Savings account for easy access of funds
An account in which individuals put up a certain amount of money that can be earned with a small amount of interest is called as a savings account. Funds saved in this account are commonly accessible and involve no hassles whatsoever. There may be a number of banks that charge consumers’ money for withdrawing money before time, however, the overall method of accessing funds is effortless. All it takes to withdraw money from a savings account is direct access to the bank or an ATM. What’s more, there is no restriction on the time and place from where the money is bailed out.
Along with many banks, savings account can also be availed of from a number of credit unions, money market funds and other financial institutions. While being able to earn an interest on the amount deposited, users also have a safe place to save money. Among the many banks offering a Euro savings account, users can open an account with Anglo Irish Bank, HSBC, Alliance and Leicester, Investec, Bank of Scotland and Irish Permanent International. This type of a savings account suits the needs of EU nationals who could be staying and working in the UK. It should also help consumers who boast of properties or assets from Europe or even those needing to make payments in Euros. To stay away from monthly charges, users may need to maintain higher balances while the interest range could fall between 1.75% and 3.86%.
A health savings account on the other hand allows users to save their money, especially if you analyze your taxable income along with medical expenses incurred. Users will generally have to keep a track of the kind of healthcare expenses they can meet with this kind of a savings account. Using the funds of this account is acceptable for medicines prescribed by the doctor or insulin. However, the Patient Protection Act now stops users from paying for medicines obtained over the counter through a health savings account.
Quite different from an HAS, a medical savings account has been fashioned to allow consumers avail of retirement benefits. Maintaining such an account allows the payment of regular medical bills which could include very small amounts too. What’s more consumers can also take advantage of various tax incentives for the acquirement of high deductible health insurance. AT the same time, they can maintain their account so that their routine medical expenses are covered without any hassles.
