Banks Editorial Team

August 16th, 2019

Money Market vs Savings Accounts: Are Your Funds FDIC Insured?

When deciding where to put yours savings, it is imperative you understand the difference between money market vs savings accounts. You may consider placing some of your available cash into a money market fund, but do you really understand what’s different between a money market vs savings account? The first thing you should understand is […]

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Banks Editorial Team

August 15th, 2019

How Banks Work With Credit Reporting Agencies

Understanding how banks work with credit reporting agencies is very important for your financial health. Your credit report has a lot to do with how you’ll be able to borrow money and what rates you’ll pay when you do. That’s because your history of borrowing – and paying back – money is one of the […]

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Banks Editorial Team

August 15th, 2019

How Money Market Rates Interact with the Federal Reserve

Money Market Rates and the Federal Reserve How money market rates interact with the federal reserve is an the intricate process. The Federal Reserve Rate, also commonly referred to as the Federal Fund Rate, is what one bank charges another bank when they lend money overnight from their reserve funds. Federal law says that banks […]

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Banks Editorial Team

August 14th, 2019

An Endorsement of the Underrated 15-Year Fixed Rate Mortgage

A fixed rate mortgage will be one of the endless supply of options you will be you will be presented with when buying a home. Well, maybe using the word endless was a bit hyperbolic, but you will have a lot of options. And doing the necessary research and performing your due diligence to better […]

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Banks Editorial Team

August 14th, 2019

Using A High Yield Savings Account to Explain Compound Interest

Traditional vs High Yield Savings Account When your children place their money into a high yield savings account, they may be surprised at how quickly their money will grow. While teaching your children about the value of saving money may be easy, teaching them about compound interest may not be as simple. This process can help […]

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Banks Editorial Team

August 13th, 2019

Can Credit-Builder Loans Improve Your Credit Score?

Credit-builder loans can help if you have poor credit or no credit history. With bad credit you may find it difficult to be approved for things like personal loans and credit cards. Lenders want to be sure that their customers will be able to repay their loans and bad credit will make them think twice […]

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Banks Editorial Team

August 13th, 2019

Guide to the 5 Best Online Savings Accounts – August 2019

5 Best Online Savings Accounts The best online savings accounts need to be effective at securing your money, but they can also bring other benefits to the table. When comparing potential online saving accounts, it helps to pay attention to that special something that each company has going for it. That way, you can ask […]

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Banks Editorial Team

August 12th, 2019

What Makes a Great High Interest Savings Account Apart from the Rate?

Do you know what’s Important about a high interest savings account apart from the interest rate? When reviewing the sea of options to open a high interest savings account many banks only advertise their rate of return. Which can lead many of us to believe that other than the interest rate, all savings accounts are […]

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Banks Editorial Team

August 9th, 2019

The 3 Best Savings Accounts with Great Rates and Benefits

One of the most basic ways to evaluate savings accounts from different banks is to simply compare the rate of return — i.e. how much will each institution pay you for the privilege of holding your money? However, getting the highest rate of return won’t be much of a benefit if the account comes with […]

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Banks Editorial Team

August 8th, 2019

Everything You Need to Know About The 3 Credit Agencies

About the Three Credit Agencies There are three major credit agencies in the credit reporting industry: Equifax, TransUnion and Experian. And many consumers are unaware of the far-reaching impact they can have on their life. Your credit score and credit history will impact your ability to secure a loan, get a credit card, and in […]

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