Review on Silicon Valley Bank by Barry Smallwood
Shocking national bank examiner idea
Silicon Valley Bank, an affiliate of SVB Financial Group, is a U.S. based high-tech financial institution. The bank was one of the first to provide online checking to consumers. Today, it offers online savings accounts, checking accounts and prepaid debit cards. The bank was also one of the first to offer online credit cards. As such, the bank offers a variety of financial products to meet the needs of its customers.
Silicon Valley Bank charges a fee for its online services. The fee it collects from online users is called a" penalty fee" or "transaction fee". This fee is added to the balance of the consumer's checking account and varies with each bank. In addition to collecting this fee, some banks require the user to maintain a certain balance in their online checking account, to cover the bank's costs. Online check cashing services may be free, but some banks will charge a fee for this service.
The amount of money you can expect to pay for an overdraft fee depends on your bank and the terms of your financial transaction. For example, if the overdraft occurs due to a direct deposit from your employer, your bank may waive the fee. On the other hand, if you overdrew your account by using a check that was written by you and not the bank, then the bank may repossess the check that contained the funds. If you use an automatic overdraft service, this type of fee may not be assessed unless you use an automatic check cashing machine.
Pros
- Extravagant certified check scheme
Cons
- Frightful administration
- Desperate lien reason
