Bank Accounts

[otw_shortcode_dropcap label=”Q:” size=”large” border_color_class=”otw-no-border-color”][/otw_shortcode_dropcap] Can I open a savings account online? [otw_shortcode_dropcap label=”A:” size=”large” border_color_class=”otw-no-border-color”][/otw_shortcode_dropcap] You no longer have to go into a bank branch and wait for a representative to open a savings account. The emergence of online banking has made it super simple to open a savings account from the comfort of your …

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[otw_shortcode_dropcap label=”Q:” size=”large” border_color_class=”otw-no-border-color”][/otw_shortcode_dropcap] Why do banks pay interest on savings accounts? [otw_shortcode_dropcap label=”A:” size=”large” border_color_class=”otw-no-border-color”][/otw_shortcode_dropcap] If you have a savings account, you probably are thankful for the little bit of interest the bank gives you while they hold onto your money. Yes, many banks offer minimal interest on their savings accounts, but every little …

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[otw_shortcode_dropcap label=”Q:” size=”large” border_color_class=”otw-no-border-color”][/otw_shortcode_dropcap] How many savings accounts can I have? [otw_shortcode_dropcap label=”A:” size=”large” border_color_class=”otw-no-border-color”][/otw_shortcode_dropcap] Banks generally do not limit the number of savings accounts you can have. People with multiple savings accounts often diversify their accounts across several banks. Additionally, many banks allow for multiple savings accounts within the same bank. You will need to …

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[otw_shortcode_dropcap label=”Q:” size=”large” border_color_class=”otw-no-border-color”][/otw_shortcode_dropcap] Do savings accounts have routing numbers? [otw_shortcode_dropcap label=”A:” size=”large” border_color_class=”otw-no-border-color”][/otw_shortcode_dropcap] A  routing number is a nine digit number that is associated with a bank. It is also known as the transit number or an American Bankers Association (ABA) number. It is not unusual for larger banks to have several routing numbers for …

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[otw_shortcode_dropcap label=”Q:” size=”large” border_color_class=”otw-no-border-color”][/otw_shortcode_dropcap] What is the difference between a checking and savings account? [otw_shortcode_dropcap label=”A:” size=”large” border_color_class=”otw-no-border-color”][/otw_shortcode_dropcap] The two primary accounts you can establish at a bank are a checking and savings account. Most people have the ability to open one or both types of accounts. However, each account serves it own purpose. What …

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