bits asked:


We are looking for a saving account which has pretty good rates. and we would also like one where we can attach it too a checking out for overdraft protection. any information would be appriciated!! thanks.

Kali

Peter Kenny asked:


If you think your bank is costing you too much money, then now is the time to look at ways your bank can help you save money rather than spend it. Although there will always be bank charges and fees, there are ways to save money using banks and make the most of their services. Here are some tips about how to cut down on bank costs and save yourself money.

Savings

One way to save yourself money through your bank is to open a savings account. If you have a fair amount of money in your current account, then transferring it to a savings account with a high interest rate is a good idea. Having a savings account does more than just save you money; it earns you money. The interest generated from a savings account means that you are making money from the money that you store. However, you should remember that many banks charge a fee unless if you go below a minimum amount in the account, so keep track of this in order to save yourself money.

ATM charges

Another way that you can save money when banking is to use free ATM machines. Some ATM’s charge you a fee to take money out, either for the convenience of because the ATM does not belong to your bank. If at all possible you should stick to ATM’s that don’t charge you money. If you do this regularly then you could save yourself £100 a year or more.

Overdrafts

Perhaps the most expensive fees that you can get charged by your bank are for using an unauthorised overdraft. Even if you never go into the red, it is advisable to agree an overdraft amount with your bank. This will save you a lot of money in case you do ever go into the red, and it costs you nothing if you don’t use it.

Online banking

Online banking can save you money by helping you to pay bills on time and avoiding late payment fees. It can also help you to manage your money better and so budget more effectively thus reducing your spending. However, some banks will charge you for the privilege of using online banking. You should definitely look for a bank or account that does not charge you for using online banking, as there is no need to pay for basic online banking these days. Although the fees might be minimal, any money saved is good.

Borrowing money

Perhaps the area you can save the most money on is when you borrow money. Make sure that you get the best deal possible on any credit cards or loans you take out, and remove any unnecessary features that are costing you money.

Change banks if you have to

If your bank is still costing you more money than you would like, then don’t be afraid to look elsewhere. There is no reason why you should be loyal to a bank if they don’t serve your needs, and other banks may offer you better rates because you are a new customer. Even if you are currently happy you should look at the competition every few months to make you that sure terms are the best you can get.



Alex

Martin Lukac asked:


We all know that we should save money. But something so easy to say can be quite difficult to actually do.

Saving money is the basis of building your financial future. However, many consumers are putting it off one more day. Those days turn quickly into years of lost money. Without savings, the chances of meeting long-term financial goals and achieving financial security are quite miniscule.

In order to save money, you have to control your finances. Saving has nothing to do with how much you make. It has everything to do with how you control your money. If you have lots of credit card debt and live paycheck to paycheck, you are not in control of your money. And you aren’t saving for the future either.

You have to spend less and save more. The two are tied together. In order to save, you have to start spending less.

And it all really isn’t that difficult if you just start doing it.

First, sit down and write down your financial goals. Just ask yourself what you want from your money. Perhaps you would like to have a downpayment for your first home. Maybe you need a new car. Make long-term goals, such as retirement, and short-term goals, such as new living room furniture.

Give each goal a dollar amount and a time frame. In order to save, you have to know what you are saving for. You have to have a reason to put your money aside.

You will need to set up a seperate savings account. You probably know that leaving the money in your checking simply won’t work — you will spend it. Have a savings account that you can easily deposit or transfer money into. Many banks will set up an automatic withdrawal to your savings each month. This is a easy way to set it and forget it. It is paid just like any other bill.

Over time, you will see your money start to grow. This is rewarding and exciting. Most people become motivated to save even more. Saving and investing can become addicting in a good way.

You will find that a written budget is almost essential for saving money. You need to know where your money is going in order to make changes to the way you spend. A budget not only tells you where you are spending, but it can help you plan how you spend. Include into your budget a debt reduction plan, and your budget will make the most of your dollars. Budgeting is simple and doesn’t require you to sacrifice your entire lifestyle. It is just a plan to get where you are going.

If you do have a lot of credit card debt, you should focus spending your saving money on eliminating that debt. It would be wise to put a small amount aside for emergencies, but the vast majority of the money you are saving right now needs to be going to your debt. The reason why is simple. Why pay 20% interest on a credit card debt when your savings are earning 2% to 10% in interest. You are spending more than necessary. Wipe out that credit card debt first. It will save you more in the long run.

A lot of people really boost their savings by putting their unexpected money into their savings accounts. Your bonuses, raises, tax refunds and overtime can really pump up your savings. You aren’t having to spend even less or cut back more, but you are seeing your account balance rise.

There is no real secret to saving money. You simply have to start doing it. That is often the hardest thing — the first step. But once you see your finances begin to change and the interest start working for you, you will be hooked on saving for your future.



Madeline

random5432152 asked:


What is the safest online savings account with the highest yield, assuming that the FDIC runs out of funds to insure customers if the bank fails? Right now I have money in Etrade savings and ING, but I am worried if too many banks go under uncle sam won’t be able to insure my money anymore.

Alisha

jlryan87 asked:


What are the highest interest rates for savings and fixed deposit and in which bank? Which country? Can foreigner open accounts in these banks?

Dominick