Checking Accouts and Savings Accounts

The difference between checking & savings accounts are quite a few minor details. Starting with the obvious, the names, checking and savings have different meanings and different intents. Another name for checking is transactional, or demand deposits. Savings accounts are intended to help you accumulate funds over time. They’re also called time deposit or term deposit accounts.

Depending on the bank, transactional records of finance vary. For the sake of convenience and safety, you can use personal checks to pay your bills rather than paying by cash. All financial institutions now offer plastic cards that you can use to deposit or withdraw funds at the bank’s ATMs.

Checking, or transactional accounts usually allow for unlimited withdrawals, whether by check or atm. Sometimes people have extra money. They do not want to lose it or have it stolen. If you deposit it in a savings account, or time deposit account, it will be safe and it will usually accumulate interest, depending on the account you have chosen.

Transactional allow customers to deposit, withdraw, and transfer their money whenever they want to do so. Someone who puts money into a transactional account receives blank forms called checks. In order to give funds to another person, you simply fill out a check against your account and sign it. The check can be given to the recipient, or even sent in the mail, since it’s safer than cash.

The payee can cash the check to get the money or deposit the check in a bank. The funds are deducted from your account and deposited into the payee’s account, or if he goes directly to your bank, handed to him in the form of cash. A check is not money itself. It is simply and order to the bank to pay money.

Banks and credit unions prepare monthly statements for checking account customers. Each and every transaction should be reflected in the statement so the customer can see what monies have been deposited and withdrawn from their account over the month. Customers who keep their own records can compare their figures with those of the bank. Because of the number of transactions involved, checking accounts require a great deal of bookkeeping.

Banks pay interest on money kept in time deposits. The amount of interest paid depends on the type of account. Some accounts earn three percent interest a year. Others may earn five percent or more. The Federal Reserve Board sets their rate, which in turn is used by banks to determine interest rates on savings accounts. Most bank offer special kids savings accounts to get children started saving.

Historically when you opened a savings account, you received a passbook to record all your transactions in. For that reason such accounts are still referred to as passbook accounts. You could only withdraw funds by going to the bank with the actual physical passbook, proving that you were the owner of the account and there were funds available.

Now that everything is electronic, even savings accounts can be accessed using a plastic bank card at the ATM. But unlike checking accounts, frequent withdrawals will cost you in bank fees. There are record finances that can be joined with another individual allowing that person to withdraw as well.

Because savings accounts are time deposits, banks can require thirty days notice before the money is taken out. But in practice, money in a time deposit can be withdrawn on demand.

Both types of record finances are good, it all depends on whether it is wanted for keeping money and having it grow throughout the year, or having quick access to the money when it is needed.

Children’s Savings Accounts Are A Good Idea

All parents think about the future and what they can do to help their children succeed. Parents need to start planning now to make sure their kids have money for their needs in the future. Those who are serious about saving might want to look into a kids savings accounts. There are so many great perks that come along with opening one of these accounts for the kids. Take a look right now and find out how to benefit and where to get the process started.

It seems like it would cost a lot to build up a savings account into something that will be valuable for your children. But by depositing a little bit every month, you can accumulate a sizable amount and hardly notice the expense. Starting early is the key to growing a good sized account.

One of the most important reasons to set up a bank account for your kids is to teach them how to save money. Setting this example ahead of time is going to easily help the child develop the habit for life. People who don’t save often find themselves in trouble when the unexpected happens. A job loss or unexpected car trouble can really throw them for a loop. Walking through this process side by side with your children will help them see how it works.

Everyone wants their children to have the opportunity to go to college. However, tuition rates are on the rise and seem to be increasing each and every year. If the savings account is up and running when the child is small, by the time they reach the college age they will have everything they need and then some. This can be the difference between attending the local community college and going to the school of their dreams, especially if they want to go to a private or out of state college.

If you just count on your memory to make the deposits, there’s a good chance that a lot of deposits will be missed over the years. A much better solution is to set up automatic deposits. Once a month, a deposit will be made and that will continue to grow. There might even be some children savings accounts that will offer some interest. Usually if a certain amount is being put in, the bank will add some more onto that to ensure that the family is saving as much as they possibly can.

Once the teenager reaches a certain age that is determined by the parents or even the banking establishment, the parents can pass that responsibility down. If the child has learned effectively, they should be able to continue to save their money without spending it all. The parents will want to decide when is the right time to turn over control. It may be different for each child depending on their maturity.

The first thing to do when you want to open a children’s savings account is to find a bank or credit union. Many banks these days have everything up and running online, which makes opening a brand new account a whole lot easier. Browse around and do not forget to find out about the different rates and even interest that could be offered.

The best time to open a savings account for a child is sooner rather than later. You can teach your children how to save money, and at the same time ensure that they’ll be in a pretty good position as they enter adulthood. You know what they say: There’s no time like the present!

Move Your Bank Account to the Internet

Bank accounts are nothing new. Pretty much everyone has one. There are even savings accounts for children to learn about managing their money. We get our scholarships, loans or our wage paid into it and we also use it to pay for things in shops. If you’re still using paper checks and conducting your transactions at the local branch, though, you’re doing things the hard way. Internet bank accounts offer convenience, security and cost savings.

If you do not know anything about such form of banking and how it works you are advised to talk to someone who has done it before. This could be a person from your family or one of your friends but if we want real professional assistance you should talk to one of the assistants in your bank branch. Once you know how it works with your bank, you’ll be a lot more confident.

It’s very easy to set up an internet bank account. You will only have to go to your local branch and sign a paper that states that we want to have such an account. You’ll get an account number and a user name. They’ll either give you a temporary password, or let you choose your own confidential password on the spot. Remember that the user name and password allow you access to your money. Don’t lose this information or share it with anyone. Just like your ATM pin number, it’s best to memorize it.

Banking online can save you money, plus it’s good for the environment. If you elect to skip printed account statements, you will not have to pay for them. Any time you want to check the history of your account, you simply go online and check it. Getting your information online will help save the environment, since no paper statements will be printed and mailed. Many banks offer free bank accounts for customers who are willing to go paperless.

When using an online account you will also have much better comparison opportunities. You can look up all the different interest rates and accounts in one single pdf. This is much easier than dropping by the bank to pick up a handful of flyers and brochures.

Using the internet will help you to improve the security of your account as you will be able to track your finances twenty four hours a day seven days a week. This sense of security is even more important if you think about the fact that you could see it immediately if someone would have used your credit card or written a check. Having an internet bank account at your fingertips all the time is an ideal protection against fraud and theft of your money.

Have you ever been overdrawn on your account? Have you purchased something, thinking that you had enough money in account, only to find out later that you didn’t? You won’t get into this situation again if you can check your balance from any computer. Also, since so many transactions are conducted electronically these days, you probably won’t have a lot of outstanding checks to remember.

It used to be time consuming and slow to do your banking. With banking on the internet you can avoid standing in long queues and waiting for an assistant. You will also save some money as certain things, such as money transfer, are free of charge when done online but expensive when done in a branch.

Having read the article you should have a better understanding of the greatest advantages of an internet bank accounts. Further information is available in other online articles or in leaflets of your bank institution.

Some Benefits To Owning Your Own Motorcycles

The thought of owning their own motorcycle in sufficient reason to buy one for many enthusiasts. But the simple desire to have your own motorcycle is far from the only reason to get one. The many reasons for wanting to own one could help convince so many other people, who love the idea of wanting a motorcycle that it will be much more than just going out and getting what you really want to.

Motorcycles are much less expensive than cars. This is true whether you get a brand new top of the line bike or a cost effective used one. In so many cases, depending on the age and the quality, you shall discover that the price of a motor bike will cost about half the price that you will pay for almost any type of car. This one benefit to owning a motorcycle over a car can save you thousands of dollars. Maybe this is enough by itself to convince you to take the plunge.

As most of us are aware the cost of fuel is quite high and still rising. But by driving this type of motor bike you will be able to save a whole lot more money with fueling the bike than it would filling up the gas tank in any kind of car, van or any other kind of vehicle. Of course mileage varies depending on the type and size of the bike and where you ride – out on the highway or in a city with a lot of stops. On average, though, motorcycles will get somewhere between 30 and 60 miles per gallon.

Because of its smaller engine, motorcycles produce significantly lower carbon emissions and use less oil than other larger vehicles like cars and trucks. With a motor bike you shall be able to ride it with plenty of fresh air blowing into your face at the same time that you are contributing to a much more cleaner air in the environment while enjoying a drive on your motorcycle.

You’ll also find that motorbike insurance doesn’t cost as much as car insurance. And if you have a good clean driving record the insurance can average about a few hundred dollars per year, while car insurance can certainly cost you close to a thousand or even more for driving a car.

Maintenance and repair costs tend to be a little lower than on a car, mostly because the parts are usually smaller and less expensive. If you really want to save money, you might think about handling the maintenance yourself. You can take a motorcycle repair class at the local community college. If you do repairs yourself, it can save you a lot of money. Even if you choose to have a professional do repairs for you, you’ll know how difficult a repair is and be in a better position to pay less.

The view from a motorcycle is far better than the view obstructed by the roof of a car. You’ll definitely enjoy the scenery a lot more from your bike. It’s also fun and romantic to ride your motorcycle with that special someone, their arms wrapped around you, enjoying the open road.

You can meet and make plenty of new friends by being part of a motorcycle club as sharing your experiences with them can be one really wonderful way to learn other things in regard to the ownership of a motorcycle.

Do your own motorcycle insurance comparison before you buy a bike. The type of cycle you buy can greatly impact your ability to get affordable motorcycle insurance.

All Checking Accounts Are Not Created Equal

If you are thinking of opening a new checking account, the first thing you need to know is that they’re not all alike. Most people just assume that a checking account is a checking account. They go to the nearest bank, or the bank that they’re most familiar with, without ever taking the time to compare checking account terms and benefits. All checking accounts do have similarities, like the fact that your funds are easily accessible and transferable, but the costs and terms can differ greatly. Here are the most important things to look for when shopping for a new checking account.

Opening up a checking account without evaluating your needs and the options offered by various banks and credit unions is likely to net you an account that’s not the best choice for you. You can avoid future disappointments by taking a little time to think over how you use your checking account and what features are available.

The first step is to compose a list of things that you would like to be able to do with your new checking account. Here are a few of the more common features, some of which you may want and some of which you definitely won’t want.

Most banks and credit unions have a stated policy regarding holding funds deposited by check. For example, you might deposit a local check into your account. Your bank might put a hold on the funds, or a portion of the funds, for three business days. But if you deposit a check from a foreign bank, your bank might put a seven day hold on the funds. If you don’t need access to your funds immediately, you probably don’t mind this. But if you regularly deposit funds and need access to them right away, this practice could present a problem, especially if your deposits come from out of state banks. This would be the case if you process checks from customers and need the funds fairly quickly for payroll or other time sensitive expenses.

When you’re checking out which account might be right for you, be sure to ask about their check holding policies. It may be possible to arrange for an exception for checks from specific accounts, for example your employer or pension fund. If the financial institution you’re talking to can’t accomodate your needs in this regard, it’s time to investigate another bank or credit union.

Minimum balance requirements are important too, depending on how much you regularly keep in your account. If you are able to, you might consider an interest bearing checking account with a fairly high minimum balance requirement. These type of accounts often offer interest on your balance. But be careful. If you drop below the minimum balance even once, all your interest earnings could be wiped out. Have you thought about overdraft protection? This means that if you write a check for more than the balance available in your checking account, your bank will cover it. In essence, it’s an unsecured short term loan for the shortfall.

If you’re looking for a new checking account, don’t just go to the same bank you’ve always used, assuming that all checking accounts are the same. There are many differences in features and fees between one bank and the next. If the credit union or bank you’re working with doesn’t offer the best terms on the kinds of services you use, keep looking. You’re sure to find a financial institution that can meet your needs with reasonable costs.

The Best Way To Shop For Motorcycle Insurance

Motorcycles are actually much more potentially dangerous than motor vehicles when it comes to accidents. None of us ever know when we may be involved in a terrible accident. And we need to protect ourselves financially by obtaining insurance coverage. Think of it as an investment. There are several reasons to think about insurance before you have a problem and make sure you’re covered.

You take a risk every time you get on your bike. And there are many states that require their bikers to obtain this coverage before they can legally hit the pavement on their impressive bikes. However, the good news is that there are many ways one can find affordable coverage these days that will offer you protection without breaking the bank. Many people are looking for ways to save money on everything, and now they can stretch their budget a little further by doing some research and shopping around for their insurance coverage. A motorcycle insurance comparison can go a long way.

There are many ways to shop for motorcycle insurance. You could call your existing company, contact an insurance agent, or ask a friend for a referral. But modern technology has brought with it the convenience of the Internet. Those who shop there often save more and spend less time shopping around comparing coverages.

One of the best ways to shop online is by using free quote sites. These sites will give you a side by side comparison of different policies and insurance companies quickly. All you have to do is enter some personal information on a profile page, and then after submitting this, the site will process your information to offer tailored results.

Insurance rates are determined based on several risk factors, including your age, driving experience and history of tickets and accidents. The model and price tag of your motorcycle play an important part too, as does the zip code you live in. So all this information is necessary to get appropriate results.

When using a quote site, you can view the results and then spend some time deciding which plan may be best for you. Don’t just pick the cheapest one and call it a day. Look at what is covered and what the limits of each coverage are. Find the one that meets your needs at an affordable price.

Narrow your choices down to three or four companies, and then contact each one to find out what discounts they offer than you could take advantage of. You might be surprised at the discounts available on motorcycle insurance. Many companies offer student discounts, good driver discounts and discounts for having multiple insurance policies with the same company. This could help you shave a little more off the quotes, but you won’t get the discounts unless you ask.

There are other ways of finding affordable policies, but these often take a lot of valuable time. Instead of wasting time waiting for return calls and being pressured by sales people, sit down at your own computer at any time that’s convenient for you. Anywhere that you have Internet access, you can search for rates using these quote sites. It is not only convenient and efficient, but easy to use.

You should be able to enjoy your luxury motorcycle. But adding to this peace of mind by investing in a high quality insurance policy is truly priceless. You can feel confident that no matter what unexpected events come your way, you will not have to worry about coming up with an enormous amount of money in a hurry.

Top Tips for Buying a New Motorcycle Insurance Policy

Being safe on the road is critical for everyone, but especially for motorcycle riders.  It is very easy to get in touch with the right amount of motorcycle insurance and save a great deal of money.  If you are seriously looking for a policy with the best coverage at the best price, keep reading. You’ll find the tools and tips you need to compare motorcycle insurance.

In order to make sure you get the best policy for you, you will need to collect some information ahead of time.  Have the year, make and model of your motor bike handy. If possible, get the VIN too. This way the insurance company will know what kind of bike you want to insure.  You won’t be able to get an accurate quote without giving them this information.

From there, it is very important to sit down and think about the amount of coverage that is needed.  If the driver wants to make sure that they are covered at all times, they are going to need to shop around.  The more coverage that is required, the higher the amount of money it is going to take to have the right policy.  Take the time to consider the certain types of coverage and sign up for the right one.

There are many insurance companies offering a variety of coverage options. You should be able to find a company that offers the product that fits your needs.  It will be important to take care of this research step so that the driver knows what they are getting into in terms of a good policy.

To get the very best policy take the time to start out with the quote process.  All of the major auto insurance companies offer online motorcycle insurance quotes.  Be sure to take time to sign up for a number of quotes to find out how much it is going to cost to insure the bike.

Once the quotes have been taken care of, be sure to take the time to make the right comparisons.  Obviously you’ll want to compare the premiums and select a policy that you can afford to pay for each month. Don’t forget to compare the coverage as well. Each policy will be a little different, so make sure you’re covered against the risks that you want to be protected from.  There are a lot of risks that can be taken when driving a bike so shop around.

If you’ve found an insurance policy that suits you, it’s time to enroll.  Be sure to take care of this step online in order to save a great amount of time.  You can even set up automatic payments. This will avoid having your insurance canceled if you forget to pay the bill.  Take the time to plug in some payment information and print out the insurance cards so that the bike is now legal on the road.

You must have insurance for legal reasons, and to protect yourself and your assets. There’s a wide range of motorcycle insurance coverages out there and and equally wide range of prices.  Start your search online to find the policy with the best coverage for your situation at the lowest price.  Once you have your insurance policy in place, you’ll be able to ride your bike without worrying.

Pet Insurance: A Good Idea or A Waste of Money?

Many people want to make sure that they have the right amount of protection for their pets.  It is not uncommon to come across different choices for pet insurance.  People who need to make sure that their pet is protected will easily be able to look through this guide to find out how to get the best policy.  Within a few minutes, the right insurance policy can be found and purchased.

Not too many years ago, pet insurance was unheard of. Now a lot of pet owners wouldn’t be without it. Think of all the times you’ve taken your pets to the veterinarian for regular checkups or when they were sick or injured. Have you ever had a pet that needed emergency surgery?  It is very important to make sure that the right policy has been set in place for that pet so that there is no need to worry about anything that could come up.  With a policy, pet owners get to have much needed peace of mind.

You can get pet insurance to cover just about any kind of pet you might have.  Dogs and cats are the most commonly insured pets, but if you have another type of pet, like a fish or a bird, you can find policies for them too.  You’ll want to take a little time to do your homework and find out what’s available.  Every insurance company is going to offer a number of great policies for a number of different pets.

The internet is the best place to begin your search. There are a number of different sites that will help pet owners get exactly what they are looking for.  The best news is that you can evaluate many policies from several different pet insurance companies without ever leaving home.  It’s well worth the time you’ll spend finding the company with the right coverage for your pet’s needs.

If you’re thinking that pet insurance is going to be almost as pricey as human health insurance, you’re wrong.  Many owners have been able to report only spending around $20 each month in order to have the right amount of coverage.  This is not going to be like the regular health insurance or car insurance policy that people might be expecting.  The payments are going to be very low as well as incredibly affordable.

Pet insurance policies typically cover bills for vet visits, surgeries and medications for your pet.  You’ll save a lot of money if you have insurance in place before a big and possibly unexpected vet bill arises.  Look into everything that is going to be covered before signing up with an actually policy.

The fact of the matter is, these options are supposed to save the person money.  Spending money each month on a plan  is going to protect the pet at all times and provide them with what they need.  Take time to compare policies and find the very best ones to work with.

Pet insurance is a very good investment for pet owners, especially for those who are willing to pay whatever they need to in order to make sure their beloved pets are taken care of.  Take some time right now in order to make sure that the right option has been located and paid for.  Then you can sit back and relax, knowing that if anything happens to your pet, the finances are taken care of.

Benefits of opening up a Savings Accounts for Children

Many parents want to make sure that their children are set up and ready to go once they reach the age of being an adult.  This is where children’s savings accounts are becoming very popular as well as very easy to set up.  Anyone who wants to get one started up and ready to go will be able to look into this great guide for some extra help.

The account needs to be started when the child is at a young age.  Over the years, the money is going to grow in the account and the child will be all set up once they reach a certain set age.  Be sure to look into different accounts and find out how easy it can be to find the right options for children.

Take the time to think about the amount of money that is going to be deposited on a regular basis.  If the deposits are made on a constant basis, it will be easy to see that money grow over the next 10 years or so.  Be sure to deposit small amounts every time so that it is still very affordable for the parent.  The money is going to be safe once deposited so take the time to figure out how much is available.

There are banks that will allow the account holder to set everything up on an automatic basis.  If the money is taken out automatically, the parents will never have anything to worry about.  Se it all up and ensure that the money is going to be in the account each and every month.  If the money is not available there will not be a payment that is recorded into that account.

Some accounts will also get interest added on to make the investment grow a little bit more.  There are banks that offer great rates that parents can easily take advantage of.  Make sure to compare a number of banks in order to get the very best information and account possible.  The child will want to use this money for a new car or even college so it does need to grow.

Setting the age that the child needs to reach in order to gain control of the account is also something to think about.  If the child is fairly young right now, think about releasing the money to them when they turn 18 or even 21 years old.  The parent needs to make sure that the child is going to be responsible enough to handle the amount of money that is put into the account.

Now is the best time to get started and find the right account.  Talk with a few banks and find out how easy it is going to be in order to get an account set up and ready to go.  Making comparisons between banks and plans is going to help a great deal and get everything set up in no time at all.

Parents always want to make sure that their children have something that they can fall back on.  Savings accounts for children are increasingly popular these days and very easy to set up.  Start right now with a reputable bank that will offer the highest interest rates to earn even more.

Opening Savings Accounts For Children

After you have explained the value of money to your children and they begin to earn and save money at home doing chores, it is time to take that full piggy bank to a real bank and show them that by opening savings accounts for children and deposit their money, they can watch it grow so they can purchase that special item they have their eyes on.

First you have to find a bank that will meet your child’s needs. If the bank you normally use doesn’t have a special savings account for kids, then you might want to look for a different bank or a credit union. Most credit unions have lower fees due to the fact that they are member owned. You can also check out an online bank if you would rather teach your children about internet banking. This is one of the easiest methods of banking and you can keep an eye on the account from your own home.

Look out for minimum balance requirements and monthly service fees. You should be able to find children’s bank accounts that don’t have either. You should also make sure they do not charge fees for inactive accounts. You need to get your child’s savings account set up just the right way in order for them to learn what you hope to teach. There’s no substitute for reading all the terms and conditions associated with the savings account.

The age of your kids also determine which type of account you will need. For a baby, you’ll need a deposit only type of account. For older children, they will probably want to withdraw funds from time to time. This account will be with your child for a long time, so think about how it will be used over the years.

There are two types of children’s savings accounts you should consider. There are old fashioned passbook accounts, and statement accounts, which are more similar to checking accounts. With passbook accounts, the bank will provide your child with a booklet where every transaction is recorded. At any time money is deposited, that amount is entered into the passbook.

Statement accounts are when your child is provided with a monthly statement of all account activity. They’ll be able to see what has been deposited and withdrawn, as well an any interest that has accrued and any bank fees that have been charged. Statements can be paper or electronic.

Once your child has a savings account of his own, you will see his interest in banking and managing money grow. Some children will want to save every penny and not spend any of it. Others will take a more middle of the road approach, saving up for something they really want, and then spending it. And some will deposit and withdraw like a revolving door. However your child handles their savings account, they will learn a lot about how to manage the money they have.

Kids can learn a lot about responsibility from having their own savings account. Make sure to get them involved and not just manage it for them. They will love to look over their bankbook and watch how the numbers change. It is a good way to help save money towards their future, whether it is for college, an automobile, wedding or that special bicycle they want. Starting while they’re young will help kids develop financial responsibility. And that’s worth any price.