Changes

==Depositing==

==Depositing==

 

While banks can charge fees for services, mostly people depositing [[money]] in a bank will seem to see the amount of that money slightly increase over a long time due to [[interest rate]]s that the bank will pay. However, for several years now the [[inflation rate]] (see also [[Consumer Price Index]]) is greater than the interest money paid by the banks, thus one actually loses money compared to investing in [[tangibles]] or [[inflation hedge]]s. Popular avenues for storing money are in [[checking account|checking]] or [[savings account|savings]] accounts.  Generally speaking checking accounts allow the writing of checks while savings accounts will not.  Savings accounts will generally pay a greater interest rate.

While banks can charge fees for services, mostly people depositing money in a bank will see the amount of that money increase due to [[interest rate]]s that the bank will pay. Popular avenues for storing money are in [[checking account|checking]] or [[savings account|savings]] accounts.  Generally speaking checking accounts allow the writing of checks while savings accounts will not.  Savings accounts will generally pay a greater interest rate.

Banks can also offer [[certificates of deposit]] where the money is tied up for a set length of time earning a set interest rate.  Generally speaking, the longer the period of time the money is tied up, the greater the interest rate it will earn.

Banks can also offer [[certificates of deposit]] where the money is tied up for a set length of time earning a set interest rate.  Generally speaking, the longer the period of time the money is tied up, the greater the interest rate it will earn.