Before reading this, you have placed your money in accounts in one bank or two, usually one for personal and savings and another for business purposes. For some, they put all their eggs in one basket and cross their fingers. What I am about to reveal to you and the world is my methodology limiting liabilities for every transfer of funds within the banking system. Using my methods, you can set up your own connections or have your bank set them up for you.
And I am sure there are many companies out there who will jump
on my method to help service clients making them profits from your
unwillingness or inability to call a bank, any bank, on your own. However, if
you are a very large corporation with many employees, setting this system up is
easier than paying some other company to do it for you. And you will be assured
of funds availability even if a bank goes under or is taken over by the FDIC.
If you have demanded your workers open an account in your bank so that you can easily pay them, you are not in control of your credit. What you should do is to allow your employees to open an account in banks nationwide. Spread the love explaining to the employee that they will be insured by the FDIC no matter the bank used as long as that one account does not exceed $250,000. Let them choose their bank, only not your income deposits bank.
Put your money in every bank your worker has an account in. From
those spread-out assets, you can at any time withdraw from multiple accounts and
banks to cover any major expenses or expansion. As long as you have the bank's minimum deposit they demand, the bank will see a steadier client base, which makes sure they have guaranteed ability to invest with your funds. The banks won’t mind. They just want more money in their bank.
I also think banks should be made to carry a little more liquidity than they have depositor funds. They should perform business like they would their personal banking and keep on-hand money the bank needs to cover business liabilities for at least three months. This is what you should do for your personal finances and this method should apply to business, as well.
What this does is to have your account in your workers bank
send payment to your workers account which is in the same bank. Your CEO or
accountant makes sure there is always enough in all accounts in all the
diversified bank accounts to cover business or personal expenses by simply
making a single deposit in your business account. In fact, whenever you perform
a transaction with clients, you can have enough funds in their bank to cover
it. A simple account set-up, wire transfer money into that account, then pay
your client or receive money from them.
Here is the sweet spot. Your clients will also be spreading
their funds into accounts in major banks in every state where you can both
perform transactions, especially if the client is a large company. So, here is
how it works. If you have, let’s say, $100,000 business income to be put into a
bank account so that you can perform business paying suppliers and works, you
can split up the $100,000 putting a certain amount in multiple banks in any
state, or every state. If your supplier is owed $10,000 and your account in
their bank or in that state will not cover it (not enough money in your account
at that bank), then your bank in that supplier’s bank or in the state can
perform a “request” for funds from another of your accounts in another bank or
state bank account as an instant wire transfer into the account paying the
supplier.
You can also set up a process with any banking system to
pre-approve your request for funds transfer so that you can designate any or
multiple bank accounts to cover that bank account during possible overdraft
payments. This means that your bank is given access to your other accounts located
in other banks, possibly even overseas, attached to your account in their bank
giving them the ability to transfer money into your account to cover expenses
when your account balance is insufficient or if you give notice of a pending
transaction.
Your banker would also be allowed to move enough money into your account in their bank from your chosen transfer accounts to maintain your account. This makes sure that you will have that open account and the ability to increase at any time the amount in that bank account, anywhere. Because you have authorized your account manager to access your other accounts located in other banks, this frees you up to focus more on business instead of juggling funds.
You can simply deposit any amount into your one deposit account and that
bank management will transfer the correct amount to your needy account located in
another account either in their bank or in a competitor’s bank. If making payroll, simply have authorization set up in multiple account-share banks that you can revert to and send employees their pay when a bank crisis occurs. Requests come
into all of your accounts in every designated bank when one account needs
funding. You are instantly covered.
I know this seems a very complicated method and system and
there may be initial push-back from bankers, but they will soon realize that
this method also applies to them. The banks benefit because depositors
will feel more confident in banking; thereby, increasing deposits and transactions.
Banks may set up a wire transfer fee for this service, but it is still less
expensive than running out of funds for the account holder and it is less
expensive for the banks who must issue NSF’s or deny service. The banks also
have a more diverse client base as a person living in California opens up an
account in New York, or anywhere in the world.
I suggest this method for individuals, as well. Do not put
your eggs in one basket! Open accounts with as much money as you can per each
bank. Each account is insured by the government to a certain limit, so you can
set up an account in the same state as your family member, school, or organization.
Choose wisely! Make sure the chosen bank states in writing that they are
willing to account-share your assets in cooperation with other banks. As you
make more savings or income, keep going. The goal for everyone is to spread out
your money into as many banks and accounts as you can put on your spreadsheet
as long as they each can be sufficiently sustained with deposits into your
favorite account. Please remember to either alphabetize, categorize, or by state
or country, etc. It makes it easier to close accounts or consolidate later, if
needed.
The spreading of assets into various banks makes sure that everyone’s money is safe from bad banking business practices. What you need to do is to demand this “Account-share” access, authorization, transfer, and system from your bank. Explain this process as best you can and do your research finding the best transfer bank where you can put your other accounts. When you have all your accounts set up to a certain extent, keep going.
Bank to bank, open
account after account and link them with your deposit account bank. You can
keep track of the money. It is easier than you think. Online notifications are
easy. You may be surprised to find that you are saving money by allowing the
money to free flow on its own throughout your accounts (you can put these on a
spreadsheet or piece of paper if it makes you feel better). You only need to
keep track of the deposits and the expenditures, which by the way the banks do
for you as well. They have accountants who do this daily.
This is a new standard for bank accounts. Once bankers
understand the benefits of diversified sharing of credits and debits and how
their bank more easily secures accounts using this method, they will implement
this as an offering to possible depositors. This is a huge draw for potential
business accounts as the business owner can pay employees from multiple
accounts knowing that if something goes wrong with the financial institution,
their employees and them are secure. After all, isn’t that what banks do?
Security? This is the ultimate offering any bank can give their customers. All
aboard!
I hope you enjoyed the read! If you still are saying, “Huh?”,
talk to your banker about this possibility and your accountant. It may take
time for this to make the rounds, but you can take the lead and tell them where
to find this information so that they can read it, too.
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