FDIC insurance protects up to $250,000 per depositor at member banks, but the rules around ownership categories and coverage limits catch plenty of savers off guard.
Harvey Walker3 min read
Checks, money orders, CDs and promissory notes all fall under one banking term: negotiable instruments. Here is what makes them transferable, and where the risks lie.
Harvey Walker4 min read
Chase Bank's CD rates swing from a rock bottom 0.01% to a featured 4.00% APY, but only checking customers get the higher numbers. Here's how the terms actually break down.
Eli Castillo1 min read
A letter of credit lets a bank guarantee payment between strangers doing business across borders. Here's how the different types work, what they cost, and when one actually makes sense.
Harvey Walker6 min read
A bank draft locks in your money before the seller even sees it, making it a go to for home and car purchases. Here is how it stacks up against…
Bobby Ramos5 min read
Deposit slips still back up your cash and check deposits at the teller window, but mobile apps and modern ATMs are quietly making the paper form optional for many bank…
Bobby Ramos3 min read
The Bankrate Monitor Index is a long running measure of interest rates paid on checking, savings, money market and CD accounts at banks and credit unions across the United States,…
Bobby Ramos1 min read
Lost or stolen checks can still be cashed unless you act fast. Here's how stop payments work, what they cost, and when closing the account beats canceling checks one by…
Bobby Ramos4 min read
What keeps banks honest when regulators aren't looking? Market discipline explains how transparency, capital buffers and investor pressure work together, and why the 2008 crisis exposed its limits.
Bobby Ramos3 min read
Credit union CDs often beat bank CDs on rate, but membership rules and terminology differ. Here's how share certificates and bank CDs really compare before you open one.
Eli Castillo2 min read
Zelle promises fee free, instant bank to bank transfers, but it also comes with real trade offs: no fraud protection like credit cards, no way to cancel a payment, and…
Harvey Walker3 min read
What exactly is a minimum balance, and why do banks and brokerages enforce it so differently? Here's how checking account rules compare with FINRA's margin requirements, plus ways to avoid…
Eli Castillo4 min read