A savings account is an account that allows you to store your money safely and earn interest. Savings accounts are a basic bank account that allows money to be deposited. It allows you to withdraw money when you need to. Savings accounts are offered by many banks, credit unions and other financial institutions. A savings … Continue reading What is a Savings Account?
Saving is when you are not spending all the money that you have that you have earned. Because you are “saving” it. It’s the process of putting aside money for future uses, and not spending it immediately. Why should we save money? You can save money to achieve short-term goals, such as saving to … Continue reading What is Saving?
A check is a document which is dated, written, and signed, that instructs a bank to pay money from the writer of the check, the payor, to the bearer, or payee, of the check. The check is printed by the drawing bank for the account holder to use. The payor signs the check and then … Continue reading What is a Check?
A check is a written order to pay someone a specific amount of money on a certain date. Here are the basic steps of how to properly write out a personal check with dollars and cents. STEP 1 DATE Today’s date. Include the month, day, and year. STEP 2 PAY TO The name … Continue reading How to Properly Write a Check: Basic Step by Step Instructions
Here are some not so common terms and abbreviations used in the banking industry.
The Check Clearing for the 21st Century (Check 21) Act affects banking customers throughout the United States, potentially making them vulnerable to extra bank fees — and worse, unintentionally bounced checks. This Act, designed to benefit the banking industry, is actually testament to the ongoing march of automation in the banking business, and outside of … Continue reading How the Check 21 Banking Law affects Customers
Before you open a bank account, it’s really important that you choose your bank very carefully. You need to exercise great caution while choosing a bank. But don’t worry, the process is quite simple if you can get the answers to some important questions. It will surely help you in selecting a bank with good … Continue reading Important Queries Before Opening a Bank Account
Your banking expenditures are increasing everyday. You need to cut banking costs. While most people use a bank account to save money, some of your hard earned money is usually taken by the bank in the form of monthly fee or maintenance charges. Here is some advice and tips on reducing the fees you are … Continue reading How to Cut Banking Fees
How many drawers did you have to look through to find a bank statement the last time you needed one? Chances are you did not lay your hands on it as readily as you would have liked. If that is a familiar scenario in your home, help has arrived in the form of online banking. … Continue reading The Benefits of Banking Online
Finding the right bank account seems to be very difficult. Many people have several checking and savings accounts running simultaneously with no actual benefit. It would be better than have one efficient checking account and one efficient savings account running and then you don’t have to worry anymore about your day-to-day banking. There are two … Continue reading Finding the Right Bank Account — Evaluating Alternatives
© Copyright 2002-2022 Money Instructor. All Rights Reserved.
