Step #2 To Getting Rich: Banking

You will be amazed at how much you lost in the bad banking business. Here are some tips to get you started.

Exemption of fee: If you are a student, please switch to a student bank account without annual fee. The conversation will be as follows.

You: "Hey, I am a student, I would like an account without an annual membership fee, I want to investigate for free, but I do not have the minimum balance."

This is interesting as you: "(Bank of America / Wells Fargo / other competitors) now offers this deal to me.In addition, your current customer acquisition costs are over $ 150 .That?

Bunker: "It's a shocking coincidence, it seems my computer suddenly shows that you can offer you a free account as you requested!"

One thing to keep in mind here is that banks do not want you to lose you as a customer. First of all, you are a student - a customer base that pays the highest cost. Second, winning new customers is an incredible amount (over $ 150). Please keep this in mind when negotiating with the next bank.

By seeking an exemption from overdraft fee. Banks are very good. If you have an ordinary savings account and a checking account and you accidentally write a check to your checking account, they will help the transfer to prevent checks from being returned from your savings account I will. They will also charge you $ 10 to $ 15 and it may exclude the interests of the year.

Fortunately, banks know that people occasionally become silly, and if you ask, they will be exempt from your expense. This is usually the first job, then it is difficult (although you have a good excuse, you can do it). Remember: they want you to be their customers

Please get a credit card to build your trust. If you have a strong reputation, you can rent a house / car / loan compared to those who have a lot of money but no credit history. About credit card

Difference between savings account and checking account: Savings account gains interest (there is no checking account). You must deposit most of your savings in your savings account (duh). This can only pay the minimum amount required for your checking account. Transfer between accounts as necessary

Set budget. Use Quicken / MS Money / Notepad to determine the cost for 3 to 6 months. Then cut down on expenses accordingly (eg, Starbucks / Coke / Dress / Do not need anything everyday). If you start saving, you have money to invest. The best way to make a budget

The next step is to transfer some "real money" from your bank account to your Kraken deposit. Kraken calls it "money / deposit". I used SEPA transmission. It is free in October 2017. But things became 'interesting'. You can get a clear explanation of SEPA transfer. Kraken uses Fidor Bank as an intermediary bank. You transfer funds to Kraken's account in Fidor Bank and name your Kraken account in a transaction review. Therefore, execute the transaction according to the recommendations. Money has left your private bank account - and has been gone for a few days. You will be nervous, but see online many confident posts, this money reaches Kraken - after all. In my case I received it three days later. So at the end I am planning to trade at Kraken.

As it happens, you are rich. There are quite precious invoices in your pocket. 1000 pounds of money from one of the most trusted banks in London. Even the furthest British colony the name of the bank is well known, and your notes will mark the official mark of their London branch. In New York, you will soon find a wealthy trader whose company has official relationship with London Bank. Banks provide credit lines to traders in England, but in exchange, traders promise that he will accept and redeem the New York draft of the bank.

How do you define Rich? Is Rich just the contents of your bank account or is it more than that? For me, FusionExcel is more than just having a huge bank account. You can be wealthy at the bank, but the personality is very poor. In a word, you can possess all the riches of the world, but still you can bankrupt in your morals. In this case, we can not compensate for the lack of moral compass. "You are a wealthy person, do you have much wealth?" He replied: "I have no such wealth, my wealthy" life.