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Are you planning to save money? The easiest to do so is by opening a savings account in a bank. A savings account is the most popular type of bank account currently available. A big portion of a bank’s business is made up of savings account.



But with the many banks out here, choosing where to open can cause confusion. Different banks offer different types of savings accounts. Thee savings accounts often offer different features. Some features are actually useful whiles some are not really practical.



If you are planning to open a savings account but is confused at the different features then read on. This guide is designed to help you choose the right savings account.



Savings and Interest



The first thing that you should look for in a savings account is the interest rate. This is the most important feature of the savings account since it will determine how much your money will earn in a certain amount of time. The interest is often indicated in the bank statement give n each month. Here you will see the interest paid to your account by the bank. This means that on top of the money you deposited, you have additional money on your account. The amount that your money will earn depends on the interest rate. Of course, the higher the interest rate, the higher will be the additional amount to your money.



Account Transfers



Account transfer is one of the more useful features of a bank savings account and is also something that you should look for. This feature allows you to transfer some or all of your money to another bank account without withdrawing money. This feature offers convenience for you since you do not have to take out your money and deposit it again to another account. This is very useful if you have more than one savings account and you want to transfer money from one of your accounts to another.



Chequing Account Link



A link to a chequing account is another common and useful feature of a savings account. This account is particularly useful for preventing overdrafts. For example, If you have a written a cheque with insufficient balance then your chequing account can cover it. Te amount is taken from your savings account and the cheque that you issued will not bounce. This feature can save you a lot of potential embarrassment. Chequing link often has an additional overdraft fee and other fees.



Online Account Access



This is a very useful feature offered by most savings bank. This allows you to access your savings account with the use of the Internet. The online transaction is done over secure connection which means that you need not worry about your money. You can perform basically functions you can do over the counter or an ATM over the Internet such as check your balance, transfer money, and other tasks. What you cannot do of course is deposit and withdraw money.



What this feature offers is convenience. A lot of time will be save d from not going to the bank yourself. This will definitely free up your time for other more worthwhile activities. And you can do most bank transactions in the comfort of you own home or even while you are at work. Online features though tend to differ from bank to bank.




 


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Best Health Savings Accounts News

Wisconsin offers new health care, day care deductions - Wisconsin State Journal


Wisconsin offers new health care, day care deductions
Wisconsin State Journal
Wisconsin residents who use health savings accounts or who have children in day care will be able to take advantage of new tax breaks as they fill out their 2011 income tax returns this year. Companies that create jobs in Wisconsin also are in line for ...

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Health Savings Accounts Surpass $12.4 Billion Accounts in 2011 - MarketWatch (press release)


Health Savings Accounts Surpass $12.4 Billion Accounts in 2011
MarketWatch (press release)
The survey data was collected in January, 2012 and primarily consisted of the top 50 HSA providers in the health savings account market, with all data being collected for the December 31st, 2011 period. "We continue to see strong growth in the HSA ...

and more »

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Today's print exclusives: Wind farms in Boone; teachers health costs - Rockford Register Star


Today's print exclusives: Wind farms in Boone; teachers health costs
Rockford Register Star
But many teachers could avoid a pay decrease if they chose a Health Savings Account insurance option. Boone wind: A major wind-turbine project is waiting for Boone County Board members to reexamine and rewrite county laws that govern wind farms.

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Re-examine merits of Health Savings Accounts - Business Management Daily


Re-examine merits of Health Savings Accounts
Business Management Daily
Strategy: Take a second look at Health Savings Accounts (HSAs). They may be a tax-smart way for you to handle your medical expenses. Although HSAs were initially slow to catch on, interest has been heating up. Recent tax law changes have generally ...
Individuals who are eligible for medical services at IHS facilities may still ...Journal of Accountancy

all 2 news articles »

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Health Plan Introduces New Individual Products - Sacramento Bee


Health Plan Introduces New Individual Products
Sacramento Bee
By UPMC Health Plan PITTSBURGH, Feb. 2, 2012 -- /PRNewswire/ -- UPMC Health Plan is introducing eight new affordable health care coverage plans for individuals that provide 100 percent coverage on preventive care, health savings account options, ...

and more »

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