Online banks mostly have a set of rules and regulations for online dealing which they explain prominently on their website. To ensure safety of your data, online banks usually go for the direct-modem connection rather than the open access internet. If the latter is the case, very capable computer geniuses use encryption codes with high end algorithms such that your data cannot be accessed (hacked) by anyone other than the intended user. Other than that passwords and your PIN (personal identification number) are to be provided each time an online transaction is made. Both can be changed as many times as you like.
Also you need to be sure the security is operating properly e.g. on internet browser you will see a padlock symbol which reads “SSL Secured (128 bit)”. This SSL protocol ensures a high security level of the encrypted kind between your web browser and the bank’s server. Finally, you need to keep your eyes open to see the address bar and make sure the exact URL of the bank. Banks have to maintain high level security to save important data and win the trust of customers.
Reads https: instead of http: the extra ‘s’ is proof of a secure connection.
There are instances when online banking isn’t so safe. Firstly, it can be the attacked of hackers into the main banking computer system. Secondly, those cute little hyperlinks urging you to ‘click’ do NOT take you to your bank’s site, but somewhere else totally. Thirdly, ‘spy ware’, which comes from installed software, gathers your private information for advertising purposes by a background mafia. Fourthly, employee theft cannot be ignored. There is not much you can do here as you are prone to this risk even when paying your restaurant bills.
If you like to educate yourself and get protection against online transactional risks you can do the following things.
• Do not respond to amateurish looking emails (seemingly) from your bank that’s prompts you to enter your account details on a website.
• Use virus doctors which monitor your spyware or adware if any have crept into your computer.
• Besides the bank having a firewall you can opt for one too so that it monitors all dealings on your internet connection.
• Anti-virus software helps a lot too by checking all software that you download besides warning you of any creepy, suspicious files, videos etc.
• Don’t tick the option that asks you ‘do you want Windows to remember your password” as anyone can easily access your info by pressing enter.
• Do not use PCs at unknown places like internet café or even friend’s place.
• Don’t use very common words like your name, sir name DOB as password.
In any case, just be on your toes and keep your eyes open to any news in circulation about online transaction safety.
Tuesday, January 25, 2011
Monday, January 17, 2011
Insurance in Canada
There are many companies that provide insurance in Canada. It is true that most of them are not as well known as U.S. carriers, but they provide vital services to Canadians nonetheless. Some of the carriers include companies such as Assumption life which is based in B.C., they offer a number of options to those seeking insurance, group benefits and plans offering critical care insurance as well as pension plans.
One of the companies based in Quebec is the National bank insurance company which serves consumers that are interested in property and casualty insurance. This includes home and automotive insurance. There are other companies that are based in Quebec. The Desjardins group is an insurance company that has insurance for all Canadians.
The Dominion group is based in Toronto and has the distinction of being one of the oldest insurance companies, and was started by the first Canadian Prime Minister, John MacDonald. This company has a positive reputation amongst its users.
Health insurance is primarily a government responsibility, however individual Canadians are encouraged to own private health insurance as a supplement. Some of the provinces namely British Columbia and Ontario also levy a tax on the health care furnished to Canadian citizens. There are companies that specialize in providing health insurance for those that are interested in these products. It is estimated that about 65 percent of Canadians carry health insurance in addition to what is furnished by the government.
Other insurance companies that are located in Canada, are Equitable life and Economy life. These companies offer this extra insurance if a citizen needs and wants critical care coverage.
There are also Canadian offices of US insurance companies such as Allstate. This company has offices throughout Canada and can be found in or near most of the major cities. Some of the other American carriers that have branches in Canada are Sun Life and State Farm.
Great Life Insurance company of Canada also has life insurance. This insurance company trades on the Toronto exchange and is one that has been around for a number of years. It is a well know and established company.
Missoquoi insurance has been around since 1835. It is based in Quebec and provides life insurance. Standard life is a company that is based in Edinburgh and is a major employer in the UK. They also have offices in Canada. This is also a well established company, and one that provides insurance for Canadians.
There are many insurance companies in Canada and this is by no means an exhaustive list. An individual can be sure they will be well served by the insurance companies that are available in Canada no matter what their need.
One of the companies based in Quebec is the National bank insurance company which serves consumers that are interested in property and casualty insurance. This includes home and automotive insurance. There are other companies that are based in Quebec. The Desjardins group is an insurance company that has insurance for all Canadians.
The Dominion group is based in Toronto and has the distinction of being one of the oldest insurance companies, and was started by the first Canadian Prime Minister, John MacDonald. This company has a positive reputation amongst its users.
Health insurance is primarily a government responsibility, however individual Canadians are encouraged to own private health insurance as a supplement. Some of the provinces namely British Columbia and Ontario also levy a tax on the health care furnished to Canadian citizens. There are companies that specialize in providing health insurance for those that are interested in these products. It is estimated that about 65 percent of Canadians carry health insurance in addition to what is furnished by the government.
Other insurance companies that are located in Canada, are Equitable life and Economy life. These companies offer this extra insurance if a citizen needs and wants critical care coverage.
There are also Canadian offices of US insurance companies such as Allstate. This company has offices throughout Canada and can be found in or near most of the major cities. Some of the other American carriers that have branches in Canada are Sun Life and State Farm.
Great Life Insurance company of Canada also has life insurance. This insurance company trades on the Toronto exchange and is one that has been around for a number of years. It is a well know and established company.
Missoquoi insurance has been around since 1835. It is based in Quebec and provides life insurance. Standard life is a company that is based in Edinburgh and is a major employer in the UK. They also have offices in Canada. This is also a well established company, and one that provides insurance for Canadians.
There are many insurance companies in Canada and this is by no means an exhaustive list. An individual can be sure they will be well served by the insurance companies that are available in Canada no matter what their need.
Monday, January 10, 2011
Different Loan Types
It is getting harder and harder everyday to get the necessities of life as the prices go sky high. The pay checks you get is hardly enough to cope with the day to day needs. In such hard-pressed times, loans are the last resort of most people. The idea of a life like this but without the chances of getting loans is no less than a nightmare for a typical American individual. Since the loan money is the only way to buy your necessities as the amount on your given pay check is certainly not enough.
A number of loan types offering different deals are available according to your needs. A brief account on a few of the loan types is given under and you can chose the one that suits you the most.
1. Personal Loans
Personal loans are the ones that are generally borrowed by the public. You can utilize personal loans in case you want to buy a property, go on vacation or to meet your daily requirements. These types of loans basically can be divided into two main categories; secured loans and unsecured loans. The type of personal loans which require you to keep an asset as the security of loan is called secured loan. This collateral usually is your residence. You can borrow a large sum in these types of loans and usually the lender also feels safe since he has your property, in case you find yourself unable to repay the loan. Moreover, the repayment period is also flexible in these loans. However, unsecured loans since do not require any collateral to be placed, so naturally that means that you cannot borrow a large sum of money. Furthermore, you also need to repay this amount relatively early.
2. Home Loans
Home loans or mortgage loans as they are commonly referred to are loans which you borrow from banks or any other financial institution to buy a home. However, you cannot get the amount transferred to yourself directly, because the bank or that lending institution transfers the money directly to the seller.
3. Auto Loans as the name tells, are for purchasing a transportation vehicle. There are different terms and policies of various auto/car loans, so make sure you read the fine print and understand car loan policies carefully, before you opt to go through auto loans.
4. Debt Consolidation Loans
Through debt consolidation loans, you get a whole sum of all of your mini debts that are spread in different accounts. Usually, it's a great option as this allows you to focus on only one big debt and you can generally manage to pay them back. Usually, debt consolidation companies help customers with a consolidation loan.
Apart from these main categories there are student loans, fast personal loans, and overdraft loans etc, which can help you in different situations. However, before going for a loan, make sure you understand all current interest rates and other hidden charges too. A loan can make you groan if you are not too careful about your choices prior to making a deal.
A number of loan types offering different deals are available according to your needs. A brief account on a few of the loan types is given under and you can chose the one that suits you the most.
1. Personal Loans
Personal loans are the ones that are generally borrowed by the public. You can utilize personal loans in case you want to buy a property, go on vacation or to meet your daily requirements. These types of loans basically can be divided into two main categories; secured loans and unsecured loans. The type of personal loans which require you to keep an asset as the security of loan is called secured loan. This collateral usually is your residence. You can borrow a large sum in these types of loans and usually the lender also feels safe since he has your property, in case you find yourself unable to repay the loan. Moreover, the repayment period is also flexible in these loans. However, unsecured loans since do not require any collateral to be placed, so naturally that means that you cannot borrow a large sum of money. Furthermore, you also need to repay this amount relatively early.
2. Home Loans
Home loans or mortgage loans as they are commonly referred to are loans which you borrow from banks or any other financial institution to buy a home. However, you cannot get the amount transferred to yourself directly, because the bank or that lending institution transfers the money directly to the seller.
3. Auto Loans as the name tells, are for purchasing a transportation vehicle. There are different terms and policies of various auto/car loans, so make sure you read the fine print and understand car loan policies carefully, before you opt to go through auto loans.
4. Debt Consolidation Loans
Through debt consolidation loans, you get a whole sum of all of your mini debts that are spread in different accounts. Usually, it's a great option as this allows you to focus on only one big debt and you can generally manage to pay them back. Usually, debt consolidation companies help customers with a consolidation loan.
Apart from these main categories there are student loans, fast personal loans, and overdraft loans etc, which can help you in different situations. However, before going for a loan, make sure you understand all current interest rates and other hidden charges too. A loan can make you groan if you are not too careful about your choices prior to making a deal.
Monday, January 3, 2011
Everything You Wanted To Know About Mortgage Types
Mortgage loan is the system used to finance the private ownership of real property. It is the loan borrowed to finance the purchase of real estate. The Mortgagor (borrower) gives the mortgagee (lender) a lien of property as collateral and gets the payment in pre-decided payment periods. The interest rates for the mortgage are specified as well, but the characteristics of the mortgage such as its maturity, interest rate and method of repayment may vary significantly. Often a mortgage is thought to be the amount of loan on the borrower which is a misconception; rather it is the collateral interest of the lender. Mortgage loan is the debt.
Among the many properties of mortgages, the seizure of the loan known as foreclosure is the property which sets it apart from other loans. This term indicates the prospect of the foreclosure or seizure of the property under certain circumstances. Interest, mortgage, property and principle are the other important properties of mortgage loans. Principle is the original amount of loan and interest is the financial fee charged for using the lender's money. Banks are usually the mortgagees but sometimes investors also lend mortgage loans.
Mortgage types differ with the laws and legal requirements of the area. The change occurs in the root properties of mortgage e.g. character of interest, loan life and the number of payments and how often they are made etc.. For instance, the interest quotient may or may not vary overt the term and whether the prepayment is made limited or not etc..
The two basic mortgage types are ARM (Adjustable Rate Mortgage) and FRM (Fixed Rate Mortgage). Fixed Rate Mortgage is thought to be the typical Mortgage type in many states. Hybridization of FRM and ARM is also common in practice. A constant interest rate is to be followed in Fixed Rate Mortgage. The terms are usually 15 or 30 years long. Only the interest quotient is guaranteed to be constant in FRM while other additional charges like property taxes etc may vary. As the name indicates, in Adjustable Rate Mortgage, the insurance rate changes throughout the entire loan life but it does remain constant for a defined period of time. The interest quotient in ARM depends upon the market interest scale. You can get the mortgage loan you need when the interest rates are low and get it adjusted over the term. The borrower inherits the interest quotient jeopardy from the lender partially. For this reason ARMs are considered when FRMs are out of reach due to their high rates or unavailability.
Balloon loan or Partial amortization is also one of the important mortgage types. In this type of mortgage loan, the sum of monthly expenses is calculated over a specified period, but the principle balance is due sometime before that period. The interest rate of the balloon loan can be fixed or adjustable.
Among the many properties of mortgages, the seizure of the loan known as foreclosure is the property which sets it apart from other loans. This term indicates the prospect of the foreclosure or seizure of the property under certain circumstances. Interest, mortgage, property and principle are the other important properties of mortgage loans. Principle is the original amount of loan and interest is the financial fee charged for using the lender's money. Banks are usually the mortgagees but sometimes investors also lend mortgage loans.
Mortgage types differ with the laws and legal requirements of the area. The change occurs in the root properties of mortgage e.g. character of interest, loan life and the number of payments and how often they are made etc.. For instance, the interest quotient may or may not vary overt the term and whether the prepayment is made limited or not etc..
The two basic mortgage types are ARM (Adjustable Rate Mortgage) and FRM (Fixed Rate Mortgage). Fixed Rate Mortgage is thought to be the typical Mortgage type in many states. Hybridization of FRM and ARM is also common in practice. A constant interest rate is to be followed in Fixed Rate Mortgage. The terms are usually 15 or 30 years long. Only the interest quotient is guaranteed to be constant in FRM while other additional charges like property taxes etc may vary. As the name indicates, in Adjustable Rate Mortgage, the insurance rate changes throughout the entire loan life but it does remain constant for a defined period of time. The interest quotient in ARM depends upon the market interest scale. You can get the mortgage loan you need when the interest rates are low and get it adjusted over the term. The borrower inherits the interest quotient jeopardy from the lender partially. For this reason ARMs are considered when FRMs are out of reach due to their high rates or unavailability.
Balloon loan or Partial amortization is also one of the important mortgage types. In this type of mortgage loan, the sum of monthly expenses is calculated over a specified period, but the principle balance is due sometime before that period. The interest rate of the balloon loan can be fixed or adjustable.
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