Archive for the ‘Bank Accounts’ Category

Debit Cards

What Is A Debit Card? Debit cards are less common than credit cards, but?an increasing number of banks and savings institutions offer them now. You can use debit cards like credit cards in making purchases. However, unlike credit cards, which bill you later for the amount you have been charged, debit cards transfer your money […]

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Super-NOW Bank Accounts

Super Negotiable Order of Withdrawal Accounts Scarcely had the federal government authorized banks to offer money market savings accounts than it also granted them permission to introduce checking accounts that pay money market interest rates — accounts known as “Super-NOW’s.” Depending on the policy of the individual bank, Super-NOW accounts may offer all of the features […]

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Money Market Account Features

Features of Money Market Accounts Like other bank services, money market savings accounts are subject to government regulations, Individual banks, however, may offer special inducements within prescribed limits. Here is a summary of the main features offered by a typical money market account: Minimum investment. To open and maintain a money market savings account, a […]

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Money Market Accounts

Bank Money Market Accounts As part of the continuing deregulation of banks to allow them to compete more successfully with other financial institutions, federal authorities in late 1982 authorized them to offer money market rates to their customers. This has brought banks into direct competition with private brokerage houses, for whom these funds have been […]

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Reinvesting a CD

Reinvesting a Certificate of Deposit During the life of a certificate of deposit you should discuss with an officer of your bank what you want done with the funds in the account at maturity. If you fail to make provision for taking the cash or reinvesting it, depending on bank policy and the law in […]

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Fluctuating-Rate CD’s

Certificates of Deposit with Fluctuating Rates Many banks offer special certificates of deposit that pay variable rates of interest. Depending on the bank, they may be called “Premium Rate Certificates” or “Investment Accounts,” or some similar name. Like ordinary CD’s, they are sold for specific lengths of time and interest penalties are exacted for early […]

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Certificates of Deposit

There are many types of certificates of deposit (CD’s), but all share a common characteristic: the money deposited must remain in the account for a specified time, with severe penalties for early withdrawal. On most CD’s the interest remains the same throughout the life of the certificate. By and large, the longer the life of […]

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Investment Accounts

Investment Bank Accounts In the luxurious world of investments, quite often we hear advises what securities to invest in, but not as often we get advises concerning the types of accounts we should open to start investing. There is a lot of different types of investment accounts, each covering a specific purpose, and new types of accounts are being created to […]

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NOW Accounts

Negotiable Order of Withdrawal Checking Accounts Some years ago, federal regulations were significantly eased to permit banks to pay interest on checking accounts. Both savings and commercial banks offer a variety of NOW (Negotiable Order of Withdrawal) checking accounts, all of which have two things in common. Each pays interest on the funds that are […]

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Special Checking Accounts

Special Checking Accounts Unlike regular checking accounts these are sometimes called “economy” or “budget” accounts. They require no minimum balance, but the depositor is charged either a fee for each check issued or a monthly maintenance fee, or, in sortie cases, both. This kind of account makes sense for someone who writes few checks or […]

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