MoneyRates Blog
Bankers versus Savers
By Clark Schultz | Money-Rates Columnist
You probably did not see it mentioned in your local newspaper, but the American Bankers Association (ABA) made news last week when in a letter addressed to the FDIC they publicly chastised Ally Bank. The problem? Ally Bank has been offering deposit rates that are too high in comparision to the rest of the banks in the country. That [...]
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Black Swans and Savings Rates
By Clark Schultz | Money-Rates Columnist
Sometimes scientists are confounded. Take the black swans for example. When they were discovered in Western Australia it was considered an impossibility. One day there was no such thing as black swans and the next day there they were. Today the term ”black swans” refers to major unpredicted events. September 11, 2001 is an example. Although the events leading up [...]
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A New Type of Savings Account with Higher Rates
By Clark Schultz | Money-Rates Columnist
How come some of the best ideas arrive at the worst time? Disciplined savings programs, called installment savings accounts, could have saved the day for many Americans who have now lost meaningful savings they had designated for college, a vacation, a wedding, or another family event. Instead, we are just now hearing about these nifty savings programs. [...]
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Deposit Your Tax Refund Directly to Your Savings or Checking Account
By Clark Schultz | Money-Rates Columnist
The IRS gives all taxpayers the option to receive their tax refunds through direct deposit to more than one bank or brokerage account. Form 8888, which can be downloaded from IRS.gov, allows taxpayers to split up their refund and decide which amounts go to which accounts. Eligible account types include:
Bank checking accounts
Bank money market accounts
Bank savings accounts
Brokerage accounts
Mutual [...]
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Linking Your Online Checking Account to Your Online Savings Account
By MoneyRates team | Money-Rates Columnist
Bank make a huge amount of money from their customers who are forgetful and bounce checks. While overdrafts can happen innocently enough there are ways for online banking customers to protect themselves against overdrafts. The different options vary from expensive to cheap:
Overdraft Protection or Bounce-Coverage Plans
Bank that offer this plan will not return your overdrawn [...]
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