Check Cashing Which companies do not use security
US bank account
Set up a bank account
You can keep your money safe in a bank account. Banks offer different types of accounts. Checking accounts for paying bills and saving accounts that give you interest are the most common. You can open your own account or a joint account e.g. B. Set up with your spouse or someone else. The bank can charge a fee for certain services.
You can also deposit your money at Volksbanks (Credit Unions) and building societies (Savings and Loan Associations). Your employer may have a business account with a Volksbank that you can join. The services of the Volksbanken usually do not differ significantly from normal banks. However, many Volksbanks offer additional services. It is advisable to compare the services, fees, opening times and locations of the banks before opening an account so that you can choose the bank that best suits your needs.
Tip: Many shops offer the cashing of checks (Check-Cashing Services) or cashless international online money transfer services (Overseas Money-Writing Services), which, however, costs money. Please check whether your bank can offer you these services more cheaply.
When you open an account, you will need to provide proof of your identity. Your permanent resident card (GreenCard) or driver's license is sufficient for this. In addition, you must hand over a certain amount of money to the bank (deposit), which will be deposited into your new account. After a few days you will be able to withdraw funds from your account. You can withdraw money by writing a check, going to an ATM (Automatic Teller Machine, ATM), or filling out a withdrawal form (Withdrawal Form) at the bank.
Safekeeping of your money
If you keep large sums of cash in your apartment or house, there is no security. You shouldn't carry large sums of cash around with you either. The money could be lost or stolen. Your money is protected when you deposit it with a bank that is a member of the Federal Deposit Insurance Corporation (FDIC). The FDIC provides the banks with insurance that protects your money. If your bank has to close, the FDIC will pay you the amount of money you had in the bank, up to US $ 100,000. Make sure the bank you choose is FDIC insured.
Use of your bank account
You can withdraw funds from your account using a personal check or ATM card. Make sure that only you and, if applicable, your co-owner have access to the account.
When you open your current account, you will receive what are known as personal checks. These are forms that you fill out and use to make payments. On the checks, the bank can see which person or company should receive the money. Keep the checks in a safe place.
You can ask for a debit card at your bank. This little plastic card is linked to your bank account. With the help of the ATM card you can withdraw money from your account at an ATM or you can deposit money into your account. As a rule, there are no fees if you use the bank's own ATMs for this. If you deposit or withdraw money at another bank's ATM, fees may apply.
The bank employees will show you how to use your debit card correctly and will give you a personal identification number (PIN), which you will need at the ATM. Be very vigilant when using an ATM. Never give your PIN or your debit card to anyone else. Your PIN and debit card could be used by someone else to withdraw money from your account.
Your bank may give you a debit card for your checking account. Sometimes your ATM card can be used as a debit card. Debit cards allow you to pay for anything without writing a check, as your bank will send the money directly to the store where you bought something.
Cashier's checks are checks made out by the bank at your request. First you give money to the bank, which then writes a check for the same amount to the person or company you want. The bank may charge a fee for issuing a cashier's check.
Credit cards, also known as "charge cards", allow you to make purchases and pay later. Banks, shops and gas stations can issue you credit cards. You will receive a monthly statement in the mail for purchases made with your credit card. If you pay the entire invoice amount upon receipt of the invoice, you do not have to pay any interest. If you do not pay the full amount immediately, or if you are late in making your payment, you may incur interest and an additional fee. Some credit cards have very high interest rates.
Be careful if you give your credit card number to anyone else, especially over the phone or on the Internet. Make sure you know and trust the people or companies requesting your credit card number.
Tip: Check your credit card statement every month to make sure all entries are correct. If any costs are listed that did not come from you, contact the credit card company immediately. Typically, if you report this immediately, you will not have to pay for amounts for which you are not responsible.
Make a note of the numbers of all bank accounts as well as debit, cash and credit cards. Also make a note of the phone numbers of all companies. Keep this information in a safe place. If your wallet is lost or stolen, you can contact the companies and have all your cards blocked. This means that no one else can illegally use your debit, money and credit cards.
Your credit rating
In the US, how you handle your credit is important. There are organizations that provide a credit score or credit rating based on how you settle your bills, how many loans you have taken out, etc. This credit rating is very important when you are buying a home or car or want to take out a loan. Some points for a good credit rating are listed below:
- Pay all bills on time.
- Keep your credit card balance as low as possible. Pay at least the minimum monthly amount.
- Don't take out too much credit or get too many credit cards.
Federal law allows you to request a free credit report once a year. You can request a copy of your credit report by calling + 1-877-322-8228 or online at http://annualcreditreport.com.
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