Archive for July, 2009

When taking a loan against your Savings Account?

Wednesday, July 29th, 2009

Navy Seal Wife asked: I am trying to establish credit, I have a couple thousand dollars in my savings account. My sister said that I could go to the bank and get a personal loan against my credit account to build my credit.
If I did this would the bank make me a check for [...]

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How can I open a savings account at wachovia?

Tuesday, July 28th, 2009

mighty_mouse asked: OK. Im 15 and I have a job at sixflags. I want to open a savings account at wachovia so i can have a direct deposit for my checks. I would like to know can i open a savings account at 15 at wachovia? If i can will i be able to get [...]

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I’m 16 years old and have about 4k in a savings account. Any advice on how to grow my money?

Friday, July 24th, 2009

m_estock asked: I would to do something with my money instead of letting it sit in a savings account and collect change over the course of a year. I’m willing to take some risks but not anything major. Should I put it into a CD? the stock market? Any advice would be greatly appreciated.Lucien Whitehorse

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Which savings account offers the highest interest rate?

Saturday, July 18th, 2009

Johnny asked: I live in Japan and would really like to start putting away money for the future. I don’t want to invest in stocks or bonds but a long term savings account sounds ok.
Any advice on banks and the different types of savings accounts?
I’d really like to know about special accounts as well [...]

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How do I wire my savings account to my debit card?

Friday, July 17th, 2009

OJC asked: By this i mean how do i make the savings account a medium when i cant directly route the transfer to my debit card? In simpler terms: when money enters my savings, how do i make it so that it instantly transfers that money to the card?
P.S. I’m nearly broke with only around [...]

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What is the difference of a CD and a savings account?

Thursday, July 16th, 2009

L-Train asked: If a savings account has 4% rate and a cd has a one year 3% rate why would i go with a cd? The same bank is offering this and I just dont understand…if I put $1000 in a 4% for one year I make more than the CD right? What gives?Lon Sciera

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If I start a new savings account with RBC?

Thursday, July 9th, 2009

ohyeah887 asked: The e Savings account with a current interest rate of 1.75 if I dropped 5,000 dollars in an account say tomorrow, what could I expect my return to be come september? and would that go up as I fed more funds into the account?Cathryn Haboush

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Can I use the money in my Health Savings Account to pay for a first time House?

Thursday, July 9th, 2009

Gman asked: I’m thinking of buying a house in the next year. I still haven’t funded my Health Savings Account yet. If I do, can I use that money to pay for my house without penalty? I know you can do this with an IRA, but what about a health savings account?Ben [...]

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Will putting money on my savings account raise my credit score?

Tuesday, July 7th, 2009

Dennis L asked: I bank with Wells Fargo and I have checking and savings from them. I can save $500 per month from working full-time. If I put $500 on my savings account every month for at least 12 months, will this raise my credit score?Karren Gargani

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Can I have a savings account before my bankruptcy is discharged? Will the trustee take the money?

Monday, July 6th, 2009

Kristine S asked: We filed chapter 13 in 2006. It will be over in 2 years. Can we have a large sum of money in a savings account? Will the trustee find out about the savings account?Eleonora Farlow

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