Is an E*Trade savings account safe?

Answer On One Hand: FDIC InsuranceE*Trade savings accounts are protected by FDIC insurance, which protects your money in case the financial institution is in dire financial straits down the road. The FDIC... Read More »

Top Q&A For: Is an E*Trade savings account safe

Is there a difference between the APY on a savings account& a high-yield money market account?

No, the formula for annual percentage yield (APY) is one plus the periodic interest rate. Then raise the sum to the power of the number of periods of investment. Finally, subtract one. The formula ... Read More »

What is the difference between a health savings account&a flexible spending account?

Health savings accounts (HSAs) and flexible spending accounts (FSAs) are ways to put money aside for future heath care costs. Both provide tax advantages, but the qualifications and functions of th... Read More »

Is a Money Market Checking Account Also a Savings Account?

Money market deposit accounts (MMDAs) are bank savings accounts that have some of the withdrawal capabilities of checking accounts. Some people think money market accounts are checking accounts bec... Read More »

What is a savings account for?

Banks provide savings accounts to consumers to hold money for a long-term period. Consumers save money for vacations, college and emergency expenses in a savings account. In exchange for depositing... Read More »