(StatePoint) While there’s no doubt that putting money aside with each paycheck is an essential component to a healthy financial future, it’s important to keep in mind that not all savings accounts are going to give you the same pay back or benefits.It’s estimated that American consumers are missing out on over $50 billion dollars of interest they could be earning every year. The average interest rate on savings accounts is 0.08 percent, according to the FDIC, with many of the largest financial institutions paying as little as 0.01 percent.But did you know that the top online banks have interest rates 20 times higher than the national average, according to rates published by the FDIC? Because they have no physical branches, they are often able to pass on that savings to customers through consistently competitive rates.“A traditional bank savings account is certainly a safe vessel in which to deposit money, but it won’t necessarily help that money … [Read more...] about Could Saving With An Online Bank Help Your Money Grow Faster?
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When Barclays Online Banking works properly it's great. You can transfer cash, check your balance, switch money to your savings or pay someone straight from your phone or computer. When it doesn't work it can leave you stuck, missing payments or accidentally falling into (or past) your overdraft. Right now Barclays customers are having trouble logging on - with the bank admitting "we are having a few issues at the moment" to customers on twitter. Barclays Help say they're working on it - but there are problems. "We’re on it and as soon as it’s fixed we’ll let you know. I’m sorry for any inconvenience caused," the bank's help team told one customer . So what can you do when Barclays online banking won't let you log on? Try again There might be a problem with your computer, rather than Barclays online banking. So don't give up straight away. You can head here to ask a question about logging on to Barclays online banking at the Barclays help centre. There's … [Read more...] about Barclays online banking down
When Barclays Online Banking works properly it's great. You can transfer cash, check your balance, switch money to your savings or pay someone straight from your phone or computer. When it doesn't work it can leave you stuck, missing payments or accidentally falling into (or past) your overdraft. So what can you do when Barclays online banking won't let you log on? Try again It might be a problem with your computer, rather than Barclays online banking. So don't give up straight away. You can head here to ask a question about logging on to Barclays online banking at the Barclays help centre. A quick way to check if it's a bigger problem than just you is to head to the Barclays Help twitter page where they respond to customer's questions. If there's a problem, you can bet they'll be responding to customers. You could even ask a questions yourself if you have a twitter account. Try the app If you can't log on as normal, try Barclays online banking app - or even download it to your phone … [Read more...] about Barclays online banking down? What you can do to get round it
YORKSHIRE Bank customers were locked out of their accounts after an online banking and app glitch left them struggling to log in. Frustrated customers were complaining about the outage on twitter from around half past nine this morning. Others were struggling to get hold of the customer service team over the phone too. The bank, which boasts 2.7million customers, has described the outage as "minor" and confirmed that the service is back up and running. One customer claimed that the service has been down for the past 12 hours, while others reported that the outage started this morning. Account holders were being shown "error" messages when they tried logging in online and via the app. One Yorkshire Bank customer wrote: "It won't let me log on. I do hope you're not planning to charge me for not transferring money when I should, because it's entirely your fault." Another said: "I'm trying to log into online banking and its saying sorry we can no longer assist you? Can you tell me what's … [Read more...] about Yorkshire Bank’s online banking and app crashes leaving customers unable to access accounts
By Nick Clements / MagnifyMoney.com After years of record low interest rates, a deposit pricing war has finally started. Rates at digital banks are up more than 70 percent over the past year. Sadly, competition is absent at traditional bank branches. Bank of America (BAC), one of the nation's largest banks, still pays only 0.03 percent on its standard savings account. But if you shop online for the best savings accounts, you can easily find much higher interest rates. Goldman Sachs (GS), famous for servicing the world's biggest companies and wealthiest individuals, launched an online bank called Marcus that welcomes people with a minimum deposit of $1. Its savings account pays a generous 1.80 percent APY, up from 1.05 percent a year ago. Goldman is facing intense competition from a number of other big players with deep pockets. Credit card issuers are increasingly using internet-only savings products to help fund their lending portfolios. American Express (AXP) pays … [Read more...] about Online banks lead the way in high-rate savings accounts