Category: Checking & Savings
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Denied a checking account based on a report? You can request a free copy of the report the bank used
A bank’s refusal to open a checking account can come from a specialty consumer report rather than the familiar credit score people usually watch. When the bank relied on that report, the denial notice should identify the reporting company, and the applicant can request a free copy of the report that was used. That copy…
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How to Switch Banks Without Missing a Bill
Switching banks goes wrong when an autopay hits a closed account. The CFPB’s order of operations: open new, move deposits, move payments, then close.
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Is Your Money Safer in a Credit Union? NCUA vs. FDIC
Credit unions carry NCUA insurance, banks carry FDIC. Both cover $250,000 per person, per institution, per ownership category. Here’s how to check yours.
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The Direct Deposit Split: Saving Before You See It
One payroll form can route part of every paycheck straight to savings before you ever see it. How the direct deposit split works and how to set yours up.
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Payable on Death: The Bank Form That Skips Probate
A payable-on-death designation sends your bank money straight to a named beneficiary and can raise FDIC coverage to $250,000 per beneficiary. How it works.
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APY vs. Interest Rate: A Two-Minute Explainer
APY and interest rate are not the same number. Here’s the difference, the math behind compounding, and why the APY is the only number worth comparing.
