Bank Deals Blog: Deposits Education and Strategies

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...

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...

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...

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...

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...

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...

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...

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...

Certificates of deposit (CDs)...

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.