Advertising Disclosure

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

Banking 101: What is an NSF Fee?
Banking 101: What is an NSF Fee?
Written by Yaël Bizouati | Published on 5/17/2019

Note: This article is part of our Basic Banking series, designed to provide new savers with the key skills to save smarter.

Banks with more than $1 billion in assets collected more than $11.45 billion in overdraft and nonsufficient funds (NSF) fees in 2017, according to the Center for Responsible Lending. That total — compiled by the center using Federal Deposit Insurance Corp. data — is up $10...

Continue Reading
Banking 101: Understanding Your Bank Statement
Banking 101: Understanding Your Bank Statement
Written by Chaunie Brusie | Published on 5/17/2019

Note: This article is part of our Basic Banking series, designed to provide new savers with the key skills to save smarter.

Whether you get your bank statement online or in the mail, you might wonder how to get a good handle on everything it’s telling you. Maybe you just have a few questions about different parts of the statement. What’s that monthly account fee? Why is your balance different than you expected? Is that an error you need to address? If so, who...

Continue Reading
Banking 101: What to Look for in Prepaid Debit Cards
Banking 101: What to Look for in Prepaid Debit Cards
Written by Jacqueline DeMarco | Published on 5/16/2019

Note: This article is part of our Basic Banking series, designed to provide new savers with the key skills to save smarter.

You may not know it, but 8.4 million households in the United States are unbanked. An additional 24.2 million American households are underbanked, meaning they have obtained financial products and services (beyond a checking or savings account) outside of the banking system.

But these aren’t just statistics; they are people who really need a way to pay. You might...

Continue Reading
Banking 101: Annuity vs CD - How Do They Compare?
Banking 101: Annuity vs CD - How Do They Compare?
Written by Michelle Black | Published on 5/16/2019

Note: This article is part of our Basic Banking series, designed to provide new savers with the key skills to save smarter.

Annuities and certificates of deposit (CDs) represent different ways to save money, for retirement as well as other goals. Both savings vehicles give you the possibility to earn a higher return on your money than just parking your cash in a standard...

Continue Reading
Banking 101: Is Keeping Cash at Home Wise?
Banking 101: Is Keeping Cash at Home Wise?
Written by Laura Gariepy | Published on 5/15/2019

Note: This article is part of our Basic Banking series, designed to provide new savers with the key skills to save smarter.

Cash is king, the saying goes. But is keeping cash at home really necessary?

According to a 2018 Pew Research study, Americans are relying less on cash to fund their lifestyle, with 29 percent of participants not using any cash to make their typical weekly purchases.

Even if you’re one of the people who don’t use cash regularly, it’s important to consider that keeping...

Continue Reading
Banking 101: Why the 50/30/20 Rule is Better than the 10% Savings Rule
Banking 101: Why the 50/30/20 Rule is Better than the 10% Savings Rule
Written by David Rodeck | Published on 5/15/2019

Note: This article is part of our Basic Banking series, designed to provide new savers with the key skills to save smarter.

If you’re going to reach your financial goals, you need to save regularly. But saving money is tough, so you need rules to stick with. One very effective rule is to set a fixed savings rate in your budget, where every month you save a percentage of your salary for retirement and an emergency fund.

For decades, a common rule of thumb has...

Continue Reading
Banking 101: How to Maximize Your Bank Accounts
Banking 101: How to Maximize Your Bank Accounts
Written by Renee Morad | Published on 5/15/2019

Note: This article is part of our Basic Banking series, designed to provide new savers with the key skills to save smarter.

When it comes to choosing the best bank accounts for your personal needs, there are plenty of factors to mull over. Extra fees, overdraft protection, interest rates and account types can really complicate your choices.

Here’s the good news: With careful strategizing, it’s possible to minimize your fees, while maximizing the utility of your accounts and the interest they earn to safely grow...

Continue Reading
Banking 101: Is it Worth Writing a Postdated Check?
Banking 101: Is it Worth Writing a Postdated Check?
Written by Oscar Gonzalez | Published on 5/15/2019

Note: This article is part of our Basic Banking series, designed to provide new savers with the key skills to save smarter.

If you need to write a check but you don’t have enough money in your account to cover it, you might consider postdating the check.

When you postdate a check, you put a future date on it rather than the current one. This attempts to delay a recipient from cashing the check until payment is due or there are sufficient funds in your...

Continue Reading
Best No Penalty CD Rates
Best No Penalty CD Rates
Written by James Ellis | Updated on 5/2/2019

Certificates of deposit (CDs)...

Continue Reading
The Fed’s Pause Continues - Rate Predictions & CD Strategies for 2019
The Fed’s Pause Continues - Rate Predictions & CD Strategies for 2019

As expected, the Fed reaffirmed its “patience” policy by holding steady with the federal funds rate target. The post-meeting statement contained the same patience language that was in previous meeting statements:

One change from the March statement is the description of growth of economic activity. In March, the statement read, “growth of economic activity has slowed from its solid rate in the fourth quarter.” Today’s statement read, “economic activity rose at a solid rate.” This change should reduce the odds of a 2019 Fed rate cut.

Continue Reading
Load More...