accounts

Low Interest Savings Accounts and CDs Are Still a Good Idea

By Gertrude Aziz 4 days ago

By Spencer Tierney

Today’s best rates for savings accounts and certificates of deposit are a far cry from last year’s rates of 2%. And rates across most banks will likely keep dropping.

“It will be increasingly uncommon to find institutions that are willing to pay 1%” on a savings account, says Mike Schenk, chief economist for the Credit Union National Association.

The reasons are many — the Federal Reserve dropped its benchmark rate in March, the pandemic-related economic crisis continues — but rates aren’t the only strength of savings accounts and CDs. Here’s how else they help you save.

Savings Accounts Provide Cash Access and Tools

Taking a savings account for granted is easy to do; they’ve been around a long time, and most Americans have one. But it bears noting how savings accounts can help our financial lives:

  • Easy access to funds: Unlike with brokerage accounts, you don’t sell
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Make sure to update passwords for online accounts frequently

By Gertrude Aziz 1 week ago

GREEN BAY, Wis. (WBAY) – Society as a whole in online more than we have ever been, and hackers and scammers could see this as an open door.

The President and CEO of the National identity Theft Resource Center says anyone with an online account should make every attempt to keep their personal information safe, and that starts with passwords.

“Number one on my list – please strengthen your passwords and use unique passwords, there’s no silver bullet, no panacea that fixes everything, but using unique passwords and not overusing the same password and also changing them at a frequency level that’s appropriate for you,” said Eva Velasquez, the President and CEO of the Identity Theft Resource Center. “Experts may vary on is it every 30 days, 90 days, is it every year, but if you haven’t changed your password, especially for something like a financial account or your e-mail,

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Accounts Payable Automation Market Growing at a CAGR 11.0% | Key Player SAP Ariba, Sage, Tipalti, FreshBooks, FIS

By Gertrude Aziz 2 weeks ago

The MarketWatch News Department was not involved in the creation of this content.

Oct 07, 2020 (AB Digital via COMTEX) —
The global Accounts Payable (AP) Automation Market size is expected to grow from USD 1.9 billion in 2019 to USD 3.1 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 11.0% during the forecast period. An increasing need for efficient AP process to reduce the invoice processing time across industries is expected to drive the growth of AP automation market across the globe. Furthermore, the AP automation solution empowers organizations to make automatic payment approvals, on-time payment, prevent duplicate payment, and frauds. These benefits drive the adoption of AP automation solutions across industries globally.

Solutions segment to hold the highest market share during the forecast period

Manual entries for AP processes are expensive, error-prone, and highly inefficient. The AP solution automates payment processes and enables enterprises to

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Do cash management accounts keep my money safe?

By Gertrude Aziz 3 weeks ago

Cash management accounts are accounts offered by nonbank financial service providers that allow people to save and spend their cash. CMAs are usually found at brokerages, not chartered banks, which can raise a few questions. For example, the fact that these providers can’t directly cover your funds with federal insurance might make you wary. Or you may have concerns about account security in general.

But here’s why you shouldn’t worry about the safety of your money if you put it in a cash management account.

How does FDIC insurance work with cash management accounts?

Insurance from the Federal Deposit Insurance Corp. is provided by partner banks. When a customer puts money into a cash management account, the CMA provider sweeps the funds to a partner bank behind the scenes so that the money is insured. CMAs usually can’t provide FDIC insurance themselves because they aren’t offered by chartered banks. FDIC

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Common Misconceptions About High-Yield Savings Accounts

By Gertrude Aziz 3 weeks ago

By Spencer Tierney

Last year’s savings rates of 2% and higher have come and gone, but that doesn’t mean high-yield savings accounts disappeared.

“There are high-yield savings accounts out there, but it’s all relative,” says Mike Schenk, chief economist for the Credit Union National Association.

When the Federal Reserve cut its benchmark rate to nearly zero in March, many banks and credit unions took their cue to lower rates on savings accounts. This affected online high-yield accounts more drastically than others. And it’s unclear when to expect rates to rise as the pandemic and related economic uncertainty continue.

If you’re thinking about getting a high-yield savings account or ditching the one you have, don’t fall for these misconceptions.

Myth 1: A High-Yield Savings Account has the Same Rate Over Time

Not true, which can be good and bad. Savings accounts have variable rates that are subject to change, so an

… Read More

Pros and cons of high-yield savings accounts

By Gertrude Aziz 3 weeks ago

article

Yes, interest rates are low right now. That doesn’t mean there aren’t good deals to be had with high yield savings accounts. (iStock)

While interest rates may be at historic lows, there’s still some appeal in stashing some hard-earned cash in a high-yield savings account so you can reach your financial goals quicker.

That said, there are some potential risks in doing so, too. Job one for any savings-minded financial consumer is to understand what high-yield savings accounts are — and how they work.

What is a high-yield savings account?

“A high-yield bank account is any bank account which pays you substantive interest on your account balance,” said Connor Brown, founder of the After School Finance web site. “Currently, the national average interest rate on savings accounts is 0.06% according to the FDIC.”

You can find savings accounts that pay 0.80% or more. “While this isn’t much (and rates

… Read More

How Cash Management Accounts Protect Your Money

By Gertrude Aziz 4 weeks ago

TipRanks

3 “Strong Buy” Stocks That Are Flirting With a Bottom

In the investing game, it’s not only about what you buy; it’s about when you buy it. One of the most common pieces of advice thrown around the Street, “buy low” is touted as a tried-and-true tactic.Sure, the strategy seems simple. Stock prices naturally fluctuate on the basis of several factors like earnings results and the macro environment, amongst others, with investors trying to time the market and determine when stocks have hit a bottom. In practice, however, executing on this strategy is no easy task.On top of this, given the volatility that has ruled the markets over the last few weeks, how are investors supposed to gauge when a name is flirting with a bottom? That’s where the Wall Street pros come in.These expert stock pickers have identified three compelling tickers whose current share prices land close to

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5 Myths About High-Yield Savings Accounts During COVID-19

By Gertrude Aziz 4 weeks ago

Last year’s savings rates of 2% and higher have come and gone, but that doesn’t mean high-yield savings accounts disappeared.

“There are high-yield savings accounts out there, but it’s all relative,” says Mike Schenk, chief economist for the Credit Union National Association.

When the Federal Reserve cut its benchmark rate to nearly zero in March, many banks and credit unions took their cue to lower rates on savings accounts. This affected online high-yield accounts more drastically than others. And it’s unclear when to expect rates to rise as the monthslong pandemic and related economic uncertainty continue.

If you’re thinking about getting a high-yield savings account or ditching the one you have, don’t fall for these misconceptions.

Myth 1: A high-yield savings account has the same rate over time

Not true, which can be good and bad. Savings accounts have variable rates that are subject to change, so an account you

… Read More

7 best bank accounts for uni students for 2020/21

By Gertrude Aziz 1 month ago

PA
PA

New university terms are starting again soon, although many normal student experiences could be different this year because of Covid-19 guidelines.

For many, attending university not only means further education, it also involves negotiating various elements of adult life – perhaps for the first time.

One of these areas is financial independence and taking on the responsibility of managing your own money.

Here we look at the best bank accounts for students and offer tips on what to look out for when managing personal finances.

It's important for students to pick the right bank account (PA)
It’s important for students to pick the right bank account (PA)

What is a student bank account?

A student bank account is just like a normal bank account, but adapted in certain ways – for example, many offer an interest-free overdraft.

You have to prove you’re a student to get hold of one, usually with an offer letter from your university or UCAS –

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14 Mental Health Instagram Accounts You Should Follow ASAP

By Gertrude Aziz 2 months ago

There’s no denying that 2020 has been incredibly distressing for most people. 

Fortunately, there are ways to combat the negative mental health effects many of us are experiencing ― one of which includes social media. Given that we’re arguably spending more time on our phones than ever, why not fill your feed with uplifting content from people about mental health?

There are tons of influencers, artists, therapists and others who play a crucial role in maintaining a sense of community and holding space for everyone to show up as they are, where they are. From guided meditations to affirmations to gorgeous illustrations to remind you things will be OK, these social media personalities will help you improve your overall mental well-being.

So, what are you waiting for? Here are a few people you should check out right now:

Tabitha Brown

Tabitha Brown rose to social media stardom with her soothing

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