Daily Mirror’s Post

Are you tired of getting pennies compared to the amount of money you have in your savings or sitting in your account?🤔🤔 Instead of getting a few cents at the end of the month, open a high yield savings account where you can get up to 5.60% APY. Choose between 2 banks SoFi or Bask Bank. No monthly fees No minimum deposits required No minimum balance to earn APY. Want to start saving more, click the link to choose the best option for you or DM and I’ll sent direct link. Only takes a few minutes to join. https://lnkd.in/eg3Vvp9u

Set a time each day to check your bank account for any irregularities! A solid practice is to keep most of your balance in a savings account (that you can freely transfer back and forth) and a minimal balance in your checking. This way, if someone would hack your card, they wouldn't wipe out the majority of your savings.

THIS! So important. Local decisions made by local bankers to help our local communities. Can’t get better than that! #banklocal #localbank #communitybank #banking #privatebanking #businessbanking #commercialbanking #chattanooga

Banks make money through various means, but one primary way is through the interest they charge on loans. When customers borrow money from the bank, they pay back the loan amount plus interest over time. The interest charged on loans generates revenue for the bank. Additionally, banks earn money through fees charged for various services, such as account maintenance fees, overdraft fees, and transaction fees. These fees can add up to significant revenue for the bank, especially when multiplied by the large number of customers they serve. Furthermore, banks can also make money through investments. They invest funds deposited by customers in various financial instruments like bonds, stocks, and other assets, aiming to generate returns higher than the interest they pay to depositors. This difference between the interest earned on investments and the interest paid on deposits is known as the net interest margin, which contributes to the bank's profits. Overall, banks employ a combination of lending, fees, and investments to generate revenue and make money. #bankingsector #howbankswork #secrets

Yes, if the bank is lending you money the bank wants your deposits. Yes, it’s a business decision you need to make since you’re basically taking a loan cut to keep the funds in the bank. Most banks will allow you to put the money into an interest bearing account, and will allow the funds to be held as an average daily balance. That means that if the deposit request is $500k, you can put $1.5mm in for a third of the month and nothing the rest of the month. In the past, when there were hundreds of banks in the market, only very few banks required this. For various reasons, as we’ll explain in a separate post, this is no longer the case. If you are liquid enough, a depository relationship in todays market is definitely worthwhile.

It only takes one call to Homesec on 1300 938387 and less than 24 hours to receive the funds into your bank account. #businessloans #businessowners #smallbusiness #businessfunding #privatelending #commercialfinance #assetfinance #commerciallending

Don't keep your hard earned #savings 💰 in a retail bank where interest rates average 0.46%!!! You can 10X 🤩 your interest earned with a few clicks. Any #money not immediately needed, such as your #emergencyfund , should be held in a high-yield savings account (HYSA) where you can get 4.25% or more 🚀 #personalfinance #investing #saving

If you opened a savings account with an online bank to take advantage of a high-interest rate offer, you might want to check in with your lender about their current account offerings and rates. Learn why you could unknowingly be stuck at a low rate: https://bit.ly/3OVF7VY #highyieldsavings

Everbank. For those MBAs: this bank is a case study for how to frustrate customers and lose their businesses. To open a saving account, the process takes over a week. You are treated as same as if you want to borrow money. I agree that the bank needs to be sure that the borrowers can pay back the loan. What I don't understand is why such a long process for getting money into Everbank. Any thoughts?