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Oct 11, 2024 | 
marketwatch.com | Lindsey Crossmier |Jared Macarin
Demand deposit accounts — such as checking accounts, savings accounts and money market accounts — are useful for moving funds without needing a bank’s permission. Checking accounts are the most accessible type of DDA, though they usually earn little to no interest. Savings accounts and some money market accounts earn more interest than checking accounts, on average, but they may limit how many transactions you can make per month.
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Sep 27, 2024 | 
marketwatch.com | Lindsey Crossmier |Kelly Larson
Annuity sales are on the rise in 2024. With sales paced to top $400 billion in 2024, they’re on track for a third annual sales record, according to the Life Insurance Marketing and Research Association. In August 2024, the MarketWatch Guides team launched an annuity survey to 1,000 annuity holders to get a feel for the current annuity landscape.
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Sep 18, 2024 | 
marketwatch.com | Lindsey Crossmier |Jared Macarin
Annuities are financial products that, among other benefits, provide guaranteed income for life and lower your taxable income. More and more people are considering annuities, with fixed-rate deferred annuities tripling record sales in 2023, according to a . The same LIMRA study predicts fixed-rate deferred annuity sales will remain strong throughout 2024 and 2025, likely exceeding $100 billion. Annuities are complex financial products that require careful research.
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Aug 23, 2024 | 
marketwatch.com | Lindsey Crossmier |Jared Macarin
Banks and credit unions offer promotional certificates of deposit to attract new customers with competitive rates — and it works. In a 2024 MarketWatch Guides CD survey, we at the MarketWatch Guides team found that 66% of our 1,000 respondents opened a CD to take advantage of a high interest rate. Key Takeaways Promotional CD rates tend to range between 4% and 5.5% annual percentage yield, though rates may vary by financial institution and term length.
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Aug 22, 2024 | 
marketwatch.com | Lindsey Crossmier |Liz Bingler
It’s not uncommon for financial institutions to offer banking products tailored for older adults. In the American Bankers Association’s Older Americans Benchmarking Report, it surveyed 112 banks of varied asset classes, finding that over 50% of the banks surveyed offer products favorable for older customers. Senior checking accounts strive to make banking less complicated by reducing fees and providing free services. However, this doesn’t mean a senior checking account is always the best option.
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Aug 16, 2024 | 
marketwatch.com | Lindsey Crossmier |Liz Bingler
Many people prefer banking digitally over banking in person. We at the MarketWatch Guides team found that 73% of the 1,000 respondents in our 2024 consumer banking survey said they prefer banking online, either through a mobile banking app or a bank’s website. As online banking has flourished, so have online banks. It’s easy to understand why people may prefer online banks: You can often get higher rates, lower fees and easy accessibility, right from your home.
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Aug 15, 2024 | 
marketwatch.com | Lindsey Crossmier |Kelly Larson
While we only recommend cash advance apps in case of emergency, as they are very expensive, some are better — and cheaper — than others. EarnIn’s cash advance app is best known for being fee-free for standard services and for its exceptional funding speeds. Instead of fees, EarnIn solicits optional tips with each transfer, ranging between 50 cents and $14. Cash advance apps claim the optional tips give users flexibility to pay what they can afford, rather than charging a mandatory fee.
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Aug 9, 2024 | 
marketwatch.com | Lindsey Crossmier |Liz Bingler
Most online banks are just as safe as traditional brick-and-mortar banks, and most people now prefer online banking. We at the MarketWatch Guides team found that, in our 2024 consumer banking survey, 73% of our 1,000 survey respondents said they prefer banking online, either through a mobile banking app or a bank’s website. Key Takeaways Most online banks use encryption technology, multifactor authentication (MFA) and fraud detection systems to keep your account information safe.
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Jul 10, 2024 | 
marketwatch.com | Lindsey Crossmier |Andrew Dunn
Picking the wrong savings account type for your nest egg can minimize your potential returns, lock up your funds, result in monthly maintenance fees or even trigger penalties. In this article, we at the MarketWatch Guides team offer personal finance guidance to help you choose the right savings account type. Key Takeaways The most common savings accounts are traditional savings, high-yield savings and certificates of deposit (CDs).
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Jul 9, 2024 | 
marketwatch.com | Lindsey Crossmier |Liz Bingler
If you want a more profitable option than a typical savings account, a no-penalty CD can be a safe alternative for short-term savings. It generally offers a fixed interest rate and has more flexible withdrawal terms than a standard CD, allowing you to take your deposit out early without paying a penalty. Many financial institutions offer no-penalty CDs, so choose yours carefully to maximize your savings.
