Banking Basics

Online bill pay allows you to submit payments without writing checks or sending anything through the mail. It can save you time, money, and increase your credit score. If you haven’t learned how to pay bills online, here’s what you need to know.

Picking a new bank is a big decision — one that could cost you hundreds of dollars a year. The right bank should be accessible, free, and easy to use. Here’s how to choose the right bank for your needs.

Debit cards and credit cards look almost identical. They each have 16-digit card numbers and security codes. While both offer protection and convenience over carrying cash, there are some major differences between these two card types that could significantly impact your wallet.

Overdraft fees are a result of not having enough money in your bank account to cover a purchase. Overdraft coverage can help you avoid these costly fees. However, it may not be the best way to avoid overdraft fees depending on your situation.

Your routing number connects directly to your checking and savings accounts. Banks and merchants use it to deposit and withdraw money electronically. If you want to participate in things like direct deposit and online bill pay, that nine-digit number will come in handy.

There are times when a plastic card or paper cash isn’t enough – for instance, if you need to mail a significant sum of money or send a secure payment. For anyone in situations like these, a money order is the solution.

If you’re saving up for a big purchase such as a dream vacation or even just a grocery-getter car, money market accounts and CDs are two great tools that’ll help you get there. But you should know the difference between these two options.

The amount you owe in taxes will depend on two factors: how much interest you earned and your tax bracket. We’ll break down how to find out how much you owe and how to reduce your tax bill.

A bank statement is a record of your transactions from a checking or savings account over a certain statement period. It shows all the deposits and withdrawals that occurred for your account. It includes any checks you wrote, credits you received and more.

Banking has come a long way since the days of our parents. Perhaps even you have memories of the weekly hassle of standing in line at a brick-and-mortar bank waiting to conduct your business?