What is a regular savings account?

Answer A regular savings account is a bank account that pays interest on the money in the account. Depositors have access to this money any time they want to make a withdrawal, with no penalties. A saving... Read More »

Top Q&A For: What is a regular savings account

How to Change an IRA Into a Regular Savings Account?

An Individual Retirement Account (IRA) can have one of many different types of custodians managing and monitoring the account. Custodians include banks, brokerage firms, insurance companies and spe... Read More »

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 »