure and success. There are two emotions you should try to control while trading. These emotions are fear and greed.

Fear: Sometimes, as you trade, the Forex prices can start falling right before your eyes. In such a case, fear can grip you as you start thinking of the losses you are likely to make. You might then close a winning trade prematurely. If you eventually make a loss, you might have a fear of entering the market again.

However, you should control your fears and live to fight another day. Don’t allow one bad day at the Forex market to ruin your entire career.

Greed: At times, greed can get the better of you, especially if you continuously make profits for a given period. In this case, you decide to invest more money in a trade even when all signs indicate that the market will not move in your favor. If the market does not favor you, you end up losing money because of greed.

Frequently Asked Questions

In this part, you’ll find answers to some of the questions asked by those who are interested in Forex trading :

Who is the owner of Forex Market?

No one per se owns the Forex market. It is an open market where buyers and sellers of foreign currency meet to trade. Anyone can trade in this market, including banks, governments, organizations, ordinary Forex traders, etc.

When does the Forex market open?

The online Forex market is open 24/7, 365 days a year.

What is the minimum money I can invest

The minimum amount of money Forex traders can invest depends on the trading platforms of their Forex brokers. Some platforms allow Forex traders to start with as low as $10. However, investing too little may not result in a profitable trade.

What is the maximum amount of money I can invest

Again, there is no maximum amount of money that Forex traders can invest. It all depends on how much they want to invest. However, remember that since the FX market is unpredictable, you should invest only what you can afford to lose.

Conclusion

Now that you know how to trade Forex, you can easily start your trading business. You can trade from any part of the world if you have the necessary market knowledge, skills, techniques, viable strategies, and a solid Forex trading system.

Most of the things explained here may sound strange right now, but you will get to understand them more as you continue to trade. Remember, learning how to trade foreign currency is a continuous process. To be successful as a trader, you should be patient, committed, open-minded, and, most importantly, learn from your successes and mistakes.

As you continue trading, you should develop a trading plan that works for you. You should also not allow emotions like fear and greed to overcome you when trading. Take profits and losses in your stride. With time, you could become one of those Forex traders that rake in unbelievable profits.

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Wells Fargo Banking Reviews: Is Wells Fargo a Good Bank?

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Chase Bank Reviews: Is Chase a Good Bank?

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Wells Fargo Banking Reviews: Is Wells Fargo a Good Bank?

Before heading towards the details, it’s essential to know what do we mean by Wells Fargo. It is the oldest yet innovative financial institution established in 1852 in the United States. It has grown to one of the largest banks offering digital or physical banking services through credit cards and other factors.

Wells Fargo is a top-notch bank known for offering savings account and checking services to people, corporations, and entrepreneurs through wells Fargo advisors like the national bank. Sounds good, right?

Moreover, Wells Fargo bank is an excellent option for people looking for multiple services starting from digital baking, local branch access, different fee waiving options, to an extensive ATM network than many online banks.

The Wells Fargo Bank review focuses on the complete services the bank provides different baking and monthly deposit services, auto loans making it an exclusive choice for customers. Let’s get right into the details!

Wells Fargo Banking Reviews: Topic Overview

Understanding how bank accounts work can be overwhelming at first glance but we’re here to help break it down so that anyone can understand it!

Check out our comprehensive review of Wells Fargo Bank’s services below: -What are the benefits? -How does it compare against other banks? -What are the Pros and Cons -Who is it best for?

Everything you need to know about Wells Fargo Bank in one place. We’ve got the details for you.

What is Wells Fargo?

Wells Fargo ensures a complete range of services: CDs, mortgages, money market accounts, checking accounts, and other personal loans services. However, the banks also include high rates compared to other banks.

What’s more? Surprisingly enough, the bank features a plethora of easeful and convenient services to improve the banking experience. You can get complete access to the account through a branch, online, or over-the-phone services. Many features are present to aid you in managing the money and keeping it secure.

The express business and high-end banking options ensure faster and user-friendly services to customers. The bank also has evolved with time through the robust mobile app and other online offerings. You can effectively find mortgages, loans, and different wealth management options, thereby ensuring reliability.

How does Wells Fargo Account work?

The bank includes the maximum national presence of other banks in the US, mainly when compared to the bank of America. Believe it or not, the bank consists of 13,000 ATMs with exclusive 5,000 branches in Washington DC and 36 different states in the US.

Do you know the mobile app has a rating of 4.8 out of 5 stars, whether it’s Google play store or Apple? The customer service is available almost 24/7. Moreover, you can avail extra features provided to people with portfolio account that are proficient enough to make up, particularly to meet the low APY. The account holders can get the following benefits:

Fee-free personal wallet checking’s with money orders

Discounts on multiple interest rates to set credit lines and personal loans

The people who can reach a balance of $250,000 can get fees waived on overdraft transfers, incoming wires, unlimited options on out-of-network ATM fees, and stop payment options worldwide. Isn’t it a significantly valuable advantage? It’s no more an exception, seriously.

The plus point is that the customers can also access advisors for complete investment guidance and get maximum discounts on opening the Intuitive Investor account. That’s how it works! You will also get credit cards and can look up the credit score whenever needed.

Checking Accounts

When we talk about the Wells Fargo checking account, it includes multiple options with four different versions that require a minimum opening deposit of $25. The bank features an everyday checking account with check-writing and debit card privileges.

Are you getting it? The basic checking account comes with a monthly service fee of $10, which you can only waive if you meet any of the following conditions:

Have a minimum daily balance of $500

Wells Fargo checking accounts with qualifying direct deposits of $500 or more

You have a campus ATM or campus debit card linked

If anyone is the primary account owner

Do you know it’s a digital checking account? The plus point is that the checkless account is ideal for everyone to open, but the $5 is waived only for the account holders aged 13 to 24 years. The account also includes additional perks such as no specific check fee, personal style checks, and even money orders.

Generally, the preferred checking accounts include a $15 monthly service fee. And you know what? The fee is only waived for the clients who fulfill the following requirements:

The person has a home mortgage lined to the account

If they put $10,000 minimum combined in daily direct deposit of the accounts

A person who has $1000 or above in direct deposits period

What’s more? The Wells Fargo checking accounts within Portfolio features multiple relationship advantages to people with different accounts. For instance, they include the following benefits you can avail in any wells Fargo branch:

Bonuses or interest rate

The waived non-account holder network ATM fee

Discounts on personal finance or student loans

24/7 mobile support

Savings Accounts

The bank includes two different savings accounts called Way2Save and Platinum Savings. Generally, the account consists of a $25 minimum initial deposit. Besides this, Way2Save Savings feature at least a $5 fee every month within the Wells Fargo accounts. It becomes waivable if you meet any of these requirements:

It would help if you had a daily balance of $300

create Save As You Go transfer from checking account

Generate automatic transfer of $25 from the account

Get a transfer of $1 on each business day from the account

The primary owner should be 24 years of age

Way2Save gets interested in the exclusive features and even balances like other national banks. It is highly competitive with annual percentage yield and linked Wells Fargo found in different saving accounts. The credit card ensures it is an interest-bearing account.

Another loan from Wells Fargo is the platinum savings accounts that promote credit score and transfer money reliably. The account comes with a $12 monthly service fee which you can only waive by having a minimum daily balance of $3500. The plus point is that the Platinum Savings account will give you a debit card that makes it different from others, and it will provide you a feature to write checks.

Platinum savings is a beneficial interest-bearing account that incorporates different factors to get a bonus rate paired with a portfolio saving account.

What are the Features of Wells Fargo Banking?

Whenever you plan to use this wells Fargo bank, you will get access to a plethora of features to get a convenient everyday checking and saving experience.

The best part is that you can effectively bank in person with about 13,000 ATMs and 6,000 branches. Whether you want to bank online and in-person, this bank offers you exclusive features while on the go. You can effectively send and receive money, get account alerts and pay maximum bills with many more services.

This high-end banking option can analyze the payments, transactions, and account dates to help you get increased financial guidance. All these features are user-friendly and ensure reliable services to the users.

For instance, if you plan to create a recurring payment but don’t have maximum funds in one month to make that payment, the bank will send you alerts. It also ensures you have multiple options to transfer the funds and cover the overall amount.

Other Financial Products Offered

In addition to Wells Fargo, credit cards and other checking accounts also ensure customers’ services with a complete consumer financial protection bureau. The services are:

Personal loans

Student loans

Self-directed trading

Refinance mortgages

Private banking

Business loans

Managed portfolios

Car loans

Financial advisors

Wells Fargo Customer Service

Admittedly, the bank also includes a high-rated and well-established mobile app allowing you to conduct the banking business. All these features work ideally to provide users a premium result, no doubt. The bank will help you reach customer service agents in multiple ways, such as:

The phone is available 24/7

Call on helpline (1-800-869-3557)

Mail

Facebook is available about seven days a week

Twitter is available about seven days a week

A fully-established Help section on the site

How much does Wells Fargo Cost?

Wells Fargo Checkings Accounts

Wells Fargo Checking AccountsMonthly FeesWaiver CriteriaMinimum Deposit AmountEveryday Checking$10Fee waived on $500/mo direct deposit.$25 Clear Access$5 (free for ages 13-24)N/A$25 Preferred$15 $1,000/mo direct deposits$25 Portfolio$30$25,000/mo direct deposit$25

Wells Fargo Savings Accounts

Wells Fargo Savings AccountsMonthly FeesWaiver CriteriaMinimum Deposit AmountWay2Save$5 (free under 18 years old)Save-as-you-go transfer$25 Platinum$12$3,500 daily balance fee waived$25

Who is Wells Fargo Best For?

Who needs Wells Fargo? Generally, wells Fargo works best for customers who desire to get services from a well-established ordinary bank or a huge geographic footprint. It’s ideal for people who require the following services:

Anyone who needs a traditional or online bank in maximum states of the US within Columbia

People who can put minimum balance in the everyday checking or saving account as it will help you avoid the monthly fees

People who want to get access to QuickBooks online or other options for handling financial affairs

And guess what? Wells Fargo is a top-notch bank for people who need both digital banking and local brand access at the same time. You can compare to other national banks, whether online or in-branch services, as the bank offers effective interest rates.

As we know that Wells Fargo’s bank accounts feature different service fees every month. These monthly service fees are only waived if you meet the month’s requirements.

See the difference! So if you are confident enough to meet these requirements, this bank is for you. It’s necessary to weigh the paying fees cost and benefits to know whether the banking options will help you or not. You can also get rid of these fees by getting benefits from the relation by opening multiple accounts.

Wells Fargo Pros and Cons

Let us discuss in detail the pros and cons!

PROS

Incredibly Accessible

With highly accessible features, the bank feature at least 4,900 branches and a network of Wells Fargo ATMs to provide linked Wells Fargo services to the customers. It has 13000 ATMs and is one of the most accessible online banks and in-branch ones in the United States.

Waived monthly fees

There is no exaggeration in saying that the bank has a levy of maintenance fees on different deposit accounts. Still, it also includes multiple ways to avoid the fees, whether it's wells Fargo everyday checking or other overdraft fees for linked Wells Fargo account. Generally, the clients with personal finance can effectively classify as those waivers.

Innovative and different management apps

The money management apps offering wells Fargo home mortgage options are completely secure and beneficial. The bank works with Intuit to ensure a seamless link to allow Wells Fargo customers to share data easily. The bank can also handle all the financial chores without risking the user's account.

CONS

Low-interest rates

The APYs generally have lower interest options at traditional brick-and-mortar banks compared to online parts. Quite simply, the bank offers 0.01%-0.02% on the entire saving method. The savings account includes a monthly fee that means the account will earn an excessive negative amount whenever you want to avoid the charges or if the balance is less than the minimum daily value.

Overdraft fees every time clients overdraw the account.

Do you know the bank costs clients a fee of $35 for the debit card service whenever you overdraw your account? Well, the bank's policy includes three overdrafts every day. What does it mean? Unfortunately, if you make the mistakes three times, it will cost you overdraft fees of $105 in a single day.

Once you sign up for any overdraft protection contract, it will charge you one fee every business day, and the fee amount varies depending on the account type from which you will withdraw the funds.

History of scandals

Lastly, another thing people come across is that many employees get engaged in illegal behaviors, therefore, charging additional money from clients. They were known to open fake accounts with incorrect repossessed autos.

Wells Fargo Compare to other Banks

BankMinimum DepositMonthly FeeSavings APYOverdraftNumber of BranchesWells Fargo$25$100.01%$355,200 branches CitiBank$0$250.04%-0.15%$34over 2,649 branches worldwide PNC Bank$25$250.40%$362,945 Chime$0$00.50% $34N/A

Wells Fargo vs. CitiBank

Many people in the US prefer Wells Fargo because it comes with far more effective domestic offices than Citibank. But wait! Some people might find Citibank’s personal loans and other global credit cards services more beneficial and valuable.

Compared to Wells Fargo, Citibank ensures high-quality daily spending with different withdrawal limits to make the process effortless to waive your fees. Are you getting it? If you require wide-range ATM access globally, Citibank might be a good choice. Moreover, if you desire to visit branches, Wells Fargo is a great choice.

Everyone desires to get one influential checking account, allowing you to access the money effortlessly and quickly. Here the Wells Fargo steps in with quick and easy-to-reach banks and ATMs when compared to Citibank.

The better monthly fees also make Citibank a good option. Choose Citibank if you need a globally active bank or get wells Fargo when you desire to find multiple methods to waive the monthly fees as a college student.

Wells Fargo vs. PNC

Let us compare Wells Fargo with PNC. Wells Fargo comes with an opportunity checking account. It is one of the high-rated compared to PNC. Wells Fargo is available 24 hours a day, whereas PNC has specific timings.

Wells Fargo also offers loans, CDs, and even credit cards for small businesses, where PNC offers different accounts for students. PNC comes with three versions, whereas wells Fargo has a checking and savings account.

The interest rates in wells Fargo are also low and don’t offer CD term lengths compared to PNC. You require a high amount in PNC to avoid monthly fees that are high than in wells Fargo. Therefore, both banks have their characteristics and options to provide users with an exclusive experience.

Wells Fargo vs. Chime

As stated by the consumer financial protection bureau, chime ensures multiples saving benefits compared to Wells Fargo that aids you in bringing maximum of the cash. The plus point is that this Wells Fargo bank includes business hours anytime and whenever required, whereas chime hours are only the lone client support.

Wells Fargo accounts are highly innovative and beneficial in record checking, whereas chime investment account doesn’t include such a feature. Besides this, Wells Fargo costs additional expenses when compared to chime, that’s completely free.

Moreover, Wells Fargo includes a versatile, fully sound-put application compared to chime, a portable record with rapid exchange alarms. It also ensures conventional banking perfectly with the proper banking framework. The chime bank also has no network ATM fee with monetary administrations, which is more effective than Wells Fargo. It’s overall better and can store cash risk-free.

Find out more About Chime Banking Reviews: Is Chime a Good Bank?

Conclusion: Is Wells Fargo a Good Bank?

Have you come across the Wells Fargo reviews? People looking for well-rounded and fully established financial institutions can go well with this bank account. The bank features every type of service, product, and multiple account option you need.

That’s because you can effectively link multiple products and accounts under this institution to get the best banking experience. Any client can open an account online or by visiting a bank branch. You could get an immediate application response if you applied online.

Once you set up the Wells Fargo account online, it will cover the entire banking needs through the mobile app with combined deposit balances. We have made things clear through this wells Fargo bank review.

Wells Fargo FAQs

Is Wells Fargo a good bank?

YES! Like other national banks, it is an influential bank with similar features like branch networks, interest-bearing checking account, checking and savings accounts, low saving rates, and minimum opening deposit.

If you have mortgage loans, personal loans, or other accounts, it’s beneficial to get Wells Fargo as it has experience of several settlements with almost opening 1.5 million unauthorized accounts.

Is it safe to bank with Wells Fargo?

Here’s a big YES! Wells Fargo’s everyday checking is far more effective than others. It offers FDIC insured options per depositor, particularly during a bank failure. Therefore, a Wells Fargo app is beneficial to provide users exclusive online banking services.

The bank employs multiple measures to protect the funds and customers. Many preventive measures include encryption technology, automatic sign-offs, and the most considerable sign-in procedures with card liability protection. It also monitors frauds on any credit card and makes a credit report.

What are the pros and cons of Wells Fargo Savings Account?

Let’s talk about the pros and cons. The biggest advantage is that the bank has 13,000 ATMs and almost 5437 branches around the US. Sounds good, right? You can easily avoid the fees on checking accounts. Moreover, it’s user-friendly with effective overdraft policies and improves the debit and credits flow.

What about the disadvantages? It has low yields on deposits and savings accounts, therefore, accounts for a low annual percentage yield compared to others. It also has a steeper monthly maintenance fee until you maintain any specific balance. The non-wells Fargo ATMs Fee is $2.50.

What bank is better than Wells Fargo?

Chase might be better than wells Fargo particularly when you have a tight budget. But why? Do you know the bank slightly makes itself better when we talk about the fees and saves a significant amount of money on everyday banking?

However, suppose you plan to maximize the savings, wells. In that case, Fargo overcomes chase on the amount you can reliably get in interest without requiring a higher balance in wells Fargo’s bank account.

The post Wells Fargo Banking Reviews: Is Wells Fargo a Good Bank? appeared first on Dumb Little Man.

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Chase Bank Reviews: Is Chase a Good Bank?

It’s no secret that most large national banks offer terrible interest rates and charge ridiculous fees. People go to these banks with the expectation of having a great return from interest rates but end up with dissatisfaction.

There are several banks that can leverage with their services regarding loans, credit cards, saving accounts and can compete with the large national and multinational banks. Among such, Chase bank comes on top with its features and available services for account holders.

Chase bank itself provides generous bonuses for new customers and has been now the option of consolidating loans, your credit cards, and deposits in one place. With a wide range of branches and ATMs, it has covered all types of people whether you’re a business person, college student, or child.

However, is Chase bank really beneficial for all people and how much does it cost? Let’s look into it with its pros and cons and available features through the Chase Bank review.

Chase Bank Reviews: Topic Overview

Understanding how bank accounts work can be overwhelming at first glance but we’re here to help break it down so that anyone can understand it!

Check out our comprehensive review of Chase Bank’s services below: -What are the benefits? -How does it compare against other banks? -What are the Pros and Cons -Who is Chase best for?

Everything you need to know about Chime Bank in one place. We’ve got the details for you.

What is JP Morgan Chase?

JP Morgan Chase is the outcome of the union of many large US banking companies such as J.P. Morgan & Co., Chase Manhattan Bank, Bank One, Washington Mutual, and Bear Stearns.

JP Morgan Chase, in its present structure, is a multinational investment bank and the company providing financial services headquartered in New York City. As of June 2021, JPMorgan Chase is the largest bank in the US and the world’s largest bank by market capitalization.

Chase Bank has also been ranked as the fifth-largest worldwide in terms of consolidated assets, controlling for US$3.684 trillion. Today, it has expanded its territory having 100+ global markets, and holding over 250,000 employees.

Chase Bank has 5,100 physical bank locations across the US and has been proving services in 33 states and over 16000 ATMs. The bank locations in New York, California, Illinois, Texas, and Florida are easily available with complete services.

The bank has a wide range of financial services for people such as personal checking and savings accounts, credit cards auto loans, business and commercial banking, home loans, investment management, prepaid cards and CDs, home equity services. If the bank isn’t available in your nearby location, you can create an account online from anywhere in the US.

How do Chase Checking Account and Savings Accounts work?

Chase Bank provides an extensive list of accounts and services so that customers can have multiple checking and savings accounts, credit cards, certificates of deposit (CDs), and other lending products according to their needs. Customers who have access to multiple Chase products can also enjoy better pricing from the bank and can combine balances to waive fees.

Chase Bank has several checking account options and each account adopts monthly maintenance fees until the account owners meet the measures to waive them. Chase Total Checking account, Chase Premier Plus Checking account, and Chase Sapphire Checking are the most popular checking account.

Let’s see the multiple checking accounts available in the Chase Bank.

Chase Checking Accounts

These three checking accounts are designed for everyone focusing on the common financial need for people so all age groups can open these accounts.

Chase Total Checking account –Customers can deposit $500 or more every month. They can start at least $1,500 as a daily beginning balance or can operate at least $5,000 in eligible linked accounts

Chase Secured Checking account– With the available services, the bank adds a mandatory monthly fee. This account will be best for a basic checking account with overdraft protection.

Chase Premier Plus Checking account– In this account, customers can have an average of at least $15,000 as the initial daily balance in the linked accounts.

The main purpose of these three bank accounts is to help parents teach kids and teens how to control money.

Chase First Banking account- This is a basic parent-owned account for kids 6 years and older. It doesn’t charge any monthly fee.

Chase High School Checking account– It will be the best for kids 13 to 17 years old.

Chase College Checking account- The account doesn’t charge any fees for 5 years during their college years. Students can deposit every month and can maintain an average of at least $5,000 as an ending day balance. It will be the best for college students who are aged 17 to 24 years old.

Chase Sapphire Checking account– Customers can have an average of at least $75,000 as a beginning day balance in the linked accounts.

Chase Private Client Checking account– It requires nothing to waive monthly fees as it is available only to the members of Chase Private Client.

After the checking accounts, Chase Bank also provides two saving accounts for customers. They are the Chase Savings account which includes one interest rate for all balances, and the Chase Premier Savings account that offers higher establishing rates for clients who deposit larger balances.

Those who have a Chase Private Client account can have access to the Chase Private Client Saving account that offers multiple interest rates on the basis of how much amount or balance is in your account. Let’s look into the saving accounts available with Chase Bank.

Chase Savings Accounts

Chase Savings – In this saving account, the customers can deposit at least $300 at the initial daily balance. The bank also provides a monthly autosave balance of at least $25 from a Chase checking account and customers can link this savings account to their Chase College Checking. This will be for the purpose of overdraft protection.

Chase Premier Savings – Account holders can deposit at least $15,000 at the initial daily balance or they can link this account to a Chase Premier Plus and Sapphire checking account separately.

What are the Features of Chase Banking?

Chase Bank offers a pack of features that differentiate it from other banks so let’s consider some of the considering features to decide whether this bank fits your need.

Higher signup bonus

Chase Bank offers a generous amount of bonuses to those who create the account for the first time in Chase. On October 30, 2021, Chase is offering up to $500 for new Chase checking and Chase Saving customers.

New Chase Checking Customers can also get $225 cashback if they create a Chase Total Checking account and make direct deposit transactions with the gifted checking bonus.

New Chase Savings account holders can also get $200 cashback as the bank is offering the savings offer. To be eligible for this cashback facility, you need to deposit $15,000 or more amount within 20 business days since the account opened and need to maintain an average $15,000 balance for 90 days.

Easy to use Chase mobile app and website

These days, digital presence is a need to transact for daily and business purposes, however, all banking app and website doesn’t run smoothly. Whether they lag or end up having complicated or unnecessary designs.

Unlike others, Chase mobile app and website are quick and intuitive to navigate and they offer all the features you can expect from the digital bank. It helps those customers who don’t have time to visit physical bank locations and for those who are away from the physical bank offices.

Avoidable monthly fee

Chase Bank has made it easy for people who don’t make much money or still depend on others in avoiding the monthly fee. Kids or high school students can skip monthly fees in their checking accounts. In Chase College Checking account, the bank facilitates college students receiving direct deposits each month, with no pay amount specified.

Account tiers

Chase Bank offers multiple checking account options that allow you to choose the one that best fits your need and your lifestyle. This helps space and time to grow with Chase over time and upgrade your accounts to premium ones that might cover your future needs without creating the other bank accounts.

How much does Chase Cost?

Chase Bank offers free checking and saving accounts if the account holders are kids and college students. While other national banks try to increase the monthly fee, Chase opens several ways to waive or skip the monthly service fees for daily or premium checking accounts.

Chase Checking Accounts

Let's consider the cost! Is chime expensive? This chime review will help you know the maximum about it. There is no exaggeration in saying that chime is a budget-friendly option with no minimum balance requirement. It works in partnership with Bancorp Bank or Stride bank.

Chase Checking AccountsMonthly FeesWaiver CriteriaMinimum Deposit AmountChase Total Checking$12Electronic deposits of at least $500, or maintain a $1,500 balance at the start of each day, or a combined daily balance of at least $5,000 across your other Chase bank accounts.$0 Chase Secure Banking$4.95N/A$0 Chase Premier Plus Checking$25Average balance of $15,000 across your other Chase bank accounts, or having a Chase mortgage with automatic payments set up.$0 Chase Sapphire Checking$25Need to have an average balance of $75,000 across your other Chase bank accounts.$0 Chase College Checking$6No monthly fee for your first five years in college.$0 Chase High School Checking$0N/A$0

Chase savings accounts

Chase Savings AccountsMonthly FeesWaiver CriteriaMinimum Deposit AmountChase Savings$5Maintain a $300 or more balance at the beginning of each day, or have automatic monthly transferred $25 or more into this account from a Chase checking account, or if a Chase College Checking account has been linked to this account as overdraft protection, or if an account owner is below 18.$25 Chase Premier Savings$25Need to maintain $15,000 or more daily, or Chase Premier Plus Checking or Chase Sapphire Checking account has been linked to this account.$100

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Who is Chase Best For?

Chase Bank can leverage those account holders who want a variety of deposit, investment, and lending options from the financial institutions. The bank is also the best for those who can maintain the minimum daily balance or complete qualifying activities to waive fees.

Thanks to the rewards or cashback features of Chase Bank, people can add their balance for their credit card purchases. Chase also helps grow you with it over time and adds several valuable features if the relationship gets strengthened.

Chase can be the perfect option for those who are listed below.

Residents from New York, California, Florida, and Illinois

Though Chase Bank has extended its territory throughout the world, it best fits people in the US. It can make it easier for people who belong to a brick-and-mortar location.

Existing Chase customers

Incentives are the additional benefit for account holders and Chase has provided the same. The bank allows the mortgage customers to create a Chase Premier Checking account if they’re enrolled in Autoplay with no monthly fee.

Students

As Chase Bank has leveraged while opening current and saving accounts with no monthly fee, students can take much out of it. Students need not worry about being charged service fees to keep their money secured.

Chase Pros and Cons

Though Chase has provided several banking services and leveraged people with lower income, it has also some pros and cons. Let’s know about them.

PROS

Large territory to serve the banking needs.

Chase covers almost 4,900 retail branch locations throughout the US and 16 Chase Bank ATMs. If the branch location or ATM is unavailable in a certain area, people can make transactions through a mobile app or website.

Generous to Wavier Option

Chase has offered several ways for customers to waive a monthly fee. So customers can skip their monthly fees by direct deposit, maintaining a minimum balance, or linking some eligible Chase accounts, depending on your chase bank account.

Chase credit cards with specific purposes

The Chase bank provides 30 credit cards; 24 for individuals and 6 for small businesses. It also offers a wide range of credit card options, depending on the customers’ purposes including cash back, balance transfer, or travel rewards.

CONS

Unavailable Chase branch in some parts of the US

Still, Chase hasn’t covered the US completely. Some states in the US lack Chase branch offices, including Arkansas, Maine, Iowa, and Mississippi.

Minimum daily balance to waive fees

Chase offers one option to waive monthly fees by maintaining a minimum daily balance but balance is not so easy. If your minimum daily balance falls, the bank will charge the monthly fee.

5/24 Policy for credit cards

Chase makes it difficult for Chase credit cards approval through this unwritten rule. If the customers have taken more than 5 new credit cards from any other bank in the past year, Chase will disapprove them if they apply for a credit card in the Chase.

Chase Compare to other Banks

BankMinimum DepositMonthly FeeSavings APYOverdraftNumber of BranchesChase Bank$0$120.01%$345,100 branches CitiBank$0$250.04%-0.15%$34over 2,649 branches worldwide Bank of America$100$0-$120.01% - 0.02%$354,300 worldwide Chime$0$00.50% $34N/A

Chase vs. CitiBank

Though both Chase and CitiBank are top competitors to each other, Chase blows CitiBank out of water in terms of number physical presence. Chase has 5100 branches in 33 states of the US while CitiBank is reserved at 700 branches.

Chase also facilitates customers to waive the monthly fee and if they need to pay, the monthly fees in the saving account are less compared to CitiBank. Unlike CitiBank, there is no limit to making deposits in the Chase Bank for any customer.

Chase vs. Bank of America

Chase doesn’t compel new customers to have any money to open an account while they need to have a minimum balance of $100 to create an account in the Bank of America (BoA). Also, BoA has limited a monthly deposit whereas Chase has kept it limitless.

Customers can largely access the Chase branch in many countries, making a visit to 5100 branches while BoA has fewer branches. Chase also offers the signup bonus which is unavailable in the BoA.

Chase vs. Chime

Chase and Chime both have joined online banking, making the transaction digital but Chase has more to offer. Chase offers a total of 30 credit cards for both individuals and business owners.

Besides, online presence, Chase has a wide network of 5,100 branches and over 16,000 ATMs while Chime lacks a physical presence and Chime’s customers need to use ATMs from other banks.

Find out more About Chime Banking Reviews: Is Chime a Good Bank?

Conclusion: Is Chase a Good Bank?

Chase Bank provides a wide range of banking services or products that mostly meet the individual’s needs. With its welcome bonus is a great facility for new customers and those who are kids and students can greatly leverage the personal banking services from Chase.

Also, low-income earners can waive monthly fees if they can meet the required criteria. Unlike other banks, Chase has expanded its banking network worldwide both physically and online.

So, if think you can avoid the monthly fee, there must be a chase account in your banking gallery.

Chase FAQs

What are the pros and cons of a Chase savings account?

Chase saving account has several advantages such as online and mobile banking, FDIC insurance protection, automatic savings program, and good APY after some years of relationship. But it has also a few disadvantages including only 2 saving accounts compared to Chase’s 8 checking accounts.

What are the advantages of a Linked Chase checking account?

Linked Checking accounts help the customers to waive the monthly fees.

Is Chase bank the worst bank?

No, Chase can be limited to benefit customers who expect higher APY at some point but due to its availability in-branch and ATM is quite satisfactory along with a Signup bonus.

Is Chase better than Bank of America?

Yes, Chase fits better than any other bank including Bank of America, those who need a wide range of physical presence. Customers can also enjoy limitless deposits in the Chase Bank account.

The post Chase Bank Reviews: Is Chase a Good Bank? appeared first on Dumb Little Man.

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lifesobeautiful · 2 years

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How to Choose the Right Amazon Consultants for Your Business?

Nowadays, Amazon is considered one of the biggest online retailers and eCommerce stores in the e-commerce industry. It is known as the powerhouse of online sales. By February 2021, Amazon accounted for more than 40% of the e-commerce market share in the United States, making it one of the largest online retailers by far.

From selling toys to books to flowers, if you are looking to sell any of these products, you need to be on the Amazon online store. Your online presence on Amazon plays a critical role in the success of your online business.

The competition is getting tougher with increasing sellers on Amazon with hot selling products. As an Amazon seller, it is up to you to navigate your competition and stand out to ensure all the products you are offering in your online store are getting attention from your target audience.

Make sure your customers have access to all your products in your online store. But it isn’t easy to do it all by yourself. That’s where the Amazon consultants come into play. You can hire Amazon marketing consultants to get their consulting services to cater to your customer needs at highly affordable rates. In this blog, you will know how to choose the right amazon marketing consultants for your online business.

Why is there a need to hire Amazon Marketing Consultants?

Photo: ecommscience.com

When you hire an Amazon marketing consultant, it is an investment that will benefit your business in the long run. Some of the key advantages of hiring Amazon marketing consultants are:

Amazon marketing consultants provide you with guidance for your products and your storefront.

They provide you with guidance on where you should invest your money in marketing.

They will help you get your products and services in front of the right target audience at the right time.

But there are exceptions; not all Amazon agencies provide the best marketing services to promote your brand. Therefore, you need to choose the right marketing agency for your online business wisely; otherwise, it will only cost your time, money, and, most importantly, your potential customers.

To be honest, there are a plethora of marketing agencies that are promising to provide some “secret ingredient” or insight into the right marketing strategies. It seems too good to be true, but sometimes it is. If you invest in the right marketing agency, you will gain an insight that will prove beneficial to your business endeavors.

With so many competitors offering similar products and services, you need new marketing strategies to give a competitive edge to your rivals on Amazon. Finding the right Amazon marketing agency seems quite a daunting task, but it is not.

Ask these questions mentioned below to determine whether it is the right Amazon consultant for your brand.

1. What will they exactly do to get you there?

The first step in determining whether it is the right Amazon marketing for you or not is to examine what they are exactly promoting—not just driving higher sales but what strategies they will use to help you get there. What additional services are they offering to market your brand?

If you already know what particular services you need, you can ask your Amazon consultant to provide information regarding your concerns.

If you feel they are just running around your questions and not offering any authentic information, move on to the next.

2. Is it the right marketing agency for your online business? What makes them worthwhile?

While hiring an agency, look at the company and the services they are offering. What is their company’s reputation in the market? What sets them apart from other marketing agencies? What are their previous achievements? What additional services are they offering?

This will give you an insight into their marketing strategies and how they will help you get there. You can go to their website to check the customer reviews and feedback on their services. You can also read the client testimonials on their website.

3. How will the Amazon marketing consultants work with you?

Photo: Pinterest.com

Sometimes you get stuck with a big marketing agency that is already occupied with lots of clients and projects and can’t find the time to help you. So, always look for an agency that will provide an Amazon marketing consultant who is always there to provide guidance and assistance. Before hiring, ask your marketing agency how they will work for you and offer you support to get an idea.

4. Does the contract you have signed with the marketing agency gives you the charge?

There are a lot of misconceptions that once you have signed the contract, you will be there until your success. But this is not true. There are some limitations when it comes to the contract. Therefore, it is advised to read the contract terms carefully before signing the contract. It is better to start with a 30 days contract with your agency if you don’t feel like working with them anymore, so you can simply move to another agency.

5. Select a transparent Amazon advertising agency

You should select an Amazon marketing agency for your business that is offering its services with transparency. You must be aware of the services your agency is offering and how they will help you reach your business goals and market your brand. It is your right to know what the consultant is doing to get you there as a seller.

Conclusion

There are many benefits of hiring an Amazon Marketing consultant as they offer new and effective marketing strategies to increase your conversion rates and drive more sales. They provide new techniques and resources to change your way of doing business on your website comprehensively. Amazon marketing consultants help in earning you more from every business sale and also boost the sales percentage.

The post How to Choose the Right Amazon Consultants for Your Business? appeared first on Dumb Little Man.

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lifesobeautiful · 2 years

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Chime Banking Reviews: Is Chime a Good Bank?

Different banks include a complete state of account options with multiple whistles making the process harder to determine what fits your needs. YES! You heard that right.

Don’t you desire to keep things simple? Well, chime has got you covered with one spending and saving account. The chime ties up entirely with a decent mobile app and secured credit-builder account.

Either it’s about student loans or debit card purchases, chime comes with no minimum deposit and overdraft fees to provide people an overwhelming experience.

What’s the catch, by the way? It is one of the automated savings tools with secured credit card access and much more. Let’s get right into the detailed chime review!

Chime Bank Reviews: Topic Overview

Understanding how bank accounts work can be overwhelming at first glance but we’re here to help break it down so that anyone can understand it!

Check out our comprehensive review of Chime Bank’s services below: -What are the benefits? -How does it compare against other banks? -What are the Pros and Cons -Who is Chime best for?

Everything you need to know about Chime Bank in one place. We’ve got the details for you.

What is Chime Bank?

It is an exclusive option launched in 2013 to ensure an effective alternative to serving people better than other bank accounts. It’s an online financial enterprise that works with bank account to offer check and saving account services. Well, it’s not a bank, seriously.

How is chime different? Chime differs from other banks as it opens an account for you at partnership banks. But wait! It still has Federal Deposit Insurance Corporation (FDIC) insurance. The bank n.a members FDIC will find it a secure place to save all their money.

You have to use chime through a mobile application, and it ensures a plethora of features to make the banking process highly convenient. And guess what? The mobile app is well-rated at the Apple and Google Play stores.

Lastly, the app will send you a daily account balance with all transaction alerts whenever you make any purchase. There is an option available to disable the notifications from the banking app. The option saves you from making any customer service call, particularly when you misplace the card. Moreover, you can disable international transactions from the mobile banking app.

How does Chime work?

Let’s dig a little deeper! Chime works with operating an app that enables the customers to generate spending and saving accounts with a debit card for effectiveness. It doesn’t cost you any account fees as the chime app is entirely free, and it makes money through the transaction fees that the visa actually charges. It happens when customers use the card as it works in partnership with a visa.

Besides this, chime also offers clients the option to paychecks deposited at least two days before. The savings accounts include two automatic saving options to help the customers more. One provides the client’s choice to evaluate the debit-card payments to almost the nearest dollars. The other option will direct a total percentage of all paychecks to the savings account.

Chime app works by letting the clients fee-free checking and saving options with depositing cash and a card. Basically, the chime is a challenger bank that ensures no fees without even having physical bank branches. Mobile banking and savings accounts are the top options chime uses to provide credit reports and user-friendly services.

What are the Features of Chime Account?

Chime Savings Account

You will only get one saving option illustrated as the high-yield saving account. It offers a saving rate of 0.50% APY, which is quite beneficial than others. Moreover, the savings accounts feature two different automatic savings programs to help clients reach saving goals.

Whenever you enable it, all purchases made are rounded up to dollars and transferred to a savings account. That’s how a savings account works. You can also send the desired portion of direct deposit measuring almost $500 to the savings account.

The process of transferring money to a savings account might be daunting. The chime spending account and chime savings account work differently with the direct deposit to make it more user-friendly.

Chime Spending Account

Spending account and comes with a decent Visa card. Chime doesn’t include traditional bank account features such as writing checks with the chime checkbook feature within the checking account. You can pay bills through this feature so transfer a check on your behalf that will reach in almost three to eight business days. The credit limit is something that needs consideration.

The plus point is that you can send unlimited checks every day so that you can use the spending account precisely. Clients can effectively use the debit card without paying any additional fees throughout the US. It will also not cost you foreign transaction fees when using the chime debit card.

Chime offers SpotMe, and that’s a significantly valuable advantage, no doubt. It helps to evaluate overdraft fees that allow customers to avoid this feature on the spending account. SpotMe also works to receive direct deposits every month. Chime uses monthly direct deposits to determine eligibility.

Here we go with the features it comes with! Whether it’s the savings account or spending account with other debit card purchases, a chime will always support you.

Access to direct Deposits

You can also fill the paperwork and get access to direct deposit while paying almost 48 hours early using the chime spending account.

Save When I Get Paid

Whenever you get paid chime, send 10% of direct deposit into the Chime Savings Account. YES! It converts a portion of the money to the nearest dollar upon each $500 deposit and sends the money through automated savings tools into the account.

Visa Zero Liability

Chime provides debit cards. The cardholders aren’t responsible for any charges. The plus point is that clients can block transactions on the card through the app.

The process of transferring money to a savings account might be daunting. The chime spending account and chime savings account work differently with the direct deposit to make it more user-friendly.

How much does Chime Cost?

Type of AccountMonthly FeesWaiver CriteriaMinimum Deposit Amount Chime Checking Account$12$500 or more in monthly direct deposits. Maintain a $1,500 balance at the beginning of each day. Keep at least $5,000 across Chase accounts.$0 Chime Saving Account$0N/A$0

Who is Chime Best For?

If you are the one searching for simple and convenient banking services, chime has got you covered! The chime spending account and chime savings account are best for people who don’t want to pay for monthly fees or balance requirements. Chime enables the clients to:

You can open a savings account with zero balance requirement

Open a chime spending account using the debit card

Get a practical credit report with a large ATM network

Use the card overseas as it won’t require foreign transaction fees

The clients can deposit cash electronically using their phones

Chime Pros and Cons

PROS

No monthly fees

The best part is that chime comes with simple yet convenient banking options free from monthly service fees. Moreover, the chime spending account won't cost you minimum balance fees. You won't have to invest any transaction fees when you deposit cash. Large free ATM Network

Chime comes with almost 38,000 ATMs in two different networks for early access. These ATMs are available in other retail stores; therefore, you have to look for a store that's present at the hour whenever you need to withdraw money. Due to the availability of multiple ATMs, it is effortless to find the correct one near you. The large out-of-network ATMs will ensure you a great experience. Access to direct deposits

With chime, you can get early access to money. Chime savings account helps you receive the money within less time. Once you get direct deposit cash from anywhere, chime allows you to get that money two days earlier. That's a quick process than many traditional banks.

CONS

Average saving rate

Generally, the average saving rate in chime accounts for a 0.50% annual yield, which is better than traditional brick-and-mortar banks. But wait! When we talk about other money market accounts or online banks, it's less and should be up to the mark. Limited services

Do you know chime also offers limited banking services? YES! These services don't include CDs, lending options, and other money market accounts; chime might not be the best option. You can transfer limited money to chime with an external bank. For instance, you can only transfer $1000 per month. Daunting to make cash deposits

Another disadvantage is that you can deposit cash only at retail locations with the partners. You cannot cash deposit within the ATMs, and that's not a valuable thing. A few retailers might allow you to deposit money, but they may cost you additional fees.

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Compare Chime to other Banks

BankMinimum DepositMonthly FeeSavings APYOverdraftNumber of Branches Chime Bank$0$00.50% annual$34N/A Chase Bank$0$120.01%$345,100 branches American Express$0$10.40%$34over 1,000 branches Discover$0$00.40%$0N/A

Chime vs. Chase

Chime and chase are totally different in providing online banking services to customers. Chime’s savings account works to covert money to the nearest dollar and saves a significant portion of cash, whereas chase doesn’t include such a feature.

Chase will cost you fees. YES! It will cost you fees for not receiving enough cash in the account or not even holding the money. However, chime has no fees with zero minimum balance requirement; chime is far more effective than chase bank.

With stride bank n.a members chime, works completely to meet customer needs through the chime mobile app. It will cost you no money on withdrawals when compared to chase. Chime has better interest rates than chase as it had tons of fees even when you didn’t get anything in the account. Therefore, chime and chase are two different banks with specific services to satisfy the customers.

Chime vs. American Express

American Express and Chime are both multinational financial and banking companies in America. Can we compare chime to American Express? American Express provides you with different ways to receive money by depositing it back as the money is then transferred to the CD account.

However, the chime is all about the spending and saving account with no overdraft fee and helps you send money instantly. It comes with an automatic savings tool to deposit money into the savings account, whereas American Express has higher interest rates and is highly competitive.

If you want to deposit money in American Express, it’s essential to connect yourself to current banking accounts, whereas chime doesn’t include such policies. Chime offers debit card services with a large ATM network, but American Express doesn’t include debit cards and checks to help you receive money.

Chime vs. Discover

Let’s compare chime to discover. Is it worth it? Or which one is the best? Discover offers competitive personal deposit accounts and will help open all the accounts online.

However, chime includes an automatic saving setting with no credit check to create accounts. Discover has interest rates on accounts, while chime has no low-interest rates. Chime also features daily spending and withdrawal limits, whereas discover comes with outgoing wires costing you hefty fees.

It allows you to send money instantly, and the extra amount can be transferred to the savings account. Chime includes spending and saving accounts whereas discover features saving, money market accounts, and multiple CDs online.

Moreover, discover includes personal deposit accounts, not like a chime that has multiple options. Chime has no opening required fees when compared to discover, which might cost you a high amount.

Conclusion: Is Chime a Good Bank?

Overall, it’s a thumb up for chime. This financial technology company ensures innovative bank account solutions to help people manage money online.

With such lower fees in the account, chime offers better services than traditional banks with a free ATM network for effective functioning. Sounds good, right?

Another thing that makes chime better than other financial institutions is how it examines the clients. You can quickly get a chime account even when you don’t have an adequate credit score.

Therefore, get an account with a chime to build up a credit history or credit union. This chime review will help you a lot.

Chime Bank FAQs

Can you get scammed on Chime?

Is chime account prone to scams? Can this really be true? Let us show you in detail! Chime online bank made a unique approach in designing several security measures.

It also protects the customers from different online scammers and warns them repeatedly regarding sharing their specific banking information, particularly with strangers.

A financial technology company features the most significant risk of compromising financial details mainly to cyber attacks in today’s world.

Chime online bank seeks to educate the clients to cope with such online scammers and save their credit history significantly.

What are the cons of using Chime?

Do chime accounts feature any disadvantages? To be honest, YES! A chime account works in partnership with Bancorp bank or stride, but still, some things need consideration.

The first thing is the lack of physical banks as it’s not a bank. Chime customer support is by phone and entirely online. Have you got that?

You will get a limited application to different services like withdrawals and spending limits. In addition to this, the fee-free overdraft is available only to customers.

It doesn’t include multi-currency options. You can only use the card in the US and any other country worldwide. That’s how chime accounts work.

Is Chime a good banking card?

Is chime a reliable banking card? The chime card is an ideal online bank to promote effective banking services far more effective than a traditional bank account.

We all know a traditional bank costs you hefty fees but chime cash deposit, credit check, transaction notifications, and deposit funds offer no fees.

Its’s time to enjoy a free ATM network and withdraw money using a chime card from 38,000+ ATMs. Chime works in partnership with stride bank or Bancorp bank to enhance the credit score.

Furthermore, chime includes automated savings tools within the chime bank or chime mobile app to help people get maximum advantage from their online account.

Is Chime a real bank now?

To be honest, the chime is not a real bank. What else do you need to know? Consider chime as a financially updated or technological company known to provide exclusive banking services offered by Members FDIC.

Do you know chime members can get a reliable spending account? YES! The spending account works along with a saving account to ensure exclusive benefits to people.

Quite simply, a user can grow the credit history mainly by getting a secured Chime Credit Builder account that’s the chime card, seriously.

Moreover, it will help you get the benefits of mobile and online banking. The chime customer service is practical enough to provide online banking services provided by the better business bureau.

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