Rates Current as of Thursday February 09, 2012

A mutual fund whose shares are sold without a sales commission and without a 12b-1 fee of more than .25 percent per year.

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Banking & CD FAQs

Does having a checking account improve your credit score?

No, a checking account is not correlated to your credit score. The only reason why you have to give your social security # is to prove that you have no outstanding debt with any other banks and proof of identification.

I closed an interest bearing account I had with my bank, but the bank did not pay me all the accrued interest that should have be due. Can they do this?

If you closed the account before the bank credited accrued interest, generally that interest is not paid out, this is known as forfeiture of interest. However, the bank must disclose this policy in the account agreement you received when you opened the account. Review your account agreement to verify your banks policy.

If I deposited a $7,000 check drawn on a bank in Illinois into my bank account in Massachusetts. The next day, I received a notice from my bank that part of my deposit was being held for 11 business days because it is a “large deposit.” Is my bank allowed to hold my money this long?

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