Time banking reddit. Please review subreddit rules before posting.

Time banking reddit. You'll learn a great deal about debits/credits, banking terminology and acronyms (banks LOVE acronyms), and find out the inter-workings for the banking world. I don’t have this problem with td at all. For consulting it’s recruited for top strategy and management consulting firms but it’s still possible to get into consulting if you have industry experience without the mba. If you're all good though, what's the move? Feels like tough 1st semester and chilling the rest of the way. Tough to jump right in without any retail banking experience. Based in a second world country. Hello Reddit, I'd prefer not to get too specific but investment banking has fascinated me for quite some time, and I was hoping to become and investment banker in NYC after my studies. It seems, mostly they are some sort of closed Communities. Talk with others about your experiences or ask questions. The only problem is I'm graduating in Spring 2024 (yes graduating right before starting my internship lol) and have absolutely no idea what I'm going to do Some things places to look into summer or in semester part time internships would be small private equity funds, search funds (private equity funds looking to buy and operate 1 business, and local boutique investment banks. It's been radio silence since last Saturday. So, I need answers to a few questions to clear my mind. However, to me it doesn’t sound realistic at all. This holds in a lot of sectors, such as construction, healthcare, transportation, et cetera. A Good Day Which bank has the highest time deposit interest % for at least 6 months duration that is also safe and secured. What's more infuriating is that among all the banks I've dealt with, Gotyme's customer service is hands down the worst. A place to discuss the in and outs of banking. Online Banking is not available to you at this time? Hello I made a Bank of America account earlier today. Hi everyone, I’ve been interning at a BB in Corporate Banking this summer and I thought I would provide some insight to my experience as many people here seem to wonder what CB is all about. Most of my portfolio of companies are Private Equity owned Manufacturing or Distribution companies. My initial preferences in full-time roles were commerical banking, corporate banking, and private banking (high pay, solid WLB). One hour of work equals one time credit, no matter what kind of skills you're exchanging. I was recently introduced to the concept of time banking where people provide service in exchange for time instead of $$. Spending all the day in the bank with ton of work load without proper leave. Customer support is absolutely just buying time - I chatted with them every week and it's all variations of 'its a technical glitch, we will solve it tomorrow, we will message you with and update in 5 days'. I've recently started an investment banking internship and I have to say, it's been grueling. Go with a good online bank/credit union for your primary checking and savings and then find a local credit union to use for a backup and for the rare times you may need to go in person. The cutoff time for wires is going to vary by banking institution and type of transfer, as well as which time zone you are located in. My best suggestion is to move to whatever bank your friends use that offers real time updates. Ngl I got really scared man. There can be lulls in the day but if you are any good you will have little free time. My school teaches modelling in 4th year which is too late Imo Lag in updating bank account or card balances are largely dependant on the bank's software. In terms of specifics of what to say, there's a million guides on the internet. Reply reply allknowerofknowing • Feel like the time to make a lot of money is right before the singularity takes off so you can buy up some land in case that gets scarce, but then again if you miss out on that you can have all the land you want in virtual reality or on the moon/mars eventually ha Reply reply boubou666 • Until today I went to one of the banks and casually asked the guard that for how many hours do the employees work and mfs Said they come here @9 and there's no specific time to go back. I always thought starting as a teller is As someone who is a teller at a top 3 Canadian bank, after the first 3 months it’s not very stressful. Odds of getting an investment banking analyst position post-grad People who had done a summer internship with an investment bank, consulting firm, or private equity ship but did NOT get a return offer, why not? What did you do? I understand that this is Reddit and not everyone knows everything. Although the time bank ultimately folded after three years when they ran out of funding (something the paper suggests was avoidable with proper planning and possibly community fundraising), a study of its impact in the neighbourhood found: "the time bank was effective at 'building community capacity' and 'promoting social inclusion' by boosting At the same time, this post could have just as easily been titled "Breaking into Investment Banking: 2 Week Study Plan for the Unprepared", since you also wrote: For investment banking it’s going to be required. Best entry-level corporate banking jobs to eventually break into IB? Have you seen transaction time stamps in any of your banking transaction activity or statements? If so, would you be willing to share a screenshot which shows just the date and time stamp on that transaction and redact any sensitive information? or at worst, let me know the name of the bank? With investment banking your definitely gonna be doing like 10 90. I have interviewed hundreds of aspiring investment bankers and management consultants during my decade tenure in industry, where I hosted networking calls and events, graded HireVues, and conducted first I worked as a teller part-time in college; used that experience to move over to the investments side of banking; then to running different departments with staff in different cities in investment banking and retail wealth management. I want to get into investment banking and aware that the technical skill required are excel, modelling , valuation and accounting knowledge. I am 27. If you use it, I would be very grateful to hear what you have to say about it. Now a majority of my "rating" is how much business I bring in. You'll love the hours 8-5 and the PTO that most banks offer because, well, they can afford it. When I talk about this with Finance-people, they say that they are okay with more than 40 hours. Middle Market up to $1B in Revenues. Instead, they trade time —one hour of work or service equals one time credit. First job out Being a teller gives you a great beginner experience to see a ton of what the banking world is like. For those that are in Investment banking, are you guys able to do exercise a couple times a week? A place to discuss the in and outs of banking. Learn how the branches work. After a few months, I took a full-time position and within 2yrs of my initial start date, I was a full-time Personal Banker with a Notary's license. Wise will charge a %, so it tends to be a better option for smaller transactions. S. Thanks in advance. You can always make more money but you can’t get your time back. Unpopular facts about investment banking & finance (career options, chances of breaking in, sectors) I've worked a little, I'm in my second job, my first time in a bank (department of analytics), and I don't know if they're useful for the business. Although its business school ranking is good in canada, the school doesn't really does a good job in finance. It does get better as you move up but very common for people to go months without a single day off. Community, regional investment, commercial or consumer, come on in. Do any banks or high yield savings accounts have real time transfers to or from Chase? I know that Chase is on the RTP and FedNow rails, but it still seems like transfers between Chase and other banks still take a couple of days. I also ran the lateral and mobility recruiting processes and was on the summer intern review panel for my industry group. I didn't recruit at all for investment banking internships during my sophomore year but have since decided that this was a mistake and I want to explore my options in terms of pivoting from consulting to investment banking for my full-time career. If you start out as an AB and really want to pursue a career in retail banking, I’d look to go straight to full time, licensed banker (RB). I am an ACCA. I earn about $75k incld super, in the call center at a bank working from home, 40 hours a week. A thousand finance classes couldn't have prepared me for this. This is my first time to ever give such competitive exams, and I'm completely clueless regarding it. I was reading the contract and documents given to me, it is tagged as moderately aggressive investment. You can grow and advance your career if you put in the It depends on one’s own individual circumstances, but my first boss told me to always bank the time. I worked for TD Bank for quite some time and the most nauseating thing for me was that they pretended to care soooo much about the clients although we had shitty atms, teller systems, online banking, and overdraft policies that should have been illegal. What free time i get i either play games (Elden Ring currently) or spend time with my cat and her kittens, or my little number of actual friends, that's it. Please review subreddit rules before posting. Trying to get a read on the market as it's hard to find salaries online for Australia. Most wires are sent via FedWire (through the Federal Reserve), and can only be sent when the fed window is open. Do they legally need to know where the money came from? I thought if it’s above 10k these questions are valid. 24 hour grace for overdrafts, and if you miss the grace period, you don’t get charged as long as it’s less than $50 in the negative. Right now, I'm aiming for RBI Assistant and Grade B. I figure it can add some bulletpoints to my resume but do I have a shot at recruiting for full-time jobs? This summer ill be doing strategy at northwestern mutual which isnt related so dont think my odds are super high. Often an analyst is waiting for comments on a deck or two from superiors. If for some reason fit wasn't good during the summer internship, I assume this time is spent re-recruiting for another bank. com Just wanted to share some info about Timebanking for those who don't know about it! Timebanking is a way of volunteering in the community where everyone's time is valued equally - instead of earning money, you earn time credits. Thanks po in advance. See full list on ssir. This article explores the origins, mechanics, economic implications, and social benefits of time banking, offering insight into how it challenges conventional economic principles while fostering community resilience. For examples are there other The bank internship will be valuable experience but I wouldn't take it as a full time role. any time I’ve needed them for anything other than online day to day banking it’s a hassle. Do all NYC firms have this perk? This née firm is pretty well known and similar to HSBC, Wells Fargo and Houlihan Lokey. After about a year of job hopping between various restaurants, I took a part-time job as a bank teller. Can you get a full time offer at an investment bank without doing an IB internship first? Hello everyone, I am a junior at somewhat of a target school (most of my friends have successfully found internships and/or FT offers for major investment banks), and I am trying to get into IB. Is it really that much? If it is, then you just work from the moment you wake up till you go to bed. Has anyone heard of bigger firms not offering the meal allowance? For networking calls: Just make a ton of calls and this shit will become second-hand knowledge to you. I've had places do this but usually if I was putting in 90+ hour weeks and banking the hours, there never would be a chance later on to actually take less than 40 and start to drain the bank. As I've seen on the net that RBI exams are scheduled currently a rising year3 NUS econs undergrad (international student) and im looking to get into banking for my yr3 summer internship and subsequently after grad as a full time role. A subreddit for discussions about Indian higher education, research, admissions process, career advice, resource sharing, and similar topics. Therefore, I suppose that those 100 hours Can you recruit for banking during the second year? I did not get an internship for the summer. I keep seeing Sofi pop up. For some background, at school I’m a rising senior majoring in Finance and Geography from a non-target but good business school with an up and coming finance program. You post the services you can provide and want to receive on a website. My days are stretching into nights, with my waking hours blurring Essentially you transfer money and it gets taken from your bank but no transfer is ever processed and it gets stuck 'sending' for months. During that time, I interviewed hundreds of summer analyst and summer associate applicants and scored dozens of HireVue recordings. Prior to this summer I interned in My company offers to bank overtime and have it paid as straight vacation time. However, I am really confused on how to start with it. The time bank movement helps us to shift away from economies based on consumption to economies based on relationships. Lately I have been researching a lot about investment banking. I highly doubt that it is physically possible to work 16,6 hours a day without interruption, coffee breaks, lunches, meditation etc. ? Timebanking is such a good idea, but only some small timebanks are there. Working late throughout those periods. Has anybody tried this kind of time deposit?. What Happened to Time Banks? Post-pandemic (or if you prefer since the start of this pandemic which in many ways isn't over), what has happened to Time Banks in the U. Hi, I am sophomore at UBC. There is a company named Promontory Financial Group (now owned by IBM) that will work with banks to share excess deposits among banks in a reciprocal relationship to insure up to $5 million. Sometimes it's 11pm , sometimes it's whole night . We would like to show you a description here but the site won’t allow us. I bought the book "Investment Banking: Valuation, LBOs, M&A, and IPOs" because of recommendations. I think this has been integral to its success given the reasons you allude to in your questions. Career progression is based on customer surveys and unit goals which are attained by Edit:spelling Edit: when I send money I normally check wise vs my local bank. If you do a bank wire that is usually a fixed price, so if you needed to send 10,000 usd as an example, I would send it via bank wire at a fixed price vs a % of the total amount being sent. Most of these bankers get a ton of these calls so unless you say something really stupid, they're not gonna hold it against you for being Especially if you're on the younger side and can use the experience to learn about other aspects of the bank like business/commercial banking, financial advising, or even mortgage lending. Free basic checking, free online banking, deposit cutoff for ATM and mobile is midnight. Although it is a decent amount of info needed to become proficient. Show initiative. How do people with kids and a wife manage their time? Share Add a Comment Sort by: Best Open comment sort options [deleted] • Comment deleted by user I had 2 relevant internships, one with a smaller regional bank last summer, and a corporate finance internship a couple years prior. I see many LinkedIn connections promoted to VP within just a few years of experience. There's really not that much more to it. I think given that the policy is not really fleshed out in Yang's website, this is a good opportunity to flesh it out a little now by answering your questions. In Brasil, we have a national system called PIX that is like venmo, but is not a separate app it’s in your normal bank account app. Huntington!! Former employee, work at another large-ish regional bank and still recommend Huntington over current bank. 4. But what are some ways I can be fully prepared for the technical questions and know everything that a college student can know about a career before actually doing it. I have always heard about 100hrs working hours for people who work in investment banking. That depends in the type of transaction, as people explained already, but in some countries there are already banking systems that support payment at any time. Started as a Credit Analyst for 2 years and then got promoted to be a Lender/Relationship Manager. After college, I had trouble finding full-time employment. My name is Anthony and I worked at GS IBD for five years. Many of these tend to be vary small and do not have a typical internship program. However, I have heard some terrible stories about IB that make me question if I should even consider becoming one. Employees must be paid one-and-a-half times their regular rate for any hours worked over 40 in a workweek. Hello folks, I am new to Reddit, I just signed up cause I really need your advice. Banking is a pretty broad field so this is aimed at anyone who works in banking no matter the area. How should i proceed regarding my future career? I see that job as a place for long time tellers with supportive branch managers to move up and make an extra couple bucks / hour. Work hard. For example, if you spend one hour helping someone fix their bike, you earn one time credit. Your banking institution may set a time a bit earlier than that daily cutoff time in order to have enough time to review and transmit any I am moving to New York city for an investment banking role. 11 Years in Corporate Banking at a Bank 100B+ in size. I am doing PT work this spring semester at a small boutique bank. May pros or may lamang pa rin ba ang pag save ng pera sa mga traditional bank over sa mga digital banks? I'm thinking kasi to move my funds from BDO to any of these digital banking na medyo mataas yung interest. This year I'm really taking my finances serious. Many who work there say that you have to work anywhere from 80-120 hours a week. I get dinged if I have a customer leave A friend of mine who used to work in IB (as a tech guy) is constantly dissuading me from pursuing banking by bringing up the long hours. Meanwhile all the bank veterans who are involved in recruiting will look at your experience leading of platoon a MRAP mechanics and wonder why your experience is more suited for IB than the MARSOC dude sitting next to you TLDR: garbage in, garbage out Reply reply Mikewazowski948 • Another meaning could be just to keep a log of the hours you put in and take off time later until your equal, but not use official vacation when you do so. Any pros and cons, are there any fees, minimums, time to transfer, etc. Happy New Year, and thanks to the folks at r/FinancialCareers for helping to set this up! I'm Anthony, a former investment banker at Goldman Sachs and management consultant at Oliver Wyman. The open-source code is available to individual time banks so they can easily build customized websites. I logged into the account for the first time and was able to see everything. I would say: PROS: Higher pay More opportunities for career growth Better benefits (maybe?) You don’t go home smelling like coffee shop everyday If you don’t have a uniform, more flexibility with what you can wear Sundays and holidays off (possibly Saturdays too) No late or excessively early hours CONS: Lots of rules More responsibilities that may or I'm preparing for the banking exams this year. Am i too late to get into investment banking in the US or other Financial Centers of the world? 115 votes, 143 comments. ECM and Really curious how the promotion/org structures look like in Investment/banking firms. Anyone have chill IB hours at MM banks? Could 9a-10/11pm Mon-Thursday, Friday 9a-7p and a few hours on the weekend be the… Also, typically time banking has been a local movement or a small group of volunteers. Are banking sectors that toxic ??? Anyone here I read a lot on here on how much people in tech and other industries make but not so much banking. a bad day in banking. Each person’s time is valued the same. im currently spending my y2 summer interning at HSBC SG within international retail banking and wealth management, specifically customer propositions for HNWI. A part of that is looking for a high yield savings account. Even if you take a 6 days working week, you have ≈16,6 hours of work per day. Now that i make Bank all those relatives who didn't give a fuck about me now suddenly do which is hilarious. Anyone can join the Timebank, and there are a number of Timebanks across the I got into banking from barista-ing. However, when I talk with non-Finance people, they say that 60 is Subreddit for RBC - Royal Bank of Canada. Magic points capture your time money in Fiivv. Seeing as it's purely online banking, I'm imagining I'd need to use ATMs for pulling cash from EverBank which may limit the total withdrawals I can make at a given time, unless they operate like a CU and work in a shared network with physical banks? I gave Gotyme bank a shot for the first time to receive funds from Wise, and to my dismay, days have passed, and the funds are nowhere to be seen. Stuff like account limits, disclosures, government regulations will come as the job progresses. My concern is i do not want to lose my capital investment. Accurate or way too simplified? Thanks to the folks at r/FinancialCareers for verifying and helping me set this up. I've heard of 85-105 hour weeks with people snorting cocaine in the bathrooms due to crippling Newbie question lang po. I recently visited security bank for a way to invest my money, they presented me with this kind of time deposit. This isn't just about the volume of work; it's about the intensity, the speed, and so on. Is there an advantage to this? A place to discuss the in and outs of banking. When you’re on 5-7 live engagements plus bd there simply isn’t enough time in the day to get adequate sleep. Do you know what are or could be TS applications that are useful in the industry or baking or wherever TS data is available or could be constructed? Completely depends on group, industry and bank. 9% net for 5m pesos and the maturity is every 3 months. Nov 23, 2011 · Time banking is also getting a boost from new software that will make it easier to log, track, and share hours (the software documents engagement, reliability, punctuality, and trustworthiness). org Oct 23, 2024 · What Is Timebanking? At its core, timebanking is a system in which individuals exchange services without using money. This is just based on my own personal experience and every day was pretty different so treat this as a bit of a general overview. Every time I have a deposit of of cash above 2000 I get bombarded with questions on where the money came from and what it’s for. But, you can have more than the FDIC limit at one bank and it will still be FDIC insured. Street of Walls is pretty good. Example: trying to get a bank draft takes 3 days and needs to be sent from Toronto even though there is a tangerine cafe in my city. Not most of the time but there is a significant amount of down time on an average day. Not 1:1. Apr 23, 2025 · One such model is time banking —a form of reciprocal service exchange where the unit of value is time rather than money. The role is very sales oriented tho. I'm currently in FP&A, and you don't get to be a VP in just a few short years I am early in my college career and I want to start to prepare for Investment Banking interviews. Another thing is, that I cannot exchange my timecredits to another timebank. Thought it may be of interest to some of you to provide an hour-by-hour breakdown of a good day vs. I have helped structure more than 350 million dollar deal for companies here while working for a boutique investment banking company . Get to senor in public and bounce to industry or similar or find a much better industry role to start out. A perk I really liked at my old job was the meal allowance if you stayed past a certain hour. However, this clearly does not hold in the Finance industry. Once you have time $ banked you can consume services. I signed up for both a checking and savings account, my application was approved and I was emailed a confirmation. I am currently preparing for bank po. I am thinking to join bank po for few years and then go for MBA from a top B school. That being said you can land these roles by cold emailing people at these firms and offer At least where I live, we are accustomed to the standard 40 hour work week. previously, i interned at a SG biotech startup I’m a former JP Morgan investment banking analyst (SF office, healthcare coverage, 2015-2018). I’ve seen folks work in line corporate finance, go to financial services industry consulting with no mba. I have a bachelors in finance degree. But the problem is, I'm completely clueless regarding how to approach the syllabus. Sa dami ng nagsulputan na digital bank ngayon na di hamak na mas malaki ang interest compare sa mga traditional bank. And she’s like next time I need a receipt where the money came from. 5 Under the provisions of the Fair Labor Standards Act, banking excess hours worked for non-exempt employees as comp time or paying them at the regular rate on future paychecks isn't allowed. For Filipinos interested in stocks, bonds, mutual funds, ETFs, forex, crypto, banking, business, insurance, and any other topic related to investing money, making money, or growing money in the Philippines. Reply reply WasDavid • I think it’s easy to stay in this job a long time, one of my coworkers has been a teller for 15 years, but it also will give you good things to have on your resume if you want to move on to something else or if you want to move up to being a banker, LAO (asst manager), manager, etc! So I'm going to be starting a Jp Morgan corporate and investment bank payments internship Summer of 2024 but I would only potentially be able to start full-time a whole year after (HR conflicts of unable to roll into FT after internship). redditmedia.