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What else can I help you with?
One advantage of a savings account?
you wont spend as much money
As a beneficiary on a savings account can you deposit money in that account?
Generally yes but remember that you are putting the money into THEIR account and they can spend the money that you deposited for any reason and you have no recourse because it is THEIR money.
How are money market savings accounts different from regular savings accounts?
A money market savings account is a special kind of savings account. Money market account holders receive more money on their return. Money markets are secure.
Can I borrow money from my health savings account?
No, you cannot borrow money from your health savings account.
What is the purpose of a Christmas club savings account?
Christmas club savings accounts have advantages. One deposits money in it in order to save money for the holidays. Usually, one cannot withdraw money from the account until the beginning of the holiday season. This is to protect the money and make sure one does not spend it.
One advantage of a savings account?
you wont spend as much money
Why is a checking account more convenient is savings account?
It's easier to spend the money in a checking account.
As a beneficiary on a savings account can you deposit money in that account?
Generally yes but remember that you are putting the money into THEIR account and they can spend the money that you deposited for any reason and you have no recourse because it is THEIR money.
Would a checking and savings account be a valuable money managing lesson for a teenager?
A checking and savings bank account is a great way to teach a teenager how to spend and save. They will learn how easy it is to save money and how to watch their spending.
What are the benefits of having a savings account instead of a checking account?
You can spend your money without having to withdraw cash first.
How are money market savings accounts different from regular savings accounts?
A money market savings account is a special kind of savings account. Money market account holders receive more money on their return. Money markets are secure.
Why open an savings account?
A savings account is a good place to keep money safe for future needs.
Can I borrow money from my health savings account?
No, you cannot borrow money from your health savings account.
What does savings account mean?
Generally a savings account pays interest, and a checking (current) account doesn't. Also, a savings account cannot be overdrawn, but with permission, it is possible to overdraw a checking (current) account. The previous person is correct, a savings account simply lets you save your money and make a little bit at the same time. With a savings account it is a little harder to spend it since they are not typically tied to a checkbook.
What is the purpose of a Christmas club savings account?
Christmas club savings accounts have advantages. One deposits money in it in order to save money for the holidays. Usually, one cannot withdraw money from the account until the beginning of the holiday season. This is to protect the money and make sure one does not spend it.
Can overdraft be possible in savings account?
Technically no. Usually overdraft refers to checks written from an account where there are insufficient funds. Checks, meanwhile, cannot be written from savings accounts due to certain federal restrictions. In fact, savings accounts are limited to six outbound transfers a year...
How can a savings account help in money saving?
A savings account is a very good account to open up if an individual would like to start saving money. It allows extra saved money to be transferred from the checking account to the savings account.
