Reliable Top 15 for Certification in IT Sphere

When employers are hiring Information Technology (IT) department staff, the main concern at the back of their minds is always that of whether the applicants under consideration are really reliable. One of the ways in which they are able to establish that is by looking at the sorts of certifications held by the IT job applicants. Those with reliable IT certifications are regarded as having a high probability of being experts who can be consistently relied upon. A question has to be asked at this point though, as to which the top certifications in the IT sphere are, in terms of reliability. Now the reliability of any certification in the IT sphere is mainly a function of its vendor’s reliability. So, to identify the reliable top certifications, we have to identify the reliable top 15 vendors of certifications. That is precisely what we will be doing, in a short while. The inference is that the certifications offered by these top 15 are the most reliable.

The reliable top 15 for certification in IT sphere are:

Emc

EMC is reliable for the certifications that make the holders experts in cloud computing and networking. Employers who keep tabs on the developments in the certification sphere know that EMC is a solid brand that they can always rely on, as far as such certifications go.

Pega

The people who attained PegaSystems certifications early on were few, but they proved themselves in terms of their expertise in the IT sphere. This has led to PegaSystems being regarded as one of the reliable top 15 for certification in IT sphere.

Braindumps.com

The reliability of Brain Dumps in the IT certification sphere is mainly a function of its accuracy, or more specifically, the accuracy of Brain Dumps exam guides. An IT exam candidate who has not used Brain Dumps exam guides has little chance of winning, when pitted directly against candidates who have fully used the available Brain Dumps IT certification exam guides.

Sap

Many people expect SAP to be the first name to be mentioned, whenever the reliable top 15 certification vendors in IT sphere are being enumerated. At the very least, people with SAP certifications can be relied upon not to make basic inexcusable mistakes when operating or configuring SAP business systems.

Motorola Solutions

In the niche of converged business communications within the IT sphere, Motorola is the top certification vendor. People with Motorola certifications are able to set themselves apart from the people with the ‘more basic’ certifications from other less reliable vendors.

Actualtests.com

The difference between people who get mere passes and those who get distinctions in IT sphere certification exams often boils down to thorough preparation. Real Tests makes a structured, thorough preparation for an IT sphere certification exam possible.

Tibco

To obtain a Tibco certification successfully, one needs to have an excellent understanding of all Tibco systems installation, routine service and troubleshooting procedures. That is ‘beyond-doubt’ evidence of reliability on the part of Tibco’s IT sphere certification

Adobe

Few brands inspire as much confidence in the IT sphere as Adobe. Given the confidence commanded (globally) by Adobe, one naturally expects Adobe’s certifications to be amongst the top 15 in IT certification sphere.

Pass4sure.co.uk

Looking at the answers given for various IT certification exam questions, examiners are always in a well placed position to pick well prepared (and hence professionally reliable) candidates from ill prepared ones. The literally thousands of resources at Pass4Sure can easily put you in the category of well-prepared and hence professionally reliable candidates.

Ciw Certified

CIW has to be the top certification in IT sphere, in as far as the web development sub-specialty is under consideration. Employers nowadays know that there is a way to know whether web development job candidates are professionally reliable, and that is by checking whether they are CIW certified.

Ibm

The IT sphere is wide, but its center is arguably in computer hardware: where the IBM certification is deemed as the most reliable. IBM has never been known to compromise its standards in any way, and its certification holders have gone on to buttress that reputation.

Test-King.com

To ensure that you don’t waste too much money and time making multiple attempts at passing certification exams in the IT sphere, you are advised to ensure that you prepare meticulously. Test King exists precisely to help you with the finer details of the meticulous IT sphere exam preparation.

Apple

IT sphere workers find Apple certifications reliable, because attaining them almost certainly assures one of a job in the growing Apple products support industry. That is the basis for us putting Apple certifications within the very top ranks of reliable IT sphere certifications.

Hds

Hitachi systems stand out in terms of modernity and sophistication, and the company behind them ensures that the people it awards its support certifications are equally sophisticated. That is how Hitachi gets regarded as a member (and a leading member at that) in the group of the top 15 reliable IT sphere certification vendors.

Citrix

For anyone to manage to satisfactorily pass the required professional exams to be awarded any Citrix certifications, they must have useful — and rather advanced – IT support skills. People with such skills always prove themselves to be reliable IT professionals, meaning that Citrix is indeed a reliable vendor for certifications in the IT sphere.

Debt Blunders To Avoid In 2014 – Secret To Staying On Top Of Your Finances

From student loans to credit cards to auto loans, there are tons of different ways to get wrapped up in debt. With the utter convenience of using credit cards and buying things without cash, people hardly think twice before taking out their cards from the wallet. Unknowingly, they charge more than what they can afford and this is when they fall in unsecured credit card debt that gradually takes a toll on their finances. While there are ways in which you can repay your credit card debt, very few people are aware of them. Getting out of debt often seems intimidating but avoiding the most common debt mistakes will certainly help you do so as quickly as possible. Read on the concerns of this article to check out the different debt blunders that you should avoid committing.

Racking up credit card debt

What it means: If you’re someone who spends beyond his means every month and depends on your credit card to make up for the difference, you’re in for some trouble. You are actually digging your own grave.

Why: Using your credit cards for purchasing everyday stuff like gas and groceries can land up with reward points and even some cash back offers. Even credit cards can be essential for booking a flight, but lingering credit card get can soon get nasty. If you have too much balance that you have been carrying from one month to another, you will soon find yourself up to your eyeballs in debt, thanks to the compounding fees and interest rates. The interest rate which is generally high will get added to your outstanding balance every day and this will increase the amount payable.

How to avoid it: Try to whip your plastics only when you’re positive that you will be able to pay off the balance at the end of the month. Carrying off balance from one month to another will not only increase the debt amount but will also have a detrimental impact on your credit score.

If you’ve already committed the mistake: Well, if you’ve already committed the mistake of racking up debt, you’re not alone and you don’t need to fret. Americans owe more than $900 billion in credit card debt. To stop the debt from multiplying, the first step that you need to take is to stop charging and digging yourself further into debt. Stop this cycle by following a budget or by combining your balances through debt consolidation companies and paying them off.

 Paying off late or failing to pay at all 

What it means: Someone with a credit card balance should always make timely payments and whenever possible in full.

Why: Constantly, late payments can incur huge penalties and hence they should be avoided. Late payments also have a bad impact on your credit score.

How to avoid it: Ideally, you should pay more than the minimum payments every month but if that is not possible for you, you can pay at least the minimum monthly payments on all your cards. Don’t make the mistake of trusting yourself to remember. For all the loan payments that stay the same each month, set up automatic bill payments with your bank. Just set up a reminder date or a due date on a calendar.

If you’ve already made this mistake: If you’re usually on time with your payments but this monthly you’re struggling hard, you might be able to waive off a late fee by giving your lender a heads up. But in case you’ve got a history of late payments, the only way to start cleaning your report is to make the payments.

Trying to pay off debt without a clear plan

What it means: With a clear plan on debt repayment, you can systematically pay off debts. Create a timeline showing when each of your debts can be paid off.

Why: Debt may have become too common but it is not easy to get rid of. So, if you’re inattentive towards your credit card debt, you can never prevent it from growing. With a plan, you can track your progress and it can also help you from giving up.

How to avoid it: Jot down your total outstanding debt amount with the interest rates on each of them. Check your current monthly income, your expenses so that you can calculate the time by which you can get rid of your debts. Also prioritize your cards according to the interest rates that they carry.

If you’ve already made this mistake: There’s no other option but to get back on track by designing a plan because it’s never too late to start planning.

So, if you don’t want your debts to rule you, avoid committing the above mentioned debt mistakes. Even if you do make mistakes, start mending before it’s too late.

Financial Preparations to Take Before You Retire

Retirement is a big step for anyone to take. After a lifetime of working every day for years, it can seem impossible to just stop all together and adjust to a life without your job. The biggest worry that most people have is how they will be able to afford their current lifestyle without having the income from their job that they have relied on for so long. This is an understandable concern and it is something to be addressed before you quit your job for good.

Many people make the mistake of thinking that social security and benefits from their 401K will be enough to allow them to pursue all the things they want to when they retire. The truth is that those incomes are often just enough for you to make ends meet. If you want to have financial security and the ability to spend money on activities you didn’t have time for when you are working, you will need to plan for more when you retire. Here are some financial preparations you should take before you retire.

Invest in alternative forms of income

There are some really great ways that you can keep earning valuable income after you stop working. One popular method that many people have found success with is investing in real estate. You can hire a company to manage the property for you, so you can get an income each month without doing any work. You can use TitleMax to get the extra money you need to invest in the right opportunity. Find a method that will work well for you in the future and invest now.

Set savings goals for yourself

If you want to have extra money for things like travel when you retire, you will need to plan accordingly. Set savings goals for yourself each month that will get you to the goal that you are working towards after retirement. Having this extra cash is not only a great emergency fund in case something unexpected happens, but it is also a great way to plan for the future you will have after retirement.

Determine what your new budget will be after you retire

Your budget will change a lot after you retire, and you should be prepared for those changes. Not only will be losing your income, but you also won’t have a lot of the expenses that come with working, like commuting costs and work clothes expenses. It is a good idea to think about all of these aspects and try to plan an exact budget for your life post-retirement. This way, you will know exactly how much you will need financially so you can prepare for it now.

Eliminate all debt

The best way to improve your financial standing in any stage of life is to reduce the amount of debt that you owe. When you retire, you will have less free cash to make debt payments, so eliminating that expense before you retire is essential. Find a way for you to pay off your debt before you retire to start fresh in your new life.

3 Old-Fashioned Retirement Rules to Discard

I am not much in love with rules of thumb when it comes to finance though their significance to the rank and files cannot be downplayed. From experience, I know everyone is not willing to research on the financial topics and they love to stick by easy-to-remember conventional rules. On the flipside, these guidelines are often not correct and outdated as well, keeping you away from fulfilling your financial goals.

When people think about saving for their after-retirement life, most of them get attracted to these conventional rules. Unfortunately, these are often claimed to be facts even though most of them are no longer applicable. Here are two obsolete finance rules as well as what you should follow instead:

$1 million will make your life comfortable

The first rule of thumb says $1 million is a nice sum to live on whereas the reality is it is no longer a big figure that it was used to be a decade ago. It cannot ensure a comfortable life for 20-25 years, particularly if you live in a posh area and enjoys a high living style.

Though it is not a hefty amount anymore, it is still a dream figure for many Americans. In fact, less than 5% of total Americans earn $1 million in their lifetime. For many, it’s so frustrating to accumulate the amount that they will give up the idea of saving at all.

What you should do: Make it a target to save eight times of your final salary. There is no easy-to-remember figure; rather things are more personalized to make the goal achievable for any worker irrespective of his/her salary slab.

Replace 80% of your last salary after retirement

It’s not an out-of-date advice. However, it’s too much generalized and you can hardly figure out how much to save for sunset phase of your life. How much you will need in your post-retirement life depends on activities during that time. If you want to travel around the world, you must have more nest eggs. If you experience frequent or serious health problems, more retirement income will be needed than what you would if you stay fit and fine just like what you used to be in your heydays.

What you should do: Figure out how much you need, depending on your present lifestyle. The conventional rule does not consider several variables in a retiree’s life, including cost of living, health issues, leisure activities etc. Take time to question yourself about what you want to do after retiring from service and how much you need to support your lifestyle.

How to Optimize Your Mindset to Succeed In Forex

While Forex deals in the trade of the most valuable commodity, Money, it is often a market with severe possibility of losses. Studies show that nearly 90% of the forex traders suffer from small to major losses due to several errors in judgment. Despite of the chances of terrible and mind shattering losses, forex trading is a popular business and experienced traders make huge amounts of profits through forex trade. Hence, it is an obvious natural question that what do the experienced and professional traders do in order to make huge profits that you don’t? To answer this question one often needs to focus on the mindset of a professional forex trader as the reason for their success lies in the way they think. Here are some quick tips on how to think like professional forex traders.

  1. Taking Control of your Emotions

The words business and emotions are the worst enemies and can rarely go hand in hand. When it comes to forex trading, chances of emotional outbursts are high as your hard earned money is on the line. Fear and greed are the two major emotions that one needs to be wary of. Remember that forex trading is a risky business and money loss is inevitable. With proper patience and self control, it is very easy to eliminate fear and greed that lead to bad decisions.

  1. Aim To Control Your Actions Rather Than The Market

Unlike the other markets, forex trading isn’t about tycoons and kingpins. Most professional forex traders aim on deriving the maximum profits from the various opportunities that are present in the market. Experience traders know the importance of disciplined trading and do through market analysis before jumping into the market. Trying to conquer and control the forex market is not only a foolhardy notion but will only result in loss of your hard earned money.

  1. Never Make Wild Guesses

The most common cause for failures in forex trading is caused by the habit of making wild guesses and bets. Most failing traders are somehow led into the belief that they know how the market will function. Most experienced traders are well aware of the fact that forex is one of the most volatile markets in the world and one needs to analyze the market conditions properly before making any assumptions. No one truly knows how the market will do next and it is best to adopt a set and forget trade mentality for higher chances of success. An exit before the stop will not only curb your chances of success but will also have a bad influence on your confidence.

  1. No Risk No Reward

Most experienced traders know about the 50-50 chances of success in the forex market and thus take calculated decisions that may lead in smaller losses but also bigger profits. Traders must respect the market and think more about the level of risk involved than its reward. Anticipation of trades and risk bearing are the primary quality that successful traders have. Remember, that the forex market is not an ATM machine but a roulette wheel that can result in losses. Professional traders are known more for their risk bearing abilities than the overall profit they have made.

  1. Do Not Get Attached To Things

For a long term success in Forex, one must first and foremost, learn the ability to let go of things. Forex trading has no room for emotions and attachments and knowing when to exit is an essential quality that traders should possess. Getting attached to non-profitable will only cause you further harm and make you lose your hard earned money. Holding a position for too long is never advised and will cause significant damage to your morale and possibility of long term gains.

Forex trading is a waiting game which requires immense levels of patience and analysis. Planning your moves in advance will not only protect you from unexpected losses but will increase your chances of making a good trade.

Luke Peters is an avid reader of books and other materials related to finance, marketing, trading and stock. He is also an experienced forex trader on forex trading platforms like cornertrader.ch where you can also find Cfd trading tutorials or create a demo forex account.

Best Android Apps to Manage Your Budget

Based on the Linux Kernel, Android is a popular mobile operating system co-developed by Google. It was initially launched in 2003 as an alternative to Symbian and Windows mobile operating systems for touch screen devices and smartphones. In 2005 the company was acquired by Google who saw the development of the operating system into its current state. Android is a remarkable user interface based on direct interaction with the aid of touch screens and virtual keyboards. Today, Android OS is known for its multifunctional user interface and largely supports open source applications which are developed by independent app developers. If you are looking for an app to manage your budget, here’s the list of the most popular ones available for your Smartphone.

  1. MoneyWise

While being a relatively new addition to the Google play store, MoneyWise is available in both free and paid versions. While the free version makes it convenient for a tryout, the paid version has most of the practical features. Opening the app shows you your total income and expenses and shows the difference between the two. Bill payment reminders, auto-filling of commonly used transactions, separate widgets for income, expense and unspent amount, calculator, currency converter and an ATM/Bank locator are the most stunning features in this App.

  1. My Budget Book

Despite of its simplistic interface and lack of graphical features, My Budget Book is the hottest selling budgeting app available at the play store. The home screen shows 9 shortcuts represented with icons that allow you to separate your income, expenses and savings. The separate icon for uncategorized transactions allows you to apply various budget categories to keep your resources organized. Budget reports, password protection, DropBox integration and currency converter that support over 100 different currencies are the various additional features in this app.

  1. Budget Calendar

Using an ingenious calendar to manage your monthly budget, the Budget calendar provides a great number of functionalities to the user. The calendar interface provides a much easier way to plan your budget as compared to the confusing ledger system employed by most Apps. You can appoint each expense to a specific date on the calendar and also set payment reminders which never let you miss the payment of important bills. Detailed monthly reports, statistical data and budget forecasts based on your spending habits are the few additional features in the Budget Calendar.

  1. Toshl Finance Budget & Expense

Available in both free and paid versions, the Toshl Finance Budget & Expense app is one of the best apps to manage your budget. Despite of its high price, the app is highly popular due to its smooth interface and multiple functions. Budgets can now be planned on a daily, weekly, monthly, yearly or onetime payment basis. Adding multiple budgets and sources of income, easy export to popular file format such as excel and PDF, monthly email reports, data sync and online expense search are the distinctive features of this app.

  1. Mint

 A powerful app developed by Intuit inc. Mint pulls all your expenses, income sources and savings under a single page. The homepage itself displays all your financial information including bank accounts, credit cards, loans and investments etc. in a single place. You can categorize your spending under different headings such as gas, food, electricity bills and phone bills etc. and provides you will several features that help you track your unknown expenses. The app is available for both smartphones and tablets and provides a high quality budget management with regular alerts.

It is easier to keep a track of your earnings and spending if you are a minimalist. However, for people with various sources of income and several expenses, it is always advisable to use any of the above apps to organize your finances. Apart from these one can also find out several other popular and multifunctional apps for budget management, straight from Google play store.

Luke Peters is a technology enthusiast and like to write about various topics like finance, law, technology and gadgets. He is also a content contributor for several blogs and websites like mediagroupperformance.com that is the best place to find rtb advertising for financial services companiesand likes to keep up to date with the latest developments and news in the market.

Advantages Of Placing An Online Advertisement

Placing an online advertisement for buying and selling stuff is pretty much in vogue these days. Thus, if you’re willing to earn some or save some extra bucks, these online classifieds can be a great option. Simply place your advertisement, and you’ll soon a get a huge response. Well, with the easy-to-use interface of the websites, placing an advertisement is of no hassle at all. But that’s not all; you can also compare the rates and finally buy or sell your goods at the best rates with these online classifieds. Read on, for a quick scoop on some of the best advantages of placing an online advertisement.

Overwhelming response

This is one of the major reasons, why you should opt for these online advertisements. With these ads, you come, a step ahead to the prospective buyer or seller. In fact, in most cases, you get an overwhelming response right after you post these ads. As these advertisements can be posted and viewed for free, people across the globe will get the access to the check the product. In fact, the reach of these online advertisements is way greater than the regular ones in newspapers.

Quicker response

An online advertisement has a quicker response than the regular newspapers or anything of similar sort. As these advertisements have no Geographical boundaries, people across the world can check it and avail it. Thus, from a seller’s point of view, these ads turn out to be an extremely profitable deal as they come with absolutely no complications and have a wider reach and greater impact on the people. Unlike the conventional mediums, interested individuals can contact the seller directly without any hassle. Thus, online classifieds have a greater response due to lesser complications involved in contacting the sellers. You can thus post free ads in Ghana and enjoy quicker and tad more overwhelming response than the conventional mediums.

Extremely economical

When these advertisements can be posted or browsed for free, there’s absolutely no question regarding their affordability. These ads are extremely economical and they also bring the right buyers closer to sellers and vice versa. In case, you want to stand ahead of the rest, you can also promote your advertisement at an easy and extremely affordable rate. With this promotion, your advertisement will be at the top of the page.

All in all, if you want to buy or sell your things quickly, at the best prices and to the right buyer/ seller nothing can work better than choosing these online classified portals.

How to Improve The Credit Without Credit Cards?

Either you must be very wealthy or you execute your planning to live frugally to survive without the need to apply for loans. Most of the people are in need of credit at some point or the other. Wise use of credit cards helps to build credit which is necessary to get approved for loans if needed. However, not everyone can get credit cards. While some are denied the cards, there are those who are hesitant to get credit cards for fear of getting into debts. Since it is necessary to have good credit while applying for loans for any of your financial requirements such as buying a home, a vehicle or for education, it becomes inevitable to learn the strategies of building credit even without using credit cards.

Options to improve the credit score after bankruptcy

A good credit report helps to get loans for reasonable interest rates. You can save on insurance premium. When you are on the lookout for any utility provider, it is your credit report that determines whether you are required to pay any security deposit. A good credit rating saves you hundreds of dollars every year. Since bank accounts are considered as the indications of financial stability, it is recommended that you create bank accounts. The financial dealings are being observed by the major credit bureaus, especially after bankruptcy. You can request the okay lending companies to report your prompt payments to the credit bureaus so that your ratings get improved.

The monthly payments towards the rent, water, power and cable utilities can be reported even though these companies are not obliged to report your financial activities. By becoming an authorized user of someone else’s credit card, you can avoid a card for you but boost the credit score. However, you need to be cautious while using this means to improve your credit score. The person who owns the card should have prompt payment records or else your score gets hurt. Fortunately, your credit accounts can be removed if you remove yourself as an authorized user.

Instead, a joint credit card can be opened which is not the same as using other’s card as an authorized user. Some of the people keep away from credit cards due to the fear of default. However, if you find it difficult to get approved for credit cards due to poor credit history, you can try to consider the alternative options. Secured cards can be obtained from banks by making a deposit. The card with a specified credit limit of the amount deposited can be obtained. This card functions as a prepaid card. It should be ensured that the banks or the credit unions that have issued the card report the transactions to the credit bureaus.

The fees are quite high. The interest rates are also higher. However, the option is considered by many people after the discharge of bankruptcy to rebuild the credit ratings. Charge cards which are similar to credit cards do not allow balances and you are required to settle the bill entirely every month although there is no limit to the amount you spend. Getting a loan is a good idea if you are confident of making prompt payments. The loans help to improve your credit score as long as they are yet to be settled. Whether it is the credit card loan or loan of any type, it should be ensured that the repayments are reported promptly.

Secured loans can be considered as the approval is faster than for unsecured loans. The interest rates are higher for the borrowers with poor credit. However, the rates are lower for the loans from credit unions than from banks. If you have difficulties in getting approval, you can seek the help of a cosigner with good credit to obtain the loan. Peer to peer loans can be alternative sources for poor credit borrowers. Although the interest rates are higher for short term unsecured loans, you can have the choice of interest rates with peer to peer lending unlike in payday loans which are very costly.

Understanding Trading Regulations of Binary Options

Binary options are relatively new and until recently, not as closely regulated as other forms of trading. At first, they appeared as a refreshing opportunity to invest in a market attempting to rally back from global financial failures. However, unsuspecting buyers experienced unjust conditions, market infractions, thievery, and in some cases monetary ruin. In response, several countries have implemented measures designed to offer protection to binary options traders. Therefore, it helps to be aware of the current trading regulations and to understand what to look for.

Protecting Traders

The burden of regulation falls primarily on binary brokers in order to ensure that they are supporting the best interest of their clients. Brokers need to have a physical establishment with a respectable staff that is equipped to handle claim withdrawals. They must be prepared to undergo periodic regulatory enquiries. Client funds are to be separate from broker accounts so as not to suffer a loss due to brokerage bankruptcy issues.  The purpose of these regulations is to prevent traders from fraud and unjust financial damage.

Regulation of Binary Options

Until recently, there has been little regulation in the binary options arena. Binary options received a reputation as a type of gambling rather than respectable financial trading. There was little segregation of funding sources.  Government regulators failed to monitor binary options brokers. Binary operations were not always transparent and capital requirements remained open-ended.

Fortunately, the binary options situation for trading regulation is undergoing a transformation. As of May 2012, CySEC (Cyprus Securities and Exchange Commission) announced a change in binary options classifications. This development followed grievances regarding “bucket shop brokers operating in Cyprus.” As a result, the classification for binary options changed causing them become ‘financial instruments’ requiring regulation. This revamped policy was to go into effect late in 2012 and by late 2013, all binary options dealers had to conform to the new regulations.

International Regulation

Since then, Malta has transferred binary options status from the gaming industry to the Financial Services Authority. Japan no longer allows for trading options with expiration under two hours. Italy and Turkish industry regulators for financial services can legally block binary options IP addresses to selected brokers. France and Spain have warned binary options agents about regulatory status requirements. In the UK, the Financial Conduct Authority regulates binary options trading. In Australia, regulation occurs through the Australian Securities and Investment Council.

US Regulation and Trading

The US allows a single regulated dealer for binary options, NADEX. As such, it provides for trading on several instruments, regulated through the Commission for Commodities and Futures Trading. North America requires US citizens to report taxable profits to the IRS. Additionally, US law prohibits binary options traders from dealing with brokers from other countries.

Although the handling of regulatory requirements differs between countries, it is clear that both traders and binary options brokers must adjust to heightened standards or face potential financial loss.

What are Basic Bank Accounts?

A basic bank account — as the name suggests — is an account that provides basic banking facilities.It provides a place for you to store money and pay money from, but with no overdraft services or in-credit interest.  There are saving and checking accounts as different options for your bank accounts. In addition you will be given a debit card which you can use to make payments online and in shops. The account also allows you to make direct debits. This is good as it can make bills cheaper as compared to paying by cash or by cheque.

Is the account free of charges?

Not really. Just because there are no overdraft charges it does not mean that there are no charges. Charges on this account will however be incurred only when you try to make a payment with your debit card or have direct debits going out when you do not have adequate funds in your account. You will incur a charge; an ‘unpaid transaction fee’ of up to £25 for each transaction.

The basic bank account is not publicised because it does not make any money for the bank offering it unlike the standard bank account. Unless you make a mistake, the bank has no chance of making money from you as a customer.

Instead, the bank will make a loss due to administration costs related to your account, for example; setting up the account for you, producing and then sending your debit card and bank statements. This is money the bank might never recover from you. Banks therefore do not tell clients about these accounts as they are not beneficial to them and would thus prefer not to have them.

Who are these accounts for?

Anyone can open a basic bank account at a trusted bank like BB&T. If you have a very poor credit history with some serious defaults, CCJs or even bankruptcy, it will be very difficult for you to open a standard bank account. In this case, the only bank account you can own is a basic bank account as you sort out your credit issues.

You may choose to open this account even with a good credit history if you want an account that will help you manage your money with no overdraft facilities. You will have to ask for this account specifically as the bank might try to push you towards a standard account.

The only people who cannot open this bank account are those who have been convicted for fraud. Other convicts can still apply provided they fulfil other account-opening requirements. All you need to open this account is a form of identification. Without this, your application might be rejected.