What Is a Certificate of Deposit (CD)?

When you first start saving money consistently, you probably just transfer the funds into a savings account linked to your checking account. But as that amount grows, it’s time to start thinking about a more robust savings strategy. A traditional savings account provides the least amount of interest possible. While there are certainly advantages to…

4 Steps to Get Out of ChexSystems

If you’ve been denied a checking or savings account at a bank, it is likely due to a negative listing on ChexSystems. ChexSystems is a network made up of financial institutions that keep track of individuals who have imperfect banking records. Items such as excessive overdrafts, insufficient funds (NSF), or accounts closed with money still…

Best High-Interest Savings Accounts Online for 2017

Saving money is great, but earning interest on that cash is even better. While historically low interest rates are great when you need a loan, they don’t help much when you want to put your money to work. Thankfully, there are several savings accounts currently available that offer high-interest yields. They vary in terms of…

Everything You Need to Know About TeleCheck

In a world where data collection happens at every corner — from your online browsing history to what you buy at the grocery store — it comes as no surprise that your history of writing checks is also tracked. One of the most prominent agencies collecting data on your check-writing behavior is TeleCheck. Much like…

Best Checking Accounts of 2017

Having the right checking account comes with a number of benefits and conveniences, from free ATMs to automatic billpay. Your checking account can also end up costing you money in the form of monthly maintenance fees and overdraft charges. Finding the best fit depends on a variety of factors, including how you make deposits, what…

Best Prepaid Debit Cards of 2017

A prepaid debit card can be used just as you would any other debit card, except that it is preloaded with cash instead of being connected to your checking account. It comes with a number of benefits that both individuals with bank accounts and those without may wish to take advantage of. A prepaid debit…

Best Money Market Accounts of 2017

A money market account is a savvy way to save, especially if you’ve already accumulated a fair amount of funds to put away. A money market account is a type of savings account that typically requires a higher minimum deposit and daily balance, yet it offers a higher interest rate than most standard savings accounts.…

What Is a Voided Check?

While many people have switched to using debit cards instead of checks, there are times when checks may still be needed. There are also instances when a company requests a voided check or when you wish to have a check voided for your own purposes. Rather than figuring out the process as it comes up,…

Credit Unions vs. Banks: What’s the difference?

At first glance, credit unions and banks may not seem that different from each other. After all, they both offer consumer checking and saving accounts and they also make loans using deposits. Aside from these identical basic services, credit unions and banks also maintain several differences, particularly in their organizational design, infrastructure, and rates and…

How to Get a Cashier’s Check

When it comes time to make a large purchase, your payment options may be limited. Perhaps the seller isn’t willing to accept a personal check and cash isn’t a practical option. In fact, depending on the situation, you may be required to use a cashier’s check. Whether it’s mandatory or it just sounds like a…