Debit Card And Direct Deposit Order Form A. Employee: Fill & Download for Free

$1000 cash in an FDIC-insured bank account is equivalent to cash form, as far the US government backing it. With the FDIC protection, a bank has many obvious advantages compared money under the mattress.The money will not get stolen or lost in a fire. Money does get stolen out of bank accounts, of course, but consumers are made whole in the US.You can use a debit card. If the debit card is lost or stolen, you do not suffer personal losses.Banks do have several expenses for deposits, which they pass through to customers one way or another. Costs include:Upkeep of retail branches and paying retail employees.Maintaining ATM’s (putting cash in them, etc)Handling checks, including making customers whole for check fraud.Issuing debit cards. Customers are made whole like check fraud, but liability is shifted more to merchants after EMV.Anti-money-laundering costs, which have become more significant recently (i.e. flagging suspicious transactions, knowing beneficial owners of accounts).Previously, banks would give “free” checking backed by debit card fees and overdraft fees in addition to interest income. Now banks have to charge fees directly or have a high enough balance to pay their costs. Merely $1000 would be too low of a balance for a free account at traditional bank.Bank of America would have $5.00 per month account fee for an account without checks and $12/month for an account with checks. The $12/month fee is waived if you have $1500 minimum balance for that month or a direct deposit of at least $250.A free account is still available at online banks, especially without checks. I use Simple Bank myself and they do not issue checks. They will mail cashier’s checks, which takes 10 business days, but I do have to get money orders sometimes when only checks are accepted.To actually earn interest, Simple bank has a very poor rate and savings accounts at other online banks would be better. The highest rates are now around 1.55%.You can also buy T-bills or I savings bonds from Treasury Direct. T-bills yield 1.65% for 30 days, up to 2% for 1-year bills. You can also buy an I savings bonds from the US government directly, which is 0.1% plus the CPI rate of inflation (around 2%). I savings bonds cannot be redeemed within 12 months and redeeming 1–5 years costs the last 3 months of interest. The only thing is you need a regular bank account with the $1000 to fund TreasuryDirect with ACH.

I will summaried for you important areas about each topic for you.A bank account is an account created specially for you where your money is kept safe. There are many types of bank accounts. Some accounts are checking: Some checking accounts require you to maintain a certain amount or else you will have to pay a monthly amount to keep the account open while other checking accounts dont require you to maintain any balance.Bank savings accounts are similar to checking accounts. They also must maintain a minimum daily balance while others don't. Savings accounts are designed for saving money instead of spending and some savings accounts even have the potential of earning some interest to your savings but it is not a lot.Both checking and savings accounts provide checks which you can use to pay a bill or send money to somebody, they can even be used to pay rent. If you have only certain amount of money left in either one of those accounts and you make a purchase for a greater amount then you will be charged what is called an overdraft fee. An overdraft fee happens when you buy something of greater value than the amount that is in your account.There are many befefits for having a bank account which are: you can take your job paycheck for your bank to cash or deposit into your account and that way, you dont have to pay check cashing fee at places for cash checking places or you could have your paycheck directly deposited into your account on your payday and the money would be available right away. The way to do direct deposit is by filling out the direct deposit form and guving it to your job's payroll department.You can also pay your bills online or make a money tranfer to somebody online by having either a savings or banking account. You also have the benefict of autopay or autobill in which you set up one time your payment for a bill and then the system will automatically pay that bill for you every month without you worrying about it.Banks also have what is called a bank CD or a fixed deposit account. This accounts can make your money grow but in order for it to work; you must deposit large amounts and the money must be there at least one year. Most banks require a minimum deposit of 1000$ but to really see some grow you would need to deposit 10,000. You cannot touch any of that money during the agreed period of time or else you will be charged a penalty fee.Banks have business accounts;these are special accounts with many features designed for people who own a businesses like a convinience store, a telephone store, a shoe store, a restaurant.Banks have corporate accounts; these accounts are designed for large companies and come with many features to help the company manage their finances and the payroll of their employees.The process to open a bank account for most banks is that you must show an official personal identification card and proof of address along with other requirements like social security number or the pan card or the Iquama for some countries.Now you want to know about the debit/credit systems:A credit card is a card issued to you by some creditor, usually this creditor would a bank or some financial institution. The credit card comes loaded with funds that are not yours but you were approved to use and you must pay back those funds eventually. You are free to use some or all of the funds in that card anyway you want. However, you must pay back by monthly payments until you pay everything back or by paying the whole amount at once. There are many consequences for not paying a credit card balnce which becomes a debt.Debit: Debit cards are cards connected to your personal bank account so the money that your spending is yours. These cards work by swaping it into the card payment processor machine at the stores and entering the unique pin number connected to the card.The differences between a debit and credit card is that the money on a credit card is not yours but you have been authorized to use it with the promise of paying the money back. On the other hand, a debit card is a card that holds your money. Usually you would have to sign your name everytime you use your credit card and you have to enter your pin code everytime you use your debit card. Both cards are good to buy things online or in person at the stores. You can also withdraw money from an ATM machine by using any of those cards.Now the PayPal system. PayPal is an online payment system used to buy things online, send or receive money. Merchants can also use paypal to receive payments from their customers. Paypal works by connecting your debit card number or bank account number through it and that account number will be verified. PayPal is secured and one of the oldest payments systems online. PayPal is international but some countries do not support PayPal.

What you experience as a teller seems to vary on not only the bank you work for, but the branch you work in. For instance, my experience as a teller is probably very different than those in a lot of other bank branches because I work at a branch that has a lot of higher end clientele. We do a lot more catering and hand-holding than other branches do, and sometimes have to bend the rules a little to get things done.My day starts with me putting up my stuff in a secure area in the break room. If I’m opening, I disarm the alarms and do the morning walk-through with another teller. Then we deal with all the daily duties like getting the work together from earlier that week to send to the main office, putting together the sell for the armored truck, or auditing one of the many machines or vaults we have.I get out my drawer, boot everything up, finish putting the Nightdrops in the system, and then I wait. The morning is usually slow, so we spend a lot of time talking and trying to entertain ourselves… or trying not to fall asleep. Businesses show up a little later in the morning usually or throughout the day. And from there its an array of change orders, trying to sort out the mass of bills and checks sometimes neatly put together and sometimes crammed in a bag with such little care that it could take you 5–10 mins just to sort into some sort of order. But you get through all that and then you wait some more… and you wait some more…. and you wait some more… Given, a lot of branches are actually busy, so there is very little waiting involved, and much more trying not to lose your mind. But this is my branch.There’s a lot of checks being cashed, checks and bills being deposited, and people asking what their balance is. You get the occasional person bringing in their change to cash out. Or you get to let someone into their safe deposit box. That’s all the easy part of being a teller.The hard part is the questions you have to answer and the regulations that you have to follow. Telling people “I’m sorry I can’t do that,” and then having to try and explain why, because they don’t understand. It’s a lot of filling out forms. If I had a dollar for every slip I’ve had to fill out for someone I would’ve nearly doubled my paycheck every month. All of that is monotonous, though. And it can drive you crazy after a while. But the part of my job I really enjoy are those rare instances when I feel like I can actually really help someone. To put in the extra mile and teach someone who’s concerned about counterfeit 20s in her yard sale how to tell the difference between what’s real and what’s fake. To teach someone who doesn’t know English very well how to write out English numbers on his checks so he can pay his employees. It’s painstakingly going through every transaction with someone on their banking statement and showing them the result until they’re satisfied. It’s teaching high school kids how to fill out their first bank deposit form. It’s letting someone know their driver’s license is about to expire. It’s always been the small things that really make the job worth doing to me.But in between all of that, there are the vast arrays of paperwork that have to be done every day. Phone calls for all the check, debit card, and foreign currency orders. Followed by writing out hold logs. Trying to fill private banking’s little tasks. Occasional product phone calls can be assigned, which can take anywhere from one minute to an hour and thirty depending on the number of calls and the type. There’s filling out the occasional credit card application for a customer or a direct deposit request form. Then there’s the federal reporting forms that have to be filled out occasionally depending on the circumstance. In our branch, we also get a large amount of loan work that gets sent our way, so that takes up some time as well—completing their transactions and being essentially front-line secretaries. There are of course sales goals to fill, but at least in my bank, my job doesn’t rely on me reaching my goal.Even with all that seriousness, some of it can be very funny. Like the truck who ran over lane 4. Or the fact that our ATM is constantly on the fritz and has a taste for eating people’s checks. Or when we’ve accidentally sent two tubes to the same lane. Or that guy who came in wanting to withdrawal $2000 in 1s for a wedding… or someone who chose to deposit an entire tub full of coin. There are days when I go home wanting to scream, and then there are days when I smile from ear to ear, but in the end, I love my job. It may not be an end game for me, but I have very few complaints. I work for a good company, and for now, that’s good enough for me.As for advice… the only thing I can tell you is… try to find joy in the small things. Be kind and people will often be kind to you.