Savings Account FAQs & Basics

How Immigrants Can Open a Bank Account Without a Social Security Number Photo of Thomas (TJ) Porter Thomas (TJ) Porter How Immigrants Can Open a Bank Account Without a Social Security Number If you’ve recently moved to the United States, you’re probably feeling overwhelmed... Should Couples Open Joint Savings Accounts? Compare the benefits and drawbacks of sharing a joint savings account to see whether couples can use one to manage their money together. 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? A money market account is a special type of bank account that combines the... The Best Savings Options to Beat Inflation Photo of Kevin Mercadante Kevin Mercadante The Best Savings Options to Beat Inflation If you’re saving and investing money, one constant challenge is... 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 Learn about the different ways that a grandparent can help save for the financial future of their grandchildren, whether it be for general use or education. 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... How to Choose the Best Online Savings Account for You Photo of Thomas (TJ) Porter Thomas (TJ) Porter How to Choose the Best Online Savings Account for You Online banks have become popular in recent years for a number of reasons.... Savings Accounts vs. Bond Funds & ETFs: Which is Better? 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 Be aware of the different types of fees that a bank could charge on a savings account. Find out why they are being charged, how much they cost, and what you can do to avoid them. Learn about online banks that are able to offer significantly higher savings rates without expensive fees. 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? Photo of Thomas (TJ) Porter Thomas (TJ) Porter Compounding Interest Daily vs. Monthly: What’s Better for Your Savings? The difference between daily and monthly compounding interest is typically... 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. Emergency Fund Calculator: Find Out Your Ideal Safety Net Find out how much money you should keep in an emergency fund, based on your monthly essential living expenses, to help survive unexpected expenses. 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... Savings Account vs. Money Market Account: Which Is Better? Photo of Valencia Patrice Higuera Valencia Patrice Higuera Savings Account vs. Money Market Account: Which Is Better? Savings accounts and money market accounts are options if you’re looking for a... 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 Find how your bad credit affects your chances of being approved for a new savings account. Learn what you can do to increase the likelihood that your credit score will not stop you from opening a new bank account. 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 checking... Can You Get a Debit Card on a Savings Account? Photo of Thomas (TJ) Porter Thomas (TJ) Porter Can You Get a Debit Card on a Savings Account? It’s very common to wonder whether you can get a debit card for your savings... 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? Find out whether there is a maximum amount that you can deposit in a savings accounts and what the high balance means for your money and its safety. 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? Photo of Paul Sisolak Paul Sisolak What's the Most Amount of Cash You Can Withdraw at Once? Large cash withdrawals (of $10,000 or more) require reporting to the IRS and may... 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 Find out which kids savings accounts are the best for your children. Learn how to use them to teach strong financial habits when they're still young. 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? Photo of Paul Sisolak Paul Sisolak What is a Christmas Club Savings Account and Should You Open One? The holiday season is a time for gatherings but it can be a financial strain for... A 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.