How Do Interest-Bearing Checking Accounts Work?
You know the trusty sidekick every superhero has? The one who does all the work and gets none of the glory? Chances are, that’s how your checking account functions in your personal banking strategy. But what if we told you there’s a way to earn interest without all the transaction limitations that come with savings […]
Explore Your Options: Compare Checking, Savings, and Money Market Accounts
You have a lot of options when it comes to managing your everyday banking needs. And while you likely know a bit about them, a side-by-side comparison of the most common types of accounts may help you choose which ones are best for you. Checking, savings, and money market accounts have some similarities, but their […]
Five Things to Know About Interest Checking Accounts
If you’re like most people, your checking account does the heavy lifting when it comes to everyday banking tasks. It’s the account you use to pay bills and conduct most of your transactions. As long as money’s going in and bills are going out, it’s easy to overlook this essential banking basic. But it may […]
Cash Is King Still
Put aside cash for emergencies and more. It almost always makes sense to keep some cash reserves in a savings account, a certificate of deposit (CD) or a money market account. Not only might this give you the money you need to face an emergency—like an unexpected job loss or medical expenses—but it also may […]
Advantages of Managing Your Checking Account Online
While nearly every bank gives you some form of online access, not all of them can give you the advantages of being an online bank. Online banks generally have higher interest rates than traditional banks, and the reality is, they often provide a better online banking experience because “online” is all they do. With an […]
The Impact of Checking Account Fees
In order to understand how interest-bearing checking really works to your advantage, you need to understand the fees involved. Even fairly modest checking account fees can significantly offset your interest earnings, or wipe them out altogether. "Everyone needs to watch out for fees," explains Andrew J. Feldman, president and founder of A.J. Financial in Chicago. […]
Choosing a Checking Account
Which interest-bearing checking account is right for you? At Ally Bank, we feel that opening a new online checking account should be an easy decision. But as with any financial decision, it's smart to do some homework before you make your final choice. You can start the process of choosing a checking account by asking […]
Solidify Your Financial Strength
A well-balanced financial portfolio should include a mix of savings options across various “asset classes.” This not only allows you to benefit from rising values and be protected against market downturns, but by allocating your savings among different classes, you can substantially reduce the worry that comes with investing in only one type of asset. […]
Interest Checking Is Compatible With Popular Financial Planning Tools
With the wide availability of quality, hi-tech financial planning tools, it can be easy to overlook some fundamentals. For example, even with the best financial planning tools at your disposal, choosing to keep money in an interest checking account may be helpful. “In a comprehensive financial plan, there should be some cash and cash equivalents,” […]
What Are the Differences Between Interest and Non-Interest Checking Accounts?
Interest checking accounts are not new, but they have become more common with the emergence of online banks. Because online banks don't have the overhead of traditional banks, they can pass the savings on to customers in the form of great rates, including interest on checking accounts. The day-to-day function of an interest checking account […]
