There are 988 savings accounts, money market accounts, and CDs that may meet your needs for an FDIC-insured savings vehicle. If you need an account to deposit and withdraw money at will, then you’ll want to focus on regular savings accounts and money market accounts. On the other hand, if you are comfortable sacrificing liquidity to earn a higher yield on interest, a certificate of deposit (CD) might be your best bet. Our tool makes it easy to more
compare interest rates for all your options. Remember that all savings accounts limit the number of phone and computer withdrawals you can make per month. A checking account is a better fit for paying bills and managing monthly expenditures. Want to learn more about savings account options? We have useful tips in the Expert’s Answers section below. less
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By: Odysseas Papadimitriou, WalletHub CEO
When it comes to saving, traditional bank savings accounts are about as plain-vanilla as it gets. But for many people, vanilla is the perfect flavor. Savings accounts are one of the safest places you can put your money. That’s because bank deposit accounts are federally insured by the Federal Deposit Insurance Corporation (FDIC), and credit union deposit accounts are insured by the National Credit Union Administration (NCUA). In other words, if your bank or credit union fails, you can count on getting your money back, up to a limit of $250,000 per depositor, per institution. There are a few exceptions to this rule, so if you don’t see the FDIC or NCUA logo displayed anywhere on a bank’s website or at a branch, ask about it. And if you already have $250,000 deposited at a particular bank, you’ll want to find a different bank to open a new account.
Are there other savings vehicles that are just as safe? Sure. CDs and money market accounts are also insured bank products. U.S. treasury notes, bills, and bonds are not insured, but they are backed by the “full faith and credit” of the U.S. government, and are considered risk-free from a credit perspective.
But what about liquidity? Savings accounts allow you to withdraw as much of your money as you want, pretty much whenever you want, without having to wait for the account to reach maturity. This type of liquidity is critical for people who wish to use their account as an emergency fund to pay for surprise expenses, or who are preparing for a large purchase but do not know exactly when it will occur. One caveat: savings accounts are restricted to no more than six withdrawals per month. That restriction is imposed by the Federal Reserve Board, so it will not vary from institution to institution. If you go over that limit, the bank will charge a penalty. If you go over that limit repeatedly, your account could be shut down.
Savings accounts also offer plenty of flexibility. In general, you should expect that higher interest rates will be offered for accounts with higher minimum balances, and that dipping below a minimum balance will incur a fee. That said, it’s not difficult to find a savings account with no minimum balance and no monthly fees. This flexibility makes savings accounts appropriate for a wide range of different needs, from parking large sums of cash for an indeterminate period of time to starting a nest egg with just a few dollars. A no-fee, no-minimum savings account is a popular tool for teaching children to save, because no kid wants to see bank fees chewing up his allowance. If you shop around, you’ll also be able to find savings accounts that offer ATM cards, checks, and rewards programs. And of course, online service is a given.
Then again, not everyone wants all the frills. In an increasingly complex world, many people want to keep their finances as simple as possible. Savings accounts offer a simplicity that’s hard to find in other places. You go to a bank, you open an account, you put in your money, you let it grow—albeit at a snail’s pace, and you take it out when you need it.
Savings Account Interest Rates: Why Are They So Low?
By: Odysseas Papadimitriou, WalletHub CEO
Yes, savings account interest rates are low. In fact those rates are low in three distinct ways. They’re lower than the return on other investments, they’re lower than the interest rates charged by lenders, and they’re even lower than the interest rates on the savings accounts of years past. Why is that?
The risk/reward ratio: It helps to think of an interest-bearing bank account as a type of investment. And one of the basic rules of investment is that the higher the risk, the greater the potential reward. Because savings accounts are essentially risk-free, the interest rate (i.e. the return on investment), is always going to be lower than what riskier investments—such as stocks and real estate—have the potential to offer.
Interest margins: As a rule, the interest charged by lenders will be higher than the interest paid to depositors. Banks are in the business of making money, after all, and one of the ways they do that is by charging more for the money they lend than what they pay for the money they borrow.Credit unions are not-for-profit organizations, so in general, they pay higher rates of interest to depositors and charge lower rates of interest on their loans. Even so, they need to maintain their interest margins at a certain level in order to stay in operation.
Intervention by the Federal Reserve: When the financial crisis that ushered in the Great Recession began in 2007, the Federal Reserve responded by lowering short-term interest rates to almost zero and by taking steps to reduce long-term interest rates. The underlying idea is that when interest rates are low, it’s easier to borrow money to make purchases and investments, and that boosts economic growth. Since then, however, economic growth has been slow and interest rates have stayed at bargain-basement levels. It’s great if you happen to be a borrower, particularly if you’re in a position to take out or re-finance a mortgage. It’s not so great if you are trying to maximize your earnings on an interest-bearing deposit account.
The Federal Reserve reports that before it considers raising interest rates, it will wait for signs that the economy is heating up—indicators such as increases in employment and inflation levels. In the meantime, savings account holders should get comfortable with those tiny yields.
How Can You Get the Most from Your Savings Account?
By: Odysseas Papadimitriou, WalletHub CEO
Whether interest rates are high or low, it always makes sense to take a close look at what different accounts are offering before you make a choice. But what questions should you be asking? Here are a few ideas.
What are the online-only accounts offering? The common wisdom is that when banks are able to take on new business without having to build and staff new branches, they pass the savings along to the customer in the form of higher yields. And indeed, a perusal of the best rates out there will often include a large proportion of online-only accounts. If you haven’t yet looked into online-only banking, now would be a good time.
Will introductory rates provide a real advantage? Plenty of banks are trolling for new business, and some of them are offering introductory rates on their savings accounts. These special rates may be substantially higher than what you can find elsewhere, but they only last for a fixed period of time—a few months perhaps—before dropping to a less favorable level.The post-introductory interest rate may be much lower than the regular rate offered by other banks. You’ll need to do some calculations to make sure that you can really come out ahead by opening an account with a special introductory rate.
What banks are offering cash rewards? Do they pass the sniff-test? Some banks want your business so badly they’re willing to pay you cash for it. Let’s say you open a savings account with $100 and you’re immediately given a $50 cash reward. That represents a 50% rate of return before the interest clock even begins ticking. Who wouldn’t want that?These offers are tempting, but keep in mind that banks aren’t stupid. Maybe they’re gambling on the chance that once you’re in the door, you’ll bring them more lucrative business in the form of home loans and credit cards. There’s nothing wrong with that. On the other hand, maybe the account is structured to nickel-and-dime you with fees and penalties until the bank gets its $50 back, and then some. Or maybe the interest rate is so low that you’ll lose in the long run. Read the fine print, take a look at how you plan to use the account, and then decide if the cash reward will work to your advantage.
Can you use your savings account as overdraft protection?
By: Odysseas Papadimitriou, WalletHub CEO
With the widespread use of debit cards, ATMs, and automated payment systems, it has never been easier to lose track of your balance and overdraw your checking account. In the old days, if you didn’t have enough money in your account to cover your check, it would “bounce”—that is, it would be returned for insufficient funds. That would result in major embarrassment and penalty fees from both your bank and the recipient of the bad check (e.g., a landlord, a merchant, etc.).
Today, though, most banks are happy to provide overdraft protection by covering your insufficient funds for a fee, often in the range of $30 to $35 per overdraft. That can really add up. As an alternative, many banks will allow you to link your savings account to your checking account so that if your checking account runs out of money, additional funds can be drawn from your savings account. This added cushion might end up saving you more money than an extra interest rate point or two.
April 16, 2016
The best savings account for yield and service with added convenience of getting a paper statement are Ally and Synchrony banks. GE capital and Barclays are good too but they do not allow accounts under the ownership of a living trust.
I think my savings account at TD Bank is a great financial move. The account does not have a monthly fee and with it I get some great service. One of my favorite benefits of the savings account is free Visa gift cards issued by the bank. Whether I want to give them as a gift, the bank throws in a classy dark green gift box and ribbon all year round, or to move my own cash or make a purchase I do not want to link back to my account, these cards are great. The staff is efficient and quick. the branch hours are easy.…read more
Overall I have had a very positive experience with my SPELC Federal Credit Union Savings Account. Staff has always been friendly and helpful, and I have had the account since I was a child. The savings account which I use has always been secure, received a reasonable dividend (not a set interest rate), and tax documents for the account have always arrived promptly; the account has a minimum of $25 to remain active. One issue arose in the last year--due to a lack of activity, it was marked as possibly defunct, though this was quickly rectified with a single form which the credit union sent to me. I have had my savings account for over 10 years now! I have had issues with Bank of America savings account.Their checking account is a different story but overall the savings account is not very good. I signed up when I was a child,so I had a Zero minimum for money remaining in the account. Which turned out to be great for a young adult who is struggling financially.…read more
I have a savings account with CEFCU (which I love) for about 5 years now. They have made it incredibly easy to use, and I only have to keep $5 in it to keep it open. There is no fee for keeping a savings account at CEFCU, and it is made even easier by online banking. I can transfer back and forth from my savings and checking accounts, and I can access my savings account at several ATM's in the area. Overall, I have no complaints about my CEFCU savings account, and I plan to keep it and my checking account with them indefinitely.…read more
I have a savings account with Wells Fargo which I am about to close. When I opened the account, they never mentioned to me any fees that would be associated with it. Apparently, they have been charging me a monthly fee of $5.00 every month! When I called to ask about the fees being taken from my savings account, the customer service rep didn't seem to care about my business or my concern. She simply stated that this was bank policy and I was aware of it when I opened my account. Not a bank I would recommend at all for a savings account.…read more
I had a savings account with Wells Fargo and it was ok. There was nothing special with their savings account then any other bank. Their customer service it what really sets them apart with my experience as a customer. I still did ended up switching to SECU only because they offered a better rate the Wells Fargo. The only thing I do miss is the one on one contact you get a when you are a . SECU has everyone behind walls and you talk to a screen for the one I go to, Its just not the same experience.…read more
I have had a saving account with TD bank for about 4 years.I really do love the service and fees are very very low.I can deposit directly or transfer from checking online into my savings account. I live in a very rural area and TD bank is the only bank that offers cheap savings.The only thing that I don't like that I didn't know about was the price of savings withdrawls.You are charged $9.00 per savings account withdrawl.Even if you use a atm or inside the bank they charge 9 bux.I understand it's not a checking account,but 9 bux seems a little steep.…read more
I have a saving account with well Fargo. So far have on problems. My savings account with Wells Fargo and I have had a good experience overall. There is of course the federal limit of 6 transfers per month on a savings account but I never get anywhere close to that. The accounts are linked together and when I deposit money, I can split the deposit between accounts. It has been great to have the flexibility to move money around as needed. There is a $10 monthly fee, however if I use my debit card for 10 purchases each month, the fee is waived. Instead of giving the $10 fee to the bank, it is deposited into my savings…read more
I have a savings account with Merrimack Valley Federal Credit Union. The interest rate isn't the highest I've seen (0.400%), but the service is excellent. Every friend I know who uses a major bank has had many issues with their account and/or unexpected fees, and I never have any problems with Merrimack Valley. My mother opened my saving account when I was very young, and I've never had any reason to switch. They do have a limit on the number of transfers from your savings account (which I guess is supposed to encourage you to save), but I never have any issues because all the money I put into my savings stays there unless I have a true emergency. I would definitely recommend Merrimack Valley.…read more
I have my saving account with Regions. So far I haven't had any issues. I do get a small percentage in my account at the end of the year but its not really much to get excited about . I basically just put money in the account and that's it but I am considering opening an account TD bank, me and my husband really like how they are open 7days a week!! I wish all banks would do that!…read more
My savings account is with Wells Fargo and I have had a good experience overall. I have been with Wells Fargo since they took over Wachovia and my Wachovia account converted to Wells Fargo. The interest rate isn't amazing with them but I have always received excellent customer service and you get some nice options for customizing your cards. There is of course the federal limit of 6 transfers per month on a savings account but I never get anywhere close to that. What's nice about their savings account is if you put a certain amount into your savings account from your checking then you save yourself the $5 a month checking fee. All in all I like the company and I'm fairly happy with the features of their savings account.…read more
My savings account is with Netspend Corp. It's actually a prepaid debit card, but when you deposit a certain amount, Netspend will convert your account to a premiere account. The premiere account comes with a savings account automatically. You can transfer funds from the debit card to the savings account as often as you like with the computer or your phone and you are limited to 6 transfers from the savings account back to the debit card per month. So, accessing your savings funds is relatively easy. Here's the best part of it though. The APY is a very attractive 5.00% for balances of $5,000.00 or less. That yield is at least five times higher than the average savings account yield in the United States. And, the funds are FDIC insured. Plus, you get all of the features that the Netspend debit card has to offer.…read more
My savings account is with Chase. I chose Chase for a couple of reasons; 1- because I've had a experience with them managing my checking account, and 2 - the minimum daily balance to void monthly fees in their savings account was lower than 3 other banks I considered (the other banks also required a direct deposit in order to avoid monthly fees, which I don't have for my savings). I don't think it even pays 1% but my primary concern is to avoid fees. I always avoid fees because the reason for opening the account - TO SAVE!. Chase has excellent customer service. I've been with them for several years and have never had a negative issue with them.…read more
My savings account is with ESL Federal Credit Union. I have no complaints about ESL or my savings account, I have always had good experiences with ESL. I'm not sure about other banks' offers, but I receive a quarterly dividend reward of about .01 % on my savings. I wish it were more! But im not sure if other banks give dividend rewards, so I'm not sure if I can complain. Overall I would say I am content with my ESL savings account.…read more
I opened a savings account about three months ago and so far it has been great. I obtained it through Chase and use it as overdraft protection for the checking account I have simultaneously with them. It gains a very small percentage but I'm still torn at the fees for maintainence. Whatever you do, do not go to an out of network ATM, You will be charged twice and no explanation exists.
I recently opened a checking account with Wells Fargo and was pleased to see that it came with a savings account. The accounts are linked together and when I deposit money, I can split the deposit between accounts. There is a $10 monthly fee, however if I use my debit card for 10 purchases each month, the fee is waived. Instead of giving the $10 fee to the bank, it is deposited into my savings account. That is an added bonus, because I unintentionally add money to my savings. I am very pleased with service that Wells Fargo offers to its account holders.…read more
I have a savings account with Wells Fargo Bank, I like that I am able to link both my checking and savings together for a much easier online banking process. There is a fee, but it is waived when you set up an automatic monthly deposit (which helps boost your savings...no problem there!!). I have never had a problem with my service, and plan on staying a WF customer for quite a while.
I have a savings accounts with WSECU. I like that I have the option to link it to my checking account to pull if I run low, or disable if i am actually trying to save money. Additionally with my online banking I can create as many sub savings as I'd like which allows me to set up separate piggy banks for different savings goals. The interest rates aren't great, the yield is .11 and the rate is .10 but I'm not keeping my money in savings to get rich so I understand.…read more
I have a Savings Account with Woodforest. I had a Savings Account with Wells Fargo but anytime I put money in the account, they would automatically draw it out and put it into my checking account. I wasn't able to save any money and after they charged me the monthly service fees every month, my checking and savings was depleted, even after I stopped using the account. Woodforest has never given me any issues like Wells Fargo has.…read more
I have a savings account with Wells Fargo. It is connected with my college checking account, I have had this account since I started college and am very happy with it. I have never had any problems with either account, although Wells Fargo only allows a certain amount of transfers between accounts per month. I think, but am not certain, the limit is six transfers per month, anything more than that you will be charged a fee.…read more
Overall the search tool is very good. The tool is easy to use and very intuitive. It had the accounts that I was looking for and the filter let me customize my options. The only criticism that I have is that the banks filter should have more options so the search can be refined even further.
I have a Wells Fargo savings account and I have generally been treated pretty well. One issue I have is that they're pretty strict on transferring money between accounts. At first I was doing it a couple of times a week, then they sent me a message warning me that I'd better slow down or I would risk being charged. Not the greatest customer service message.
I have a Chase savings account and overall, I love it. My one gripe is the transfer limit. I'm limited to 6 transfers a month between my savings and checking. I'm just starting to save and sometimes I'm a little bit too optimistic on how much I can afford to put away, so I have to do transfers back and forth. Other than that, it's a great account and I'd recommend it.
My savings account has been great for years. However, when a major grocery store security breach happened, my bank sent me a new debit card. They set it up to my savings account as a primary method of withdrawal, and I racked up over $200 in fees in the time it took for me to see that nothing was posting to the checking account (3 days). Thankfully the bank refunded the fees and now I'm back to saving up for a rainy day!…read more
I had a savings account with Rolla Federal Credit Union. It's a local Missouri branch, but it's part of the much bigger Co-OP network. I absolutely loved banking with RFCU because the people were generally very understanding and easy to talk to. I was able to earn a reasonable interest on my savings account because it posted quarterly interest instead of yearly. I decided to go with RFCU in the first place because I had a terrible experience with big name banks and credit unions, in particular, give really personalized service and seem to genuinely care about your interests above their own. RFCU was no different, and they offered personalized loan terms on a car loan when my situation wasn't exactly the greatest. Because I was able to call them up and re-finance the loan over the phone with the loan officer I had before, RFCU wins in my book for being so customer-friendly.…read more
I had an account at Wells Fargo for a couple years, nut they had this annoying habit of charging fees if you didn't have enough activity in the account. Then I wanted to withdraw $100 for an excursion over the weekend, and for some reason the computers were down, so no funds. Well I guess that kind of tore it. I was pretty aggravated to say the least. So I found this little credit union called Affinity Plus Credit Union. I opened a savings account there with only $10. They have been really great ever since. It is a small place, but they know me pretty well and I have never had any problems with them,…read more
My savings account has been through fifth third for over the past 6 years. When I opened my account, I decided to go with the goal setter savings account so I would save some money and earn more interest. Fifth third gives out a bonus interest for this savings account once an established goal has been met. While I like this aspect of the account I did find it a bit of annoyance to have to close the account and open a new one in order to set a new goal and gain the bonus interest again. I also do not like that I have to physically go into the bank in order to withdraw money from the account (even though this may have helped me save more money). Overall, I like the savings account I have but there are some things about it that are inconvenient.…read more
I have a savings account with All South Federal Credit Union. They have mostly been a great bank. No monthly fees, forgiving transfers from saving to prevent overdraft. However, the most serious problem with my savings account came when I wasnt able to have access to all my money. I initially deposited some $10-20 which I will be unable to withdraw. They seemed to gloss over this during the process of of opening this account. They also were not clear about the fees related to having a savings account including $2.00 for transfers not initiated by the holder.…read more
Up until I added a savings account it was great. My problem started when I received an email saying my account was over drafted. When I signed up for the account, I was not told that I NEEDED to deposit a set amount of money and keep a minimum balance or I would be charged a ridiculous fee. After calling wells fargo, I had to pay the fee for both accounts. Surely enough, After that day I closed my savings account.…read more
i currently have a savings account with both webster bank and bank of america. i have had tons of issues with bank of america as to fees and overdrafts and all sorts of nonsense. one year i ended up paying them over $400.00 for a 12 cent overdraft that i didn't know about because i had left for vacation. webster on the other hand has been great. I've had the account for 3 years and never overdrew it. They don't charge me for transfers or to maintain a limit. the account was safe and i even added my fiance to my accounts for joint accounts. he got a card and it made direct deposit and paying our bills so much easier.…read more
I have a savings account with Capital One 360. I originally had an ING savings account and was drawn to it for its 3.5% APR. ING bought Capital One direct and my savings was automatically transferred to them. This was definitely a disappointment as I get almost no interest on the account. I feel that the account is overall safe and not a bad option if you are just looking for a basic account to keep "hands off" money. The money is actually quite difficult to get out of the account as you first have to request the transfer online and then wait three to four business days to have the money deposited into your checking. I would imagine withdrawing the money and getting it in the form of a paper check would take much longer. I really don't see the point of the transfer taking so long in this day and age. Also the log on process is irritating as it requires a customer number and an 8 digit pin which they would not let me change.…read more
After a bunch of research I finally settled with citibank. What a disaster with my Savings account. It's such a huge process to transfer your funds with no hassle. Then the fees for transfers..I mean for a bank who should accumulate fees for transferring from savings to checking and vice versa. Overall It's a good bank though.
After my divorce I was learning how to budget save and get my financial life sorted. I opened a checking account with Wells Fargo. They were so helpful and at the same time suggested that I start a savings account as well as one for my daughter. They make it so easy to transfer between accounts. Also to my daughter's account with which I was able to teach her the importance of saving. There are limits which are placed to help you save. I think it's brilliant though.…read more
When I was in high school I came across a lot of money due to my dad getting social security. After talking with my parents we agreed to put it all into a saving account and CD at Wells Fargo. They were very helpful to explain how I could use this money for college and we set up an account that would allow me to get money out to pay for college. This account was great and earned me a little bit of extra money.…read more
I have had my savings account for over 10 years now! I have had no issues with Bank of America savings account.Their checking account is a different story but overall the savings account is great. I signed up when I was a child,so I had a Zero minimum for money remaining in the account. Which turned out to be great for a young adult who is struggling financially.I have no reason to switch :)
Overall I have had a very positive experience with my SPELC Federal Credit Union Savings Account. Staff has always been friendly and helpful, and I have had the account since I was a child. The savings account which I use has always been secure, received a reasonable dividend (not a set interest rate), and tax documents for the account have always arrived promptly; the account has a minimum of $25 to remain active. One issue arose in the last year--due to a lack of activity, it was marked as possibly defunct, though this was quickly rectified with a single form which the credit union sent to me.…read more
Hello, I am writing a review on "Nationwide Bank Money Market Account ". I currently own and have money in this account. The best thing about this savings account is that it has an above national rate of interest that is paid out. The interest rate is about " 0.71% " APR. That is above what most banks offer, which is around 0.01%. The interest rate can go up or down, depending on the market. Nationwide's APR tends to be consistent, and does not fluctuate. The biggest problem I have with Nationwide's savings account is that they do not offer an ATM card. Basically, you can not instantly withdraw money. You would have to wire the money to your checking account and then take it out. When depositing money, you have to wire or do a bank transfer into the account, which can take a few days. This savings account from Nationwide is best for people that have extra money sitting around and want to make a few dollars in interest. If you have an emergency or something comes up, you do not want to go to this account. It is more of an electronic online savings account, as there are no brick and mortar, or physical locations that you can go to to instantly deposit and take out money.…read more
Hi, I want to tell you that for years I did not have a savings account because I have always lived from hand-to-mouth on a shoestring budget, but I have been learning that that is a state of mind. I put $50 in a IRA just for “fun” and when I needed cash immediately, I could not touch it. This helped me realize I could save and live through the lean times without that $50. Then I found an Ally savings account that paid a little more daily interest and provided some other freebie services which I needed, such as, overdraft protection. I’m not rich yet, but better off.…read more
I have a savings account with Chase. However, when I first opened my savings account, it was with Washington Mutual Bank. It was a basic savings account with no fees as long as I transferred $25 each month from my checking account. A few years later, Washington Mutual went under and Chase bought them out... and then the changes came. I still had to transfer $25 a month from checking, but I also am now not allowed to make more than five transfers out of my savings account per month. If I do, I get charged for it. Of course, Chase certainly didn't inform me of such a fee until after I had incurred it. When the teller told me about this, he made it sound like this wasn't the first time he had to tell someone about this policy change. Ever since Chase took over, I don't feel my money is MY money anymore, and I certainly don't keep my savings in there anymore. I only hold the account open for an emergency, and I do my saving elsewhere.…read more
I have two savings accounts with Logix Federal Credit Union . The first is my primary the second I use to filter and save a portion of money I need for bills. It comes in handy when I need to transfer funds to my checking and organize my thoughts. Monthly we are allotted 7 transfers from each account. If we exceed that amount then we have to go to the branch and make the transfers in person or by using the ATM. I wish they would just have unlimited transfers it is my money after all but oh well, I generally do not exceed that amount anyways. I think they require that you have a minimum of $5 at all times in the primary savings and there is no minimum in the additional savings. All in all I am happy with my Savings account at Logix Credit union…read more
I have my primary savings account with Wells Fargo Bank. One of the features I really liked about this account is that it provided overdraft protection for my checking (in the unlikely event I would need it). I am also allotted 6 or 7 free money transfers between any of my accounts, which I need when running a small business. It has been great to have the flexibility to move money around as needed. Also, I have opened a second account so that I can keep certain funds separate. The whole process of opening the second account took maybe 15 minutes and it was free!…read more
I have two savings accounts with Randolph Brooks Federal Credit Union. My primary savings account had to have five dollars in order to open it and must be in there at all times. I also have an alternate savings account called a Money Market account. It is just like a regular savings account, but the interest rate is accumulated monthly instead of quarterly. On a side note, you must have a total of 2,500 to open it. This money is untouchable unless I decide to close the money market, which doesn't charge me to open or close it at any time. The main problem I have with these savings accounts is that I earn a low interest off of them. The benefits are that I'm not charged a monthly fee, but I don't earn much from them either. The savings account earns only .2 percent quarterly, while my money market earns .3 percent monthly. It isn't too bad, but it'd be awesome if I could earn more. I still love my credit union and it hasn't offered many problems besides that!…read more
When I opened up a savings account, one of the main things I was looking for was cheap (or free) money transfers between checking and savings. As a college student when I opened my account (and a recent college graduate as of now), transferring money was very important. I am hoping within the next year what goes into my savings account gets to actually stay there for a long period of time! Opening a savings account is a very important thing to do because it teaches one how to be responsible with money and save for something down the road!…read more