Savings Archives

When someone writes you a check, even before you deposit it into your bank account the check is as good as cash. That’s because you know that you have access to the money even if you are not holding it in actual currency. If you wanted, you could sign the check over to someone else as a payment, just like paying with cash. Gift certificates and gift cards operate in the same way. All of these instruments are cash equivalents. Read more»

Savings accounts are designed to help you earn a little interest on your nest egg at virtually no risk to you. Banks, credit unions and online financial services like ING Direct (Stock Quote: ING) offer free and low-cost savings accounts for a variety of deposit amounts. Some have minimum balances that must be met, while others allow you to save what you can at no cost. Read more»

Most people are happy when laptops and cell phones get cheaper by the year. But deflation, a persistent decline in prices and wages across the board, is another matter; something consumers, homeowners and investors should know how to weather. Read more»

It used to be that banks would throw in a new toaster when a customer opened a new account. But that was your grandfather’s bank account. Today, banks are getting much more creative with toys for new customers. Here’s a look at some of the more interesting “giveaways”. Read more»

There is no shortage of good rate deals out there and with BankingMyWay on the case, here are some of the best.Money Market RatesWith the BankingMyWay weekly money market tracker showing rates stuck at 0.50%, a money market deal with an APY of 1.70% is nothing to sneeze at. Read more»

Times are tough for bank savings account customers.Rates are currently at 0.24%, a long-time low for the average U.S. banks savings account, according to BankingMyWay.com. Read more»

With so many Americans feeling the pressures of the recession, many are finding themselves living paycheck to paycheck. Many are even finding that their paycheck isn’t enough to cover their monthly expenses. Some of those who need a little extra money to hold them over until they get their next check are turning to payday lending. Read more»

The security of your personal information should be a top priority when you conduct banking business online. You should always exercise caution when making purchases, filling out applications and paying bills. After you log in to your banking site, make sure to do a quick visual check of the web page for security indicators. Here are some ways you can easily identify if your banking site is not secure: Read more»

If your bank is one of the reported nine that failed the Federal Reserve’s stress test, the domino effect could be rough. Of course though, “rough” doesn’t equate to “panic” and that’s the good news, considering how ill many U.S. banks were late last year. Read more»