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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

The Best Checking Accounts in July 2020
The Best Checking Accounts in July 2020
Written by Lauren Perez and Ken Tumin

Editorial note: Any...
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What Are the Most Liquid Accounts? Liquidity vs. Yield
Written by David Rodeck | Published on 7/1/2020

 

A liquid bank account is one that lets you take out cash quickly without penalties or fees. When it comes to picking an account, it’s typically a trade-off between liquidity and yield, the interest rate you earn on your money.

Checking accounts, for example, are very liquid because they do not limit withdrawals, whereas CDs are less...

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Review of Level Cash Management Account

Online-only cash management accounts seem to be all the rage these days. Combining high interest rates with no fees, these hybrid accounts offered by fintech companies rather than traditional banks boast advantages of both checking and savings accounts. Generally, the experience is designed for mobile, with convenient access to funds.

One such cash management offering is Level, which offers a debit card...

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What Is a Money Market Account?
Written by Dillon Thompson | Published on 6/26/2020

 

A money market account is a special kind of savings account that’s offered by both banks and credit unions. There are plenty of advantages to these accounts: they are insured by the Federal Deposit Insurance Corporation (FDIC) and National Credit Union Administration (NCUA), can earn interest at a solid rate and often come with a debit card or checks. However, there are also drawbacks, including account fees and a monthly transaction limit....

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Review of CIBC's Savings Accounts and CD Rates
Written by Mitchell Grant | Published on 6/26/2020

 

CIBC U.S. is backed by CIBC (Canadian Imperial Bank of Commerce), a 150-year-old staple in Canadian banking. Headquartered in Chicago, CIBC U.S. offers most of its products through local branches in Illinois, with single locations in Michigan, Missouri and Wisconsin as well.

In addition to its range of checking account, savings account and CD offerings, CIBC U.S. launched Agility Digital Banking in 2018, which offers an online savings account and CD.

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Review of Vio Bank Savings Account and CD Rates

 

Written by John Csiszar | Published on 6/11/2020

Vio Bank is the online division of MidFirst Bank, one of the largest privately owned banks in the U.S. But even though its parent bank has an extensive branch network, you can’t use its physical locations to access or service your Vio Bank account, as they are distinct entities.

As an online bank, Vio Bank is...

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Fed Projections Show Zero Rates Through 2022 - Strategies for Savers
Fed Projections Show Zero Rates Through 2022 - Strategies for Savers

As expected, the Fed didn’t announce any policy changes at the end of its two-day meeting. Today’s FOMC statement included the same paragraph from April’s statement which describes the Fed’s intention to maintain the near-zero target rate “until it is confident that the economy has weathered recent events.”

The Fed also announced that it plans to keep buying Treasurys and mortgage-backed securities “at least at the current pace.” This continues the commitment of “unlimited QE” that the Fed first announced at its March 15th emergency meeting.

The Fed has been successful in...

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The Best Cash Management Accounts in June 2020
The Best Cash Management Accounts in June 2020
Written by Sarah Berger and James Ellis | Updated on 6/08/2020

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Best No Penalty CD Rates in June 2020
Best No Penalty CD Rates in June 2020
Written by James Ellis | Updated on 6/08/2020

Certificates of deposit (CDs)...

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The Best Money Market Account Rates in June 2020
The Best Money Market Account Rates in June 2020
Written by Lauren Perez and Ken Tumin

Editorial note: Any...
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