FDIC insurance is the most attractive part of having a deposit account over investing money in something involving more risk. With funds that are FDIC insured, you’re guaranteed to get your money back if your institution fails by the FDIC as long as you fall within the guidelines. There are a few misunderstanding when it…
I mostly write about interest rates on this blog, but another important factor when looking at banks is customer satisfaction. Everyone knows how important it is for a bank to have great customer service and most people are willing to take a small cut in interest rates in order to work with a bank that…
Anyone who has used their bank’s check card to pay for items knows that you can use debit or credit to make purchases, but most people don’t know what the difference is besides the fact that with debit you have to enter a pin, and with credit you need to sign. One of the key…
I just finished creating the new Bromoney savings rate addon that lets you track the top savings rate from your firefox browser. You can track the top savings rate or track the savings rates from an individual bank. You can download the plugin from mozilla, but I believe you need to register an account with…
The inflation rate is the measure of the rate of increase in the price index over time. The prices of goods and services rise in an economy over time. Consequently the purchasing power of every dollar decreases over time. The current inflation rate isn’t too bad at the time of writing this post. The 2010…
Since the “great recession” hit, people in the US have gotten into the habit of trying to save more money. This has paved the growth for new sites like groupon, which recently turned down a bid from Google and has raised half a billion dollars. In light of this new trend of saving money I…
Police and Fire Federal Credit Union (PFFCU) is offering a leading 3% APY 5 year CD, as well as a 2.5% APY 4 year CD and a 2% APY 3 year CD. The minimum deposit on all accounts is $500. The early withdrawal penalty is exceptionally harsh with losses of 360 days of interest. PFFCU…
BP is running a promotion where they give you a free $10 gas card when you fill up your car 5 times at their gas stations. The promo is called Thank You Days and is running until the 1st of March. To get the gas card you’ll need to register at the link in this…
It appears that Main Street Bank of Kingwood, Texas terminated a bunch of their CDs early on Christmas Eve a couple weeks ago. Their excuse for closing these accounts early is that FDIC regulations require strict capital requirements, and they must close these deposit accounts in order to meet their capital regulations. CDs are usually…
I thought I would share my Bromoney monthly earnings report with my readers. As someone who builds websites, I am always interested in hearing how much websites make and when I tell people that I make money through websites they’re always fascinated that I can actually do it. So I thought my readers might be…