SAVINGS ACCOUNT
Our savings accounts will require a minimum balance in order to avoid monthly fees or earn the highest published rate, while others will have no minimum balance requirement. So it’s important to know the rules of your particular account to ensure you avoid diluting your earnings with fees. Whenever you want to move money in or out of your savings account, you can do so at a branch or an ATM, by electronic transfer to or from another account using the bank’s app or website, or by direct deposit. Transfers can usually be arranged by phone, as well. Though these accounts typically pay a modest interest rate, their safety and reliability make them a great option for parking cash you want available for short-term needs. Savings accounts have some limitations on how often you can withdraw funds, but generally offer exceptional flexibility that’s ideal for building an emergency fund, saving for a short-term goal like buying a car or going on vacation, or simply sweeping surplus cash you don’t need in your checking account so it can earn more interest elsewhere.
