Savings Accounts

Banks Editorial Team

July 24th, 2019

What is a Money Market Account? 5 Benefits of Putting your Cash into One

What is a Money Market Account? What is a Money Market account? Many people live paycheck to paycheck. Any disruption in the wages they earn in the typical work week can adversely impact their household budget. A sign of financial stability occurs when you earn enough to save money for your own list of reasons. […]

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Banks Editorial Team

July 23rd, 2019

Banks.com Best Money Market Rates: July 2019

Best Money Market Rates We’ve identified 10 of the best money market rates available today, from both traditional banks and Fintech firms.  Your local bank or credit union probably offers a money market account as a higher-interest alternative to a traditional savings or checking account option. With the wide range of FDIC-insured money market accounts […]

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Banks Editorial Team

July 22nd, 2019

Can You Set up a Health Savings Account for your College Age Child?

As you investigate ways to save money on health care for your family, you’re likely to run across information on setting up health savings accounts. These tax-free savings plans work much like traditional savings accounts, but the funds can only be used for qualifying health care expenses. HSAs pair nicely with high-deductible health insurance plans, […]

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Banks Editorial Team

July 19th, 2019

How Savings Bonds are Different from Savings Accounts

Saving Bonds vs Savings Accounts Two very common ways to begin saving are with a savings account and savings bonds. While both are very low-risk ways to save money, they do have different characteristics and offer different potential returns that make each better suited to certain situations. When it comes to saving money, every little […]

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Banks Editorial Team

July 18th, 2019

Banks with Free Checking and Savings Accounts for Overdraft Protection

Banks with Free Checking and Savings Accounts for Overdraft Protection Did you know there are banks with free checking and savings accounts that let you use your savings account in the event of an overdraft on your checking? In July of 2010 federal laws changed the way that banks and credit unions are allowed to charge […]

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Banks Editorial Team

November 19th, 2018

What Savings Account Is Best For You?

Are you looking for what savings account is best for you? Is interest rate driving your choice of savings account? Are you thinking of saving for a short-term goal? Do you want to teach your child how to start saving? Depending on what you want, there are about three types of savings account which most […]

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Banks Editorial Team

November 19th, 2018

Are Money Market Accounts A Good Investment?

Many financial experts consider money market accounts a good investment. If you are looking to earn more interest than what your savings account provides, a money-market account may be right for you. Money market accounts are a good investment if you want a safe way to grow your money and can afford to maintain a […]

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Banks Editorial Team

November 16th, 2018

What Are The Different Types Of College Savings Accounts?

Three types of college savings accounts are the 529 Plans (Prepaid Tuition Plans & Education Savings Plans), Educational Savings Accounts (ESAs/Coverdell accounts), and Custodial accounts (UGMA/UTMA). 529 plans and Education Savings Accounts (sometimes referred to as ESAs or Coverdell accounts) are saving plans that American parents can use to help finance their children’s college education. […]

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Banks Editorial Team

November 15th, 2018

Money Market Accounts Pros and Cons

What are the various Money Market Accounts pros and cons? Money Market Accounts offer multiple benefits to its account holders ranging from higher interest rates to being backed by the Federal Deposit Insurance Company (FDIC) or the National Credit Union Administration (NCUA) as the case may be. While the combination of possibilities they offer seem […]

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Banks Editorial Team

November 14th, 2018

Are There Any Tax Free Savings Accounts?

Tax-free savings accounts (TFSAs) are the best way for individuals to save towards their financial goals. The capital gains and investment income earned from TFSAs are usually free from tax. As a result, it gets easier to save money for short-term and long-term goals. In addition, these accounts complement other saving plans such as Registered […]

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