Monday, October 20, 2014
Top Entrepreneur News

Sun, 19 Oct 2014 19:00:00 -0500

Both individuals and employers can strive for better fitness, for personal reward and their companies' sake.

Sun, 19 Oct 2014 18:00:00 -0500

If you're feeling uncreative and more than a little burned out, it may be time to briefly unplug, get active, and find someone to talk to.

Sun, 19 Oct 2014 16:00:00 -0500

Otto shoots in a way that's completely tailored for social media.

Sat, 18 Oct 2014 18:00:00 -0500

You don't have to get a new degree to expand your knowledge base.

Sat, 18 Oct 2014 16:00:00 -0500

Next Big Sound’s data predicts music’s breakout stars.

Fri, 17 Oct 2014 23:00:00 -0500

Using author Tom Corley as inspiration, here's a checklist to the best things in life.

Fri, 17 Oct 2014 22:30:00 -0500

Select the correct method by weighing the task at hand, the recipient, a message's urgency and the potential risk of a misunderstanding.

Fri, 17 Oct 2014 22:00:00 -0500

Movies can be thrilling flights of imagination but none more so than those depicting the struggles of true-life entrepreneurs.

Fri, 17 Oct 2014 21:30:00 -0500

The same challenges face anyone in business, but women encounter their own unique challenges.

Fri, 17 Oct 2014 21:00:00 -0500

No matter what game you're playing, the winning formula is preparation, teamwork and a hunger to learn more.

Fri, 17 Oct 2014 20:48:00 -0500

After Uber driver Chris Ortiz tweeted about driver safety, he was unceremoniously dumped by the company in a letter that called his statements 'hateful.'

Fri, 17 Oct 2014 20:45:00 -0500

Reap the full benefits of your moments in the spotlight. Share the highlights before, during and after.

Fri, 17 Oct 2014 20:30:00 -0500

These days, it’s not enough to have a product or service people like and treat your customers well.

Fri, 17 Oct 2014 20:00:00 -0500

Why entrepreneurs should let their team members make 10 decisions a day.

Fri, 17 Oct 2014 19:42:00 -0500

Do you walk around asking potential clients 'What can I do to win your business?' Don't.

Fri, 17 Oct 2014 19:38:00 -0500

If our privacy is so important to us, why aren't we more skeptical of the services we give our information to?

Fri, 17 Oct 2014 19:30:00 -0500

Find out about Internal Revenue Code updates affecting small businesses that take effect this year and the next.

Fri, 17 Oct 2014 19:15:00 -0500

Candid feedback from past clients can prompt potential buyers to move forward with a purchase.

Fri, 17 Oct 2014 19:00:00 -0500

During those regular gatherings to discuss individual employee performance and goals, vary the setting, format and agenda for better results.

Fri, 17 Oct 2014 18:45:00 -0500

Startup tech companies that provide discounts to others are betting that their use will attract larger, paying customers.

Fri, 17 Oct 2014 18:30:00 -0500

Ads becoming content is here to stay. Railing against it won’t make it stop, but developing solid standards may keep it from undermining the publications in which it appears.

Fri, 17 Oct 2014 18:15:00 -0500

We exalt risk-takers as special but taking action without assurance of the outcome is part of life for everyone.

Fri, 17 Oct 2014 18:00:00 -0500

Determining a business name in an uninspiring conference room or over a glass of wine, just isn't going to cut it. Here are a few tips on unlocking your creative juices – and finding a name you love.

Fri, 17 Oct 2014 17:32:00 -0500

Action comes after massive data breaches have put millions of consumers at risk.

Fri, 17 Oct 2014 17:30:00 -0500

For entrepreneurs to succeed, customers need to trust in the brand. Here are three tips on building trust from the get-go.

Fri, 17 Oct 2014 17:30:00 -0500

A Georgia appellate court ruled that the parents of a seventh-grader who created a fake and defamatory Facebook account for a classmate may be liable for emotional damages by a jury.

Fri, 17 Oct 2014 17:00:00 -0500

This exclusive infographic helps you maximize the most important hours of your day.

Fri, 17 Oct 2014 17:00:00 -0500

By incorporating as a benefit corporation, entrepreneurs can protect their mission by elevating their company’s core social and environmental values to the status of law.

Fri, 17 Oct 2014 16:37:00 -0500

The coffee giant continues to prove itself a master of buzz.

Fri, 17 Oct 2014 16:34:00 -0500

The coffee company announced an updated dress code, raises across the board and free snacks while working.

Fri, 17 Oct 2014 16:30:00 -0500

Long before a potential customer decides to buy from you, they are forming opinions about what you offer. Don't leave that to chance.

Fri, 17 Oct 2014 16:30:00 -0500

Anyone can learn how to access intuition and make better calls.

Fri, 17 Oct 2014 16:00:00 -0500

Taking care of a few key matters will help you get the most out of your business.

Fri, 17 Oct 2014 15:42:00 -0500

The 'creative' settlement was reached with the California Coastal Commission after Napster founder Sean Parker came under fire for hosting an over-the-top wedding that allegedly damaged sensitive Redwood forests.

Fri, 17 Oct 2014 15:42:00 -0500

Danny Boyle is set to direct the movie, which is adapted by Aaron Sorkin from Walter Isaacson's biography on Jobs, and it looks like Christian Bale will be cast in the titular role.

Fri, 17 Oct 2014 15:40:00 -0500

The photo-sharing and hosting service that couldn’t afford a legal trademark battle with Twitter said it was closing down in September. Then, it was back! Update: Just kidding.

Fri, 17 Oct 2014 15:30:00 -0500

These tricks will make you a B2B marketing wizard.

Fri, 17 Oct 2014 15:15:00 -0500

In an economy hostile to small business, how are the most successful small firms surviving?

Fri, 17 Oct 2014 15:00:00 -0500

Our online experts explain why a clear call to action is essential.

Fri, 17 Oct 2014 14:30:00 -0500

To separate yourself from the pack and stand out where others don’t, you need to be different, but not too different.

Fri, 17 Oct 2014 14:10:00 -0500

For every 10 new franchises that open in the U.S., nine close, according to a new report.

Fri, 17 Oct 2014 14:05:00 -0500

The city has enormous woes but also substantial resources. Building a business here serves the greater good more than perhaps anywhere else in America.

Fri, 17 Oct 2014 14:00:00 -0500

The quickest way to increase the value of your product or service is to carefully consider who will value the most from it and marketing to them.

Fri, 17 Oct 2014 13:55:00 -0500

This is what happens when you allegedly underpay 400 delivery workers and shave hours from their paychecks.

Fri, 17 Oct 2014 13:45:00 -0500

An Idaho banker reflects on the values that have passed, along with the bank, from parent to child for more than a century.

Fri, 17 Oct 2014 13:30:00 -0500

You need to show why an investor should back you, and there are a number of traits that successful investees should show during the course of their pitch.

Fri, 17 Oct 2014 13:28:00 -0500

Called 'Audio Card,' the new feature lets people listen to a variety of content while browsing their timelines.

Fri, 17 Oct 2014 13:00:00 -0500

Websites without clear labels, that require multiple clicks to get to the most important stuff, and otherwise frustrate can serve as an example of what not to do.

Fri, 17 Oct 2014 13:00:00 -0500

Check out the news innovators and business owners need to know.

Fri, 17 Oct 2014 12:30:00 -0500

If you want to succeed and grow your business, your sales revenue and your brand, you must build awareness.

Fri, 17 Oct 2014 12:00:00 -0500

More marketers than ever are utilizing so-called 'sponsored social,' with the strategy closing in on display ads. Does this signal a shift in the industry?

Fri, 17 Oct 2014 11:30:00 -0500

This former police officer went from working in a former war zone in Bosnia to running a Merry Maids franchise.

Fri, 17 Oct 2014 11:30:00 -0500

Ready to give it your all? Put it to paper and keep yourself to it.

Thu, 16 Oct 2014 23:00:00 -0500

Here are a few pointers on making healthier decisions while on the road.

Thu, 16 Oct 2014 22:30:00 -0500

While the old way may have been 'buy or goodbye,' things have changed in that all customers, old and new, deserve your full attention.

Thu, 16 Oct 2014 22:00:00 -0500

Conferences are immensely valuable but to get the most out of your time, you have to be ready to soak it all in.

Thu, 16 Oct 2014 21:30:00 -0500

Overcome the uncomfortable and awkward moment of a rejection from a client.

Thu, 16 Oct 2014 21:15:00 -0500

The man behind Google’s first foray into the set-top business discusses how gaming will evolve.

Thu, 16 Oct 2014 21:00:00 -0500

Maybe you've figured out how to work uninterrupted. Now learn how to prioritize and allocate the right hours or minutes to tasks.

Thu, 16 Oct 2014 20:45:00 -0500

Value your contacts and they will value you. Entrepreneurs swear by their connections. But sometimes they swear at them as well.

Thu, 16 Oct 2014 20:42:00 -0500

The new iMac will feature a 27-inch Retina 5K display, Apple said, that is jam-packed with 14.7 million pixels.

Thu, 16 Oct 2014 20:30:00 -0500

If your company wants to do some good, look at these examples to maximize your cause-related marketing.

Thu, 16 Oct 2014 20:14:00 -0500

He released a scathing report, which challenges the company's presentation of itself as a benevolent force for the average New Yorker.

Thu, 16 Oct 2014 20:00:00 -0500

Many business leaders and organizations are predisposed to say no, thereby quashing experimentation and innovation. Here's how to welcome new ideas and tactics.

Thu, 16 Oct 2014 19:45:00 -0500

Consider how to truly listen to another colleague. You'll arrive at better discussions, decisions and results.

Thu, 16 Oct 2014 19:30:00 -0500

Research shows people grow impatient repeatedly hearing "I'm sorry'' while waiting for a solution. Actions really do speak louder than words.

Thu, 16 Oct 2014 19:20:00 -0500

You could get passed over on LinkedIn if your headshot stinks. Put your best face forward on the popular professional networking hub by not making these common and comical profile faux pas.

Thu, 16 Oct 2014 19:15:00 -0500

The billionaire philanthropist wants to distinguish between the wealthy who are using their money for good and those who are merely consuming it.

Thu, 16 Oct 2014 19:13:00 -0500

The iPad Air 2 and iPad Mini 3 will be available for preorder starting tomorrow.

Thu, 16 Oct 2014 19:00:00 -0500

Fall is the time to plan ahead so you can launch the new year as a profitable one.

Thu, 16 Oct 2014 18:45:00 -0500

A CEO reflects on the essential qualities a startup must keep in mind when scaling up in size and trying to preserve its open culture.

Thu, 16 Oct 2014 18:30:00 -0500

Entrepreneurs know the secret to success is hiring the right team to execute their vision. Here are five tips to keep in mind during the hiring process.

Thu, 16 Oct 2014 18:15:00 -0500

Check out these three cool, innovative Nordic startups that are seeking to expand to the U.S.

Thu, 16 Oct 2014 18:00:00 -0500

Being a great leader does not require you to be the best at your job. Understanding these three attributes can help you manage your teams more effectively.

Thu, 16 Oct 2014 17:49:00 -0500

The move comes a day after HBO's announcement of an Internet-only subscription service.

Thu, 16 Oct 2014 17:43:00 -0500

The new payments paradigm has been billed as a potential credit-card killer.

Thu, 16 Oct 2014 17:43:00 -0500

PaintZen, backed by real-estate mogul Barbara Corcoran, launches in New York and San Francisco today.

Thu, 16 Oct 2014 17:33:00 -0500

A 14-year low on jobless claims reinforced expectations that slack in the labor market was being reduced.

Thu, 16 Oct 2014 17:30:00 -0500

By building a culture of candor, you get an honest assessment of your leadership skills without employees being worried about possible negative ramifications.

Thu, 16 Oct 2014 17:15:00 -0500

Close the gender gap one leader at a time.

Thu, 16 Oct 2014 17:00:00 -0500

'Under-promise and over-deliver' is a hallmark of successful service delivery. Yet businesses that consistently go too far above and beyond the scope of work risk damage to their bottom line

Thu, 16 Oct 2014 16:53:00 -0500

In Coca-Cola's new platform for entrepreneurs, Coke brings the money and the cache, while startups (hopefully) help the soda giant reach new markets down the road.

Thu, 16 Oct 2014 16:30:00 -0500

People can learn a lot about running a company by putting on sneakers and hitting the pavement.

Thu, 16 Oct 2014 16:00:00 -0500

Richard Branson and other adventurers take on the final frontier.

Thu, 16 Oct 2014 15:45:00 -0500

Judge also questions Apple's need for secrecy.

Thu, 16 Oct 2014 15:30:00 -0500

This mogul launched hip-hop's biggest entertainers of the past thirty years and has a new plan to discover the next generation of MCs and lyricists.

Thu, 16 Oct 2014 15:30:00 -0500

For the first time, women have taken the reins of some of the world's largest corporations. The challenges they face are anything but new.

Thu, 16 Oct 2014 15:22:00 -0500

The new tool allows users in disaster zones to check in with friends and family.

Thu, 16 Oct 2014 15:15:00 -0500

Google is calling Lollipop its 'largest, most ambitious' Android release yet.

Thu, 16 Oct 2014 15:00:00 -0500

You'll find many ways to give people a second chance to buy by thinking like a shopper while analyzing how they browse your site.

Thu, 16 Oct 2014 14:35:00 -0500

Wireless experts note that the tests could simply be basic research that does not ultimately lead to new products or services.

Thu, 16 Oct 2014 14:30:00 -0500

Don't simply go through the motions of customer development. You should have a deep understanding of the purpose behind it.

Thu, 16 Oct 2014 14:07:00 -0500

Apple fanboys and anyone else who's curious will want to tune it and find out what the tech giant is cooking up next.

Thu, 16 Oct 2014 14:00:00 -0500

Drive, passion and determination don't pay the bills; money does. Here are the wise ways the 'Queen of QVC' saved cash as an early entrepreneur and how you can, too.

Thu, 16 Oct 2014 13:30:00 -0500

Most websites are only optimized for the country that the business is physically in. To expand, owners will need to think about international search.

Thu, 16 Oct 2014 13:00:00 -0500

You may not be a genius, but your writing needs to sound like it.

Thu, 16 Oct 2014 13:00:00 -0500

If you’re noticing your enthusiasm for your business draining, don’t worry. It’s all part of the cycle.

Thu, 16 Oct 2014 12:30:00 -0500

A lot of people tell you they can provide innovation. Hogwash. It's all about you.

Thu, 16 Oct 2014 12:00:00 -0500

The highs and lows of owning a business can be similar to riding a rollercoaster, but remember, setbacks are the building blocks of success.

Thu, 16 Oct 2014 11:30:00 -0500

A bit of color, tweak the logo, optimize for mobile and, voila! It's a fresh new look.

Mon, 20 Oct 2014 06:18:00 -0500

China’s campaign to re-embrace its biking tradition is catapulting the wealth of two Chinese billionaires. To reduce air pollution and traffic jam, the country has become a leader in building sharable biking systems. Last year, China, with its fleet of 650,000 public bikes, surpassed Italy as the country with most bike-share [...]

Mon, 20 Oct 2014 05:44:00 -0500

AMC's 'The Walking Dead' is off to a great start, with a stirring second episode following the dramatic season premiere.

Mon, 20 Oct 2014 04:14:00 -0500

Judging from most of the coverage of Apple Pay, the mobile wallet that launches Monday, you'd think Apple has already revolutionized the $4 trillion U.S. payments market before anyone has even used it in the wild. But based on research into rival wallets and interviews with merchants, payment tech firms, and payments experts, it's apparent that Apple Pay is far from a guaranteed success. Here's why there's good reason to view Apple Pay with skepticism.

Mon, 20 Oct 2014 01:03:00 -0500

87% of enterprises believe Big Data analytics will redefine the competitive landscape of their industries within the next three years. 89% believe that companies that do not adopt a Big Data analytics strategy in the next year risk losing market share and momentum. These and other key findings are from an [...]

Sun, 19 Oct 2014 19:36:00 -0500

The cross-platform smart watch will passively monitor heart rate and have a battery life of more than two days, sources say.

Sat, 18 Oct 2014 19:43:00 -0500

Sitting down to do a feature on Motorola's latest budget handset, the Motorola Moto G (2014), I find myself in a quandary. Is the Moto G that most elusive of handsets? Is Motoroloa's pocket rocket the number one choice for smartphone buyers in today's market?

Sat, 18 Oct 2014 05:36:00 -0500

I was not always a writer, coach, speaker and pen-and-marker fiend. I used to be a Human Resources person. I ran Human Resources departments in the startup world and the Fortune 500 world, too. I hired thousands of people, and I noticed one glaring truth about who gets hired. It doesn't [...]

Fri, 17 Oct 2014 15:37:00 -0500

As offices across the country close out a week marked by celebrations of "Boss's Day," now is a great time to consider your relationship with your current boss--could it be improved, or maximized in some way?--or what kind of notes you might want to strike with your next one.

Thu, 16 Oct 2014 14:00:00 -0500

We are now nine and a half months into 2014, and the sales numbers for the music industry are looking particularly grim. While the fourth quarter is typically when the most sales occur, things have never been quite so bad. In 2014, not a single artist’s album has gone platinum. Not [...]

Thu, 16 Oct 2014 09:40:00 -0500

It should come as no surprise that mobile ad spend is on the rise. AppFlood's latest 'Advertising Insights' report shows the expected increase in mobile traffic, but it also shows the growth in mobile ad spend is outstripping the growth of traffic.

Latest News & Information

Current Articles | Archives | Search

Is Your Bank Stealing From You?
By David Najor :: Friday, August 22, 2008 :: 14129 Views :: Article Rating :: Business & Finance

California, USA - “Few would argue that the energetic entrepreneurs have transformed small business in metropolitan areas of Michigan, California, Illinois, Arizona, and Nevada,” says Rebecca Cohen of California’s Bank & Trust speaking of Chaldeans.  “They are hard-working, brilliant in business, and have a remarkable talent for negotiations.”

Although the accolades and praise rings true to many, Chaldean business owners still remind budding entrepreneurs to be mindful of banks when doing business. 

“Banks are like any other business.  Their inventory is currency.  They want to buy currency when it is inexpensive and sell or loan to you at a higher rate,” says Masood Bajou.  “Chaldeans in business or not, should always keep a close eye on their banks and the fees they charge.”

Increasingly, banks are finding ways to impose bigger and trickier fees on account holders.  Uncovering the creative ways banks assess fees and other hidden costs to their customers was no easy task.  Nonetheless, Chaldeans should be watchful over some of the sneakiest fees and quickly master ways you can avoid them...

ATM Overdraw
Many ATMs are allowing their customers to overdraw on their accounts. Request cash from your bank's ATM, and you will almost certainly receive it -- even if there is not enough money in your account to cover the withdrawal. Banks could easily program their ATMs to decline such transactions or to warn you that such a transaction will trigger a hefty overdraft fee, but that would mean a loss of extra fees for the banks.

Chaldean Self-defense: Check your balance before making the withdrawal if you are not certain there is enough money in your account.

Double ATM fees.
Last year, Bank of America increased its ATM fee for non-account holders from $2 to $3, and other banks are likely to follow suit. ATMs warn customers of this type of charge, but many ATM users do not realize that their own banks often charge an additional fee of between $1 and $2.50 for using an ATM that belongs to another bank chain. That means the total fee for an out-of-network ATM transaction can top $5.

Chaldean Self-defense: Use only your own bank's ATMs.

Check Overdraft Penalities
Clear the biggest checks first to maximize overdraft penalties. Most banks charge a fee of $30 to $40 each time an account holder bounces a check. (Any merchant who received your bad check might charge you a penalty as well.) In addition, many banks now follow a practice that often automatically increases the number of checks that their customers bounce. They do this by first deducting from your account the largest check amounts when processing a batch of your checks.

The banks claim they do this because large checks tend to be the most important, but consumer advocates contend that it is just a way to maximize fees. Bank of America, Citibank, HSBC, Wells Fargo and many other banks engage in the practice.

Example: Five checks you wrote reach your bank on a given day -- four checks for small items followed by a $1,400 mortgage payment. If there is only $1,300 in your account, only the final check -- the big mortgage payment -- should bounce. Instead, your bank processes the large mortgage payment first, which means that all five checks will bounce. Rather than a $30 or $40 overdraft fee and one upset check recipient, you now face $150 to $200 in overdraft fees and five perturbed check recipients.

Chaldean Self-defense: Avoid writing many checks or making several debit card purchases in a short period if you are not 100% certain that there will be enough money in your account to cover all of them.   Also, check with your bank to see if they have overdraft protection should you have both a savings and checking account. This is often a free service so be careful of banks that charge for this basic service.

Another hidden fee is getting a penalty for someone else's bounced check. A penalty when you bounce a check is one thing -- but many banks now charge a fee of $5 to $10 to the recipient of a bad check as well.

Chaldean Self-defense: Do not accept checks as payment unless you are confident that you can trust the payer.

Account Dormancy Fees
Some banks charge a fee of several dollars per month to keep an "inactive" or "dormant" account open. In Michigan, Charter One is notorious for this practice.  Banks have different criteria for what they consider a dormant account, so be sure to ask your bank about its rules.

Chaldean Self-defense: Close any unnecessary accounts.

Banks might charge you a fee of $5 or more if you close an account within six to 12 months of opening it. These fees are particularly common at bank branches located in college towns, because banks know that students often close accounts at the end of each semester or school year. Example: Here in California, KeyBank charges an early closure fee of $25 when "Express Checking" accounts are closed within 180 days of being opened.

Chaldean Self-defense: Ask about account closing fees before you open the account. Don't open an account at a bank that charges such a fee if you expect to leave the region or close the account for another reason anytime soon.

Gift Card Fees.
Banks sell gift cards like those offered by retailers. They can be used just as you would use a bank-issued debit or credit card. Unlike retailer gift cards, however, bank gift cards often carry account fees of as much as $2 or $3 per month. If the recipient does not spend the money quickly, a significant portion of it might gradually disappear.

Chaldean Self-defense: Give cash or a check -- or a retailer gift card -- rather than a bank gift card.

Teller and Phone Fees.
Some banks now charge $1 to $5 or more every time an account holder interacts with a teller or customer service representative in person or on the phone (or every time the account holder exceeds a preset monthly teller transaction limit). At some banks, this charge applies even when customers call the bank but interact only with the automated system. Customers are not told that they are being charged a fee at the time of the transaction, and they often are unaware of the rules.

Some banks even charge a fee for certain ATM services, such as requesting a "mini-statement" that summarizes recent transactions.

Chaldean Self-defense: Ask your bank if your account has a limit on the number of free teller visits or calls. If it does, do as much banking as possible through ATMs or on-line.

Also, ask to have any teller or phone fee waived when your call or visit is about a bank error, involves opening an account or is because the bank's ATM is out of service. You also may avoid these fees if you maintain a certain balance in some accounts.

PIN fees.
Some banks now charge a fee of 25 cents to $1.50 each time a customer uses a personal identification number (PIN) for a debit card transaction at a retailer. Debit card users typically can choose to either sign for purchases or type in their PINs.

Banks impose PIN fees to encourage customers to sign for purchases, because banks can charge retailers higher fees when they do. Trouble is, many Chaldean cardholders don't even know that PIN fees exist.

Chaldean Self-defense: Try to use credit cards rather than a debit card. If you do use a debit card, check whether your bank imposes a fee when you enter a PIN. Consider switching banks if it does.


Many Chaldean bank customers learn that fees only after when charges appear on their account statements -- if they bother to read their statements at all.   By law banks are required to give new customers a "Truth in Savings Disclosure" statement detailing all of their fees and to notify customers in writing when policies change, but few read the fine print of bank literature. Chaldeans should routinely ask their bank for a copy of the fee-disclosure statement for their accounts.

Chaldeans will often say that their banks waive the fees because they are good customers, but this is less common now. At many banks, low-level employees no longer even have the right to waive fees, and the managers who do are increasingly unwilling to be lenient -- though it is still worth asking to have questionable fees waived when they appear on your statement.

Always keep a good record of what you have tied to a bank.  Banks know that if you have your mortgage being automatically withdrawn, direct deposit for professionals, or a business account with business dealings electronically tied, they know you are less likely to leave over the fee charges.  Some banks will take advantage of this situation and nickel and dime Chaldeans to death. 

Having all your information accessible makes it easy to call their bluff and transfer your accounts to another bank.  Competition is the only way to keep the banks offering great service at reasonable costs. 

Now that is advice you can take to the bank!