Banking

Banking consists of the products and services people use every day, including financial institutions such as lenders or credit unions. It also includes an array of financial services such as cashing checks, borrowing, loaning, buying, selling and investing. Whether you’ve been putting your money in a high-yield savings account or in a piggy bank, you’ve been banking.

Not all banking is created equal, and the right financial choices aren’t always the obvious ones. GOBankingRates was created to help you make informed financial decisions.

No matter how big or small the denominations are, the way people bank greatly influences the economy — by paying for or investing in goods and services, people’s banking choices determine supply and demand, drive commerce, and decide market value. Whether you’re choosing the best bank or learning how to set up direct deposit, GOBankingRates is here to help.

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Most Read Banking Articles

Are Banks Open on Black Friday 2016?

Find out which credit unions and banks are closed on Black Friday.

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How Do Credit Unions Make Money?

Find out how not-for-profit credit unions make money and how that translates into better rates for you.

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5 Ways to Set Off Your Own Fraud Alert

These five spending habits can trigger a red flag on your own credit card or bank account.

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Venmo App vs. Square Cash App: Which Is Better?

The Venmo and Square Cash peer-to-peer money transfer apps are a lot alike, but their differences warrant a closer look.

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Are Banks Open on Thanksgiving 2016?

Find out if your bank is closed on Thanksgiving Day.

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What Is Early Warning Services?

EWS and other consumer reporting companies exist to prevent bank fraud. Learn how their reporting could affect your financial life.

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10 Highest-Paying Bank Jobs

From portfolio managers to asset managers, find out which bank jobs pay the most.

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10 Best Military Banks and Credit Unions of 2016

Check out what these banks and credit unions offer military members and their families.

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The Difference Between Banks and Credit Unions

Both operate on similar terms with some differences. Banks and credit unions are financial institutions where deposit and loan products can be obtained. Because national banks are bigger than credit unions, they have the financial backing to offer higher interest rates, better customer incentives, and more branch locations. Credit unions, on the other hand, are nonprofit cooperatives where account holding members become shareholders in the organization. So while a credit union may be smaller in scope than a great deal of banks, customers have more stake, or share, in the organization’s financial future.

With both types of banking establishments, all deposits up to $250,000 are insured under federal law — for banks, the insuring agency is the Federal Deposit Insurance Corporation (FDIC), and for credit unions, the National Credit Union Administration (NCUA).

 

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

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