EverBank Review: Online Bank For High Yield Investment Accounts

EverBank has some great savings products. Check out their unique offerings in the savings account space.

If you’re on the lookout for innovative bank products (like I am) then you may want to turn your attention to EverBank. I’ve been keeping up with them because they are one of the few resources I’ve found that offered interesting financial products that I couldn’t find anywhere else. Plus, they handily address a lot of my personal investment requirements.

Here’s the quick scoop. While EverBank provides many financial services from mortgage banking to investing, they’re actually quite well known for their online banking and consumer products, from high yield checking and high interest savings accounts to money market accounts and CDs that are denominated in both U.S. and foreign currencies. Considered as one of the largest online banks in the U.S., EverBank has received the Forbes “Best of The Web” recognition from 2000 to 2005.

Here’s a quick summary of their product offerings, which are mostly safe savings accounts with a few intriguing exceptions:

For a no monthly fee high interest checking account, you can take a look at EverBank’s Yield Pledge Checking Account. This account was formerly known as the FreeNet Checking Account but has since been renamed. They do require an opening minimum balance of $1,500, but if you can afford it, you may want to check out this account for the following features:

Latest Promo: Receive $60 for opening a checking account. Offer expires November 30, 2011.The yield promises to be in the “top 5% of competitive accounts” across leading banks (as per their “yield pledge”. Currently you’ll make 8X more than the national average with this account.There’s no minimum balance required to receive interest.There are NO monthly charges and NO debit card fees.You will be reimbursed for all ATM fees, regardless of which ATM you decide to use.They are of course, covered by the FDIC.Online bill pay is free for accounts that contain at least $5K as an average daily balance. Also, online and mobile banking is free.They’ll pay you $50 if you decide to take your business elsewhere ($50 satisfaction guarantee!). Numerous awards including Money Magazine’s “Best of Breed” and Kiplinger’s “Best Checking Account”.Open an EverBank Yield Pledge Checking Account and receive $60.

The EverBank Yield Pledge CD is described as a high yielding certificate of deposit (relatively speaking) that is covered by EverBank’s “yield pledge”, which simply means that the bank ensures that their yields will always be at the top 5% of competitive accounts. Their rates range from 0.35% APY for a 3 month CD all the way to 1.90% APY for a 5 year CD. Accounts are FDIC insured. The only downside is that they require a minimum opening balance of $1,500. Some other great features? You can opt for automatic rollovers or ask to be notified by a bank representative when your CD is about to mature (notifications occur 20 days prior to maturity).

Here’s where to sign up for an EverBank Yield Pledge CD.

Another FDIC insured product, the EverBank Yield Pledge Money Market Account has a .76% APY. Again, they require an opening balance of at least $1,500. Also, it’s only free if you maintain at least $5,000 in your account, otherwise it’ll cost you $8.95 a month to keep your money here. Given the relatively lower savings rates at this time, you may get more mileage from the Yield Pledge Checking account, which has some pretty attractive features that are focused on lowering costs instead.

Here’s where to find out more about the EverBank Yield Pledge Money Market Account.
Note: Following are EverBank’s unique foreign CDs. However, note that they are not available at this time and are only offered on occasion.

Okay now we come to the fun part! This is what I particularly appreciate about EverBank — they have a series of “WorldCurrency” products which I look upon as great diversifiers for any investment portfolio. Here’s what I mean: for foreign exposure, most of us own foreign equity mutual funds. But if you’re nervous about the volatility that stocks and currency exchange rates bring, then here’s the perfect product for you: the EverBank MarketSafe CD. What’s interesting is that this offering only comes around once in a while based on current market conditions, so you’ll need to apply for an account prior to a particular deadline (the last application deadline was on October 8, 2009) in order to participate in it.

The MarketSafe BRIC CD has a term of 3 years and gives you exposure to the 4 BRIC currencies: the Brazilian real, Russian ruble, Indian rupee and Chinese renminbi. Basically, you’ll make money if the BRIC currencies gain against the dollar upon the CD’s maturity at the end of its 3 year term. If your investment does not increase or goes down in value, you won’t be losing any money. In this case, you’ll get 100% of your principal back after the 3 years is up. So there’s no downside (except the potential loss of interest over 3 years)! It requires a reasonable $1,500 minimum deposit.

It’s something I’m seriously contemplating on as a great way to diversify my international holdings. You’ll need to check up on it now if you want to be part of their next offering.

If you’re unable to invest in the BRIC CD (because it’s unavailable), then there are still other ways to invest globally with EverBank. They have a ton of other foreign currency based CDs but these carry with them the currency risk inherent in international investments. So it’s safe to say that they’re only FDIC insured for bank insolvency, not for fluctuations in the value of your investment. If you’re interested in exploring diversification through foreign currencies, then you can check out the following products:

For more on foreign currency investments and research, check out this link!

All these products are available through both regular and IRA accounts. There are a whole slew of investment and savings options that are available with EverBank, many of which are not readily available through other banks. If you are looking for no-risk accounts, you can check out their Yield Pledge products. On the other hand, if you’re more interested in diversified foreign CDs or precious metals investments (which aren’t considered staples in most banks), then do take a look at EverBank’s commodity baskets (e.g. WorldCurrency CD baskets and Metals Select Gold and Silver accounts). You can also open an EverTrade brokerage account to trade traditional equity and bond securities.

Open an IRA account with EverBank here.
Created September 3, 2009. Updated October 27, 2011. Copyright © 2011 The Digerati Life. All Rights Reserved.

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Chase Bank $125 New Checking Bonus In-Branch or Online

Chase Bank is offering a $125 bonus for new customers if you open a new Total Checking account with $100 and set up direct deposit within 60 days of account opening. They state that the direct deposit must be “an electronic deposit from your employer or the government of your paycheck, pension or government benefits (such as Social Security)”, but I’m not sure if they manually check. You must keep the account open for 6 months. To avoid a monthly fee, you must do one of the following each statement period:

have at least one direct deposit of $500 or more post to your account (two or more direct deposits that add up to $500 or more do not qualify), orkeep a minimum daily balance of $1,500 or more in your checking account, orkeep an average balance of $5,000 or more in qualifying accounts with Chase.

Otherwise, a $12 monthly Service Fee will apply ($10 monthly Service Fee in CA, OR and WA). Per the fine print, if are not a current customer and you’ve closed an account more than 90 days ago, you count as a “new” customer again. However, you can only receive one checking account-related bonus per calendar year. Thanks to reader Andy for the tip. Offer expires 10/7/11.

Find more in Banking, Deals & Offers | 10/4/11, 4:57am | Trackback

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Michael Lewis’s New Book – Boomerang: Travels in the New Third World – Free Copy Online

I’ve enjoyed every Michael Lewis book that I’ve read, from Liar’s Poker to Moneyball to The Blind Side. Reading his writing is as easy as listening to a great storyteller, making the most mundane subjects interesting. I’ve been hearing about his new book Boomerang: Travels in the New Third World, and was surprised learn from Felix Salmon of Reuters that the book is simply a collection of previously written articles from Vanity Fair magazine. Articles that are still available, for free, online!

I looked inside a copy of the book, and it’s true. Amazon reviews confirm it. The articles are the same, word for word. You can even read the only “new” thing, the Preface, online for free at Amazon since it’s the “free first chapter”. I don’t feel bad sharing this, since Vanity Fair paid Lewis good money to write these articles, put them up publicly with ads, and no doubt enjoy the traffic. So if you want to read Boomerang electronically, the Table of Contents of the book is below. I used Instapaper on my iPod Touch and read parts of them while waiting at the doctor’s office.

Preface: The Biggest Short – Amazon book page (“Read first chapter FREE”)

I. Wall Street on the Tundra – Iceland (Partial only*)

II. And They Invented Math – Greece

III. Ireland’s Original Sin – Ireland

IV. The Secret Lives of Germans – Germany

V. Too Fat To Fly – California

Warning: Reading this book will make you some combination of scared, angry, and depressed. I’ve only read the Preface, Greece, and California chapters, and I’m already seriously thinking of buying some gold and guns to join my food hoard. I remind myself that Lewis is a gifted storyteller, but some people still disagree with they see as oversimplification and broad stereotyping of cultures. But just going by the hard numbers given, I’m still worried.

* Update: The Iceland article has been changed to only a partial stub at VanityFair.com, pushing you to buy the book “The Hangover” to read the rest. Interesting, the same article recycled in two separate books. The rest of the articles are still up, but I’d print to PDF or similar in case they change them as well. The Iceland article was free to read for years before this book came out, so it’s still out there if you look hard enough.

Find more in Book Reviews, Deals & Offers | 10/12/11, 5:00am | Trackback

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The Pros and Cons of Banking Online

It seems like everyone is banking online nowadays, right? In fact, I’ve had the same online savings account for the past eight years. Just recently though, I was offered an online checking account as well, so I thought that now might be a good opportunity to investigate the possibility of taking more of my banking to the web.

There are quite a good number of online bank accounts and savings options out there. You could check out our list of high interest savings accounts or visit Bankrate.com to see what it is that the banks are currently offering. In addition to the interest rate and APY, you want to keep an eye on the minimum amount you need to open an online account and, of course, any fees involved. There are plenty of online bank accounts to keep your money safe. Here’s a quick list of top savings and checking accounts:

Now that you’ve checked out a few good banks, let’s review the benefits and downsides of online banking.

1. When you bank online, you can bank anywhere.
The first thing that attracted me to an online bank is the ability to access my account from any web browser. Whether I’m working at the office, on the road with my Netbook, or typing away at my desktop, I can easily open my favorite web browser and log into my online bank accounts at any time. Every browser I have tried — Internet Explorer, Firefox, Safari and Opera — has worked for me towards this end.

2. Online banking is always open.
My local credit union closes at 3:00 p.m. With an online bank account, you never have to worry about the hours of operation because the Internet is always accessible. If you need to look up something in your account, you can do it any time — even when you’re stuck in the house, car, or office.

3. Bank transfers are straightforward.
If I want to transfer money between my online savings account and the local bank, it’s as easy as pushing a few buttons to start the process. Since it may take several days for the money to move from one account to the other, it’s best to plan ahead for transfers.

I resumed my automatic savings plan several months ago. It has been substantially easier to make sure my money gets into my savings account. Each month, my online account debits my linked local checking account to build my savings. If I need to stop the transfer, I can swing by the website to cancel it immediately.

4. It’s pretty secure.
My account is backed by the FDIC, in the same way that my accounts are insured at the local bank. As long as I use strong passwords and don’t leave access to my account vulnerable, I should be safeguarded against theft. I also found out the hard way that my online bank will log me out if I neglect its window for too long. The banks’ websites should have their security policies posted for review.

5. Statements can be paperless and simple.
Rather than clutter up my office with paper statements, I can view my statements online. In the event that I want to print a copy, my statement can be downloaded as a PDF. Simple.

6. Receive higher interest rates.
A popular bank in my area offers a personal savings account with an interest rate of .25%. By contrast, HSBC Advance Online Savings offers a 1.10% APY on an online savings account with only a $1 minimum to open. So, as you can see, many higher yielding savings accounts are online in nature.

7. Minimize your banking fees.
Many online accounts have low or no fees. It doesn’t cost me a dime to maintain my savings account. By contrast, one of my local accounts penalizes me if I make too many in-person withdrawals in a month. I don’t have to worry about minimum balances with my online account, either. Don’t forget: BEFORE you sign up for such an account, make sure you know the minimums and fees that they require, if any.

8. Get access to other bank products.
Chances are, if you have one online bank account, you’ll gain access to deals on other bank products. For example, an online bank like ING Direct might offer checking accounts, mortgages, and even investment products or business accounts.

9. Use popular money management tools with your accounts.
Over the last few months, I’ve tried Quicken Online, Mint, and some other personal finance tools. You may find that many local, smaller banks aren’t linked to some of these services, but online banks tend to be better integrated with these tools. In effect, banking online can make bill-paying easier.

Note: Some of these positive features are also applicable to traditional brick-and-mortar accounts.

Despite my enthusiasm for my online accounts, there are still some folks who prefer to keep some things local for a variety of reasons:

No ATM card for savings alone. If I want an ATM card, I normally have to open an online checking account and then link it to my online savings account.Transfers to the linked local account may take longer. If I need to move money from my online savings account to my linked local account, I may have to wait as long as a couple of days. But a transfer from my local checking account to the local savings account typically happens on the same day.You can’t afford to be careless. Having your browser remember all your passwords certainly seems convenient, but a visitor who plops into your office chair might be able to snoop around. This can easily be avoided though if you memorize the password and clear out the cookies on your browser before you step away from the computer.The tellers give out candy and smiles. Yes, they put the “personal” into personal banking. Online banking customer satisfaction matters tremendously when choosing an online bank, because sometimes, it’s just nice to talk to a live body!

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Best Money Tips: Beware These Online Degree Scams

Welcome to Wise Bread's Best Money Tips roundup! Today, we share online degree scams to avoid, unusual ways to use nail polish, strategies for secondhand shopping, and an ingenious way to color your drinks.

Online Degree Scams to Avoid — Watch out for unaccredited programs! You may get the education, but your degree won't be recognized. Money Smart Life

Unusual Uses For Nail Polish — A coat of clear nail polish will smooth out rough and splintered wooden hangers. DIY Life

Smart Strategies for Secondhand Shopping — If you can't find the price on an item, simply find a manager ask to have it priced, then and there. Feel free to barter if you don't like the number you hear. The Sun's Financial Diary

More Fun with Ice: The Time Bomb — Out of ideas for a fun party cocktail? Learn how to change the coloring of a drink by freezing food coloring in an ice cube. Alcademics via MAKE

Edible Art – Fun for Young Ones — Finger painting with pudding is a great way to entertain young children. It's fun and tasty! Wholesome Mommy

How to Find Cars Under $1000 — They are out there, if you know where to look. A few places to try are Craigslist, the classifieds, your local bank…even Facebook! PT Money

10 Things Outlet Malls Won't Tell You — I love shopping at outlet malls, but I can see why shoppers (myself included) should watch out for these pitfalls. Smart Money via The Consumerist

Repair, Reseal, or Replace? — Drafty windows and doors can cost you big time, so find out when you should repair, reseal, or replace them. The Wisdom Journal

Reducing Your Taxes: 5 Year-End Tips, One Month Early — Scheduling charitable donations for the end of the year means you get the tax deduction almost immediately. Bargaineering via Currency

Make More Money: Sell Your Crafts Online — There are many options for selling your crafty creations online. Etsy is a big one, of course, but you may want to check out Jewelry Wonder (not just for jewelry) and ArtFire, too! Ultimate Money Blog

We were featured in the latest business carnival at BC Submitter. Thanks for including us with such a fabulous group of bloggers!

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Car Buying Websites For Online Car Shopping

Well it’s finally that time. We’re at the point where we’re thinking about selling our car and we’re feeling like we’re ready to replace our trusty Honda Odyssey, which is getting a little long in the tooth. We can tell that it’s the right time, because we’re finding that the visits to the mechanic and dealer are happening a little too frequently for our comfort. It’s got almost 150,000 miles in it and so it should still have some good resale value. It’s been a great van to us and we bought it right around the time my first child was born. Eight years later, it’s time for a newer model, and we’re in the market for a new family vehicle.

And you know what that means. We’re checking out some car buying websites and going online for some virtual car shopping (here’s how to buy a car online). So should we buy a new or used car? I’m going to check out a few select sites to give us some ideas for our next purchase. I’m hoping to find something that won’t give me too much sticker shock. Allow me to share some of the research I’m doing at the moment. Here’s where I’m starting my search:

Automotive.com has a variety of resources to help drivers, including buyer’s guides for new cars, used cars, auto insurance quotes, auto loan quotes, and more. For instance, you can seek out your next used car by make, year, class, price, or mpg, or search classifieds.

There are also sections for those interested in forthcoming models and concept cars; I liked the enthusiasm of the Future Honda section. The site has a lot of content: Auto Enthusiast Central offers the scoop on auto shows, racing, and news. A month ago, I accompanied a relative to get a close look at some Yamaha motorcycles at a dealership, so I can see how the Yamaha articles here can provide a good supplement to the next trip we take.

Several useful items are available in the Car Research Tools section, including a loan payment calculator, a tool to help you figure out your car’s trade-in value, and a way to help you determine which locations offer the cheapest gas prices. There are even widgets you can install on your desktop or web page to monitor gas prices, admire the latest photos from Motor Trend, and more.

In addition, the site features a community forum and blogs. In the forum, you can read posted questions about car maintenance, discuss your favorite vehicle, or read user reviews. I even came across a section for GPS and navigation units, which is perfect for me, since I’m so “navigationally challenged”.

If you want a one-stop solution to finding a used vehicle and securing financing for it, DriveTime might be able to help you out. DriveTime describes itself as “a used car dealership for those with bad credit.” So this may be the right place to go if you want BOTH auto loan financing as well as a car to call your own. Once you’re approved for a loan via the online application process, you can select the vehicle that interests you. This site features 79 dealerships across the nation in cities like Los Angeles, Dallas, and Atlanta.

To find the vehicle you want, you can search by make and model, or you can select the type, year, and color you’d like. I looked for a particular van with a given color but they were out of stock. But modifying my search to another color yielded 32 different vehicles categorized by year, make/model, color, and dealership location. This would be particularly useful if we decide that we’re open to any kind of make or model.

Also, you can sign up to receive a free vehicle history report for the type of car you like. You’ll just need to provide your contact information to get going.

You don’t have to be afraid of lemons, because DriveTime puts its vehicles through a 53-point inspection and provides a limited warranty.

Like Automotive.com, Edmunds.com offers drivers dozens of ways to find their next vehicle, to talk about their current drive, or to stay current on related topics. I like Edmunds, as I find a lot of great information on their site on new cars, used cars, and certified pre-owned vehicles.

If you’ve ever wondered about the true cost to own your vehicle, this site can help you discover the answer. Just purely as an example, I checked up on the 2008 Hyundai Sonata and learned that factors such as depreciation, taxes and fees, fuel, maintenance, repairs, financing, and insurance can impact the true price to own a vehicle. In other words, I’m not just making a simple car payment.

In addition, you can seek out tips and advice and read reviews. You can also find out more about car loans and insurance or peruse the forums. The Answers section lets you ask brief questions or view answers to other posted questions, sort of like an automotive Twitter.

When you want to find out about local services, you can find car dealers or auto repair shops by entering your city and state or ZIP code. The Google map that pops up will show you exactly where to go. Some of the listings even have user reviews attached.

If you live in a part of the country that tends to get an annoying amount of vehicle-denting hail and turbulent weather, you may want to check out a used car’s history before you buy it. AutoCheck is an Experian company that lets you input a Vehicle Identification Number (VIN) to get the reports you need.
A report can yield useful information such as past problems a used car has had, including damage from weather-related events like flooding or hail. If the odometer’s been rolled back, the report might be able to warn you of problems before you buy the vehicle.

Also, you can see if the vehicle’s been in service for police or taxi use, if it’s been in an accident, or if it’s ever been stolen or used as a fleet vehicle. If you’re ever pulled over by a cop, you don’t want them to be finding out things about your car that you don’t already know about. You can be spared any kind of hassle due to a questionable car history if you decide to use AutoCheck before purchasing a used car.

For $24.99, you can get unlimited reports for 60 days. A single vehicle history report is $14.99, while TitleGuard plus unlimited reports for 60 days cost $49.99.

While there’s some outlay required to use AutoCheck, it may be worth the peace of mind you’ll get from knowing that you’re buying a used vehicle with a clean record. Here’s where to get more information on AutoCheck.

I’m crossing my fingers that I’ll come across a car that’s fairly affordable and that’s good value. Of course, this is what most car shoppers are looking for anyway. My spouse wants to try leasing, but I’ve explained to him it’s not the cheapest way to go. As Suze Orman has said — go for the “new used”: these are autos and vehicles that are lightly used but whose prices have already taken a bit of a hit (thanks to depreciation). Hopefully, we’ll find something that catches our eye soon.

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5 Places to Save on Halloween Costumes Online

Halloween is one of those times that brings out the foolish spender inside so many of us. We can plan ahead and spend too much by picking the hottest costumes of the year from catalogs, or we can wait til the last minute and spend too much at those outrageously overpriced Halloween superstores. Instead, why not just take the easy route to really cute costumes by shopping for costume bargains online?

One note: All these ideas are a lot easier if you don't set your heart on a specific costume before you start shopping. For kids, if you do a little pre-shopping before having that "what do you want to be" discussion with the kids, you can guide them toward a costume that you already know is a good value on one of these sites. Nefarious parent! (Hey, maybe that's what I'll dress up as. No costume required.)

thredUP, the kids' clothing swap site, is doing special Halloween swaps. For $5 plus the cost of shipping, you can choose a box with a gently used costume. In return, you agree to list a box of clothes for swap and mail it (postage free) when selected by another user. Listed on the site right now are a cow, a lion, a unicorn, and other costumes. (Not only will this save you money, it's also an environmentally-friendly way to get rid of last year's costumes.)
For your high-end costumes, Zulily has multiple Halloween events running through Sept. 30: Le Top costumes and adorable outfits, Rubie's costumes, WishingWear costumes.
Freecycle! Again with the Earth-friendly! If you watch Freecycle listings for the next few weeks you will doubtless see costumes listed, or you can just ask your local Freecycle group for the exact costume you want.
Ebay's Halloween store is currently offering free shipping on "everything Halloween." Not only can you get great deals on used costumes, but it's also a good place to locate new items that finish off the DIY costume, like a pair of ruby slippers for Dorothy.
OldNavy.com. How could you not love this little bumblebee for only $15? Shipping is a flat $7, and if you spend $75 or more, you'll get 20% off your purchase, through 9/30. Maybe you can lump in some clearance-priced back-to-school clothes to get your total up to $75 — if you need them, of course.

Disclosure: This post contains affiliate links.

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4 Signs Your Kids Might Be In Danger Online

The internet can be an amazing opportunity for children and young adults to explore, connect, and learn. It can also harbor a world of stranger danger, viruses, and information that is inappropriate for little eyes. Check out this preview of 2 of the 4 red flags for internet safety from our recent My Life Scoop article, and how you can protect against them.

Warning Sign #1: Your child is old enough to know how to restart (or even hack) a computer.

If you kids has reached an age of computer savvy that’s on par with an adult (for many this is as early as seven years old), beware of attempts to work around your existing security software. For many kids, it may be as simple as pressing the power button and logging in as a guest. For others, it may take a more sophisticated method of using a bootable "Live CD" with Linux or even Windows operating system: Insert the CD, press the reset button, and they're online with no security. Because the PC's normal operating system is not active, this method (which exploits "console vulnerability") leaves no trace on the PC.

The Fix: You can prevent future “hacks” in two steps, according to David Witkowski of OKU Solutions, a Silicon Valley consulting group. "You need to implement domain-name service (DNS) blocking in the network router, which keeps sites from ever reaching your PC." Do this by visiting www.OpenDNS.org and signing up for a free FamilyShield account. OpenDNS will then allow you to select what types of sites you want to block, and will provide instructions for modifying your network router's settings. (You can also shop for a router that offers built-in DNS blocking). You must also prevent the block from being removed through a "factory default reset" (pressing that little red button on the router, itself). This can only be done by physically securing the network router in a locked cabinet or room.

Warning Sign #2: Your child is younger than 13, and has friends that are using networks like Facebook and MySpace (or has an account themselves).

It’s becoming fairly common to hear of kids with their own social networking accounts, but that are too young to use them legally under the terms of the COPPA (Children’s Online Privacy Protection Act). In response, many children (often with their parent’s permission) are getting accounts by fibbing on their birth date during the registration process.

The Fix: Read and understand the terms of COPPA, as well as for each site frequented, and explain them to your child. If a site requires that you child be of age to obtain a membership, carefully weigh whether they need one before the legal age and understand there may be consequences. (Facebook, for example, specifically prohibits anyone under the age of 13 from accessing the site, and provides a report link to notify them of such activity.) Let your child know that their private info should never be displayed online. 

Do you have concerns about your child’s online safety? Learn about the other two warning signs in our original article!

View the original article here

4 Signs Your Kids Might Be In Danger Online

The internet can be an amazing opportunity for children and young adults to explore, connect, and learn. It can also harbor a world of stranger danger, viruses, and information that is inappropriate for little eyes. Check out this preview of 2 of the 4 red flags for internet safety from our recent My Life Scoop article, and how you can protect against them.

Warning Sign #1: Your child is old enough to know how to restart (or even hack) a computer.

If you kids has reached an age of computer savvy that’s on par with an adult (for many this is as early as seven years old), beware of attempts to work around your existing security software. For many kids, it may be as simple as pressing the power button and logging in as a guest. For others, it may take a more sophisticated method of using a bootable "Live CD" with Linux or even Windows operating system: Insert the CD, press the reset button, and they're online with no security. Because the PC's normal operating system is not active, this method (which exploits "console vulnerability") leaves no trace on the PC.

The Fix: You can prevent future “hacks” in two steps, according to David Witkowski of OKU Solutions, a Silicon Valley consulting group. "You need to implement domain-name service (DNS) blocking in the network router, which keeps sites from ever reaching your PC." Do this by visiting www.OpenDNS.org and signing up for a free FamilyShield account. OpenDNS will then allow you to select what types of sites you want to block, and will provide instructions for modifying your network router's settings. (You can also shop for a router that offers built-in DNS blocking). You must also prevent the block from being removed through a "factory default reset" (pressing that little red button on the router, itself). This can only be done by physically securing the network router in a locked cabinet or room.

Warning Sign #2: Your child is younger than 13, and has friends that are using networks like Facebook and MySpace (or has an account themselves).

It’s becoming fairly common to hear of kids with their own social networking accounts, but that are too young to use them legally under the terms of the COPPA (Children’s Online Privacy Protection Act). In response, many children (often with their parent’s permission) are getting accounts by fibbing on their birth date during the registration process.

The Fix: Read and understand the terms of COPPA, as well as for each site frequented, and explain them to your child. If a site requires that you child be of age to obtain a membership, carefully weigh whether they need one before the legal age and understand there may be consequences. (Facebook, for example, specifically prohibits anyone under the age of 13 from accessing the site, and provides a report link to notify them of such activity.) Let your child know that their private info should never be displayed online. 

Do you have concerns about your child’s online safety? Learn about the other two warning signs in our original article!

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