Home - CBSNews.com | 3 CD account mistakes to avoid in today's economy

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In today’s high‑inflation, high‑interest‑rate environment, certificate‑of‑deposit (CD) accounts can earn 4% or more—far outpacing the average 0.38% on traditional savings accounts—and offer the security of a fixed rate, but savers must avoid three costly mistakes: failing to shop around, especially at online banks that can pass on lower overhead with higher rates; opting for short‑term CDs instead of locking in a longer‑term CD that, even with a slightly lower rate, yields greater returns through a longer compounding period; and depositing more money than they can comfortably leave untouched, since early withdrawals incur penalties that can erase earned interest. By comparing online options, choosing longer terms, and funding only affordable amounts, investors can protect principal, grow interest, and gain peace of mind while the broader economy stabilizes.

Read more: https://www.cbsnews.com/news/cd-account-mistakes-avoid-todays-economy/

#certificateofdeposit #onlinebank #inflation #interestrates #savers

Five minutes to open an account with one of the "online only" banks.

That's what the one in question said on their website/in their ads.

Minimum time needed to read their terms and conditions is about 1 hour.

[Pls. don't go "nobody reads the T&C anyway", thx.]

#OnlineBank #enshittification #money

Die Bafin ordnet Maßnahmen gegen N26 an.

Die Onlinebank N26 aus Berlin steht erneut unter strengem Aufsichtsregime. Grund sind gravierende Mängel im Risiko- und Beschwerdemanagement sowie in der Organisation des Kreditgeschäfts, die eine Sonderprüfung 2024 aufdeckte.

https://buff.ly/qdVfrfL

#N26 #Bafin #Bankaufsicht #Hypotheken #Finanzaufsicht #OnlineBank #Geldwäsche #Risikomanagement #Bußgeld #Finanzen #Kreditwesen #Bankenkrise #Eigenmittel #Sonderbeauftragter #Deutschland

Well … Discover merger with Capital One(buyer) completed on 20250518.

Discover FAQ: https://www.discover.com/faqs/merger/

#personalFinance #creditCard #bank #onlineBank #USA

Kan någon, snälla, informera Danske Bank om att 1990-talet ringde och ville ha sin webbdesign (och funktion) tillbaka? 😑

Det måste f-nimig vara bland det sämsta som producerats av ett företag som kan "slänga hur mycket pengar som helst" på det 🤔

Precis ALLT i deras "onlinebank" känns ... dåligt.

#danskebank #onlinebank #internetbank