Category Archives: Answers to questions

Here are my answers to popular personal finance questions

What are Citi ThankYou Points?

August 11, 2022Answers to questionsSlava Money

Using Citi credit cards comes with cashback in the form of ThankYou points. When you earn Citi ThankYou points you should be aware of how they work, what they are worth, and how to redeem the rewards.

How to earn Citi ThankYou points?

Some Citi credit cards earn ThankYou Points as cashback. The fastest way to earn a substantial amount of points is to get a signup bonus when you open a Citi card like Citi Custom Cash with an intro offer of $200 worth of points when you spend $750 within the first 3 months. The Citi Premier card offers 80,000 bonus points when you spend $4,000 within 3 months. The 80,000 points are worth $800 when you redeem their gift cards. Other cards like the Citi Reward card earn you points as well.

Citi Card	Bonus	How much you have to spend?
Citi Custom Cash	$200	Spend $750 within the first 3 months
Citi Double Cash	not any more	Spend $1,500 within the first 6 months
Citi Rewards	20,000 points	Spend $1,500 within the first 3 months
Citi Premier	80,000 points	Spend $4,000 within the first 3 months

How much are Citibank ThankYou Points worth?

The value of these points depends on how you use them. The list of options is long. Gift cards Travel Rewards, you can use points for shopping at participating online partners, use them as a statement credit, or direct deposit, send yourself a paper check, transfer points to partners, and make charitable contributions. With these many possibilities, it is a challenge to choose.

How to Redeem Citi ThankYou Points?

To redeem the rewards you have to login into your Citibank account and find a section with ThankYou points and the amount of your accumulated points. Click on it brings you to a rewards center. There you can choose how you want to spend your points. Citibank offers ThankYou Points Catalog where you can make your final decision.

What are the best ways to use Citi ThankYou points?

I prefer to redeem it as a direct deposit or as a statement credit. Direct deposit as cold cash can be used to buy gift cards in the same way as using ThankYou points. The flexibility of cash beats all other options. The benefit is that cash doesn’t expire. Statement credit reduces your debt which is almost always a good option.

You can redeem the Citi ThankYou points as gift cards for a number of stores and restaurants. For example, you can take a Play Store gift card, Walmart gift card, Target gift card, and many others.

Using points to shop on Amazon is a fine choice as well. You have to link your rewards account to pay for purchases. If there are not enough points to make the purchase you can use your Citi credit card to pay for the difference.

As an alternative, you can transfer Citi ThankYou points to its partners. For example, if you have an American Airlines membership, you can transfer Citi ThankYou Points to American Airlines. On the other hand, you can prefer to transfer Citi ThankYou points to Jetblue airlines. This option makes sense only if you convert it to more valuable points.

The last option is to donate Citi ThankYou points to a charitable organization. I believe it is a bad option as well. Why? When you donate points, you cannot deduct them from your income.

What are Citibank ThankYou points worth?

In the case of direct deposit or statement credit points are worth 1 cent. Gift cards may be worth a little bit more if you use them to buy gift cards on sale. In the gift cards section there are almost always cards that you can buy for less than they are worth. The offers are highlighted with a red label.

How to find PayPal Account Number?

August 8, 2022Answers to questionsSlava Money

Knowing your PayPal account number of your PayPal Cash plus account can help you in many ways. You set up a direct deposit and receive your salary. You can also make ACH transfers from other bank accounts like Wells Fargo and Bank Of America.

First you have to know if you have the account number. Having a PayPal Cash account means you have an account number and routing number. With a PayPal Cash Plus account you receive a PayPal debit card, that can be used to withdraw cash from a large network of ATMs.

To find PayPal account number and routing number you can use PayPal website or PayPal mobile app.

How to find a PayPal Account number on the PayPal website?

Using the PayPal website to find the account number of your PayPal is a no brainer. Open the PayPal website and login using your user name and password. Then on the main screen also known as Dashboard you can click on Settings in the top right corner. It will open an account details page. On the account details page you should find the “PayPal Direct Deposit” section and click on “Go to direct deposit”. On the direct deposit page you can find the routing number and account number of your PayPal account.

There is an alternative way to find PayPal numbers. After you open the Dashboard, find the three dots button and click on it. In the drop down menu find “Setup direct deposit”. You should see the same page as in the first case.

How to find a PayPal Account number using the PayPal App?

On your smartphone open the PayPal mobile app. Login there and on the main screen tap on Profile icon at the top left corner. Then on the Profile screen tap on “Direct Deposit”. On the next screen you can find the Account number and routing number of your PayPal cash plus account.

Alternatively from the Dashboard you can tap on “Wallet” at the very bottom. On the Wallet screen tap on “Go to Direct Deposit”.

How old do you have to be to get a debit card at Chase?

August 7, 2022Answers to questionsSlava Money

Curious kids often ask their parents when they can have their own debit card. The best way to explain how banking works is through a hands on approach. Chase Bank has debit cards for adults and kids. While having a credit card requires having a good credit score and being at least 18 years old, you can get a Chase Debit Card way before 18 years old.

Kids’ parents or guardians should open a Chase Checking account first and only then can they open an account for the child. Keep in mind that the child should have a social security number.

First Banking account

The account you are looking for is called First Banking account. Kids that are older than 6 years can get their own debit card at Chase. When a child is only 6 years old he can get own debit card. The child’s Debit Card has no annual or monthly fee which is great. The debit card can be used to make purchases at point of sale and online. The Chase debit card allows youngsters to withdraw money from 16,000 Chase ATMs. Also parents can set limits on spending and withdrawing cash. To fund a kiddie debit card, parents can simply transfer money from his own checking account.

Chase High School Checking

If a child is older than 13 years old, the parent can open Chase High School Checking and be a co-owner. The high schooler can even send money using Zelle. After a child turns 19 years old, the child’s checking account turns into Chase Total Checking.

Chase College Checking

When a child goes to college and becomes a student, it may be time to get a Chase College Checking account with a debit card. The debit card at Chase charges no fees for 5 years and until the student is 24 years old.

Chase isn’t the only bank that offers checking accounts for kids. Other banks have similar cards. For example, Capital One Teen Checking has combination of checking and savings account for school age kids.

What are Chase ATM withdrawal Limits?

July 31, 2022Answers to questionsSlava Money

All banks have certain limits on ATM withdrawals. Chase as well as other big banks like Bank of America and Wells Fargo limit the amount you can withdraw from checking account. Bank of America ATM limit is $1,000.

You can use Chase ATMs to withdraw cash from your Chase checking account using a Chase debit card. ATMs that give customers money have limited amounts of cash. Having a Chase Debit Card allows you to withdraw money from a Chase ATM up to your account limit and the limit of the ATM. There are daily ATM withdrawal limits that are tailored for Chase customers. You can easily find these limits in the Chase Mobile App. Here is the step-by-step instruction.

How to find limits in Chase mobile app?

First you have to take your mobile phone and open Chase Mobile App.
After you open the Chase Mobile app on the Dashboard screen, tap on your checking account.
On the checking account screen, tap on 3 dots.
In the bottom menu select “Schedule ATM withdrawal”
On “Get cash from an ATM” screen you can see your limit. For example, my limit is $1,000.

If it is not enough you may want to change the ATM withdrawal limit.

How to set withdrawal limits in Chase?

If you need an amount of cash that exceeds your limit, then you can do the following. You can contact Chase customer support via phone line and ask them to temporarily raise the limit.

What is Chase daily withdrawal limit?

All banks have limits on how much customers can withdraw from their accounts. Imagine hackers using your debit card and withdrawing your life time savings. To protect customers and banks themselves there are limits on how much you can withdraw per day. For “Chase Total Checking account” withdrawal limits can range from $500 to $1,000.

However, for premium Chase accounts the limit goes as high as $3,000. For example, Sapphire Banking clients can use any ATM and Chase will offer rebates for third-party ATM fees. Out-of-network ATMs can charge a $3 fee per withdrawal, so ATM reimbursements are nice to have.

Watch how to withdraw Cash from Chase ATM

How to get Approved for Capital One Credit Card?

July 29, 2022Answers to questionsSlava Money

Instant approval for a Capital One Credit Card is a very nice experience. However, often people find that they have to provide some additional information like proof of income and other documents. Even if you have an excellent credit score, you may not be approved instantly. Why?

There are few ways to increase odds of approval for a Capital One Credit Card many times.

Open a Capital One 360 account

First way to increase your approval odds and simplify the process is to open a Capital One 360 account and receive a couple direct deposits with your salary. In this case Capital One can see that you really earn money and can pay off the credit card balance in full every month. The checking account at Capital One 360 has number of benefits that are valuable by themselves.

Enroll in Capital One CreditWise

Second way is to enroll in Capital 1 CreditWise. It is a free service that you can use to track your credit score. Additionally Capital One can access to this information too. Therefore you’ll see more credit card offers for Capital One credit cards. You can check how accurate Capital One Creditwise in my special post.

Prequalify for a Capital One credit card

Third way is to prequalify for a Capital One credit card on their website. Did you know that for certain credit cards your can request pre-approval? Just fill the form on Capital One website and without hard inquiry you can find which card you have high chances. This prequalification increases approval odds for Capital One card.

These are ways that can help Capital One to approve you for its credit cards. However, keep in mind, that approval is never guaranteed and bank can reject your application for many reasons. For example, if your credit score change you may not meet criteria any more.

How long does it take for cash to settle Fidelity?

July 29, 2022Answers to questionsSlava Money

When you deposit funds to your Fidelity account how soon will you be able to use it? Fidelity says that the cash has to settle before you can use it. For example, to purchase securities or withdraw using an ATM or transfer to another bank account. It is better than a large paper check. You may have to wait for up to a week until you can use the money.

When cash is settled you can use Fidelity Debit Card to withdraw cash at an ATM. Fidelity doesn’t have own ATMs so you rely on third party ATMs. But the great benefit of Fidelity checking account is that it offers fee reimbursement when you use ATMs.

Timeline for settling cash depends on the type of Fidelity account. You can refer to terms and conditions and read it by yourself. Most often it falls in range between 1 to 2 business days.

For example, when you sell stocks in your Fidelity Brokerage account or retirement account, it takes 2 business days for the cash to become available. Business day means if you sell stocks on Friday you may be able to withdraw money only on the following Tuesday.

On the other hand, when you sell Fidelity funds it takes only 1 business day for the cash to become available. So over weekend it can become available on Monday.

The bottom like is keep in mind the period when money are not available yet. So that you know when to expect the cash to be ready to use.

Does US Bank have Zelle?

July 29, 2022Answers to questionsSlava Money

US Bank is one of Zelle’s founding banks. In 2017, US Bank, along with other large banks such as Chase, Wells Fargo, and Bank of America, decided to create a universal payment processing system that allows customers to send money to one another via email or phone number called Zelle. The transfer is completely free of charge.

How to use Zelle?

All you have to do to start using this payment system is enroll using your phone number or email. Then other users will be able to send money from their banks. You don’t have to tell which bank you have, the only needed information is your phone or email that identify you in Zelle

How to set up Zelle?

Zelle is best used on the mobile app. When you try to make a transfer and you haven’t enrolled yet, bank asks you to set it up. The process is pretty simple and intuitive. You select the phone or email, send the security code and finish the setup.

How to send money with Zelle US Bank?

Sending money with Zelle is pretty easy.

How to accept Zelle payment?

If you are already enrolled in Zelle with US Bank, then there is no need to do anything. On the other hand, if you enroll Zelle with another bank, money will go to the other bank. Third option, if you haven’t enrolled, you’ll receive notification and have to enroll.

What are Zelle limits of US Bank?

US Bank has certain limits on Zelle transfers. You can send between $1,500 and up to $2,500 per day. Monthly limit is from $5,000 up to $10,000 and there are no incoming limits. Other people’s banks have sending limits.

How to cancel Zelle Payment?

If you send money and later change your mind, there are two options. If a person is enrolled in Zelle, then the money is gone. On the other hand, if a person is not enrolled, then payment will be in pending state till the person enrolls. During this time frame you can cancel the transaction.

How much can you withdraw from GO2Bank ATM?

July 29, 2022Answers to questionsSlava Money

One of the most important benefits of Go2Bank debit cards is the network of ATMs that allow customers to withdraw money without paying any fee. The network of ATMs is called Allpoint. It has more than 55,000 ATMs in the US. Although Go2Bank set the withdrawal limit to $500 per day, in practice you may face another limit. ATMs have their own limits and may allow you to withdraw less than $500.

How much can you withdraw at one of these ATMs?

You can withdraw cash from Go2Bank at 24-hour ATM — 24-hour ATM

My personal experience shows that with Go2Bank card you can withdraw up to $300 per day from one ATM. That is reasonable, because an ATM designed to serve as many customers as possible and if you withdraw all the cash at once, other customers may find that there is simply not enough cash.

On the other hand, you can visit another Allpoint ATM and withdraw $200 up to the limit.

Limit	Amount
Per day	$500
Per ATM	$300
Per month	$3,000

GO2Bank ATM withdrawal limit

Does Capital One have Zelle?

July 27, 2022Answers to questionsSlava Money

Capital One is one of the founding banks of Zelle. In 2017 Capital One, with other big banks like Chase, Wells Fargo, Bank Of America, decided to make a universal payment processing system that allows customers to send money to each other by email or phone number. The transfer is free of charge.

How to use Zelle with Capital One?

All you have to do to start using Zelle is enroll using your phone number or email. Then other users will be able to send money from their banks. You don’t have to tell which bank you have, the only needed information is your phone or email. Alternatively you can generate a QR-code that other people can scan and send you money.

How to set up Zelle with 360 checking account?

Zelle is best used on the Capital One mobile app. When you try to make Zelle transfer and you haven’t enrolled yet, Capital One asks you to set it up. The process is pretty simple and intuitive. You select the phone or email, send the security code and finish the setup.

How to send money with Zelle Capital1?

Sending money with Zelle is pretty easy. First add new recipient in Capital One mobile app. To do this open Capital One mobile app and tap on “Send money with Zelle”. There tap on “Manage Recipients” and tap “Add a new recipient”. Then you can just tap “Send” button and enter the amount you want to send.

How to accept Zelle payment?

If you are already enrolled in Zelle with Capital One, then there is no need to do anything. On the other hand, if you enrolled Zelle with another bank, money will go to the other bank. Third option, if you haven’t enrolled, you’ll receive notification and have to enroll.

What are Zelle limits, Capital One?

Capital One has certain limits on Zelle transfers. You can send up to $2,500 per day and there are no incoming limits. Other people’s banks have their own sending limits.

How to cancel Zelle Payment?

Limits of Zelle and Wells Fargo

July 26, 2022Answers to questionsSlava Money

Wells Fargo has limits on incoming and outgoing Zelle transfers. You cannot expect to be able to send $50,000 to a stranger. Initially outgoing daily limit is set to $500 but it can be increased. Incoming transfers have certain limits and Wells Fargo reserves the right to reject transfers that exceed the limit.

Wells Fargo and Zelle

In 2017 Wells Fargo announced that it integrated a peer-to-peer payments system called Zelle. In fact, Zelle is owned by Wells Fargo and few other big banks like Bank Of America, Chase, Capital One, PNC Bank, U.S. Bank.

Zelle works only in the US. It is a quick way to send money between banks that have integrated the payment system. The number of banks and credit unions that joined Zelle increased dramatically over the last few years and now exceeds 1,000 financial institutions.

Since Zelle is a person-to-persons payment system, there are certain limits on transactions. It is not intended to make down payments. At the same time, there were a number of scams that took a lot of money from users of Zelle. That is why there are certain limits on Zelle transfers.

How much money can I receive from Zelle to Wells Fargo?

While Wells Fargo has no limits on receiving money from Zelle, there is a limit on how much money can be transferred to your checking account. You can receive up to $10,000 to your Wells Fargo checking account per day. It means that in some cases Wells Fargo can reject receiving money and return them back. Although, it would be a very rare case.

How much money can I send with Zelle Wells Fargo?

The maximum amount you can vary from customer to customer and from recipient to recipient and it changes over time. If you are an established customer then you can potentially send up to $20,000 per month.

What is the daily limit for Zelle Wells Fargo?

Initially for new recipients the daily limit is $500 or less. This limit can be increased after you send subsequent payments. The maximum you can send is $3,500 per day.

How to increase Zelle’s limit at Wells Fargo?

If you want to send more than $500 to another person you need to raise the limit. After the first successful Zelle payment to a new recipient, Wells Fargo can adjust the limit. It is going to take time to raise the transfer limit.

Wells Fargo Zelle transfer limits are not set in stone. Higher limits may apply to private customers with high net worth.

How to cancel a Zelle payment Wells Fargo?

You may want to cancel Zelle payment if you change your mind. It is easy to send money, but hard to stop the payment. Your only chance is if the recipient hasn’t enrolled in Zelle yet. In this case payment can stay in pending state until the recipient enrolls or until you cancel the payment.