Banking 101
Discover how to set up a bank account, learn the difference between banks vs credit unions, how to choose a bank and much more!
This guide will walk you through the process of picking out the bank or credit union that’s right for you, setting up an account, and signing up for direct deposit, so you have immediate access to any student loan money you may receive in college.
Banks vs Credit Unions – What’s The Difference?
If you’re weighing the choice between a credit union versus a bank, there are a few important things to consider about the two types of financial institutions. Knowing the differences will affect which institution you choose for your account.
Checking accounts are best for spending money. Savings accounts have typically interest rates, so they’re best for stashing cash. Here are tips on choosing the account that’s right for you.
Overdraft Fees: What is it and How do I Avoid It
If you make a purchase that pushes your checking account into a negative balance, you can be charged an overdraft fee by your bank or credit union — not just once but several times if you keep making purchases. Here are strategies to avoid overdraft fees.
Understanding Interest Rates
Whether you’re borrowing, saving, or investing, you need to understand the different types of interest rates and their impact on your money and your financial decisions.
