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.
POSTED ON TUESDAY, NOVEMBER 10, 2020 BY DEPOSITACCOUNTS
Written by Dawn Papandrea | Published on 11/10/2020
Many traditional banks aren’t offering much of an opportunity to earn high APYs right now. Some consumers are turning to high-yield and rewards checking accounts to try to squeeze a little more value from their banking relationships.
However, the requirements to earn the highest APYs and best cashback rewards can often be onerous — or even risky for some consumers. DepositAccounts researchers reviewed 73 high-yield and rewards checking accounts from banks and credit...
As expected, the Fed didn’t announce any policy changes at the end of its two-day meeting. No changes were made to interest rates or asset purchase plans. All policy sections of today’s FOMC statement were exactly the same as those in the September statement. Only the section that includes an overview of the economy had any changes, and those changes were minimal. Here’s the part of the policy sections describing interest rates:
No one dissented at today’s meeting. One of the dissenters in the September meeting, Minneapolis Fed President, Neel Kashkari,...
POSTED ON WEDNESDAY, OCTOBER 14, 2020 BY DEPOSITACCOUNTS
Written by Devon Delfino | Published on 10/14/2020
Banks have been steadily reducing brick-and-mortar locations over the past several years. And with the economic and social impacts of the coronavirus pandemic, banks and businesses alike are taking a hit. The question is: What will those ramifications look like as things continue to evolve?
According to the latest research from DepositAccounts, banks have slowed branch closures relative to openings, even though in 2020’s second quarter these financial institutions opened the fewest branches...
POSTED ON TUESDAY, OCTOBER 13, 2020 BY DEPOSITACCOUNTS
Written by Lauren Perez | Published on 10/13/2020
A student checking account can be a great tool to help students learn money management skills. With so many choices out there, DepositAccount experts sifted through dozens of student checking accounts and regular accounts to make it easier to find the best one for you.
When choosing these accounts, we took into account monthly fees, any...
POSTED ON WEDNESDAY, SEPTEMBER 16, 2020 BY KEN TUMIN
At the completion of its two-day FOMC meeting, the Fed announced a policy that’s inline with its new inflation strategy. In summary, the policy suggests that we won’t see a Fed rate hike for a long time, a period that's even longer than what was suggested at previous Fed meetings. The Fed also released updates to its Summary of Economic Projections (SEP) which includes federal funds rate forecasts that now extend out through 2023. Based on the FOMC statement and the SEP, it looks very unlikely that the Fed will...
POSTED ON THURSDAY, SEPTEMBER 10, 2020 BY DEPOSITACCOUNTS
Written by Sarah Berger | Published on 9/10/2020
When it comes to adding gold to your portfolio, there are two main courses of action: Buying physical gold, and buying gold through an investment vehicle. Gold is often considered a solid commodity investment, and it is perceived by many as a safe haven during times of market turmoil.
If you’re interested in adding gold to your arsenal, you cannot simply stroll into a bank and begin buying up gold bars. Here’s what...
POSTED ON WEDNESDAY, SEPTEMBER 9, 2020 BY DEPOSITACCOUNTS
Written by Sarah Berger | Published on 9/9/2020
The COVID-19 pandemic has resulted in a lot of changes, ranging from the postponement of major life events to the way companies do business. A new survey from DepositAccounts reveals that consumers’ financial priorities are no exception.
In fact, our survey of over 1,000 Americans found that an overwhelming 82% of respondents said the coronavirus pandemic has caused them to change their financial priorities in some way. Perhaps the silver lining of the...
POSTED ON THURSDAY, SEPTEMBER 3, 2020 BY DEPOSITACCOUNTS
Written by Ken Tumin | Published on 9/03/2020
Online bill pay is a helpful tool that allows you to pay multiple bills to different providers from one central dashboard. Most financial institutions have adopted online bill pay as a core product feature of the bank accounts they offer, typically at no additional cost. This article covers everything you need to know about online bill...