- How Do Demand Deposit Accounts Work?
Having a demand deposit account is the first step many people take when they embark on a saving and investing program. Most consumers begin with a checking account and add a savings account or a money market account as time… read more…
- What Does ACH Stand for in Banking?
For most of us, sending bills and receiving paychecks by mail are things of the past. We shop online, enroll in direct deposit, pay our bills, and file taxes online. If you have ever wondered what facilitates all these digital… read more…
- What Time Does the Bank Close?
While there’s a lot you can do at an ATM or through a mobile banking app, there are times when you need to visit an actual bank branch. So what time does the bank close? In the past, all bank… read more…
- How to Get Your Bank Statement Online or By Mail
Every month, your bank prepares a document for you showing all of of your transactions for the past month. This is called a bank statement. It’s important to review your bank statement regularly – in part to ensure there aren’t… read more…
- Are Money Market Accounts FDIC-Insured?
Money market accounts work like a blend of a savings and a checking account. They come with the potential to earn higher interest rates, but may also let you write checks. Luckily, these accounts are FDIC-insured, which keeps your money… read more…
- Are Credit Unions FDIC-Insured?
Even though credit unions are not FDIC-insured, they still enjoy strong protection from the federal government. In fact, a different entity essentially does for credit unions what the Federal Deposit Insurance Corporation (FDIC) does for banks. The National Credit Union… read more…
- How FDIC Insurance Works and How Much It Covers
If you’ve ever listened to the radio or watched television, chances are you’ve heard a commercial for a bank where a voice at the end says something about being FDIC-insured. If you’ve never stopped to look it up, FDIC stands… read more…
- What Is a Bank Holiday?
Most banks are open for business Monday through Saturday. But occasionally you might show up at your bank on a weekday and find that the bank has been closed all day. Because most banks follow a federal holiday schedule, their branches… read more…
- What Is a Bank Transit Number?
A bank transit number, also known as a routing number, is a nine-digit number that helps financial institutions identify what institution issued checks or other documents financial documents. Transit numbers have been around for over 100 years, and they help… read more…
- What Is a Bank Branch?
A bank branch is a physical location of a banking corporation, such as Bank of America or Wells Fargo. These buildings are technically referred to as “brick-and-mortar” branches, and they provide face-to-face service for customers of a bank. Branches customarily feature mortgage officers, financial advisors and other professionals as well, something that modern-day online banking… read more…
- Can You Cash a Check at Any Bank?
Cashing a check at any bank will depend on the bank you’re trying to cash the check at and the bank the check is coming from. Some of the best banks will cash pretty much any check for you, even if… read more…
- How to Transfer Money From One Bank Account to Another
Sometimes you’ll need to transfer money from one bank account to another. Perhaps you’re paying some for the monthly rent or maybe you want to move your money from an old account into a high-interest savings account. Regardless, you have a… read more…
- What Is a High-Yield Savings Account?
In a world where Americans are saving less and less, it helps to have something to motivate you to sock away some money for an emergency fund and a high-yield savings account can do that. As the name implies, these… read more…
- How Does a Money Market Account Work?
Money market accounts tend to generate interest rates that climb well above those of even the best savings accounts. They also offer additional benefits. For example, several banks link money market accounts to debit cards. You can use these to… read more…
- How to Close a Bank Account
Closing your bank account may seem simple at first glance. However, there are several steps to follow to ensure your account is closed correctly. Following the correct process will help you avoid unnecessary charges, fees and complications. While the exact steps may vary by bank, this is how to close a bank account the right… read more…
- How to Open a Bank Account Online
If you want to open a bank account, you no longer need to visit a branch in person. With digital banking becoming more common, you can open and manage everything from saving accounts to mortgages, through online banking. In fact,… read more…
- How Long Should You Keep Bank Statements?
It seems we always end up with a stack of paper documents lying around. This is still true even with the major shift to mobile and online banking. But how long do we really need to keep those bank statements… read more…
- What Are the Best Ways to Transfer Money Internationally?
Whether you’ll be making a number of international money transfers or it’s a one-time transaction, it’s important to know the best ways to send money internationally. Maybe you need to put down a deposit for a vacation rental, send money… read more…
- Bank ATM Fees: How Much Are They and How Can You Avoid Them?
When it comes to accessing your various bank accounts, ATMs offer a big convenience. This is especially true when you bank with an institution that offers thousands of ATMs all over the world. According to data from the World Bank,… read more…
- How to Fill Out a Money Order
Despite the ease it provides, paying in cash isn’t always the most secure form of payment. Instead, you may be asked to pay with a money order. You can get a money order almost anywhere, like banks, post offices and… read more…
- How to Cash a Check
At some point, you may end up receiving money in the form of a check. This could be your paycheck, your tax refund or a personal check from a friend. Unlike cash, you can’t turn around and spend the check… read more…
- What to Do After You’ve Lost Your Debit Card
Many of us have experienced that heart-sinking moment when you get to the ATM or cash register only to discover you don’t have your debit card. Perhaps you dropped it in the parking lot or someone snagged it from your… read more…
- What Is a Safe Deposit Box?
A safety deposit box, also known as a safe deposit box, is an individually locked box held within a larger vault. These are usually located in a bank, which is a very secure place to put it. These boxes come… read more…
- What Are Daily ATM Withdrawal Limits and Debit Purchase Limits?
When it comes to withdrawing money from an ATM, you are limited to the amount you can withdraw in one day. You’re also subject to the amount of money you spend with your debit card each day. All banks impose… read more…
- What Banks Charge for Wire Transfers
Wire transfers have proven to be a valuable asset for people who need to send money quickly and securely. Whether you’re sending money to a relative abroad or closing on a home, wire transfers offer a safe way to send large… read more…