- What Is the National Credit Union Administration (NCUA)?
The National Credit Union Administration (NCUA) is an independent federal agency responsible for regulating and supervising federal credit unions. It aims to ensure the stability and safety of these financial institutions, protecting the interests of their members. By providing insurance for deposits, much like the Federal Deposit Insurance Commission (FDIC) does for banks, the NCUA… read more…
- Differences of a Cashier’s Check vs. Certified Check
A cashier’s check, backed by the issuing bank’s own funds, provides an ironclad guarantee that the payment will be honored, making it a go-to choice for transactions requiring absolute certainty. On the other hand, a certified check offers a slightly different form of security; the bank verifies the payer’s available funds and earmarks them specifically… read more…
- Pros and Cons of a Money Market Account
Money market accounts (MMAs) offer a unique blend of features that may appeal to savers looking for higher interest rates, liquidity and security. However, understanding the full spectrum of advantages and disadvantages associated with these accounts is important when evaluating different savings vehicles. Whether you’re considering a money market account for its higher interest rates,… read more…
- 3 Benefits of a Regional Bank vs. National Bank
When considering where to keep your financial assets, the choice between regional and national banks is a significant one. Regional banks are typically smaller in scale, offer a more localized banking experience and may even charge lower fees. They are often deeply embedded within the communities they serve, which can translate into a more personalized… read more…
- How to Join a Credit Union in the U.S.
A credit union is a member-owned financial cooperative that provides banking services, such as savings accounts, loans, and other financial products, to its members. These members often share a common characteristic like employment, location, or membership in a specific organization. Whether you’re considering a switch from a conventional bank or simply exploring your financial options,… read more…
- Bank Failures: How to Keep Your Money Safe From a Worst-Case Scenario
After a tumultuous 2023 that saw some of the largest bank failures ever, the U.S. banking system appears to have stabilized. More bank failures are inevitable, however, and depositors could risk losing money any time one occurs. The first line of defense, federal deposit insurance from the FDIC, has worked reliably to date. To avoid… read more…
- What Is a Zero Balance Account?
Banking offers many options for your business needs. One such offer is a zero balance account, which offers businesses an effective way to optimize cash management, improve liquidity, reduce borrowing costs and streamline financial operations. Here’s a breakdown of the advantages and disadvantages. A financial advisor can help you create a financial plan for your… read more…
- FDIC vs. NCUA: Where Is Your Money Safest?
Both the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA) insure financial institutions with the backing of the government. But while the FDIC provides insurance for bank deposits, the NCUA insures credit union deposits. Here are the key differences. If you want to maximize your savings, a financial advisor can help… read more…
- Is My Money Safe in the Bank?
In recent months the FDIC has managed two of the largest bank failures in U.S. history. The collapse of Silicon Valley Bank (SVB) and Signature Bank happened shockingly fast. And First Republic wasn’t far behind. Consumers have plenty of questions, as… read more…
- Some Banks Are Offering Sign-Up Bonuses to New Clients, But These Perks May Expire Soon
Some banks are offering bonus cash to consumers who open new accounts. These promotions trail the high-profile failure of several banks in March and the Federal Reserve’s recent rate increases. New banking promotions may provide valuable incentives to new depositors.… read more…
- How Does Neobanking Work?
Neobanks offer internet banking services and are created by partnerships between financial tech firms and banks to offer federally insured bank accounts. Do you find yourself wondering what a neobank is and whether it’s a good option for you? We’ll… read more…
- Understanding How Your Bank Manages Risk
When you open a checking account or a savings account, you might not be too concerned about the possibility of losing money. After all, bank failures are largely a rarity and when one does occur, the FDIC is there to… read more…
- Are Online Banks Safe?
Bank failures and economic turbulence have made bank depositors nervous – but what about banks where you can’t visit a branch or speak to a teller? Can you withdraw your money when needed and protect yourself from risks? While the… read more…
- What Is a Debit Card?
A debit card is a physical payment card that is used to electronically access the money you have in your bank account to make purchases or transfer money. Debit cards can be used at point-of-sale terminals or online to transfer… read more…
- Differences Between Checking vs. Savings Accounts
Checking and savings accounts are the two most common financial products. Most Americans use one or both of them. Essentially, a checking account is used to manage your spending money on a day-to-day basis. A savings account, meanwhile, is used… read more…
- What Is Regulation E?
If you have a bank account, there are certain federal rules in place that are designed to protect your money. Regulation E is one of the most important. This federal regulation governs electronic fund transfers between bank accounts. If your… read more…
- What Is a Dormant Bank Account?
Using multiple bank accounts can be a good way to separate funds for different financial goals. However, if you forget about one of those accounts it could end up falling dormant. A dormant bank account is an account that registers… read more…
- How Many Bank Accounts You Should Have
Knowing how to bank effectively is a big part of being financially responsible. Different banks can have advantages over others. Employing different banking techniques can improve how you budget your money. One of those techniques is having multiple bank accounts. So,… read more…
- Are Money Market Accounts Safe?
When banking failures occur, depositors naturally become worried about their money. They also tend to question whether to withdraw cash from their accounts or leave it where it is. And as depositors look for a safe place to house their… read more…
- What Is a Returned Check Fee?
Writing checks may not be something you do often. But if you do write a check, it’s important to make sure you have enough money in your bank account to cover it. If you don’t, your bank might charge a… read more…
- What Is a Third-Party Check?
If someone writes a check to you, you could write that check over to someone else instead of cashing it or depositing it into your bank. At that point, it becomes a third-party check. Third-party checks can allow you to… read more…
- Cashier’s Check vs. Money Order
There are a few options when you need a secure way of paying for something. Sure, cash is king, but not everyone feels safe carrying a thick wad around. Cashier’s checks and money orders are two of the more secure… read more…
- Overdraft Fees vs. NSF Fees
Both overdraft and NSF fees can hurt the cash flow in your bank account, especially when it’s time to pay a bill. The respective fees could stop you from going to the store to get personal items. But while the… read more…
- Understanding Why Banks Hold Checks
Depositing a paper check into your bank account could mean waiting a few days before you can access those funds. Banks routinely place holds on checks before crediting the amount to your account. Why do banks hold checks? There are… read more…
- How Much Cash Can You Withdraw From Your Bank?
Just about every bank puts a limit on how much cash you can withdraw each day. In part, this is a security feature to prevent thieves from cleaning out unauthorized accounts. In other part, this helps banks and ATMs to… read more…