bank account – How To Occupy http://howtooccupy.org/ Wed, 16 Mar 2022 01:59:50 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://howtooccupy.org/wp-content/uploads/2021/07/icon.png bank account – How To Occupy http://howtooccupy.org/ 32 32 Surviving Crypto When Money Fails https://howtooccupy.org/surviving-crypto-when-money-fails/ Wed, 16 Mar 2022 00:27:00 +0000 https://howtooccupy.org/surviving-crypto-when-money-fails/ This story is part War in UkraineCNET’s coverage of events there and the wider effects on the world. Artyom Fedosov was confused when his taxi driver announced that his credit card had been declined. Fortunately, the 27-year-old Ukrainian photographer had a backup card. But when he offered it, that one strangely didn’t work out either. […]]]>

This story is part War in UkraineCNET’s coverage of events there and the wider effects on the world.

Artyom Fedosov was confused when his taxi driver announced that his credit card had been declined. Fortunately, the 27-year-old Ukrainian photographer had a backup card. But when he offered it, that one strangely didn’t work out either. In a last ditch effort, Fedosov went to an ATM to try and withdraw money from his debit account. The machine also rejected it.

“That’s how I found out,” Fedosov told me in a recent interview via Zoom, “I had lost access to my savings.”

This “terrifying” moment happened in late February, days after Russia invaded Ukraine. Fedosov was not in his hometown of kyiv, but rather in Kazakhstan. It was supposed to be a week-long stay at the end of a photographic trip to the Middle East, but the invasion of Russia prevented Fedosov from returning home.

Since his ill-fated taxi ride, Fedosov has been living off cryptocurrency. He found a bitcoin ATM in Kazakhstan, which allowed him to exchange shards of the cryptocurrency for Kazakh tenge. He has since opened a bank account in Kazakhstan, funded exclusively by the sale of cryptocurrency, and moved to Germany. To bolster his funds, Fedosov is also selling photographs as NFTs — people buy them in ether, which he converts to cash — and he expects that will fund a few more months of spending.

Fedosov is one of approximately 5.5 million Ukrainians who own cryptocurrency. Its ability to live off bitcoin and ether is music to the ears of cryptocurrency proponents. They point out that situations like Fedosov’s, when the financial system stutters or fails, are the precise reason bitcoin was created. Use a cryptocurrency wallet – instead of going through one intermediate exchange like Binance – Holders can access their cryptocurrency with nothing more than an internet connection and a 12-word seed phrase.

Fedosov opened a bank account in Kazakhstan, which he funded by selling his cryptocurrency.

Artyom Fedosov/Twitter

Millions of Ukrainians and Russians lost full access to their money in the days following the invasion. Hoping to gain access to ATMs, queues of people snaked through city blocks in both countries. Banks quickly imposed restrictions on cash withdrawals. This was particularly acute in eastern Ukraine, where much of the fighting is taking place. The central bank in Donetsk, a region of 2 million people that has declared itself autonomous from Ukraine, has limited citizen withdrawals to just $130 a day. There are anecdotal reports of people in the East being completely unable to withdraw their savings or access their credit.

“It was crazy,” Fedosov said. “In the beginning, the rules changed several times a day.”

Fortunately, the banks’ worst fears have so far not been realized. Most Ukrainians, including those abroad like Fedosov, have regained at least limited access to their funds. However, the situation is still difficult. The central banks of Russia and Ukraine have imposed restrictions on foreign currency withdrawals. The largest commercial bank in Ukraine, PrivatBank, posted a plea on Twitter, asking for armored trucks with which to transport money to ATMs. In the days after the outbreak of war, Russians fearing what the sanctions would do to the ruble chose to invest money in bitcoin. (The ruble has fallen about 30% against the dollar since the invasion.)

“Bitcoin is sort of the perfect war asset, unfortunately,” said Swan Bitcoin analyst Sam Callahan. “You have wealth stored in your head with 12 words, it’s very different even from gold or art, hanging in banks or in vaults. People can cross the border with nothing that can be confiscated, and with 12 words in their head have their wealth.”

Callahan’s statement would be controversial in mainstream financial circles. Critics say cryptocurrencies are too volatile to act as hedges against inflation, let alone the collapse of a monetary system. But after two years of dizzying price movements, it’s a reminder that bitcoin and other cryptocurrencies were designed to be more than speculative assets.

Already, cryptocurrency has played an outsized role in the war. The Ukrainian government succeeded in raising over $60 million for the resistance effort simply by posting its Bitcoin and Ether wallet addresses on Twitter. Millions more were collected for local charities and NGOs. However, not all crypto prospects are positive. Some fear that Russian oligarchs are using cryptocurrency to evade historic sanctions the West has imposed on Russia. Just as global charities are likely to emulate Ukraine’s crypto fundraising, Fedosov fears that repressive regimes in Iran and Syria will follow Russia’s lead if the country can evade Western sanctions using bitcoin and ether.

Callahan says it’s unlikely. The combined market capitalization of bitcoin and ether is around one trillion, too little for a country as large as Russia to significantly circumvent sanctions. Some oligarchs may be able to move funds, though Callahan says it would be difficult to convert large amounts of money from cryptocurrency to fiat without alerting blockchain analytics firms. Still, he admits that bitcoin can be used by those with nefarious intent.

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Fedosov sold his photographs as NFTs, which he said gave him funds to live on for “a few more months”.

Artyom Fedosov

“It’s an open-source network, it’s going to be used by enemies, it’s going to be used by friends,” he said. “It will be used by drug dealers, but it will also be used for charity. A knife can be used by a surgeon, it can also be used by a murderer.”

Fedosov’s story is coincidental. He has about $5,000 in ether, he says, because just three months before the invasion, he decided to convert money into ether in order to start trading NFTs – non-fungible tokens, which are registered on a blockchain. He only has bitcoin because in 2017 Fedosov worked for a Dutch company and said it was easier and faster to get paid his salary in bitcoin. In the years since his job change, the remaining fraction of a bitcoin in his wallet has grown from a few hundred to a few thousand dollars.

At the time, Fedosov thought bitcoin was a new alternative to traditional money. Now he thinks it can be just as reliable – and is grateful he didn’t spend his last bit of bitcoin all those years ago. When asked how he got the crypto to fall back on, he simply replied, “It’s pure luck, actually.”

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Data Breach Alert: Lake Shore Savings Bank | Console and Associates, PC https://howtooccupy.org/data-breach-alert-lake-shore-savings-bank-console-and-associates-pc/ Tue, 15 Mar 2022 17:21:52 +0000 https://howtooccupy.org/data-breach-alert-lake-shore-savings-bank-console-and-associates-pc/ Recently, Lake Shore Savings Bank confirmed that the company had suffered a data security incident leading to the compromise of the names, addresses and bank account numbers of certain customers. If you have received a data breach notification, it is essential that you understand what is at risk. the data breach lawyers at Console & […]]]>

Recently, Lake Shore Savings Bank confirmed that the company had suffered a data security incident leading to the compromise of the names, addresses and bank account numbers of certain customers. If you have received a data breach notification, it is essential that you understand what is at risk. the data breach lawyers at Console & Associates, PC is actively investigating the Lake Shore Savings Bank data breach on behalf of those whose information was exposed. As part of this investigation, we are offering free consultations to anyone affected by the breach who wants to learn more about the risks of identity theft, what they can do to protect themselves, and what their legal options may be. get compensation from Lake Shore Savings Bank.

Last year, 1,862 data breaches affected more than 189 million people. On average, victims of identity theft spend 200 hours and over $1,300 trying to find their identity. Many victims also suffer from emotional distress, credit damage, and may even end up with a criminal record. Taking immediate action is the best way to prevent the worst consequences of a data breach.

Learn more about the causes and risks of data breaches

Often, data breaches result from a hacker gaining unauthorized access to a company’s computer systems in an effort to obtain sensitive consumer information. Although no one can know why a hacker targeted Lake Shore Savings, it is common for hackers and other criminals to identify companies suspected of having weak data security systems or vulnerabilities in their networks.

Once a cybercriminal gains access to a computer network, they can then access and delete all data stored on compromised servers. While in most cases a business victim of a data breach can identify the accessed files, they may have no way of knowing which files the hacker actually accessed or deleted. Datas.

Although the fact that your information has been compromised in a data breach does not necessarily mean that it will be used for criminal purposes, being the victim of a data breach puts your sensitive data in the hands of someone unauthorized. Therefore, you are at increased risk of identity theft and other fraud, and criminal use of your information is a possibility that should not be ignored.

Given this reality, individuals who receive a data breach notification from Lake Shore Savings Bank should take the situation seriously and remain vigilant by checking for any signs of unauthorized activity. Companies like Lake Shore Savings are responsible for protecting consumer data in their possession. If Lake Shore Savings Bank is found to have failed to adequately protect your sensitive information, you may be eligible for financial compensation through a data breach lawsuit.

What are consumer remedies following the Lake Shore Savings Bank data breach?

When customers decided to do business with Lake Shore Savings, they assumed the company would take their privacy concerns seriously. And it goes without saying that consumers would think twice about giving a company access to their information if they knew it wouldn’t be secure. Thus, data breaches such as this raise questions about the adequacy of a company’s data security system.

When a business, government entity, nonprofit, school, or other organization accepts and stores consumer data, it also accepts a legal obligation to ensure that this information is kept private. US data breach laws allow consumers to pursue civil data breach claims against organizations that fail to protect their information.

Of course, given the recentness of the Lake Shore Savings Bank data breach, the investigation into the incident is still in its early stages. And, at this time, there is no evidence yet to suggest that Lake Shore Savings is legally liable for the breach. However, that may change as more information about the breach and its causes comes to light.

If you have questions about your ability to bring a data breach class action lawsuit against zLake Shore Savings Bank, contact a data breach attorney as soon as possible.

What should you do if you receive a data breach notification from Lake Shore Savings Bank?

If Lake Shore Savings Bank sends you a data breach notification letter, you are among those whose information was compromised in the recent breach. Although this is not the time to panic, the situation deserves your attention. Below are some important steps you can take to protect yourself against identity theft and other fraudulent activity:

  1. Identify compromised information: The first thing to do after becoming aware of a data breach is to carefully review the data breach letter sent. The letter will tell you what information about you was accessible to the unauthorized party. Be sure to make a copy of the letter and keep it for your records. If you’re having trouble understanding the letter or what steps you can take to protect yourself, a data breach attorney can help.

  2. Limit future access to your accounts: Once you’ve determined what information about you was affected by the breach, the safest game is to assume that the hacker who orchestrated the attack stole your data. Although this is not the case, prevention is better than cure. To prevent future access to your accounts, you must change all passwords and security questions for any online account. This includes online banking accounts, credit card accounts, online shopping accounts, and any other accounts that contain your personal information. You should also consider changing your social media account passwords and setting up multi-factor authentication where available.

  3. Protect your credit and financial accounts: After a data breach, companies often provide affected parties with free credit monitoring services. Signing up for free credit monitoring offers important protections and does not affect any of your rights to bring a data breach lawsuit against the company if it is found to be legally responsible for the violation. You should contact a credit bureau to request a copy of your credit file, even if you notice no signs of fraud or unauthorized activity. Adding a fraud alert to your account will provide you with additional protection.

  4. Consider implementing a credit freeze: A credit freeze prevents anyone from accessing your credit report. Credit freezes are free and remain in effect until you remove them. Once a credit freeze is in place, you can temporarily lift it if you need to apply for any type of credit. While freezing credit on your accounts may seem like overkill, given the risks involved, it’s warranted. According to the Identity Theft Resource Center (“ITRC”), freezing credit on your account is “the most effective way to prevent a new credit/financial account from being opened.” However, only 3% of data breach victims freeze their accounts.

  5. Monitor your credit report and financial accounts regularly: Protecting yourself following a data breach requires continuous effort on your part. You should regularly check your credit report and all financial account statements for any signs of unauthorized activity or fraud. You should also call your banks and credit card companies to report that your information has been compromised in a data breach.

Below is the portion of the data breach notification sent by Lake Shore Savings Bank:

Expensive ,

The purpose of this letter is to notify you of a data security incident experienced by Lake Shore Savings Bank which may have involved your personal information, and, as a precaution, we are providing information on steps you can take to help protect your information. We take the privacy and security of your personal information very seriously and sincerely regret any concerns this incident may cause you.

What happened? On November 24, 2021, Lake Shore Savings Bank experienced a data security incident that prevented employees from accessing internal systems and data. Upon discovering this incident, Lake Shore Savings Bank immediately launched an investigation and hired a digital forensics firm to help determine what happened and what information may have been accessed. The Lake Shore Savings Bank also notified the FBI and the Office of the Comptroller of the Currency of the incident. During its investigation, Lake Shore Savings Bank identified unauthorized access to certain data in its systems. Although there is no evidence that your personal information has been misused, out of an abundance of caution, we are notifying you of the incident and providing information on steps you can take to protect your information.

The incident did not involve access to any Lake Shore Savings Bank account, and there is no evidence of unauthorized or suspicious activity in your Lake Shore Savings Bank account(s).

What information was involved? The information may include your name, address and bank account number.

What do we do? As soon as we discovered this incident, we took the measures described above. We have also implemented additional safeguards to help keep our network secure to reduce the risk of a similar event occurring in the future.

Plus, we offer identity theft protection services through IDX, the data breach and recovery expert. IDX Identity Protection Services include:< 12 mois/24 mois>> credit monitoring and CyberScan, a $1,000,000 insurance reimbursement policy and fully managed identity theft recovery services. With this protection, IDX will help you resolve issues if your identity is compromised.

What you can do: We encourage you to sign up for free identity protection services by calling 1-800-939-4170 or by visiting http://app.idx.us/account-creation/protect and using the registration code provided above. Please note that the registration deadline is June 7, 2022.

Please call 1-800-939-4170 or go to http://app.idx.us/account-creation/protect for help or any other questions you may have.

For more information: More information on how to protect your information appears on the next page. If you have any questions regarding this incident, please contact 1-800-939-4170, Monday through Friday (excluding holidays), 9 a.m. to 9 p.m. Eastern Time.

Please accept our sincere apologies and know that we deeply regret any concern or inconvenience this may cause you. Thank you for your continued trust and support.

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Legal aid focuses on consumer protection | News, Sports, Jobs https://howtooccupy.org/legal-aid-focuses-on-consumer-protection-news-sports-jobs/ Mon, 14 Mar 2022 05:29:35 +0000 https://howtooccupy.org/legal-aid-focuses-on-consumer-protection-news-sports-jobs/ A staff member at a nonprofit law firm is warning Ohio consumers to be savvy when it comes to sales pitches that sound too good to be true. In recognition of the recent National Consumer Protection Week, Rachel Nader, Advocacy Director for Community Legal Aid, recently shared some advice for residents, warning them […]]]>

A staff member at a nonprofit law firm is warning Ohio consumers to be savvy when it comes to sales pitches that sound too good to be true.

In recognition of the recent National Consumer Protection Week, Rachel Nader, Advocacy Director for Community Legal Aid, recently shared some advice for residents, warning them to monitor their bank account activity and any fluctuations in their credit reports.

“Often a person doesn’t know they are a victim of identity theft or fraud until they have trouble opening a credit account,” Nader said in a recent statement. Press. “By then, significant damage has already been done.”

Community Legal Aid is a 501(c)3 nonprofit law firm that serves the legal needs of low-income people living in eight counties in central and northeastern Ohio, including Columbiana, Mahoning, and Trumbull .

Reviewing credit reports, Nader said, also helps consumers catch inaccurate information that may have landed on their file. Nader pointed out that it’s a consumer’s legal right to dispute items on credit reports. She noted that Ohioans can access these reports for free by visiting the website www.annualcreditreport.com.

Legal Aid staff also note that there has been an increase in fraudulent activity and scams. Most alarming is the growing number of “identity theft scams,” the press release says, where a caller says they are from a government agency, such as the IRS, Social Security or the Department of Work and Family of Ohio. Scammers may have concocted a fake website or phone number to legitimize their claims.

“Fraudsters prey on victims’ worst fears, threatening them with the worst possible scenario, such as jail, if they don’t comply with their demands,” Nader said.

In reality, she said, government agencies use regular mail and do not call, text or email to make these types of threats.

Therefore, she said consumers should not provide personal or account information. Instead, they are advised to hang up and, if in doubt, call the official agency number to verify the call.

In addition to “identity theft scams,” consumers can fall victim to “rescue scams” ​​that promise to help someone in trouble but offer no real service or value. This is especially common for people facing foreclosure, owing back taxes, or struggling with credit card debt.

“Ohioans should talk to an attorney before paying for services that promise to help them avoid foreclosure or get rid of debt,” Nader said, noting that Legal Aid attorneys offer this type of service.

Finally, Nader said consumers should know and enforce their legal debt rights. The nonprofit has seen an increase in credit card lawsuits in recent months, noting that creditors are stepping up collection efforts as the pandemic begins to wane, she said.

“If someone is being sued for consumer debt, it’s important to actively participate in the legal process,” Nader said, noting that there can be effective legal defenses and it’s unwise to ignore a lawsuit. in justice.

FOR YOUR INFORMATION …

• Ohioans struggling with debt can find information about legal solutions, such as bankruptcy, by visiting the organization’s website at www.communitylegalaid.org/debt. Further help may be available through their Financial Wellness Workshop, which gives qualified applicants the opportunity to speak to a lawyer for advice on their situation. To request assistance, call the helpline at 800-998-9454 or apply online at www.communitylegalaid.org/apply.

• Victims of impersonation or scams should contact the Ohio Attorney General’s Office by calling toll-free 800-282-0515 or visiting them on the web at www.ohioattorneygeneral.gov /.



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US Attorney’s Office Launches National Consumer Protection Week | USAO-WDNC https://howtooccupy.org/us-attorneys-office-launches-national-consumer-protection-week-usao-wdnc/ Mon, 07 Mar 2022 12:45:32 +0000 https://howtooccupy.org/us-attorneys-office-launches-national-consumer-protection-week-usao-wdnc/ CHARLOTTE, North Carolina — U.S. Attorney Dena J. King today announced that the U.S. Attorney’s Office is joining a range of government, nonprofit, and private organizations to raise awareness of widespread and emerging scams during National Consumer Protection Week. “National Consumer Protection Week is an opportunity to join forces with public and private agencies to […]]]>

CHARLOTTE, North Carolina — U.S. Attorney Dena J. King today announced that the U.S. Attorney’s Office is joining a range of government, nonprofit, and private organizations to raise awareness of widespread and emerging scams during National Consumer Protection Week.

“National Consumer Protection Week is an opportunity to join forces with public and private agencies to amplify the message against sinister scams and educate the public on how to identify scams and avoid fall prey to scammers,” U.S. Attorney King said. “The best way to protect yourself is to learn how to spot a scam and what to do if you are contacted by a scammer. We also encourage everyone to report suspected fraudulent schemes to help us track emerging scams and warn others.

According to Federal Trade Commission (FTC), in 2021, North Carolina residents submitted more than 64,000 fraud reports totaling $93 million in losses, compared to $74 million in 2020. The top categories of fraud reported were for imposters, online shopping, sweepstakes and lotteries, and internet services, among others. .

Spot the four signs of a scam can prevent consumers from falling victim to it. The signs are:

  1. Fraudsters pretend to be affiliated with a widely known organization, such as a government entity, law enforcement agency, utility company, or charity.
  2. The scammers claim that there is an imminent problem that requires immediate attention. For example, they claim that you or a loved one have legal or financial problems, your computer is infected with a virus, or your bank account has been locked.
  3. You are forced to take immediate action, including paying a fine or settling a debt to avoid arrest, paying for computer repairs to restore your data, logging into your account using a link provided, or pay a fee in order to receive lottery winnings.
  4. Scammers ask you to pay using a specific payment method, such as a gift card, prepaid debit card, wire transfer, or instant money transfer.

To avoid being scammed, consumers are encouraged to:

  1. Ignore unknown callers and block unwanted numbers and SMS.
  2. Do not open or reply to suspicious emails and do not click on suspicious links.
  3. Do not give out personal or financial information such as name, date of birth, social security number, bank account, or credit card number.
  4. Do not succumb to pressure tactics urging you to act immediately. Take your time to verify the legitimacy of the source and do your own research.
  5. Don’t pay using an unusual payment method such as wire transfers, instant money transfers, internet currency, or gift cards, or use your bank account to cash a check that you is sent by post.
  6. If you think you’ve been contacted by a scammer, tell a trusted family member, friend or neighbor.

It is equally important that consumers do their part to help us identify existing or emerging scams and help warn others. If you are scammed or believe you have been contacted by a scammer, report the fraud to your local police and file a complaint with the Federal Trade Commission and the FBI’s Internet Crime Complaint Center at ic3.gov.

To visit PNLT for a list of events throughout the week and for additional information on how to avoid scams.

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Coinbase Review 2022: Fees, Products, and More https://howtooccupy.org/coinbase-review-2022-fees-products-and-more/ Thu, 03 Mar 2022 04:11:33 +0000 https://howtooccupy.org/coinbase-review-2022-fees-products-and-more/ Select’s editorial team works independently to review financial products and write articles that we think our readers will find useful. We earn commission from affiliate partners on many offers, but not all offers on Select are from affiliate partners. Whenever someone asks how to start investing in cryptocurrency, Coinbase is usually mentioned as a good […]]]>

Select’s editorial team works independently to review financial products and write articles that we think our readers will find useful. We earn commission from affiliate partners on many offers, but not all offers on Select are from affiliate partners.

Whenever someone asks how to start investing in cryptocurrency, Coinbase is usually mentioned as a good place to start.

Founded in 2012, just three years after the creation of Bitcoin, Coinbase has since become the largest cryptocurrency exchange in the United States by trading volume, with over 73 million verified users in over 100 countries. .

Although the company offers a number of valuable products for retail and institutional investors, businesses and developers, its main feature is the ability to buy, sell and trade over 100 different cryptocurrencies and crypto tokens. . Its quarterly trading volume is currently $327 billion with $255 billion in assets on the platform following its IPO via a direct listing on the Nasdaq exchange in April 2021.

Although Coinbase’s transaction and trading fees are higher than some of its competitors, it is still one of the most popular applications for investing in cryptocurrencies.

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Coinbase Cryptocurrency Exchange Review

Coinbase

On the Coinbase secure site

  • Minimum deposit and balance

  • Costs

    0.5% – 4.5% per transaction. Fees vary by transaction type and other fees may apply.

  • Premium

    New Coinbase users can earn $5 in bitcoins after signing up.

  • Investment opportunities

    You can trade over 100 cryptocurrencies on Coinbase. You can also earn interest on a number of cryptocurrencies.

  • Educational resources

    Coinbase Earn allows you to earn crypto rewards when you learn about different cryptocurrencies.

Benefits

  • Over 100 cryptocurrencies available for trading
  • Simplified user interface
  • Low account minimum
  • Coinbase Earn feature that allows you to earn rewards when you learn about cryptocurrency

The inconvenients

  • Confusing fee structure and high fees compared to other crypto exchanges
  • Reports of poor customer service
  • Advanced trading tools not available on the normal Coinbase app

Products for Retail Investors

For retail investors, Coinbase offers the following products:

  • Coinbase – A simple mobile and website app for buying, selling, and trading cryptocurrencies and crypto tokens.
  • Coinbase Pro – An application for buying, selling and trading cryptocurrencies and crypto tokens with a user interface better suited to professional traders, providing charting tools, real-time order books and market data feed, among other features that more sophisticated traders would need for Trading. Trading fees are also lower on Coinbase Pro.
  • Coinbase Wallet – A standalone crypto wallet app that allows users to self-custody (in other words, users themselves can control their crypto, keys, and data). Coinbase users can hold over 4,000 cryptocurrencies, crypto tokens, and NFTs in their wallet, and can access a variety of decentralized applications, or dapps, through this feature. Note that it is very important that users securely store the 12-word recovery or seed phrase that allows them to restore their wallet if they forget their password, as Coinbase will not have access to this information. .
  • USDC – A cryptocurrency stablecoin pegged 1 to 1 with the US dollar; USDC users can receive 0.15% APY on their holdings.
  • Coinbase Card – A Visa debit card that allows users to spend their cryptocurrency at any merchant that accepts Visa and earn up to 4% back in crypto rewards on every purchase.

At just $2, Coinbase has one of the lowest minimum balance requirements of any crypto exchange, making it an attractive choice for new investors. The Coinbase Earn feature – which allows users to watch short educational videos, take short quizzes about them, and earn free crypto assets – is also attractive since users can earn Stellar Lumens, Flexa Network’s Amp tokens and The Graph’s GRT tokens, to name a few. .

Retail investors can pay higher fees to access the simple and elegant interface of the Coinbase app. By migrating to Coinbase Pro, users can save money on fees, especially if they hold higher account balances, but may be intimidated by the elaborate interface if they are unfamiliar with coinbase platforms. trading. While Coinbase Pro offers over 250 cryptocurrencies and crypto tokens to choose from, as well as more advanced features like stop and limit orders, the platform really doesn’t have all the tools that more sophisticated investors might want. wish to access, such as futures contracts.

Coinbase and Coinbase Pro include FDIC insurance protection up to $250,000. It should be noted, however, that insurance is only available if Coinbase encounters a hack or cybersecurity breach of its storage services – do not if a user suffers loss or theft due to a breach of their personal account. Also be aware that insurance is only reimbursed to users in the form of fiat currency, not cryptocurrency.

Coinbase fees

Products for corporate and institutional investors

Potential Disadvantages of Using Coinbase

At the end of the line

Editorial note: Any opinions, analyses, criticisms or recommendations expressed in this article are those of Select’s editorial staff only and have not been reviewed, endorsed or otherwise endorsed by any third party.

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You may have received your 2021 tax refund https://howtooccupy.org/you-may-have-received-your-2021-tax-refund/ Sun, 27 Feb 2022 20:44:42 +0000 https://howtooccupy.org/you-may-have-received-your-2021-tax-refund/ If you filed your taxes early and electronically, you may have already received your refund, … [+] according to tax. Getty If you filed your 2021 tax return early online, opted for direct deposit to your bank account, and the IRS found no “issues” with your return, check your bank account – you can see […]]]>

If you filed your 2021 tax return early online, opted for direct deposit to your bank account, and the IRS found no “issues” with your return, check your bank account – you can see your refund deposit. This is according to a February 24, 2022 IRS press release, “Tax Time Guide: Use the ‘Where’s My Refund?’ IRS2Go tool or app to easily check tax refund status. »

If you filed earlier but claimed the Earned Income Tax Credit or the Additional Child Tax Credit, the refund should arrive around March 1.

If you’re checking your bank account but have questions about where your refund is, there are two IRS sites that can help: Where’s my refund? and IRS2Go.

Tax refund details

If you go to Where’s my refund? page on IRS.gov, you can find details about your refund. You will need your Social Security Number or ITIN (Individual Tax Identification Number), as well as your filing status (single, married filing jointly, head of household, etc.) and the exact amount of your declaration.

Once you have entered this information online, you can view the status of your refund (return received, refund approved, refund sent). The IRS notes, “If you filed a complete and accurate tax return, your refund should be issued within 21 days of the date it was received. However, processing may take longer under certain circumstances.

IRS2Go is the official IRS mobile app. You can use the app to check the status of a tax refund. (If you need to make a payment, you can access IRS Direct Pay through the app.)

EITC and ACTC

As a reminder, the Earned Income Tax Credit (EITC) aims to offer tax relief to taxpayers with low or average incomes. You can check if you qualify by using the EITC wizard on IRS.gov.

The additional child tax credit, according to the IRS, is “a credit you may be able to take if you are unable to claim the full amount of the [Child Tax Credit].”

You don’t normally file a tax return?

Here’s another important reminder: if you don’t normally need to file a tax return, but you have children, you must file a return in order to get child-related tax credits, such as the child tax and the child care and dependent care credit. .

The child tax credit allows a taxpayer to receive up to $3,600 for each child aged 5 and under and $3,000 for each child aged 6 to 17 (ages are determined at the end of 2021). No income is necessary to claim the credit, but the qualifying child must have a Social Security number.

The child and dependent care credit allows a taxpayer to get a credit of up to $4,000 for one eligible person and up to $8,000 for two or more eligible people, depending on eligible expenses for the care of children or dependents while the taxpayer was working or looking for work. . For details, see IRS Publication 503.

Need help filling out your declarations?

The IRS offers two important resources to help file accurate tax returns.

The Tax Time Guide provides important information about tax changes and how they affect taxpayers, while Publication 17, “Your Federal Personal Income Tax,” is a 140-page guide with explanations and examples for 2021 tax returns.

Questions?

To follow the topics I cover, be sure to to follow me on forbes.com (and if you want to subscribe, check the red box in the top right). Write to me at forbes@juliejason.com. Include your city and state and mention that you are a forbes.com reader. While it’s impossible to answer every question, every email is read and reviewed and may lead to discussion in a future article.

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A student loan repayment app https://howtooccupy.org/a-student-loan-repayment-app/ Tue, 08 Feb 2022 21:10:33 +0000 https://howtooccupy.org/a-student-loan-repayment-app/ Select’s editorial team works independently to review financial products and write articles that we think our readers will find useful. We may receive a commission when you click on links to our affiliate partners’ products. Student loans have always been a major stressor for recent or upcoming graduates. As you navigate your first job, find […]]]>

Select’s editorial team works independently to review financial products and write articles that we think our readers will find useful. We may receive a commission when you click on links to our affiliate partners’ products.

Student loans have always been a major stressor for recent or upcoming graduates. As you navigate your first job, find housing, and try to save money, adding thousands of dollars in student loan debt can feel like a dark cloud hovering over your head.

The reality is that having trouble repaying your student loan can have negative effects on your financial and mental health. It can quickly become overwhelming, so your best bet is to have a plan in place for how to pay off your debt. That’s why apps like Chipper have been designed to help you optimize your loans and reduce your debts at a faster rate, making the path to debt elimination more realistic.

Chipper is a student loan repayment app that helps users manage their debt by introducing them to understandable loan forgiveness programs, lower monthly repayment plans, and a “Round-Ups” feature so you can get rid of your debt faster. If you need help paying off your student loans, especially since the federal loan forbearance period ends in May, Chipper is a good place to start.

Below, Select reviews Chipper’s features and fees to help you decide if this platform is right for you.

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Chipper app review

Characteristics

Chipper’s standout feature is its Round-Ups tool, which allows users to reduce their student loan balance with spare change from everyday purchases. Once their private or federal student loans are linked to the app, as well as their bank account, users will see their purchases made from their debit card rounded up to the nearest dollar and the difference will automatically go towards paying off their debt . This works similarly to the rounding feature in the Acorns investing app, which automatically deposits spare change into a diversified investment portfolio for you.

Chipper also connects you to federal student loan forgiveness programs you probably didn’t even know existed. After you link your loans and information to the app, it checks for discount plans you could potentially qualify for. Then you compare each program and after finding the right one for you, Chipper will guide you step by step through the application process.

If you don’t qualify for a rebate program, Chipper can still guide you through finding an income-based repayment plan and possibly help you lower your monthly payment.

In the future, Chipper users will eventually have access to cash back when they pay off their student loans. Moreover, they will be able to use the application to increase their credit. Keep in mind that Chipper is not a lender and therefore does not offer student loans or student loan refinance.

In order to save even more money, it may be advantageous to refinance your student loans. Refinancing allows you to potentially get a lower interest rate on your loan, which will lower your monthly payment and save you money in the long run. Select SoFi Student Loan Refinance ranked as the best overall company to refinance your student loans. However, keep in mind that if you have federal student loans and refinance them with a private lender, you may lose federal benefits, such as income-contingent repayment and government loan forgiveness.

The Chipper app is available for free download in the App Store (for iOS), where it has 4.2/5 stars, and on Google Play (for Android), where it has 4.4/5 stars, at the moment where this article was written.

Costs

At the end of the line

Editorial note: Any opinions, analyses, criticisms or recommendations expressed in this article are those of Select’s editorial staff only and have not been reviewed, endorsed or otherwise endorsed by any third party.

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Having a bank account is not always the norm https://howtooccupy.org/having-a-bank-account-is-not-always-the-norm/ Wed, 02 Feb 2022 01:14:00 +0000 https://howtooccupy.org/having-a-bank-account-is-not-always-the-norm/ KANSAS CITY, Mo. — Going to the bank, checking your account on the phone, cashing a check, transferring money to another account — it all feels like daily errands. But for 15% of Kansas City homes, that’s not the norm. KSHB 41 News looked at what it’s like to be unbanked and the downsides that […]]]>

KANSAS CITY, Mo. — Going to the bank, checking your account on the phone, cashing a check, transferring money to another account — it all feels like daily errands. But for 15% of Kansas City homes, that’s not the norm.

KSHB 41 News looked at what it’s like to be unbanked and the downsides that come with it.

Tamika Davis is proud of two things:

“A mother. Hard worker,” Davis said. “That’s about it. I work and I’ll be a mother.”

There were times when Davis worked three or four jobs at a time to support her daughters, but she always struggled to save money.

“They would be part-time; some would be full-time. It was like all I did, yeah, for a while was work, work, and everything I earned went to pay for bills,” Davis said.

Because of this, she had a back-and-forth relationship with banks. For a while, she didn’t have a bank account at all.

“It would get to a point where I can’t keep enough money anymore, so I’m closing accounts or whatever,” Davis said. “And then I could afford one – well, I think I could afford one – then open another.”

Davis was like 7 million other households in the United States who don’t have a bank account.

The 2019 Federal Deposit Insurance Corp. shows that the two main reasons people don’t have a bank account are that they don’t trust the bank and they don’t have enough money to maintain the account.

Communities of color, low-income families, and less educated people are more likely to be unbanked. Without a bank account, it can be more difficult to establish and grow credit, achieve financial goals, access loans, and run daily errands.

“Check cashout locations, I would use it,” Davis said. “Or either my prepaid cards would be direct deposits.”

The FDIC says unbanked people are more likely to use prepaid cards than those with bank accounts. These cards are easy to obtain, but they incur additional fees and do not accumulate credit.

Often someone can’t pay certain bills or make purchases online with a prepaid debit card, which means people have to take the time to pay their bills in person.

CHES inc.non-profit financial empowerment organization, is one of the institutions participating in the solution – a new initiative called Betting on Kansas City which helps low-income people open a bank account.

“These are accounts with very low minimum opening balance, as well as zero or very low maintenance fees, so whatever you bring to the bank, you can get a bank account and have access to the different advantages that it offers you,” said Justin Walker, Director of Business Development for CHES Inc.

Bank On partners with more than a dozen banks and metro organizations that will help people open an account.

“It reinforces that financial relationship of trust. So when it comes time to buy a house or buy a car, save for retirement, or consider your child’s education, you already have that financial partnership. trust in place,” Walker said.

Walker said he wants to make that option more attractive than resorting to a predatory payday loan service that charges outrageous interest fees and often traps people in a cycle they can’t get out of.

The Unified Government of Wyandotte County and Kansas City, Kansas is working alongside CHES Inc. through the Bank On initiative.

“A lot of times individuals may not have grown up in an environment where it was part of their daily lives, so it’s just an opportunity to try to incorporate that to give a legacy to their family,” said said Bridget. Cobbins, UG’s deputy county administrator.

Trust is a big hurdle. Communities of color have always been discriminated against in banking institutions, and the feeling of uncertainty carries over.

“I have a few friends,” Davis said. “They don’t deal with banks.”

Black and Latino households are more likely to be denied or not receive as much credit as they requested. However, the outlook is improving.

The number of unbanked Black households fell from 18.5% in 2015 to 13.8% in 2019, and the number of unbanked Latino households fell from 16% in 2015 to 12% in 2019.

Davis worked with Women’s Employment Network about their financial goals. She now has a bank account that helps her save for retirement and an emergency fund, as well as create a generational legacy for her daughters.

“It means a brighter future, and I’ve fought and fought to get here,” Davis said. “I’m glad it came to this, and I’m trying to teach them about money now.”

Although the number of unbanked households has declined in the Midwest since 2009, the numbers have increased here in metro Kansas City, from 5% in 2015 to 6.2% in 2019.

Initiatives like Bank On still have work to do.

The 2019 FDIC survey showed that 64% of people who have never had a bank account are not at all interested in opening one.

Two Americas is part of a KSHB and Scripps signature issue to help introduce our community to the America you know and the America you may not know. Our role as media is to share the news of the day, but we also seek to give voice to people we don’t often hear about.

Of course, there are many parts that make up our community, so we’re not showing you just two and we’re not pitting two sides against each other. Instead, we hope to highlight solutions and present different perspectives to help us better understand our region’s culture, our region’s past, and why our community feels the way it does today.

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Improve your credit with a debit card https://howtooccupy.org/improve-your-credit-with-a-debit-card/ Sat, 29 Jan 2022 14:34:06 +0000 https://howtooccupy.org/improve-your-credit-with-a-debit-card/ Select’s editorial team works independently to review financial products and write articles that we think our readers will find useful. We may receive a commission when you click on links to our affiliate partners’ products. For many, having a good credit rating is key to achieving many financial milestones in life, from getting a lower […]]]>

Select’s editorial team works independently to review financial products and write articles that we think our readers will find useful. We may receive a commission when you click on links to our affiliate partners’ products.

For many, having a good credit rating is key to achieving many financial milestones in life, from getting a lower interest rate on a loan to getting a higher credit limit. on your credit card. Credit cards are a way for people to increase their credit score with their daily purchases.

However, getting a credit card often requires a good credit score, so it can be difficult to start building your credit. However, fintech companies have been working on innovative solutions to help you build your credit score outside of traditional methods.

Extra Card created a debit card that allows people to build credit without a credit check or high credit score to qualify. Below, Select takes a look at how Extra Card works and the various features it offers.

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How can Extra be a debit card that improves your credit score?

Using an additional card may also impact your credit utilization rate. The credit utilization rate is the ratio between the credit you use and the total amount of credit granted to you. Your credit utilization ratio impacts the “amount owed” category of your FICO score. The “amount owing” category includes 30% of your credit score. Experts recommend keeping your credit utilization rate below 30%, or even 10% if you can.

Because the card is redeemed daily, your credit utilization rate will reset each day, Wimberly explains. When your credit utilization ratio resets frequently, you are more likely to have a low utilization ratio. Having a low usage rate also has a positive impact on your credit score.

The Extra card does not charge any APR or interest as you have to pay your balance daily. And unlike a credit card, Extra won’t let you spend more than you have in your bank account, so you won’t have to worry about overspending and potential debt.

To qualify for an Extra Card, you don’t need a credit score either. Extra does not perform credit checks, but potential cardholders must meet the following requirements:

  • Applicants must be 18 years or older
  • You must have an SSN or ITIN number
  • Applicants must have an address in the United States where you can receive your supplemental card (PO boxes are not valid)
  • Have a checking account at one of the 10,000 selected US banks
  • Have an iOS device (iPhone or iPad) or Android device running version 10 or later

According to Wimberly, 99% of applicants are approved for the card because all transactions on the card are guaranteed in cash. When cardholders sign up for Extra, they receive a spending limit based on the real-time balance of the bank account they choose to connect, Wimberly explains.

Fees and Rewards

Alternatives to the Extra Card

The extra fees can be quite a steep price to pay in trying to boost your credit score. You might consider alternatives like a secured credit card, which requires you to pay a deposit that serves as security if you do not pay your bills. Generally, your line of credit is equal to the amount of your deposit. Secured cards are much easier to approve if you have bad credit or no credit.

When Select analyzed various secure cards to determine which cards were best for people with no or bad credit who wanted to improve their scores, it ranked the Discover it® Secure Credit Card as the winner.

With the Discover it® Secured Credit Card, cardholders only need to put down a minimum deposit of $200 for a line of credit equal to that amount. Seven months after account opening, Discover will assess your credit card account to determine if you can upgrade to an unsecured line of credit.

If you don’t want to make a down payment, you might consider the “no annual fee” Visa® Petal® 1 credit card, which is aimed at people with non-prime credit who are looking to improve their scores.

The Petal 1 card has no annual fee, no welcome bonus, and earns 2-10% cash back at select merchants. With the Petal 1 card, you’ll have to make your monthly payments in full or risk having to pay interest. Unlike the Extra card, the Petal 1 card falls under the three credit bureaus, has no annual fees or foreign transaction fees (unlike Extra, the Petal 1 can be used abroad).

Plus, unlike the Extra Card, the Petal 1 Card is a credit card, so you’ll have a whole month to pay your bill.

At the end of the line

the Extra Card can be a useful tool for people who don’t qualify for most credit cards, but are looking to improve their credit scores. However, the card has a monthly fee of $8 or an annual fee of $84, so you might be better off getting a secured credit card with no annual fee in order to build your credit.

Secured cards will require a security deposit, but you’ll usually receive the deposit and qualify for an unsecured card after you’ve made your payments on time and in full for a few months. Extra Card also has drawbacks: your card history is not shared with the three credit bureaus and cannot be used abroad.

Check out Select’s in-depth coverage at personal finance, technology and tools, The well-being and more, and follow us on Facebook, instagram and Twitter to stay up to date.

Visa Petal 1 credit card is issued by WebBank, Member FDIC.

For Discover it® secure credit card rates and fees, click here.

Editorial note: Any opinions, analyses, criticisms or recommendations expressed in this article are those of Select’s editorial staff only and have not been reviewed, endorsed or otherwise endorsed by any third party.

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10 of the most hyped credit card features https://howtooccupy.org/10-of-the-most-hyped-credit-card-features/ Fri, 28 Jan 2022 00:29:39 +0000 https://howtooccupy.org/10-of-the-most-hyped-credit-card-features/ JTo stand out in the highly competitive credit card market, issuers often load their advertising with features and benefits that sound impressive. But the truth is, some just aren’t. Take “zero fraud liability,” for example. It’s not so much a feature as US federal law. Essentially all cards have it. Free credit score? If it […]]]>

JTo stand out in the highly competitive credit card market, issuers often load their advertising with features and benefits that sound impressive. But the truth is, some just aren’t.

Take “zero fraud liability,” for example. It’s not so much a feature as US federal law. Essentially all cards have it.

Free credit score? If it was 2010, it could be special. No more.

When choosing a card, it can be useful to know which features are snow work, added only to inflate marketing points. You can safely ignore them and focus on the attributes that really help you make a good decision, like annual fees, rewards, interest rate, and sign-up bonus.

The market is full of good credit cards right now, whether you’re looking for cash back, travel points, or a break on interest payments. When deciding on your next credit card, don’t be afraid to gloss over these marketing braggings.

1. Zero Fraud Liability

No one wants to be held responsible for unauthorized or fraudulent charges to their credit card when it’s so common. The number of “data breaches” in 2021 has reached an all-time high, many involving payment card information, according to the nonprofit Identity Theft Resource Center.

But American consumers have been protected from fraudulent charges for decades by the federal Fair Credit Billing Act. Technically, you could be owed $50 in some cases, but banks and credit card networks, such as Visa and Mastercard, generally waive liability. The fact is that it is not a special characteristic on which to base a decision.

2. Free Credit Score

Periodically checking credit scores is a good idea. And while you had to pay to get them, you usually don’t anymore. You can get them not only from your credit card company or bank, but also from various other third-party sources.

If you need access to your credit reports, on which the scores are based, you can get them at annualcreditreport.com. The three major credit bureaus announced in January that you can access reports weekly, instead of once a year, through 2022.

3. No overlimit fees

Credit cards used to charge penalty fees if you charge more than your credit limit. They usually don’t anymore, thanks to federal protections, namely the Cards Act of 2009.

“Overlimit fees that were common before the card law was implemented remained almost non-existent in 2019 and 2020,” says the latest market analysis from the Consumer Financial Protection Bureau.

Again, “no over-limit fees” is a nice-sounding marketing pitch, but it’s not a factor.

4. No foreign transaction fees (on travel cards)

Some overhyped marketing points depend on the type of card. For example, some cash back credit cards charge a foreign transaction fee – usually around 3% extra on anything you buy abroad. So if you’re trying to choose between two cashback cards and one of them doesn’t charge this fee, it may be a legitimate advantage.

But no self-respecting travel card should charge for them, and the vast majority don’t. Still, you can bet it’s going to be an important feature listed for some point- and mile-generating cards anyway.

5. Metal Cards

Choose a credit card based on the quality of the card itself, not its composition – or whether it clinks when you drop it on the table. Your wallet will thank you.

PS: It’s a headache to get rid of old metal cards.

6. Early Warning/Fraud Monitoring

Sounds good, right? “Get a warning of suspicious activity on your account.” But remember, this is for the sender, not you. You are not responsible anyway.

Additionally, if the issuer’s fraud algorithms are too much sensitive, you might end up with a bunch of declined or flagged transactions on legitimate expenses.

7. Card lock

Called various names – such as a freeze or a quick lock – this service essentially allows you to “disable” a credit card you’ve lost or misplaced, to thwart thieves. It’s a cool and potentially very useful feature, but it’s not unique, at least not anymore. Most major card issuers offer a card lock version.

And again, this is ultimately a feature to protect the transmitter, not you. You are not responsible.

8. Contactless payment

Also called “tap to pay”, this is often touted. But that’s not a differentiator because it’s almost standard now, at least among newly issued and replacement cards.

Visa said last year that 300 million Visa cards in the United States were contactless-enabled, representing a significant share of active credit and debit cards nationwide.

9. Mobile app

We are in 2022, when smartphones are ubiquitous. If your credit card account doesn’t have a mobile app, that should be a red flag.

Other common technical features that shouldn’t influence your card decision: EMV chip technology, compatibility with digital wallets, paperless statements, SMS/email notifications or the ability to automatically pay from a bank account or choose your payment date. That’s all standard fare now.

10. 24/7 customer service

Again, pretty much expected these days. (24-hour customer service doesn’t speak for the quality of that service, of course.)

It’s not outright deception when broadcasters make these fluffy claims; they really do offer those features. But the same goes for almost all of their competitors, and it would be a shame if those claims tip your decision towards the wrong card.

More from NerdWallet

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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