Why Should You Open a Savings Account?

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9/2/2021

Why Should You Open a Savings Account? | fidomoney US | Business

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Why Should You Open a Savings Account? by fidomoney US | Sep 2, 2021 | Business, Business News, fidomoney US, Finance, Fintech

If you are trying to get better about saving your money and keeping it safe for the future, opening a savings account is a smart move. Here are just a few reasons why. Savings Accounts Are Secure If you’re concerned about financial safety, you’ll be happy to know that most savings accounts are safe and fully insured. Granted, you’ll still need to open an account with a reputable financial institution, but as long as you go through a bank that is insured by the Federal Deposit Insurance Corporation, you can be reasonably sure that your money will be safe. The Federal Deposit Insurance Corporation or FDIC ensures all bank deposits up to $250,000. According to the FDIC, no customer has lost any of their deposits since the organization’s creation in 1933. Any bank that is FDIC-insured will be up-front about this information, so don’t be afraid to ask before opening a savings account.

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