Rates Current as of Tuesday February 07, 2012

Previous Balance

The cardholder’s account balance as of the previous billing statement.

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Bank Rates September 22, 2009

Interest rates held steady at the close of Monday September 22, 2009. Treasury rates mostly ran in place, ending the day where they started. The three month Treasury showed some life by rising three basis points or 3/100 of a percent, however the three month had dropped on Friday when other short term Treasuries held steady.

Credit Life Insurance

A type of life insurance that helps repay a loan if you should die before the loan is fully repaid. This is optional coverage.

Minimum Investments for the Best CD Rates

As more consumers flock to the safe harbor of bank products, more and more are asking and searching for high rates with a minimal investment. Unfortunately some consumers have even shied away from investments in bank CDs because of the perception that a large sum of money is needed to reach the higher rates.

More DC Bank Rates

Bank rates in Washington are our focus while the nation has its eye on the newest resident in the District of Columbia. Washington DC is home to a quite a selection of banks offering above average CD rates. Most of these banks are small, local banks that are growing and prospering. Bank of Georgetown is a

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?

Yes. Federal Reserve Board rules governing funds availability permit a bank to hold a large check ($5,000 or more) for up to seven business days if it’s a local check and up to 11 business days if it’s a non-local check.

What Are Reserve Requirements?

Reserve requirements are the percentage of deposits that depository institutions must hold in reserve and not lend out. Banks and other depository institutions (savings institutions, credit unions, and foreign banking entities) are required to hold a portion of their deposits as reserves. Depository institutions may hold reserves either as vault cash or as

Embracing Online Banks and Bank Accounts

There is no reason to fear online banks and internet bank accounts. Banks that offer CDs and savings accounts online often offer very competitive rates. Online-only banks often offer some of the best CD rates nationally. They have lower overhead than the brick-and-mortar banks so they can pass the savings on to you. Security measures with these

Writing and Endorsing Checks

When you write a check, don’t date a check ahead of the day you wrote it. This is referred to as post-dating a check. Even though the date is a future date, the individual or company that you give it to can go ahead and deposit it and the bank is free to

Check Printing and Bank Fees

Check with your bank to see how much they charge for ordering checks. Bank customers are not required to pay for new printed checks from the bank. Consider buying your checks and supplies from less expensive sources, such as mail-order companies. If you write a lot of checks each month, the cost savings could be significant.

CD Rates New York at Oneida Savings

Oneida Savings is a full-service, stock savings bank operating eight Central New York Bank branches. The bank has been serving Central New York since 1866. The bank offers a whole host of savings products including standard savings accounts, interest bearing checking accounts, NOW, and money market accounts, as well as IRAs and CDs. It specializes

FDIC Insurance Increase

Great news on bank CD investments and money market accounts. Now the safety of investing in high CD rates and savings accounts is even stronger. On October 3, 2008, FDIC deposit insurance temporarily increased from $100,000 to $250,000 per depositor through December 31, 2009. The deposit insurance coverage limits refer to the total of all

Market Interest Rates

Rates of interest paid on deposits and other investments, determined by the interaction of the supply of and demand for funds in financial markets.

Top CD Rates in Alaska

Alaska is the largest U.S. state by area and 48th by population. Though the climate in Alaska can be brutally cold, there are banks in Alaska that are offering red hot CD rates to help compensate for the chill. One bank in Alaska with above average CD rates is Alaska Pacific Bank. Alaska Pacific Bank

Individual Account

An account in the name of one individual.

South Coastal Bank, Massachusetts

South Coastal Bank is based in Rockland, Massachusetts and has bank branches in Rockland, Braintree, Scituate, and Quincy. The bank was established on March 30, 1868 under its original name of Rockland Savings Bank and has been FDIC insured since March 2, 1981. South Coastal Bank is chartered as a FDIC Savings Bank; therefore the

Money Market Mutual Funds Tax-Free Investment Instruments

Tax-exempt money market funds invest in a variety of public finance short term debt instruments that are used for the financing the needs of local public authorities or other public service organizations. In the United States, federal, state and local governments all issue paper to meet funding needs. States and local governments issue municipal paper.

Bank CD Interest Rates at Cumberland Security Bank Kentucky

Bank CD rates are as competitive in Kentucky as they are in the more populated states. One bank in Kentucky that offers competitive CD interest rates as long with a host of other consumer products and services is Cumberland Security Bank. Cumberland Security Bank offers personal and commercial banking services in their four bank branches found

State Member Bank

A bank that is chartered by a state and has elected to join the Federal Reserve System.

Federal Wire

The Fed Wire is an electronic communications network connecting the Federal Reserve Board of Governors, the 12 Federal Reserve Banks, the U.S. Treasury and some other federal agencies. The Fed Wire is used by Reserve Banks for Fed Funds transactions, U.S. government securities sales and financial transfers from the connected institutions.

Expedited Funds Availability Act

Implemented by banking Regulation CC). It requires financial institutions to make deposits available within specific time frames, based on the location of the bank of deposit and where deposited checks are drawn.

CD Rate Updates

CD Interest Rates Mildly Lower January 30, 2012

In the most recent survey of bank CD rates conducted by Selectcdrates.com, CD rates slumped slightly compounding last week’s similar dip. The average yield on the Selectcdrates.com CD rate index moved down to 1.081 percent from an average rate of 1.087 percent found in the previous rate survey. The Selectcdrates.com index covers the top ten [...]

CD Interest Rates Hold Steady January 23, 2012

CD rates remained relatively stable in the most recent survey of the top national CD rates. The average CD rate, as measured by the rates on the best three month, six month, one year, two year and five year CD rates, was unchanged from the previous week. The Selectcdrates.com weekly CD rate survey showed the [...]

CD Interest Rates Display Little Change January 16, 2012

The best CD interest rates available were little changed over the past week. Based on the most recent survey of bank CD rates performed by Selectcdrates.com, the average CD rate gave up less than one basis point or 1/100th of a percent week over week. The average CD rate on the highest three month CDs, [...]

Banking & CD FAQs

How long can the bank place a hold on government checks (e.g., social security and treasury checks)?

Generally, a national bank will make funds deposited into an account by a government check available for withdrawal not later than the business day after the banking day on which the funds are deposited into an account held by the payee of the check and in person to an employee of the bank.

How Does Inflation Affect the Level of Interest Rates?

Inflation is one reason interest exists; creditors must be compensated for the decline in the purchasing power. So, rates generally are high when inflation is expected to be rapid. Inflation expectations are based heavily on recent inflation. So, rates generally are continuing to be high when inflation is runs above normal historical

Does it hurt my credit to close out a savings account?

As long as there are no unpaid fees on the account, closing a bank account has no negative ramifications for your credit report. Banks will voluntarily report to some credit bureaus information on customers who frequently mishandle their accounts or voluntarily or perhaps involuntarily close an account with a debt remaining open.

I opened an account with a bank that had advertised the account as a free checking account but on my first statement they had fees subtracted from my account. Is this legal?

Under banking laws and regulations, a national bank cannot advertise a free account if you could be charged a maintenance or activity fee. But your bank can offer a free account and still charge for certain services such as check printing, ATM use, or overdrafts. Just because an account is advertised as free

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