About Ken Tumin

Ken Tumin founded the Bank Deals Blog in 2005 and has been passionately covering the best deposit deals ever since. He is frequently referenced by The New York Times, The Wall Street Journal, and other publications as a top expert, but he is first and foremost a fellow deal seeker and member of the wonderful community of savers that frequents DepositAccounts.


Popular Posts

Bank Deals Blog

Best Metros for Early Retirement
Best Metros for Early Retirement
Written by Julie Ryan Evans | Published on 7/8/2024

 

In a race to retire? You may want to consider FIRE. It’s an acronym for a retirement savings and investment strategy — “financial independence, retire early.”

You may also want to consider moving to Omaha, Neb., as it’s the best metro for early retirement, according to a new DepositAccounts study.

Continue Reading
What Is a Certificate of Deposit (CD)?
What Is a Certificate of Deposit (CD)?
Written by Michelle Lambright Black | Edited by Rebecca Stropoli | Published on 6/28/2024

 

A certificate of deposit (CD) is a type of savings account that pays a fixed interest rate for a specific amount of time. In many cases, CD rates are higher than the interest rates on standard savings accounts. But in exchange, you must agree not to withdraw the...

Continue Reading
What Is ChexSystems and What to Do if You’re Listed
What Is ChexSystems and What to Do if You’re Listed
Written by Dori Zinn | Edited by Michael Kitchen | Published on 6/28/2024

 

ChexSystems lets financial institutions know about their customers. It’s like a credit bureau, but it looks at your banking history and reports it to a bank or credit union when you apply for an account.

You can view your ChexSystems report for free. And if the report is the reason you are denied a banking account, you still have options.

On this page:
  • What is ChexSystems?
  • How does ChexSystems...
Continue Reading
Online Banking vs. Traditional Banking: Which Is Right for You?
Online Banking vs. Traditional Banking: Which Is Right for You?
Written by Kat Tretina | Edited by Sarah Fisher | Published on 6/28/2024

 

If you feel like the traditional approach to banking — driving to a brick-and-mortar branch, waiting in line to talk with a bank teller — has gone out of fashion, you're right. According to the Federal Deposit Insurance Corp. (FDIC), nearly 64% of Americans said that online or mobile...

Continue Reading
What Is Online Bill Pay, and Why Should You Use It?
Written by Kim Porter | Edited by Ali Cybulski | Published on 6/25/2024

 

Online bill pay can be a helpful tool to manage bills with multiple providers in one central place using your bank’s website or app. Most financial institutions have adopted online bill pay as a core feature of the bank accounts they offer, typically at no additional cost.

Continue Reading
Millennials' Total Net Worth Nearly Triples in 4 Years
Millennials' Total Net Worth Nearly Triples in 4 Years
Written by Julie Ryan Evans | Published on 6/24/2024

 

Millennials often get a bad rap for being lazy, but their net worth begs to differ.

When you add the numbers — or subtract them to calculate net worth (assets minus liabilities) — millennials are crushing it financially. Our latest DepositAccounts study found this generation’s total net worth (a key indicator of financial health)...

Continue Reading
15 Banks That Help You Get Paid Faster With Early Direct Deposit
Written by Jill A. Chafin | Edited by Ali Cybulski | Published on 6/20/2024

 

If you find yourself counting down the days until payday, you may now be able to receive your funds a bit earlier thanks to early direct deposit. This relatively new banking feature is increasingly available as a perk, often for free, for certain accounts.

Continue Reading
5 Easiest Bank Accounts to Open Online
Written by Ken Tumin | Edited by Ali Cybulski | Published on 6/5/2024

 

Many banks have made opening an account online quick and easy. You can often do everything on your computer or mobile device, skipping a branch visit or mailing forms.

The ease of opening a bank account online has limits, however, because all financial institutions are required to verify the identity...

Continue Reading
NCUA vs. FDIC: What’s the Difference?
Written by C. Saint-Denys | Edited by Ali Cybulski | Published on 6/4/2024

 

The National Credit Union Administration (NCUA) and the Federal Deposit Insurance Corp. (FDIC) are both federal agencies charged with the task of insuring deposits. Each provides government-backed insurance, and coverage is automatic with a federally insured bank or credit union. The FDIC insures banks and the NCUA insures credit...

Continue Reading
10 Banks That Don’t Use — or May Overlook — ChexSystems
Written by Kim Porter | Edited by Ali Cybulski | Published on 6/4/2024

 

If you’ve ever had trouble opening a bank account, ChexSystems may be the reason. ChexSystems is a consumer reporting agency that collects information about bank accounts and issues consumer reports to banks and credit unions.

A financial institution may pull your credit report to determine whether to approve your application...

Continue Reading
What Are Treasury Bill Rates and How to Buy T-Bills
Written by C. Saint-Denys | Edited by Ali Cybulski | Published on 6/4/2024

 

Treasury bills may be an attractive choice if you’re seeking safe and secure investment options. T-bills are backed by the U.S. government, and they are highly liquid — meaning they can easily be sold for cash because they mature in one year or less.

The Department of the Treasury issues...

Continue Reading
Payable-on-Death (POD) Bank Account: Do You Need One?
Written by C. Saint-Denys | Edited by Michael Kitchen | Published on 6/4/2024

 

A “payable on death” bank account, or POD, allows one or more beneficiaries to receive the account balance if the owner dies.

A POD bank account can help with estate planning and let your beneficiaries access their inheritance quickly without a complicated and time-consuming probate process.

On this page:
  • What...
Continue Reading
View Archive

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.