Bank finance articles and tips

These are the top 10 most important questions you need to know when interviewing at an investment bank. The top questions include "tell me about yourself," "why this firm," and "why banking over consulting or sales and trading."...

In 1967 a Barclays bank located in England opened the first ATM, or automatic teller machine. Also commonly referred to as a cash machine, or as a bank machine, ATMs are widely used. Many individuals who use an ATM do so for the sole purpose of taking money from their current savings account, or their current checking account. Phone bills, and also utility bills, among other things, can be paid through the use of an ATM.

Bank customers are accustomed to the services provided by ATMs, and now consider them essential. The entire industry of banking was revolutionized by the ATM. People no longer had to stand in long lines to access money in the bank. Appreciated by many people was the fact that they had access to all of their funds even if the bank was not open. The customer experience when using an ATM could still receive improvements.

Gold prices hit a new high above $1600 on Monday as a result of a powerful cocktail of economic uncertainty, difficult US deficit ceiling negotiations, European Union sovereign debt concerns and the threat of contagion to the banking sector.

Taken singly, the US debt ceiling impasse or the ongoing EU sovereign debt crisis would be sufficient to trigger a gold rally. But together, the affect on gold prices is even more bullish, as investors become wary of USD and EUR assets and seek a safe haven in gold. Based on this, we believe the bullion rally is likely to continue until tangible progress is made on relieving at least one of the sovereign debt issues.

Proof of Funds, sometimes referred to as a POF, is a financial document, usually a statement or letter, which shows one party to the next there is financial capability and funds available to complete a given transaction. It is most often provided by the account holder's bank in the form of a bank letter specific to the transaction in question. The bank letter assists the inquiring party with confidence there is cash funds available, that they are obtainable and legitimate.

A POF may also be used in the preliminary stages of credit enhancement when applying for financing or attempting to engage a party for several purposes including, but not limited to acquisitions of businesses, materials, equipment, automobiles, real estate, REOs, as well as banking instruments and financial instruments.