BUS Week 4 DQ 1 & 2 Banking Features And Tools

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timer Asked: Jan 26th, 2019
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Answer the questions in 100 word count each and reply to other peers post.. one question must answered tonight!

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 Practice: Week 4 Discussion Question 1 

Explore the tools provided for customers on a banking
website. 

Answer the following questions:  

  • What tools are available?  
  • What are the pros and cons of using these tools? 

2. Week 4 Discussion Question by Tameka-My local bank offers several tools on its
website. These features include, mobile and Internet banking, access to
statements, tools for budgeting expenses, opening new lines of credit as well
as new accounts. Other features include the ability to pay bills, send money,
make mobile deposits, and transfer funds between accounts and other banks. My
bank also includes financial tools such as planning and advising for purchases,
investment guides, and courses on financial know how.  Members of the bank
also have access to rates, rewards and perks, and fraud protection. The biggest
pro about the website is access and convenience. Whenever I need to make
payments, check my balance, report a card stolen, or transfer funds, I am able
to complete all these features on the website. With 2 step verification I have
access to everything I need without having to spend large amounts of time in
the bank or hold on the phone. The ability to complete transactions without
visiting the bank has made making payments and deposits easy, quick, and safe
to use.  

  

3.Banking Website by-James-Depending on the bank will dictate what tools they will have
available for on line banking. If your with a bank that is purely on line then
more tools will be available and they will push those tools. However, a smaller
bank will have less tools available for on line use and the focus will be on in
person transactions.  

  

In general the base tools are an account view and check deposit on line. While
other tools that can be available are activate a card, deactivate a card,
dispute a transaction, and order checks. If the site is secured enough the
account number and the bank identification number. 

  

4.Bank of America car loan by Janett- 

Hello, 

  

Looking through Bank of America's Website on car loans to estimate the payment.
Scrolling down, it provides us with information on our credit scores and brings
us to a screen called better money habits, credit score 101.  I think it's
neat that the bank can let you browse and learn more without entering
confidential information.  The 101 guide to better finances provides us
with 8 simple ways to save money. 

  

Since I bank with them, I have access to all of these tools on the mobile app and the
online site. 

  

5. Practice: Week 4 Discussion Question 2 

  

Read the Credit Reports and Scores page until you find something interesting
you did not know about credit before visiting the page.  

If you are already aware of everything on the site, choose
something you feel would be the most important bit of information your
classmates should know.  

Incorporate the following into your discussion:  

  • What topic would help you your classmates? 
  • How is this topic related to our chapter readings for this week? 

6.Credit Reports and Score by Monica- 

I found the 'Credit Freeze' were helpful for everybody. Not only to prevent identity
theft but also to protect from ourselves if we know that we cannot control are
finances. I did not know that we could put a freeze on our credit, this prevent
us to get more credit that usually we do not need, because creditors cannot
access to our credit history and they will denied any credit application. Also,
we can protect our kids' credit. I think this is awesome. I had a coworker that
received a court notification for her little boy (6 years old). His social
security number was used by someone to open credit cards accounts. He had a
debt above the $10000. She had to do a lot of documents to prove that he was
not able to ask for credit cards. It was a long process for her.  

Practice: Week 4 Discussion Question 1 Explore the tools provided for customers on a banking website. Answer the following questions: • • What tools are available? What are the pros and cons of using these tools? 2. Week 4 Discussion Question by Tameka-My local bank offers several tools on its website. These features include, mobile and Internet banking, access to statements, tools for budgeting expenses, opening new lines of credit as well as new accounts. Other features include the ability to pay bills, send money, make mobile deposits, and transfer funds between accounts and other banks. My bank also includes financial tools such as planning and advising for purchases, investment guides, and courses on financial know how. Members of the bank also have access to rates, rewards and perks, and fraud protection. The biggest pro about the website is access and convenience. Whenever I need to make payments, check my balance, report a card stolen, or transfer funds, I am able to complete all these features on the website. With 2 step verification I have access to everything I need without having to spend large amounts of time in the bank or hold on the phone. The ability to complete transactions without visiting the bank has made making payments and deposits easy, quick, and safe to use. 3.Banking Website by-James-Depending on the bank will dictate what tools they will have available for on line banking. If your with a bank that is purely on line then more tools will be available and they will push those tools. However, a smaller bank will have less tools available for on line use and the focus will be on in person transactions. In general the base tools are an account view and check deposit on line. While other tools that can be available are activate a card, deactivate a card, dispute a transaction, and order checks. If the site is secured enough the account number and the bank identification number. 4.Bank of America car loan by JanettHello, Looking through Bank of America's Website on car loans to estimate the payment. Scrolling down, it provides us with information on our credit scores and brings us to a screen called better money habits, credit score 101. I think it's neat that the bank can let you browse and learn more without entering confidential information. The 101 guide to better finances provides us with 8 simple ways to save money. Since I bank with them, I have access to all of these tools on the mobile app and the online site. 5. Practice: Week 4 Discussion Question 2 Read the Credit Reports and Scores page until you find something interesting you did not know about credit before visiting the page. If you are already aware of everything on the site, choose something you feel would be the most important bit of information your classmates should know. Incorporate the following into your discussion: • • What topic would help you or your classmates? How is this topic related to our chapter readings for this week? 6.Credit Reports and Score by MonicaI found the 'Credit Freeze' were helpful for everybody. Not only to prevent identity theft but also to protect from ourselves if we know that we cannot control are finances. I did not know that we could put a freeze on our credit, this prevent us to get more credit that usually we do not need, because creditors cannot access to our credit history and they will denied any credit application. Also, we can protect our kids' credit. I think this is awesome. I had a coworker that received a court notification for her little boy (6 years old). His social security number was used by someone to open credit cards accounts. He had a debt above the $10000. She had to do a lot of documents to prove that he was not able to ask for credit cards. It was a long process for her. USA.gov. (2018). Credit Reports and Scores. Retrieved from: https://www.usa.gov/credit-reports 7.Equifax by Preston-Indeed, this is certainly an interesting subject matter, because of the simple fact that this could definitely could have a negative affect on anyone, so I had found it to be extremely important that an individual could possibly keep track of any negative activities that might hurt their credit. For example, I had discovered that (Equifax) had created a tool that would make it aware of any negative data breach that could affect its consumers and therefore, a program was developed to enable the company in monitoring any unusual activities that might cause a threat to any of its customers. This process simply place the company in a perfect position to make its customers aware of hackers that could possibly access their social security numbers, birthdates, addresses, and driver license numbers as well. So! (Equifax) the company has offered its customers a free credit monitoring services. 8.By Rilla-I feel the information about the Equifax Data breech was the most important information everyone might not be aware of. Not everyone is aware this breech can affect them, even though they have not knowingly had interactions with Equifax. So much of our personal financial information is stored by these large organizations that, even if you don't personally use the online banking tools, or even have credit cards, your data is exposed. Knowing what to do if your accounts are breached, as well as your rights as a consumer is important. By using free credit checks you can ensure someone isn't using your information to open accounts illegally. Another reason to check your credit scores is to correct mistakes. I have found small items, or listings of missed payments, that were not accurate. You can file a form to receive proof the data is accurate or have the mistake removed.

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