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What else can I help you with?
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.
Can a credit card company freeze a checking account of a diabled person?
No creditor can freeze anyone's assets without court authorization--disability or not.
How can a person have a DDA account But no checking account?
i was wondering bout the same thing at first til i asked. it still depends on the company youre working for. i myself dont have a checking account but get my pay as direct deposit. they wire it through my savings account instead.
What does a CD savings account do for me?
A CD savings account might earn money for you. This type of savings account earns interest for the person who purchases the CD.
At what age should a person consider opening a banking account?
You should open a savings account for your child the same day you receive their social security card. You should open a checking account on your 18th birthday.
Can you open a savings account online with tri counties bank?
"Tri Counties Bank offers online banking however, you must physically go to one of their locations in order to open an account. Checking and savings accounts require an initial deposit in order to open the account which has to be done in person."
What are the current savings account rates for Wachovia?
The current savings account rates for Wachovia might change from time to time and may be different from person to person. However that savings account rate can be as high as 3.00%
What is a joint savings account?
A Joint Savings Account is when two people have joint access to the savings account. If a Wife and Husband, Boyfriend and girlfriend, parents and child open a Joint Account then "either" one of them can access ALL the money in the account. If one of them is involved in an illegal activity the Police can freeze the WHOLE account and "can" take ALL the money. It would be up to you to prove the money didn't come from the illegal activity. (Actually they would freeze separate accounts in the same household also) Good and bad parts are you both can access the money as needed, but the other person can "empty" the account with out your say so.
What is the purpose of a savings account?
Opening a bank account is a great idea for any person seeking to save money. By opening up a savings account, one is truly making a financial decision that will benefit him or her for the rest of one's life. Opening up a savings bank account is a great idea because it will force one to set aside money from a paycheck. It is always a good idea to keep money separate from a checking account, rather than keeping all of one's money together in one account. A person may be easily tempted to spend a lot of money, if he or she sees thousands of dollars sitting in a checking account. By setting aside money in a separate account, the temptation to spend it directly will lesson. A person will also be able to gain interest on any money that is put into a savings account. A savings account allows a person to save money and earn money at the same time. With a checking account, a person is usually not able to gain interest on money. A person should also seek to open up a money market account at a bank, if that sort of thing appeals to a person. A person will be able to earn 4% interest usually within a money market account. Many savings accounts offer very low interest rates, due to the state of the financial market and the tough economy. However, money markets have been steadily increasing their interest rates, which means the consumers benefit and are able to build up greater savings. This is truly one of the best ways a person can build up savings in a way that is easy and does not require a large investment of time or even other funds.
Why would you freeze a checking account?
The most common reasons are to keep any fraudulent checks that have been written from being deducted from the balance. Or to keep an unwanted person from accessing the account to withdraw funds.
What is the difference between a trust and a checking account?
a trust account means you trust the person that is opening the account, and a checking account means you will keep checking it to make everything is okay.
What does signatory mean on a checking account?
Signatory means that the person who owns the checking account has signed something linked to the checking account. This could be a document or a check.
