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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 the Durbin Amendment?
Banking 101: What Is the Durbin Amendment?
Written by Stephanie Vozza | Published on 7/19/2019

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

The Durbin Amendment is part of the landmark Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. It may sound like an arcane part of Congress’s effort to reform giant, too-big-to-fail banks, however the Durbin Amendment impacts you every time you swipe your debit card.

The 2008 financial crisis prompted the U.S. government to investigate the role banks played in crashing the...

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Historical CD Rates: How Things Have Changed Since the 1980s
Historical CD Rates: How Things Have Changed Since the 1980s
Written by Lauren Perez | Published on 7/17/2019

In dynamic, ever-changing financial markets, interest rates constantly fluctuate. CD rates are no exception. Examining historical CD rates can give us insight into the direction rates may be heading in the future.

The current situation is characterized by declining CD yields, in response to the Federal Reserve’s latest policy pause. The average 6-month CD rate in July 2019 sits at 0.92% APY. What a difference the decades can make: 6-month CD rates had climbed to around 18% in the early 1980s.

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Banking 101: Daily ATM Withdrawal Limits at Popular Banks — And How to Avoid Them
Banking 101: Daily ATM Withdrawal Limits at Popular Banks — And How to Avoid Them
Written by Brynne Conroy | Published on 7/18/2019

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

If you keep your money at one of the 20 largest banks in the country, your checking account will have a daily ATM withdrawal limit between $300 and $5,000.

There are pros and cons to being on either end, DepositAccounts founder Ken Tumin said.

“Larger withdrawal limits can...

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Banking 101: HRA vs. HSA - What's the Difference?
Banking 101: HRA vs. HSA - What's the Difference?
Written by Lauren Perez | Published on 7/18/2019

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

It’s time for you to elect your new insurance benefits at work. You’re presented with several options, which can easily become overwhelming.

Health reimbursement accounts (HRAs) and health savings accounts (HSAs) are two common health care terms that seem similar but have major differences.

Both help you pay for eligible health care expenses. However, each product differs in how you fund it, how you...

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Banking 101: How to Save for Retirement at Any Age
Banking 101: How to Save for Retirement at Any Age
Written by James Ellis | Updated on 7/18/2019

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 saving for your retirement, there's no such thing as being too fussy. You may have to live off your nest egg for more than 20 years if you retire at 65, according to data from the Social Security Administration, and that means...

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Banking 101: The Best Money-Saving Apps
Banking 101: The Best Money-Saving Apps
Written by Julie Ryan Evans | Published on 7/18/2019

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

Many Americans are on shaky financial ground. According to a 2018 report from the Federal Reserve, 40% of people wouldn’t have the money to cover an unexpected expense of $400 or would have to sell something or borrow money to do so.

The good news is that technology makes saving money easier than ever today. There are apps that can help you...

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Banking 101: What Is the Social Security Trust Fund?
Banking 101: What Is the Social Security Trust Fund?
Written by Michelle Lambright Black | Published on 7/12/2019

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

Social Security was originally created in the 1930s to give workers a source of income once they reached retirement. Today, the program doesn’t just help retirees, but also provides financial benefits to disabled workers and the families of workers who’ve passed away.

Millions depend upon the...

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Banking 101: How to Send Money to Someone Without a Bank Account
Banking 101: How to Send Money to Someone Without a Bank Account
Written by Peter Fleming | Published on 7/12/2019

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

There are plenty of ways to send money to people that don’t involve cash in an envelope. Online payment apps let you transfer funds to friends and relatives instantly. Some people still write checks and send them by mail, like the $20 you got from your...

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Banking 101: How to Get a Debit Card
Banking 101: How to Get a Debit Card
Written by Devon Delfino | Published on 7/12/2019

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

Debit cards are a great way to manage your personal spending, minimize the amount of cash you carry and avoid running up a credit card balance. They are universally accepted as a payment method at stores and on the internet, and you are seldom very far from an ATM where you can use your debit card to withdraw cash.

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The Best Savings Accounts in July 2019
The Best Savings Accounts in July 2019
Written by Lauren Perez and Ken Tumin

Editorial note: Any opinions, analyses, statements, reviews or recommendations expressed in this article are those of the authors' alone,...
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