Savings Account FAQs & Basics

Should You Create a Pet Emergency Fund? Review your finances to see if an emergency fund for your pet makes sense. Find out how much should be in this pet emergency fund and where to keep it. Can You Use a Money Market Account for an Emergency Fund? Photo of Thomas (TJ) Porter Thomas (TJ) Porter Can You Use a Money Market Account for an Emergency Fund? When you are setting up a financial plan for yourself, one of your first priorities...

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The Best Savings Options to Beat Inflation Learn about the different ways that you can make your savings and investments earn high enough returns to beat rising inflation rates. How to Prepare Financially for Losing Your Job Find out how you should do, financially, when you are expecting to lose your job -- whether you're getting fired or laid off. 6 Ways You Can Set Up Savings for Your Grandchildren Photo of Lance Cothern Lance Cothern 6 Ways You Can Set Up Savings for Your Grandchildren Most grandparents love helping out their grandchildren when they can. Some... How to Choose the Right Savings Account as a College Student Photo of Thomas (TJ) Porter Thomas (TJ) Porter How to Choose the Right Savings Account as a College Student Savings accounts are an important part of anyone’s financial life. They give you a... How to Choose the Best Online Savings Account for You Learn how to choose among many online savings accounts available nationwide -- consider factors such as interest rates, monthly fees, mobile banking, and more. Savings Accounts vs. Bond Funds & ETFs: Which Offers Higher Returns? Compare savings accounts and bond mutual funds and ETFs (exchange-traded funds) to see which investment will yield higher returns on your money. 6 Savings Account Fees You Need to Know About Photo of Thomas (TJ) Porter Thomas (TJ) Porter 6 Savings Account Fees You Need to Know About Savings accounts are designed to help you save money and earn some interest while... Why Were You Denied a Savings Account? Photo of Valerie Ashton Valerie Ashton Why Were You Denied a Savings Account? It's fairly common for banks to deny you from certain services they offer, like... Compounding Interest Daily vs. Monthly: What’s Better for Your Savings? Learn the differences between daily and monthly compounding interest to determine if it actually matters to you and your savings. Find out how the two terms are related to APR and APY. Understand how the rate of compounding is used to calculate the effective return of your deposits in savings accounts and CDs. The Differences Between Money Market Accounts and Money Market Funds Learn the differences between money market accounts (MMAs) and money market funds (MMFs), two similar-sounding financial vehicles that are often confused with each other. Find out how each of them work and their roles in your finances. Then, you are better informed with what you should do when you come across either of them. Calculate How Much Should You Have in an Emergency Fund Photo of Krista Baum Krista Baum Calculate How Much Should You Have in an Emergency Fund Dealing with an emergency, such as losing your job or unexpected car repair, is... What is the Average Interest Rate on Savings Accounts? Photo of Valencia Patrice Higuera Valencia Patrice Higuera What is the Average Interest Rate on Savings Accounts? There are many ways to save and invest your money. If you’re looking for a solution... Savings Account vs. Money Market Account: Which Is Better? Learn the differences between a savings account and a money market account (MMA). Find out which one you should choose to grow your savings depending on fees, features, minimum opening deposits, check-writing capabilities, and debit card access. Do You Have to Keep a Minimum Balance at a Credit Union? Find out whether or not you need to maintain a minimum balance at a credit union because it related to how they work differently from banks. Learn why it matters in order to keep a credit union membership and what happens when you are still a member but have an account become inactive or dormant. How to Open a Savings Account with Bad Credit Photo of Thomas (TJ) Porter Thomas (TJ) Porter How to Open a Savings Account with Bad Credit Your credit score is an integral part of your financial life. It is a record of... Do Savings Accounts Have Routing Numbers? Photo of Thomas (TJ) Porter Thomas (TJ) Porter Do Savings Accounts Have Routing Numbers? We, as average consumers, come across routing numbers most often with our... Can You Get a Debit Card on a Savings Account? Find out whether you can get a debit card in order to access your savings account. It's a good question for people who want to deposit and withdrawals cash from their main savings, or maybe they want to use a debit card to make purchases. Learn how it differs from ATM cards. What Banks Do With the Money in Your Savings Account Learn what banks do with the money in your savings accounts as it all has to do with how banks make money to stay in the business of deposits and loans. What is the Maximum Amount You Can Have in a Savings Account? Photo of Thomas (TJ) Porter Thomas (TJ) Porter What is the Maximum Amount You Can Have in a Savings Account? The savings account is a core bank account that is designed to be a place where... How Much Money Should You Keep in a Savings Account? Photo of Paul Sisolak Paul Sisolak How Much Money Should You Keep in a Savings Account? Your savings account may be the go-to for accumulating wealth and putting away... What's the Most Amount of Cash You Can Withdraw at Once? Find out how much cash you can withdraw at one time from your bank accounts and learn what rules and security protocols apply to such a large transaction. How Does FDIC Deposit Insurance Work With Bank Accounts? Learn how FDIC deposit insurance works when it comes to making sure that your money in bank accounts is safe when a bank fails or is shut down. The Best Savings Accounts for Your Kids Photo of Simon Zhen Simon Zhen The Best Savings Accounts for Your Kids It’s a wise move to begin teaching your children how to save at an early... The Difference Between Regular Savings Account and Health Savings Account (HSA) Photo of Paul Sisolak Paul Sisolak The Difference Between Regular Savings Account and Health Savings Account (HSA) Savings accounts are great multitaskers, holding onto your deposits for... What is a Christmas Club Savings Account and Should You Open One? Learn more about Christmas Club savings accounts and how they work. Compare them to the top online savings accounts that may offer higher interest rates. A Complete List of Savings Accounts Offered by Online Banks in the U.S. View a complete list of savings accounts offered by online banks in the U.S. Compare the rates, minimum deposits, and minimum balances to earn APY. The Best Savings Accounts to Save for Home Down Payments Photo of Simon Zhen Simon Zhen The Best Savings Accounts to Save for Home Down Payments Imagine your money growing at least 100x faster as you stay diligent with your...