Give Them Something They Can Actually Use

You only have a couple of years left before the kids head off to college.  Many are working part time over the summers raising money for school.  This is a perfect time to give them something they can use.  Give them their own account.  Use this time to teach them how to check their balances, work with budgets, and manage their money.... BEFORE they move away.

Compare The Cash Management Card to standard checking accounts and you will be pleasantly surprised.  Check balances, shop online, shop anywhere you see the VISA logo and get cash back with purchases... all for less than $5.50 per month.  And guess what......  NO OVERDRAFT FEES... EVER.

Since the account belongs to them, they take the cards with them to college.  You can transfer funds to their account for tuition, housing, food, and yes,... football games.

Remember,... The Cash Management Card is a VISA Debit card so it is accepted anywhere in the world you find the VISA logo.

Check Out Fees For Credit Cards?

Actually, yes.  January 27, 2013 marked a change in the way that retailers are allowed to handle credit card transactions.  Retailers now have the option of passing on swipe fees to consumers, which can be anywhere from 1.5% to 4.0% of the total purchase.

MSN Money rightly describes the impact on consumers: "In yet another example of how nobody seems to understand American consumers in the slightest, a settlement that went into effect on Sunday allows retailers to charge a "checkout fee" of up to 4% on credit card purchases to offset swipe fees charged by banks and credit card companies."
http://money.msn.com/now/post.aspx?post=f23dbce1-35e8-49ef-9d10-cebc45afeab0

This is yet another reason to consider The Cash Management Card, which is a personalized VISA Debit card.  Debit cards are exempt from these charges.  Just when we finally got used to being asked, "paper or plastic?", our new question will be "debit or credit?"

Choose debit.  Choose The Cash Management Card.

Forty States and Counting

Cash Management, LLC now has clients in forty states.  The Cash Management Card is compliant in all fifty states so we have ten more to go.  Our success is no surprise.   During challenging economic times people look for ways to save money.  The Cash Management Card is an option you should investigate.  People in forty states would tell you it's a good idea.

Is This Really A Good Time For Banks To DOUBLE Their Fees?

According to bankrate.com several Dallas banks have raised their rates ... again... in some cases by as much as 150%.

For interest bearing accounts, both  Bank of America and BBVA Compass raised the minimum balance to avoid fees by at least 100%.  Bank Of America increased their minimum balance from $5,000 to a new minimum of $10,000.  Likewise BBVA Compass raised their minimums 150% going from $2,000 to a new minimum of $5,000.  It appears they were just making moves other large banks already have, such as Chase Bank's minimum balance to avoid fees at $15,000 and Wells Fargo topping the list at $25,000.

Comerica Bank, while leaving their minimum balance for interest bearing accounts at $2,500 did raise their monthly fees by 25%  from a $12 monthly fee just three months ago to a new monthly fee of $16.  This new fee is still lower than Chase and Bank of America who both charge $25 a month.  Wells Fargo tops the list again with a monthly fee of $30.

There were also increases in non-interest bearing accounts.  Wells Fargo raised their monthly fees by 80% from $5 three months ago to a current monthly fee of $9. Comerica Bank literally doubled their fees from a $5 fee to a new monthly fee of $10.  Much like the movement for interest bearing accounts, it seems that Wells Fargo and Comerica were just playing catch up to the already larger monthly fees posted by Chase, Bank of America and BBVA Compass, all of which have monthly fees of $12 or more.

The overdraft fees charged by all banks did not increase,... yet.

These rate increases are coming at a time when many people can least absorb them.  As banks continue to find ways to stave off losses, the lower income family gets squeezed.

The Cash Management Card will help to alleviate some of the pain.  You can use our card for less than $5.50 per month.  This gives you access to all of your money, the ability to shop online, pay bills online, with free unlimited POS purchases and free unlimited POS cash back... and with NO OVERDRAFT FEES.

What If You Could Put An Additional $100,000 On Your Company's Bottom Line?

What would your bottom line look like with an additional $100,000? Do you think that sound outrageous?  Actually, if you have 350 employees that are currently receiving paper paychecks on a weekly basis, it's not outrageous at all.  In fact, it's quite possible.

According to SmartBusiness, a company can save over $6.00 per transaction by using direct deposit instead of a paper check.  That's an annual savings of $312 per employee if he is paid weekly.

CLICK HERE to read the article.

If you have 350 employees that receive paper checks on a weekly basis, the model shows a direct annual impact to your bottom line of $109,200.

What about companies that have 3,500 employees paid weekly with paper checks?  How does over a million dollars sound?  You read it right,... six zeroes.

Call us for help. 1-800-360-2232.

Free Checking Becoming Extinct?

Is free checking becoming a thing of the past?  It certainly looks that way.

In an article found today in the Huffington Post, it says:

"If free checking accounts were animals, they'd be on the World Wildlife Fund's list of endangered species."

Read the entire article here:

http://www.huffingtonpost.com/2012/09/24/free-checking-account-cost-of-banking_n_1909504.html

Find out how The Cash Management Card is more cost effective than standard checking accounts.

The Cash Management Card May Be Your Solution To Higher Bank Fees

A study by bankrate.com shows that many consumers are experiencing increases in monthly service fees for bank accounts for the first time in several years.

According to the study, "Just 65 percent of noninterest accounts wee free from monthly fees or balance requirements, the hallmark of a free checking account.  That's down from last year, when 76 percent of checking accounts were free, and it reverses a trend of free checking accounts grabbing a steadily larger share of U.S. bank offerings."

The minimum balance required to maintain the account also spiked up sharply.  In 2009 the average minimum balance was $185.75 while in 2010 it rose to $249.50.

The report go on... "Add "rising ATM fees" next to death and taxes on the list of life's inevitabilities. Bankrate's 2010 Checking Study shows the decade-long trend of rising fees on ATMs continuing. The average surcharge charged by another bank ATM providers to make a transaction rose from $2.22 to $2.33."

To read the entire report go to:  http://www.bankrate.com/finance/checking/7-key-checking-trends-for-the-coming-year-1.aspx

The Cash Management Card can help offset the rising cost of opening and maintaining a standard checking account.  Find out more by visiting our website: http://www.thecashmanagementcard.com/

Companion Cards ... Never Wire Money Again

Many people wire money to friends and family in other countries.  The cost for a wire transfer runs from $10 to $25 depending on the amount of money transferred.  After the money is wired, the person receiving the wired funds then pays and additional charge to drive somewhere and retrieve the funds, sometimes in areas noted for higher crime.  By getting a Companion Card from Cash Management, wiring money is a thing of the past.  The funds become available at the same time the funds hit the primary cardholder's Cash Management Card.

It is much safer, much quicker, and saves money.  What's not to like about that?

For more information, click on the link below:
http://www.thecashmanagementcard.com/OrderCompanion.aspx

More People Opt Out of Banking Systems

Data from a recent study found that over 800,000 households opted out of the banking systems from 2009 to 2011.  In that same time period the "unbanked" population grew to 8.2 percent of all American households.

The study also found that over 28% of those households either had one or no bank account.  A full third of these said they did not have enough money to open and fund a traditional bank account.

Several banks have notified their customers of intentions to raise fees on checking accounts and have, in may cases, already raised overdraft fees.  Banks are saying that these hikes are necessary to help offset losses from the cap on debit card transaction fees imposed by the government.

Banks also admit that it is becoming difficult to make a profit by serving the lower income individuals because the cost of managing their accounts outweighs the return.

The Cash Management Card has become a smart option for those who do not have, and in some cases do not want, a traditional bank account.  

Payroll Cards Are Here To Stay

Parts of the following are taken from an article on paperlesspay.org.

Payroll cards typically offer ATM withdrawals and Point-of-Sale purchases (where a merchant has a PIN pad at the checkout counter). You simply swipe your card and enter your PIN number to complete your transaction. Some cards also offer the ability to get cash back along with your purchase – a common option that you’ve seen at most grocery stores.

Cards that are “branded” – and look like a Visa Card or MasterCard – allow you to sign for purchases anywhere the brand is accepted. With this version of the payroll card, the dollar amount of the purchase is authorized and the transaction is completed when you sign the receipt. You may also use a payroll card to make catalogue and online purchases. Once you receive your payroll card, you keep it for as long as you work for your employer. 

With its cost, time-saving features, convenience and security benefits, one thing is for sure - the payroll card is an attractive, new way to get paid – and it’s here to stay.