The reason this advice company is so important is that over 80% of the American public do not have a financial counselor. An independent source of information that is unbiased and constructive is needed to give direct help to the American consumer.

An example of why this service is needed comes from the Pew Charitable Trust report which stated that over $34 billion of overdraft fees were paid just last year by the American consumer. This occurred despite the fact that 70% of the accounts that were charged these fees had sufficient funds in savings that would have prevented this fee from being charged to their accounts. Their report went on to say that over 20 million Americans have their money in low interest bearing checking accounts and 10 million did not have a checking account.

As part of the Campaign for American Workers Initiative, the federal government gave two of the non-profit Rockefeller foundation organizations $70 million to help low income Americans with their financial needs.  10,000 Americans were thus given subscriptions to HelloWallet as a result.

In total, HelloWallet represents 3.5 million Americans with their financial needs with 24/7 personal money management support and monitoring. For recognition of their work for the public good, this organization was recognized at the Clinton Global Initiative 2009 Annual Meeting for its commitment to trustworthy sophisticated financial guidance for the public good.

Before deciding on any bank rates, seek qualified help and ask for help from HelloWallet. Review of their work is reason enough to listen.

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So far, the best deal comes from Cleveland-based KeyBank which is offering up to $275 when you open any one of their business checking accounts – Key Business Reward Checking Account, Key Business Checking Account, Key Business Money Market Checking Account, or Key Business Sweep Checking Account. They also have a $225 cash bonus when you open a new Key Business Free Checking. Any one of these must be opened by April 30, 2010 to get either bonus. The business account must be enrolled in either Online Banking or Key Business Online, and you must complete two Bill Pay transactions by July 2, 2010 to get the cash gift. The bonus will be deposited into your account within 90 days of meeting requirements. Offer is available to businesses without an existing checking account at KeyBank as of 2/26/2010.

KeyBank also has a $200 cash bonus promo when you open a Key Privilege Checking or a Key Privilege Select Checking, and a $150 cash bonus when you open a Key Express Free Checking or Key Advantage Money Market Checking. To get the respective cash bonuses, any of these must be opened by April 30, 2010 and you should also make one KeyBank Rewards debit card transaction plus a combination of two direct deposits and/or automated payments each of $100 or more by July 2, 2010.

Other checking account bonus you can check out HomeStreet Bank’s $215 cash bonus promotion for a new personal checking account. Check out their respective websites for their bank rates and compare the details for the best checking account bonuses March 2010 for you.

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The special $150 checking account bonus promotion is available until 4/30/2010 to new clients who do not have an existing relationship with SunTrust Bank or does not have a SunTrust checking account as of 1/31/2010. The new client must not be a signer on a SunTrust personal checking account that was closed on 1/31/2010 through the date of account opening.

An eligible new client opening a new SunTrust personal checking account from 2/1/2010 through 4/30/2010 will receive $50. The newly opened SunTrust personal checking account must be enrolled in the special promotion through suntrust.com/solid. 3 bill payments through SunTrust Online Banking with Bill Pay must be made within the next 2 calendar months from the new personal checking account enrolled in the promotion. To receive the additional $100, the client must qualify for the $50 offer and must continue to make at least 3 payments each month for the next 3 consecutive months, through SunTrust Online Banking with Bill Pay from the new personal checking account.

Once SunTrust determines that the client met all the terms of each section, the appropriate amount will be direct deposited into the primary SunTrust personal checking account enrolled in the promotion, up to 10 weeks after the last bill payment was processed. The client bill payment status “Processed” must show, to be eligible. At the time the direct deposit is paid, the SunTrust personal checking account must be open and must be in good standing.

The special promotion is valid to U.S. residents only and must be 18 years of age or older to qualify. For additional information on the special promo and bank rates, check out SunTrust website. SunTrust Checking Account, $150 Checking Account bonus is limited to one account per new client.

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To qualify for the bonuses, a checking account must be opened. There are six to choose from. There is the Green Checking, Student Checking, Circle Gold Checking with Interest, Circle Checking with Interest, personal Checking with Interest and Circle Checking.

The $100 bonus has several different parts to it. There is a $50 bonus for those with a checking account that set up a direct deposit of $250 or more. Then there is an additional $25 for the use of the debit or credit card 5 times on signature based purchases. The last $25 is for paying a minimum of 5 bills with the Citizens online bill payment system. This is a total of $100 once all the requirements are met.

To qualify for any of these bonuses a new checking, debit card or credit card account must be opened between February 20 and March 26 2010. The above stated requirements must be fulfilled April 30, 2010 for the account to qualify for the bonuses. The bonuses will be paid to the qualifying accounts by June 30, 2010. This amount will be reported to the IRS as prescribed by law.

If the qualifying account is closed with 6 months of opening, the bonuses will be deducted from the account before it is permitted to close. The bank rates on the interest bearing accounts can be found at the Citizens online banking website.

The Citizens Bank Checking Account, $100 Checking Account Bonus is only available for a limited time and in certain north eastern sates.

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To take advantage of this offer, apply online using the reference offer code AOU261209. This offer is available only to new customers who open a qualifying personal checking account with a minimum balance of $500. The new checking account must be open for at least 30 days and you must make a minimum of one transaction with the newly assigned check card. The new customer will receive the incentive upon verification of qualification in the incentive program. The $100 bonus will be directly deposited into your new checking account within 90 days of its opening. Otherwise, a check will be issued. The new costumer is not eligible for this offer if they were a signer on a Bank of America checking account that was closed within the last 3 months and there is a limit of one offer per household. This offer is does not apply to Bank of America associates, current checking customers, or student checking accounts. For Tiered Interest personal checking accounts, check your local branches for the current bank rates.

According to the fine print, the offer was available till 2/28/2010, but since the special bonus is still currently on their website as of 3/4/2010, it is highly probable that the Bank of America Checking Account – $100 checking account bonus is extended in some areas, but confirm with your local branch.

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Federal Reserve is the apex regulatory authority in the United States and controls interest rates and other features of banking and financial industry. Fed funds rate is determined after taking into account all the conditions and factors playing their role. These rates are determined by the Federal Open Market Committee that meets eight times a year with an average gap of seven weeks. The committee can convene additional meetings in case of extraordinary financial situation.

The bank rates determined by the committee are binding on all financial institutions working in the US. Each bank is required under federal laws to keep a certain percentage of reserves that can be used in inter-bank and federal borrowing. These reserves are around 10% of a bank’s demand accounts.

Federal Reserve funds rate is determined after consultation with the banking authorities. These rates are subject to quick fluctuations and have hardly remained the same even within a year. Economic situation plays the crucial role in determining these rates and capital raise and other issues also come into play. Fed funds rate do not have a direct impact on ordinary customers though they can impact a bank’s services in the longer term. Many people hedge their bets on this rate and stock markets have always played an important role in influencing the course of economy based on Fed funds rate. Federal Reserve exercises significant control over banks through these rates and can outright stop inter-bank lending.

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The new rules include that interest hikes are not allowed during the first year a new credit card is issued except under limited circumstances. Rate hikes cannot apply retroactively to existing credit card balances. Hiking interest rates on future transactions, however, is still allowed as long as the credit card issuers give at least 45 days’ advance notice of the change and allow customers to opt out of the rate hike. The rule bans several harmful practices and requires greater transparency in the disclosure of the terms and conditions of credit card accounts.

Among other things, the new credit card law will limit are fees such as those charged when consumers exceed their credit limits, pay bills online or by phone. The new credit card law will restrict the issuing and marketing credit cards to young adults and on college campuses. Starting Feb 22, anyone under the age of 21 must get an adult to co-sign on the account if they want to open their own credit card accounts or show proof that they have independent means to pay for the card debt themselves. The new law will ban the practice called “double-cycling billing” in which card issuers charge interest over two billing cycles rather than one. It will also prevent credit card issuers from allocating monthly payments in ways that maximize interest charges to consumers. The new law will limit upfront fees charged on subprime credit cards issued to people with bad credit. It will also ban shifting due dates so that payments will be due on the same day every month.

We might still see some sweeping changes with bank rates but the Credit CARD Act rules herald a new era for America’s credit card customers.

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If you are going to use credit, then do it wisely. With credit cards there are several different types that should be in your spending portfolio. The 0% balance transfer cards are a great way to consolidate your debit. This is only an introductory period of usually 12 months or 12 cycles. Some are up to 15 months while others are as short as 6 months.

The appealing aspect of the 0% interest rate on transfers is that it appears to be a free loan. The catch is in the fees that are charged to actually make the transfer. The typical fee is 3% of the transfer amount. Knowing the different features will be the deciding factor if it is truly beneficial to make the transfer.

Take Citibank for an example. You can get their platinum card with a 0% interest on transfers for up to 12 months, but not on your purchases. They also have a Forward SM card that has a 0% interest on transfers and purchases but the time period is for only 6 months. But this card gives the customer a $100 bonus for signing up. The catch with both of these cards is that there is a 3% fee on all transfers. If you transfer $10,000 to one of these accounts, it will cost you $300 to do so. The interest rates at the end of the introductory period will be dependent on your credit score. Unfortunately, when consolidating your credit, it will have a negative effect on your credit score and the best interest rate you can possible achieve is the prime rate of 15%.

Simmons, IberiaBank, and Pulaski have the best 0% balance transfer credit cards because there are no fees attached to them when a transfer is made. Your bank rates will do nothing but climb as long as you continue to spend on credit.

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A reverse mortgage is a special type of loan where the financial institution pays the home owner a sum each month of a predetermined amount according to how much equity is in the home. There is no repayment until the home is no longer the primary resident of the home owner. In many cases, this is until the senior is admitted to a nursing home or dies.

To qualify for this type of loan, the applicant must be over the age of 62, own the home, and there is no mortgage or the balance is relatively low and it can be paid off with funds from the reverse mortgage. The home must also be the primary resident of the elderly home owner.

The types of homes that are eligible for this special type of loan are single family dwellings, 1-4 home units that are occupied by the elderly home owner, and some manufactured homes and condominiums that are HUD approved.

The home can never be foreclosed on as long as the elderly owner is still using it as a primary resident, and the taxes and insurance are kept current.

When the home is no longer occupied, it is to be sold. The funds that were paid out plus any associated fees will be reimbursed to the financial institution. The remaining equity will be returned to the home owner or to those that are specified in a will, if death has already occurred. The specific bank rates of the interest vary from the many financial institutions, so make personal inquires before deciding on which the HECM Reverse Mortgages is best for you.

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To support the positioning of the bank as a global financial services player as opposed to its roots as a national bank, Royal Bank of Scotland started to use the “RBS” initialism in 2006 to move away from referring to both the Group brand and its retail banking brand. The Daisy Wheel logo, an abstract symbol of 4 inward pointing arrows, was adopted by RBS subsidiaries Ulster Bank in Ireland and Citizens Financial Group in the U.S.

As a global financial service for its customers, RBS now has online banking services referred to as Digital Banking. You can do your banking needs anytime, anywhere as long as you have a computer and internet access. Customers can save time when they check up-to-the-minute balances and mini statements, with Digital Banking. You can also stay on top of your finances by having the ability to check your limits and keep track of your spending at any given time of the day, at any given day of the week. Digital Banking also allows you to move your money instantly between RBS accounts any time you need to. You can also settle your bills, make payments, and manage standing orders whenever you like, wherever you may be. You have quick and easy access to your online statements to up to 7 years worth of transaction history. No more rummaging through your files and paperwork at home. You can also access the current bank rates with Digital Banking. Customers can safely do all these and much more online thanks to RBS’ advanced security systems that provide added protection for your money through free software they provide.

You need to be 16 years of age or over and have an RBS current account, credit card, savings account or loan to sign up for Digital Banking. Learn more about RBS Online Banking by visiting their website.

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