Money Land – A New Take on an Old Favorite

by rcolonel@checkngo.com – 10/24/2011 5:15:13 PM

When compared to the simple joys of childhood, growing up and handling your financial responsibilities can be quite the challenge. But if you've read our eight-part guide to managing your money with Mint.com, you should be prepared to take on any financial bumps in the road. You might say Mint makes managing your finances seem like mere child's play.
We started thinking about Mint, finances, and childhood—and got a little nostalgic. The following infographic reflects that childhood nostalgia with our version of everyone's favorite childhood board game—Candy Land.

Mississippi Payday Loan Law Passes House

by jodalton@checkngo.com – 6/17/2011 4:50:04 PM

Changes in Mississippi payday loan legislation have been proposed in hope of benefiting customers from high interest rates. In a House vote of 78-38, House Bill 455 will move to the Senate in an attempt to reduce companies from potentially charging 572% interest rates to customers, which is the highest allowed in the state. This bill will also extend the length that customers have to repay their payday loan debts. [1]

Many payday lenders and payday lender proponents believe that their services offer great alternatives to bank overdraft fees and returned checks, which negatively affect consumer’s credit histories and could cost them more in the long run.

Advance America Vice President, Jamie Fuller says, “The house clearly recognizes that this is a product that meets the needs of consumers." [1]

Opponents of the Payday Loan industry believe that payday loans target the poor and lead them into a cycle of debt.

House Banking Committee Chairman, George Flaggs (Democrat) is pushing for the new bill, which will allow customers at least 28 days to pay off their loans on amounts of $201 to $500, rather than the current requirement of paying it by the next payday. For amounts under $200 or less, the fee would be reduced from $21.95 to $20 and consumers would have 21 days to repay. [1]

The challenge for the Senate will be to find a balance for the benefit of the customers as well as for the payday loan industry, which supports 3,000 Mississippi workers and pays $118 million in salaries. Read the full article at businessweek.com.

[1] Pettus, Emily Wagster. "Payday Lending Bill Passes in Mississippi House - BusinessWeek." Businessweek - Business News, Stock Market & Financial Advice. Bloomberg.com, 19 Jan. 2011. Web. 16 June 2011. http://www.businessweek.com/ap/financialnews/D9KRE2NG0.htm.

Western Union Expands Mobile Money Transfers

by vnsmith@checkngo.com – 6/17/2011 4:16:34 PM

In a press conference on Wednesday, February 16, 2011 Western Union revealed their expansion of Mobile Money Transfer services to 18 countries across Africa, Asia, and the Middle East.

In a partnership with Emirates Telecommunications Corp also known as Etisalat, this agreement now allows subscribers to receive and send money transfers through mobile funds tied to their phones.

The first Mobile Money Transfer services from Western Union, offered in mid 2008, were offered internationally in Canada, Philippines, Kenya, and Malaysia before the recent expansion.

With Western Union Money Transfers, customers have three ways to send or receive money: Cash to Mobile, Mobile to Cash, and Mobile to Mobile.

Cash to Mobile allows customers to bring cash to a participating Western Union Agent and provide the recipient’s mobile number and the monetary amount for a simple transfer.

Mobile to Cash allows customers to send cash to a Western Union Agent location for the recipient to pick up. The person receiving the funds will be notified via text message when the funds are available.

Mobile to Mobile bypasses the agent location and allows customers to send funds to someone with a mobile enabled account, which is added to their mobile wallet or account balance tied to the phone.

For more information on Western Union Mobile Money Transfer Services, visit www.westernunion.com

Iowa Payday Loan Legislation 2011

by jodalton@checkngo.com – 6/17/2011 4:00:11 PM

A recently proposed bill concerning Iowa payday lending cleared a Senate subcommittee on Tuesday, March 1st. The new bill will cap payday loan lending interest rates at 36%. This rate is equivalent to the maximum that Iowa banks and credit unions are able to charge for similar lending services.

The Human Resources Committee passed the bill, and it was moved on to the full Senate. As of April, 2011, the bill was at a standstill. Before this bill was proposed, the average annual interest rate for <strong>Iowa payday loans</strong> was 292% according to the Iowa Division of Banking and The Iowa Independent.

Although this bill is highly favored by the Democrats, Iowa labor unions, and social organizations, many believe that the majority Republican Senate will not pass the bill, at least not this year.

This proposed legislation follows the nationwide trend to lower interest rates charged for payday loans.

New Tax Cut Bill Could Improve Consumer Confidence

by jodalton@checkngo.com – 6/17/2011 4:27:29 PM

Since the start of December, there has been a drop in the confidence U.S. consumers feel about the economy, according to a Bloomberg report published on December 28, 2010. The report stated that the Conference Board’s Confidence Index fell to an all-time Bloomberg News low of 52.5. [1]

Even with the low scores, a University of Michigan report showed the largest increase in holiday shopping in five years. Omair Sharif, an economist at RBS Securities INC. in Stanford, Connecticut, explains the trend by saying, “Watch what consumers do, not what they say”. [1]

The report states that although consumers are apprehensive about spending, the majority of their concerns lie with job outlooks. The unemployment rate has not shifted significantly since it held steady at 10% in 2009, with the rate being slightly lower at 9.8% in 2010.

With aid by the new tax cut bill President Obama signed December 17th, companies expect sales increases to continue. George Pipas, an analyst from the Ford Motor Company, expects that confidence will increase this year. “We have a high degree of confidence that 2011 is going to be a stronger sales year,” Pipas said. [1] The law extends tax cuts for all income levels for two years, expands jobless insurance benefits to the long-term unemployed for a year and reduces payroll taxes.

Read more about the bill at Bloomberg.com.

[1] Homan, Timothy R., and Bob Willis. "U.S. Economy: Confidence Falls on Concern Over Jobs - Bloomberg." Bloomberg - Business & Financial News, Breaking News Headlines. Bloomberg.com, 28 Dec. 2010. Web. 15 June 2011. http://www.bloomberg.com/news/2010-12-28/consumer-confidence-in-u-s-unexpectedly-falls-on-outlook-for-job-market.html.

Consumer Website Reviews with SiteJabber

by vnsmith@checkngo.com – 6/1/2011 11:08:55 AM

Have you ever visited a store and had a bad customer service experience or received a product that didn’t meet the quality standards you expected and wanted to spread the word? Now you can rate your experience with online stores at SiteJabber.

Rated as one of the top 100 websites of 2010 by PC Magazine, SiteJabber is a free site that allows you to view reviews from different websites before making a purchase. SiteJabber covers everything from online clothing stores to online dating. SiteJabber members are likely talking about whatever you are paying for online.

But SiteJabber doesn’t just rat out the unpleasant sites that have poor customer service experiences and fraudulent transactions; they also give praise to those sites out there putting the customer first and giving exceptional service.

SiteJabber also features an insightful blog that gives you (the consumer) tips about how to avoid fraud and other types of online scams that haven’t been exposed yet. There are also colorful infographics about online sales trends and how to find quality services at the most reasonable prices.

Before you type in your credit card information, read others reviews and even write your own on www.SiteJabber.com. Don’t fall victim to online scams or fraud. Check‘n Go also feels fraud and deceptive practices, specifically in the payday loan industry cannot be tolerated. That is why Check ‘n Go helped establish the Community Financial Services Association (CFSA).

How to get the best prices on airline tickets

by rschramm@checkngo.com – 5/23/2011 4:10:04 PM

(and how an installment loan could help)

As the price of gas continues to skyrocket, airplane tickets have been following suit. If you have any intentions of traveling in the upcoming holidays, try some of these ticket-buying techniques to save a little money. And remember, if you find yourself strapped for cash and needing to travel, an installment loan can help out.

You need to start your search early. While months ahead of time might not be reasonable, if you have any inkling of your vacation dates, then start looking as far ahead of schedule as possible. Airplane tickets could be cheaper since they won’t be as in-demand. The closer you get to the holidays, or even your departure date, the easier it will be for airlines to charge higher prices – if you’re buying a ticket for a flight in just one week, it implies that you absolutely need to be on that flight, so airline may try charge you more out of necessity. It’s just like winter boots being more expensive in the early winter months. But just like retailers, airlines have sales, and ones you should keep a look out for.

Many airlines start their sales on Monday nights. So that by Tuesday other airlines have had the chance to scope out the competition and figure out where their prices need to be to successfully compete. Take advantage of this by doing your shopping on Tuesday morning, or on Wednesday, when sales are in full swing. After Thursday and Friday, prices will start to rise again.

If you’re actively searching for airplane tickets, try looking on popular travel sites like Orbitz, Kayak and Travelocity for lower ticket prices. Take note of the deal, and then visit the airline’s site to check for better prices and more convenient dates. And what’s more – you’ll eliminate your booking fees by buying directly from the airline. Having a pre-existing relationship with an airline, like being a frequent flier or a member of their rewards club, can also have serious advantages. Some airlines allow you to collect miles, and then redeem them when you’re booking flights. Take full advantage of any membership opportunity you can have with an airline – especially if it’s free!

Flying can be a stressful experience, but it becomes a little easier to bear if you know you got a good deal on your ticket. Find the best deal you can, and if you need help paying for an unexpected trip, keep in mind that ‘n Go can get you an installment loan or a payday loan when you need help. In fact, installment loans may get you more money than an airline ticket actually costs – so you might be able to pay for your entire trip, depending on where you need to go. If you’re in a financial pinch, let Check ‘n Go help.

Ways to Prepare Financially for a Natural Disaster

by vnsmith@checkngo.com – 5/5/2011 9:26:06 AM

Nature is a powerful force that often intervenes without warning. Many disasters of the past decade including the most recent earthquake and tsunami in Japan so vividly display the powerlessness we have against such great forces.

When disaster strikes, there isn’t always much we can do, but you can prepare yourself financially. There are several measures you can take to help protect and access your finances should a natural disaster ever come your way.

Have some money stashed with a national bank

When disaster strikes, it can be a chaotic time. Your home could be damaged and you might not know if it can be salvaged. Access to your funds can be critical. If you have to move or arrange temporary housing in another location, an account with your local bank may not help. Keeping at least a month’s worth of money in a separate national account may allow you to access your cash fast until things settle down.

Electronically scan important financial documents

A flood or fire can ruin your house in seconds. Precious financial documents can be destroyed in such instances. To keep your information secure should paper documents be destroyed, you can scan your financial documents and save them on your computer. Then save them to a portable media like a disc or zip drive and store them in a secure location. Or you can e-mail these scanned documents to your personal e-mail address or a trusted friend. If you are skeptical about putting your private information on the internet, you can make several copies and keep them at a trusted friend or family member’s house, preferably in a location different than your own.

Create a Home Inventory

Counting all the items in your home can be a tedious task, especially when there is no immediate reward. However in the midst of a disaster, when many items may be destroyed or damaged, an inventory may add some ease to the process of filing an insurance claim. Even if you never experience a natural disaster, a robbery or house fire can be just as detrimental and having an inventory of your stuff may help in any case.

If you want to go above and beyond, you can also take pictures of each of your items in the event that there is a dispute from your insurance company.

Know your Insurance

It can be very important to obtain and keep homeowners insurance. Beyond just having insurance, make sure you understand what your policy does and doesn’t cover. If you live in a hurricane, flood, or earthquake prone area, it might be wise to look into coverage for these events if your policy doesn’t already cover them.

Keep some cash at hand

When disaster occurs, many modern conveniences such as ATM’s are often not accessible. Keep at least a weeks’ worth of money in a safe place in your home to cover food and other necessities until things settle down.

It would be almost impossible to prepare completely for every possible natural disaster. There is no way to predict with complete certainty the outcome or how much devastation there will be. The most important thing is survival. But there are preventative measures you and your family can take to help ensure that your finances are as stable and protected as they can be if you ever experience a catastrophic event.

Payday loans should be used for short-term financial needs only, not as a long-term financial solution. Customers with credit difficulties should seek credit counseling. Approval depends upon meeting legal , regulatory and underwriting requirements. All product and service options subject to change without notice. Online transactions not available in all states. Cash advances subject to applicable lender’s terms and conditions. See website for details.

Check 'n Go OH License #SM.501663 and #CS.900077.000, and #CC700416. Rhode Island licensed check casher. California-licensed by the California Department of Corporations pursuant to the California Deferred Deposit Transaction Law. California loans other than deferred deposit loans are issued pursuant to the California Finance Lenders Law. Texas and Ohio loans originated by a third party lender, restrictions apply

How The European Debt Could Crash Our Economy

by rschramm@checkngo.com – 5/3/2011 2:01:04 PM

Remember in 2008 when you could literally feel the economy crumbling beneath your feet? The debt crisis rattling through Europe right now might give you that familiar shaky feeling, but don’t break out the emergency procedures just yet. This disaster of epic proportions might fall short of cracking the United States’ economic foundation.

Should European countries default on their debt, it could have serious side effects for American banks that have invested in European banks. If these European banks can’t repay their debts, it could reduce the amount U.S banks are willing to lend, even to American citizens. These restrictions could limit overall economic growth, and potentially launch the United States into another recession. Luckily, though U.S banks have had time to recover since 2008, padding themselves with billions of dollars of investments. Furthermore, the amount of money that American banks have invested in the particular countries going through debt crises – Spain, Portugal, Greece, Italy-- is not so substantial that losses from those counties could not be taken in stride.

But economists are worried about more than just direct bank activity: they’re also concerned with how the debt crisis will affect United States exports. Directly, a weak Euro could make American goods more expensive in Europe, so Europeans could be less inclined to buy American products. The good news is that, when it comes to overall exports, the United States only sells less than 4% of all its goods and services to Europe, so it could avoid immediate drastic issues. Indirectly, Asian countries do a lot of exporting to Europe. If suddenly Europeans aren’t able to buy, then Asia’s demand for American goods might also taper off.

So while the European debt crisis might not immediately affect your bank account, it does need to be watched with a cautious eye. If things start to get more drastic, then there might be cause for real concern in the U.S economy.

7755 Montgomery Road Cincinnati, OH 45236
To unsubscribe from all future marketing communications, click here. To view our privacy policy, please click here.
Payday Loans are also commonly referred to as Cash Advance, Payday Advances, Payday Advance Loans and Fast Cash Loans. Payday loans should be used for short-term financial needs only, not as a long-term financial solution. Customers with credit difficulties should seek credit counseling. Approval depends upon meeting legal , regulatory and underwriting requirements. All product and service options subject to change without notice. Online transactions not available in all states. Cash advances subject to applicable lender’s terms and conditions. See website for details.
Check 'n Go OH License #SM.501663 and #CS.900077.000, and #CC700416. Rhode Island licensed check casher. California-licensed by the California Department of Corporations pursuant to the California Deferred Deposit Transaction Law. California loans other than deferred deposit loans are issued pursuant to the California Finance Lenders Law. Texas and Ohio loans originated by a third party lender, restrictions apply.

Gift Cards – America’s New Favorite Gift

by vnsmith@checkngo.com – 5/2/2011 1:41:43 PM

Troubled about what to get a friend or loved one this holiday season? Last minute holiday shopping leaving you frazzled? If all else fails, get a gift card.
According to the National Retail Federation, gift cards are the most requested gift for the sixth year in a row and over 50% of adults hope to receive one this holiday season.
Gift cards can be a great option when you don’t know what someone likes or don’t have the time to shop around. Recipients may be able to get what they really desire; with no feelings hurt and no returns made.
However, the Credit CARD Act gives consumers a new range of rights when it comes to using their gift cards which can help alleviate much of the frustration people often feel associated with the use of gift cards.
Gift Card Changes
Gift card expiration dates:
• The money on your gift card will be good for at least five years from the date the card is purchased.
• Any money added or loaded on to the card must also be good for at least five years.
Gift card fees:
• The law prohibits dormancy, inactivity and service fees on gift cards unless there has not been any activity for twelve months and the issuer clearly discloses all fees on the packaging.
• Even in this case, retailers cannot assess more than one fee per month.

These laws apply to store gift cards or general use prepaid cards whether issued by retailers or other financial institutions.*

Although these new laws create many benefits from a consumer standpoint they do not change information on lost or stolen cards.

Many companies will work with you if you have lost your card, but this is not guaranteed. If you receive a gift card, use it within a reasonable time frame so you don’t forget or misplace it.

Many cards also allow you to register online. If you do this, the company is aware of your total balance and makes reimbursement less difficult.

* Store gift cards and general use prepaid cards are defined in the Credit CARD Act of 2009. Please refer to the Act for more information and exceptions to the general statements above.
© 2011 Check 'n Go. All rights reserved.

7755 Montgomery Road Cincinnati, OH 45236
To unsubscribe from all future marketing communications, click here. To view our privacy policy, please click here.
Payday Loans are also commonly referred to as Cash Advance, Payday Advances, Payday Advance Loans and Fast Cash Loans. Payday loans should be used for short-term financial needs only, not as a long-term financial solution. Customers with credit difficulties should seek credit counseling. Approval depends upon meeting legal , regulatory and underwriting requirements. All product and service options subject to change without notice. Online transactions not available in all states. Cash advances subject to applicable lender’s terms and conditions. See website for details.
Check 'n Go OH License #SM.501663 and #CS.900077.000, and #CC700416. Rhode Island licensed check casher. California-licensed by the California Department of Corporations pursuant to the California Deferred Deposit Transaction Law. California loans other than deferred deposit loans are issued pursuant to the California Finance Lenders Law. Texas and Ohio loans originated by a third party lender, restrictions apply.