In choosing a Savings account, you need to understand the different types of it as they come in different forms with its own features.  The first type is the Basic Savings Account. This is usually the chief kind banks offer their customers. Clients can deposit cash in their account at a regular basis. Traditionally, banks require fixed amount to be deposited. However, these days, banks are lenient. They allow an amount within …

Opening a Savings Account is easy and one of the most crucial way of saving. The first step that you do is to select a bank. Its location is among the chief considerations that you should contemplate. A Savings Account needs to be maintained regularly, meaning you need to deposit an amount every month to avoid penalties so that the accessibility of the bank is very essential for convenience. If it is …

Definitely yes. It is to the customer’s advantage when he/she opens a savings account. There are several reasons for this. First, if you have such account, you learn to save. Saving cash no matter how little it is can change your attitude towards money. You learn to handle your daily expenses and monthly bills. You may find out later that you will not have a chance to live your life from paycheck …

A CD or Certificate of Deposit is a time deposit product which calls for a better interest rate. The term time deposit  is known as “Term Deposit” in Canada, Australia, and New Zealand,” Bond” in the United Kingdom and “ Fixed Deposit” in India and some parts of the globe. Further, A CD is a monetary product deposited by customers of the bank, credit cooperatives, and thrift institutions within a limited period …

The first thing that you should ask yourself is the safety of your money being deposited in the bank. It is known that CD or Certificate of Deposits is among the safest investment you can do with your money because they are insured with the FDIC or NCUA. Apart from that, once you established yourself to use the CD Ladder strategy, you can alternate your account’s maturity dates and still has a …

Between money market account and a savings account, the former yields a higher interest rate and return. Another perk is that interest is compounded every month. Compound interest works for money market account. Compound interest can be a complicated term in a mathematical way. The formula can be quite daunting to understand: P=C (1+r/n) nt where P=future value, C=initial deposit, r=interest rate, n=# of times per year interest is compounded, t= number …

Opening a money market account surely requires a number of requirements. The basic requirements are asked in the application form which can be sent by mail or through the Internet. basic information such as name and birthday work address valid identification home address phone number minimum opening deposit required social security number signed account application email address   Banks are also mandated by law to conduct a background check to costumers …

One of the ways to understand the basics of money market account is to understand the terms associated with it. The term “liquid” is used to define MMA. According to the Financial & Investment Dictionary, a liquid asset is “cash or easily convertible into cash” such as “cash, marketable securities and accounts receivable”. A very crude example of a liquid asset is the dollar bills a person has in his pocket.  MMA …

Writing a check for a particular amount which the account holder knows is not the amount or not sufficient to amount in the account is considered a violation of a criminal law under any jurisdiction. Nevertheless, it has been a practice for some financial institution to avoid putting the client in trial by overriding the insufficiency. In return, the bank charges a subsequent fee for this kind of circumstances. Bank has always …

A joint checking is another service offered by financial institutions such as banks and credit unions which is co-owned with another person. It can also be an alternative for partners principally by gay partners that can’t be married or be legally partnered under the state law on where they live. On these circumstances, both account holders in the joint checking account have the liberty of the account which include but not limited …