22 Jul
Posted by: mark in: money, "saving money", banking, Saving, Family, Reviews, Goals, debt, Credit Cards
I want to preface this by saying that I am in the banking industry, I work for a credit union, and have also worked for a bank. With that out of the way, this series will be about different products banks and credit unions offer, the advantages and disadvantages of those particular products, and what to look for when finding the right ones for you.
We will discuss the basics of each product, when a good time to have a product is, and how to find the right institution for your money. These will include:
Questions about these accounts are encouraged. Also, please post what you know about these different topic areas, so I can get an idea of how much detail I can go into.
2 Responses
David Robarts
22|Jul|2007 1In addition to ‘brick and mortar’ institutions, many online banks offer very competitive products (and many physical banks offer online specials). One of the features I like most about the online bank I use is that the bill pay feature of their checking account allows both account holders to see and edit all future transactions, so my wife and I can maintain separate logins but access the same information about the account. The big disadvantage of online banking is that it is harder to get money into them initially. Most of the time you’ll still want to have a checking account with branches that are convenient to you.
mark
26|Jul|2007 2Personally I’m not comfortable with online banks holding large sums of my money, but some people I know swear by their higher rates, and that I can see as being a good thing.
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