Become a Bank Teller

The bank teller is the first and sometimes only bank employee with whom the general public has contact. He or she is the person who handles basic money deposits, withdrawals and check-cashing transactions. Customer service skills, as well as the ability to attend to clients’ needs quickly and efficiently, are a must. Once obtaining a position as a bank teller, you can become certified, which can lead to more employment options within the banking field.

Become a Bank Teller

  • Graduate from high school with some math classes under your belt. One of the main responsibilities of a bank teller is to count money quickly and accurately.

  • Consider taking some college classes before you become a bank teller. A college degree is not required by all banks or other financial institutions, but some businesses may require it. An advanced degree in a related field, business administration or economics for example, is usually advantageous when trying to move up the corporate ladder.

  • Search employment databases that specialize in business or financial services jobs. The American Bankers Association (ABA) is a good place to start (see Resources below).

  • Emphasize prior customer service skills and experience that you may have. Highlight these abilities on your resume as you begin to apply for jobs. Strong interpersonal communication is a very important factor when bank managers hire their tellers.

Become a Certified Bank Teller

  • Work as a bank teller for 6 months or longer. This is the minimum length of time on the job required in order to become certified.

  • Take courses toward the American Institute of Banking (AIB) Bank Teller Certificate. Your employer may provide some of the training needed. Topics covered include the state of today’s banks, business etiquette and ethics, customer service, relationship banking and working with coworkers.

  • Obtain a reference letter from a supervisor who is in a senior managerial role at your place of employment. He must vouch for your professional abilities, work ethic and explain why he thinks you qualify for certification.

  • Agree to uphold the Institute of Certified Banker’s (ICB) code of ethics before taking the certifying exam. This is done by signing a statement that the ICB includes in the application package.

  • Sit for the Certified Bank Teller (CBT) examination. You have 90 minutes to answer more than 70 multiple choice questions.

  • Maintain your certification every 3 years by taking continuing education courses.

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How to Choose a Bank

There are more banking options than ever these days. With a little research and legwork, you can find the banking relationship that fits you and your finances.

  • Consider a bank that is convenient to your everyday activities. Look for banks that are easily accessible as you drive to and from work or while you run your usual errands.
  • Check out different banks’ Web sites. There you can get a good idea of the types of accounts, available services and rates offered before you set foot inside a branch office.

  • Think about what is most important to you in a banking relationship. If you want to be able to develop a personal, long-term relationship with a bank, a smaller, local bank might best suit your needs. If you travel frequently and need access to branch offices while you are out of town, consider a regional or national bank.

  • Consider how you will be banking. If online banking and ATM banking interest you, select a bank that offers those services.

  • Visit the branch office where you would be conducting most of your banking business. Are the tellers professional and friendly? Are the account officers and/or managers accessible? Are the hours of operation compatible with the hours when you will do your banking?

  • Compare interest rates and service charges among banks to make sure you’re getting the best deal.

What is SoftBank

SoftBank was established in Tokyo, Japan, on September 3, 1981, and had a market capitalization of approximately ¥9.53 trillion (approx. $92 billion) on April 1, 2014, making it the 86th largest company in the world by market capitalization. Between 2009 and 2014, SoftBank’s market capitalization increased by 557%, the fourth largest relative increase in the world over that period. At the beginning of 2015, the company was the third largest public company in Japan after Toyota and Mitsubishi UFJ Financial.

SoftBank’s corporate profile includes various other companies such as Japanese broadband company SoftBank BB, data center company IDC Frontier, gaming company GungHo Online Entertainment, and the publishing company SB Creative. Additionally, it has various partnerships in Japanese subsidiaries of foreign companies such as Yahoo!, E-Trade, Ustream.tv, EF Education First and Morningstar. SBI Group is a Japanese financial services company that began in 1999 as a branch of SoftBank.

SoftBank was the only official carrier of the iPhone in Japan until the release of iPhone 4S when it became available on au by KDDI as well.

On July 6, 2013, the Federal Communications Commission approved SoftBank’s acquisition of Sprint Corporation for $22.2 billion for a 78% ownership interest in Sprint. The acquisition involved payment of $17.2 billion in cash to Sprint shareholders, with the balance $5 billion as capital contribution. The transaction was financed by the way of cash and a bridge loan from a consortium of banks.

In May, 2015, Masayoshi Son said he would appoint Nikesh Arora, a former Google executive, as Representative Director and President of SoftBank. Arora has been heading SoftBank’s investment arm.

NatureBox Raises $30 Million

Global Founders Capital led the investment. The venture arm of Rocket Internet RKET.XE -0.74%— founded by Oliver and Mark Samwer, and Delivery Hero Holdings GmbH founder Fabian Siegel— is well-known for its early and major investments in food tech companies including Hello Fresh GmbH, Delivery Hero and Foodpanda GmbH.

A Partner at Global Founders Capital, Dan Jones, notes that his firm specializes in helping portfolio companies scale internationally, beyond their home-base markets and native languages, especially in Europe and Asia.

His firm backed NatureBox for several reasons. Primarily, Mr. Jones said, the company is “playing into health and wellness” trends in the overall food market, with people “increasingly conscious about what they are eating.”

Besides the massive market opportunity there, the investor said, NatureBox is experiencing “explosive growth starting from an already high number,” with “strong margins,” though he declined to disclose specific revenue and profitability.

Food buyers in the U.S. spend some $64 billion a year on snacking alone, according to economic research from the U.S. Department of Agriculture.

NatureBox co-founder and CEO Gautam Gupta says the company will use some of its capital to develop new products, raise brand awareness, and strike new partnerships with companies that can help it sell or give out samples of its foods to prospective subscribers, as well.

Joining Global Founders Capital in the Series C investment in NatureBox were: Neuberger Berman Private Equity Funds, Kensington Capital Holdings, Valley Oak Investment Partners, individual investors and previous backers General Catalyst Partners, Canaan Partners and Softbank Capital.

The startup raised $18 million in Series B funding in April 2014, as Dow Jones VenturWire reported then.

Since raising the earlier round, NatureBox has managed to strike a partnership with American Airlines AAL +1.26% that has the airline purchasing and giving out its products during some breakfast-time flights.

It also opened a new shipping center, and diversified the types of products it offers customers to include convenient grab-and-go breakfast foods — including oatmeal mixes and mini belgian waffles — along with other snacks made from what Mr. Gupta calls “clean” ingredients.

The company’s website allows users to “browse snacks” and refine search results by “taste, nutrition or ingredient.” A shopper with a flavor preference, allergy or other dietary concern, can easily find snacks to order that are vegan, GMO-free, or that are free of gluten, eggs, soy, nuts or milk for example.

Canaan Partners’ Warren Lee says with the new growth capital, and a high rate of loyalty among its existing customer-base, NatureBox is poised to become a brand as strong as Chobani yogurts, or direct-to-consumer eyeglass sellers Warby Parker (JAND Inc.).

“When you see a company growing this fast and in a market this big, you say ‘hey, let’s put more money into it,’” he said.

(Correction: Neuberger Berman Private Equity Funds invested in the Series C round for NatureBox. An earlier version of this story incorrectly said the investor was Neuberger Berman Equity Funds.)

One Stop Solution to Loans

Chase bank, a division of JP Morgan Chase & Co. was initially known by the name Chase Manhattan Bank. The bank has its headquarters in Chicago. Today it offers extensive services to more than fifty countries. It has its branch in a number of locations like India, Kenya and multiple European countries. It is a prominent institute that offers a variety of financial services including asset and wealth management, investment banking, commercial banking, security and treasury services, credit card services, transaction processing services and retail financial services. Be it student loans, home loans or auto loans, the bank make sure that you avail each with ease.

It has opted for the online way for helping customers enjoy efficient and fast services. You can check the official website of this bank so as to gather all relevant information and get answers to your queries. If you want to sign up with a deal with the bank, then you can either get their contact number or log in at their website. However, before you go in for this step, you need to get yourself registered with the website. If you have opened an account in this bank then make sure to secure the routing number for protecting your personal and financial information. Similarly, if you want to follow a hassle free and fast transaction then make sure to know about the bank’s swift code.

The customer service department of the bank is extremely effective and it helps you with all needed information that you as a beginner will need. To be more specific, whether you need credit card services related guidelines or guidelines pertaining to other financial services, the customer care department is there to help you with all.

Out of its multiple locations, the bank has operated successfully in most developing countries. Chase Bank in India has offices in Bangalore and Mumbai which employs over 4000 employees. Similarly, the bank in Kenya has also gained immense popularity over the past few years and provides innumerable financial solutions to the needy and poor citizens of Kenya. Last, but not the least, the bank is also a one stop solution to different personal and home loans and that too at a feasible rate of interest.

When Will Your Bank Deposit Clear?

When a check deposit is walked into a bank branch, it is processed the same as an ATM machine deposit, meaning that at many banks, only $100 is immediately available for withdrawal or a credit toward pending debts (unless it is a business account, or the customer has some other arrangement with the bank).

One of many judgment articles: I am not a lawyer, and this article is my opinion based on my experience, please consult with a lawyer if you need legal advice.

The only difference between a “walked-in” check deposit and an ATM deposit is the posting cut-off time. Checks are not usually processed at the individual bank they were deposited at. Many banks have a cut-off time of 4 PM for posting walked-in deposits because the bank sends by courier, all the checks received to their contracted scanning company (called a clearinghouse, in California, see commercial code 4104) for processing.

If one deposits a check at their ATM, the ATM screen usually shows the cut-off time for posting deposits (or one can ask a bank employee), often 8 or 9 PM. The reason for the later cut-off time for ATM deposits is because the deposited checks are scanned at the ATM machine, whereas the walked-in deposits are not scanned until they are processed at an off-site clearinghouse.

If one wants immediate access to the full amount of their deposited check, one must usually cash that check at the issuing (payor) bank and then deposit the cash into their own account.

With a walk-in deposit, one can ask the bank teller to credit the entire check instantly, however the teller will do that only if the check has the same payor bank as where the check is being deposited. However, even at the same bank, each branch is considered a separate bank, in regard to being a payor and depositary bank. In California, see commercial codes 4105 and 4107.

Of course, the other way to get full credit for a deposited check is when the customer has enough funds already on deposit, to cover the check if it is returned; or if the account is connected to a line of credit.

A typical bank credits all ATM deposits made before 9 PM, and all walk-in deposits made before 4 PM. The funds are usually available at 12:01 AM the following business day. If deposits are made after either cut-off times, the funds are usually available at 12:01 AM on the second business day.

Although deposits will be entered in the bank’s general ledger right away, the full value of check deposits often are not available on the date of the deposit. The full value of a check is usually available 1-3 days later.

If one is trying to recover a large judgment and they know their debtor’s bank, they can go to any branch of that bank (or the bank’s website). Then, they can visit the new accounts desk, and ask for a disclosure statement as a potential new customer, and talk with the representative. One can ask questions to get information to help plan a future levy attack. Each financial institution has its own procedures, but must comply with the overall laws.

Getting Your Kids Interested in Saving Money

Not a day goes by in which your children don’t pester you for money. Whether they’re itching to buy that hot new video game or go to the movies with friends, they know that they can depend on you to act as their personal ATM. Despite the fact that they receive a weekly allowance – and a very fair one, at that – your kids are completely unfamiliar with the concept of budgeting. It’s hardly unusual for them to burn through their respective allowances in the blink of an eye and come to you expecting more.

Deep down, you realize that at the rate they’re going, your children are never going to learn the value of money. Since they can just come to you whenever they need to make a purchase, they fail to realize that money is an extremely finite resource. Failure to teach your kids about saving and budgeting at this stage in their lives is liable to result in them becoming financially wasteful adults. Fortunately, there are a number of ways for parents to teach children financial responsibility and the importance of hard work. So if you’re tired of being treated like a sentient cash machine, put the following tips into practice.

Open Savings Accounts for Your Kids

In many cases, children won’t be tempted to spend money if it isn’t right in front of them. With this in mind, take your kids to your local bank and open savings accounts for them. Once the accounts have been opened, inform them that they’ll be required to deposit a certain percentage of their respective allowances each week. Although your kids are bound to be apprehensive about this new arrangement at first, always having money in the bank will ensure that they’re not constantly hitting you up for cash. After several months have passed, both you and your children are bound to be surprised by how much money they were able to save.

Make Your Kids Earn Their Allowances

It’s difficult for many children to learn the value of money when they receive allowances they don’t have to work for. Instead of simply giving your kids a predetermined sum of money each week, make them earn their allowances through chores and good grades. If they have to work for their money, they’re far more likely to think twice before blowing it on something frivolous.

Have Your Children Start Working Part-Time

Parents who are looking for ways to teach teenagers financial responsibility should consider making their kids take on part-time jobs. In addition to providing your youngsters with the satisfaction of earning their own income, part-time jobs will give them an early taste of the working world. Having a job will also give teens a better understanding of what their parents have to go through to earn the money they’re so good at wasting.

It’s no secret that getting kids interested in saving money can be an uphill battle. With a growing number of children obsessed with instant gratification, the concept of putting money away for a later purchase is often a hard sell. However, with a fair amount of perseverance and the implementation of the previously discussed tips, you can bring your financially-ignorant youngsters up to speed in no time.

How To Teach Your Teenager About Checking Accounts

As young adults and teenagers begin using banking tools, it is important for them to learn about things like checking fees, overdraft charges, and online banking tools. Empowering children to utilize the tools they will need in adulthood is always a good idea. Wise use of money and banking options is one of the best things to teach your child. A good basis in money matters can protect them from poor decisions throughout their life. This creates a more successful and responsible child, and later, adult. With confidence in earning, using, and saving money, comes independence.

Plastic doesn’t equal money

One of the first lessons about banking is that your teen should only spend money they have. This highly important money principle should be ingrained from the beginning. Just because the credit or debit card or check book is in their pocket, doesn’t mean they have the freedom to purchase anything. Have them keep a register of spending habits or log into their account regularly to check the balance. If the funds are low, it is best to not make purchases until another deposit can be made. That helps track spending and to avoid unnecessary checking fees like overdraft charges and penalties. They should understand that if they don’t have it, they can’t spend it. This rule should be taught in the first class of banking 101.

Protection of Money

While your child might prefer keeping their birthday and chore money in an envelope under their mattress, teach them the safety that a bank can provide. The cash under their mattress is easy to get to fast, but is vulnerable to an unscrupulous friend or meddlesome sibling. Plus, carrying cash around in a pocket makes it easy to lose. Depositing those funds into an account means they are protected from fraud and loss by FDIC insurance and the by bank, through checking fees. A bank can not only provide security, but also ease of access through online banking options, checks, and debit cards, which are widely accepted today.

Good Housekeeping

Since the bank is holding their money, instill in the teenager the importance of checking the account often. The best way to avoid excess checking fees or damage by fraud or mistakes is to keep an eye on the activity. Also, the account should be balanced monthly, to rectify any issues. Many banks have a variety of tools today to help online or over the phone for easy and fast access to the information. Also, banks now have options for tracking certain types of charges, such as entertainment or transportation costs. Watching those numbers could help them strengthen their budgeting skills.

Account Safety

Having a bank account is safer than carrying large amounts of cash. It is also true that a bank might offer protection against fraud. However, it is better to avoid pitfalls in the first place. The teenager should know how to protect their password and account. Teach them to never use a computer that isn’t secure or has outdated virus software. They should also never share their private banking information with anyone, especially over the phone or in an email. Some thieves solicit private information through unsecured routes. Using a complicated password that involves multiple letters and symbols is also a good idea.

Banks Hold Treasuries and Make Loans

Ever since the 2008 financial collapse, banks have reduced their lending while accumulating U.S. Treasuries. On the surface placing capital into the safest depositor may seem prudent. On the other hand, Why Big Banks Are Suddenly Interested in Talking to You Again? According to Inc, “After years of turning away small-business borrowers, the country’s largest banks are now granting one out of five loan applications they receive. The 20 percent benchmark represents a post-recession high for big banks (assets of $10B+). Further, small banks have been approving more than half of the funding requests they receive.”

Such news would normally be welcomed. The Sovereign Man article, Here’s Why US Banks Are Now Extremely Vulnerable, presents a sober warning that the banking industry is at risk from a bond market sell-off.

“In just the last month alone American banks increased their holdings of US treasuries by $54 billion, to a record $1.99 trillion.

Facing $127 trillion in unfunded liabilities – which is nearly double 2012’s total global output – and with no inclination to reduce those numbers at all, at this point disaster for the US is entirely unavoidable.

Under the rather arbitrary Bank of International Settlements Basel capital adequacy rules government debt rated at least AA continues to carry a “zero risk” weighting. Meaning that banks do not need to set aside capital against it.

Beyond that, regulations imposed after the last crash to reduce risk require banks to hold $100 billion in liquid assets, which of course includes bonds. Thus, they are not only encouraged, but actually forced to buy government bonds.”

The fundamental change in the last six years is that the banks were rescued from normal capital requirements under a zero interest rate discount window. The inevitable result starved the small business and personal borrowing market from obtaining loans. With the losing of funds to finance business and consumers, could the dire warning that the banks understand they need to rotate out of Treasuries, be the reason for the shift in lending?

However, the rush to come into compliance has America’s Banks Pile Up Treasuries as Deposits Overwhelm Lending. This explanation of a change in regulation ordains that U.S. Bonds are still a necessary component in their balance sheet.

The Key Ingredients In Financing Businesses Properly

Financing businesses in Canada for the majority of business owners and financial managers conjures up more often than not only one thought – a commercial bank business loan. While other alternatives exist, more so today than ever our banks are usually top of mind when it comes to finance solutions. Let’s dig in.

Whether it’s operating capital to run and grow their business or term debt of some sort it’s that external capital challenge realization that becomes your focus. For businesses in the SME Commercial (small to medium enterprise) sector that funding might come from personal resources or the proverbial ‘ friends and family ‘ but typically the owners focus is either a bank or commercial finance firm.

Does the typical owner / manager understand what drives bank approvals for financing requests? When we talk to clients it’s usually listening to their negative experiences in accessing bank funding. We’ve always found that interesting as there is probably not a more straightforward system that banks use to scorecard and approve financing. Let’s take a look at some of those key ingredients in properly funding a business.

Let’s take a look at that system a bit, if anything it will provide the borrower with the ability to self evaluate, saving time and energy on getting the right financing. Oh, and by the way, in our opinion it’s the banker not the bank, so focus on a relationship, not a logo.

While banks offer a number of solutions – typically revolving credit facilities, term loans, asset financing, etc. the focus for approval always comes down to looking at current and forecast financials to determine the best method of structuring financing.

That is not to say that past performance is not also looked at, as well as the overall asset quality of your business in relation to the amount borrowed.

The actual ‘net worth ‘ of a business is key in bank financing. The amount of debt you have, in combination with the amount you are requesting must make sense to the bank. One key rule of thumb for the majority of industries in Canada is that your total debt should not be more than 2 times the equity in the business. As we said though, that formula varies within industries.

Many businesses in the SME sector, particularly start ups and smaller firms can take advantage of bank financing via the Government Small Business Loan. Recent changes to the program make this financing even more attractive, but it already offered good rates, Borrowing limits recently increased also, with the previous limit being 350k.