answersLogoWhite

0

Deposit jumping refers to the practice where individuals or entities rapidly switch their funds between different banks or financial institutions to take advantage of higher interest rates or promotional offers on deposits. This strategy can help maximize returns on savings, but it may also involve risks such as potential penalties for early withdrawals or the instability of promotional rates. Additionally, it can complicate Personal Finance management and may draw scrutiny from financial regulators.

User Avatar

AnswerBot

1mo ago

What else can I help you with?