All Topics > Financial Services > Savings Account Online >

Savings Account Online Georgia

Online savings accounts are savings accounts that a customer opens online and do business via the internet. Online savings accounts generally offer higher interest rates than traditional Georgia banks, and this website will explain these types of accounts in depth.

1. Local Companies

2. Savings Account Online - Info

3. Statement Savings

4. Certificates of Deposit

5. Featured Local Company

1. Local Companies

Alliance For Affordable Health Insurance
404-363-4272
5503 Oakwood Drive
Lake City, GA

l & l services
404-768-1696
1561 virginia ave ste 110a
college park, GA

Smith Barney
404-266-6535
3333 Peachtree Road NE
Atlanta, GA

VentureForth Partners, LLC
404-459-8574
P.O. Box 28656
Atlanta, GA

National Financial Services Group
770-512-5141
1050 Crown Pointe Parkway
Atlanta, GA

Home Equity Loan Products, Inc.
678-239-0788
975 Cobb Place Blvd
Kennesaw, GA

Finish Rich Now, LLC
1.800.958.6554
P.O. Box 550209
atlanta, GA

Primerica Financial Service
678-939-4201
810 Franklin Ct Se Suite J
Marietta, GA

National Lending Corp
(678) 778-4127
3490 Shallowford Rd NE Suite 200
Atlanta, GA

Prism Financial Strategies, Inc.
770-565-1720
4001 Hampton Ct
Marietta, GA

2. Savings Account Online - Info

With so many banks and other financial institutions opening websites, more people are getting into the habit of opening bank accounts of all types online instead of going into the buildings where they are housed. The Internet makes savings account online access fast, efficient, easy and safe. This practice allows customers to choose from a great many more sources, since they don’t have to be concerned about the location. Being able to open a savings account online gives one the opportunity to open an account anywhere in the world, though some institutions may have restrictions concerning the location of their customers. This means, in simple terms, that in most cases a U.S. resident will not be able to open a savings account at a U.K. based bank. Whether this holds true of all online banking centers remains unclear, but it is something you will need to research when you choose a bank where you wish to open a savings account.

Savings accounts are only one of the many types of accounts that you can open online, but they are probably the most popular. Savings accounts online are easier to maintain than savings accounts established at a physical bank—making deposits is easy and convenient and tracking the account is easy via the web. It was probably the inception of online banking centers such as ING Direct that inspired other banking institutions to offer customers the option of opening an account online. Since that time, even worldwide giant Bank of America allows customers to open an account online and forward funds later either through the mail or by visiting a branch in the city where they live. After all, with the rush to conduct so much business online, a bank needs to join with the flow of the others in order to stay competitive. Customers want to do their banking online today, and that includes opening new accounts. The fast-paced lifestyles of the 21st century require more options in banking, such as online access to accounts and the ability to transfer funds between accounts.

3. Statement Savings

The most popular savings account, at least for the average banking customer, is the statement savings account – formerly known as passbook savings at many institutions. This account requires a minimal balance, sometimes as low as $25, depending on the individual bank where you open the account. That doesn’t necessarily mean that you can’t maintain an account with a lower balance. However, if you do, one of two things will happen (and perhaps a combination of both): the bank will not pay you interest on your funds, and/or they may charge you a monthly maintenance fee for the account during each month that it is below the minimum balance requirement.

In spite of the minimum balance requirements, in most cases there are exceptions to this rule: student accounts, senior accounts, and accounts that fall under the Uniform Gift to Minors Act within each state. Another exception is an account for an employee of the bank, but these accounts usually require the employee to open the account through their Human Resources Department, though you can sign up for online access to make transfers between accounts. Before signing up for a savings account online it would prove beneficial for the individual if they review the various options and exceptions associated with such accounts: understanding how savings account online offers work ensures that the individual gets the most out of their invested and saved money.

Statement savings (or regular savings accounts) have the lowest rate of interest, and banks pay the lowest interest on these accounts, with savings and loans paying a higher interest rate. Credit unions tend to pay a higher rate than either banks or credit unions on the regular share account, which is the credit union account comparable to the statement savings account. Many people may be more familiar with this account, as it relates to an interest checking at the bank, because the credit union pays dividends on both the share account (savings) and share draft account (checking).

4. Certificates of Deposit

In addition to a statement savings account, financial institutions offer Certificates of Deposit (CDs). This monetary instrument pays a higher rate of interest than the statement savings account, has a higher minimum balance requirement, and must be kept on deposit for a specified number of months in order to avoid a penalty for early withdrawal. The interest rates vary on Certificates of Deposit and are contingent upon the face value and term of the CD. The lowest appears to be $500, however, in most cases, the lower the face value, the longer the term of the deposit. In many cases, one can find a $10,000 CD with only a three to six month term, but a $500 CD tends to have a term varying from twelve to thirty-six months. The reason for the difference is perhaps in the fact that it takes more time to obtain a return on the investment of a $500 Certificate of Deposit than it does on a $10,000 Certificate of Deposit, thus, your funds must remain on deposit longer for the $500 than the $10,000.

In the event that you need to withdraw the funds you have on your Certificate of Deposit, you must be aware there is a penalty for early withdrawal. The penalty is not just a reduced interest rate, but there is also a fee involved to process the withdrawal. To avoid paying a penalty for early withdrawal, you might want to consider keeping enough money in a statement savings account to cover any emergencies that might require additional funds. It is always advisable that an individual have a nest egg for any emergencies and a savings account online can serve as one’s nest egg. It may mean waiting a little longer to purchase a Certificate of Deposit, but you avoid a penalty by making a withdrawal from your savings account instead of cashing in your Certificate of Deposit before its expiration date.

5. Featured Local Company

Foresters and Foresters Equity Services

404-459-8800 x110
4151 Ashford Dunwoody
Atlanta, GA
www.foresters.biz

Read more about Savings Account Online

- Credit Card Processors Georgia
- Certificates of Deposit Georgia
- Does My Business Need to Accept Credit Cards? Georgia
- Online Banking Georgia
- Five Ways to Save on a Merchant Account Georgia
- Currency Trading - Top 5 Firms Georgia
- Factors to Consider When Choosing a Merchant Account Georgia
- Online Payment Gateway Georgia
- Defining the Different Merchant Account Types Georgia
- Credit Card Processing Georgia

Regional Articles

Related Local Events

The Concierge Seminar
Dates: 8/7/2008 - 8/8/2008
Location: Buckhead (Neighborhood)
Atlanta GA
View Details

ART ROCKS AFTER WORK SOCIAL
Dates: 8/21/2008 - 8/21/2008
Location: Jacqueline Casey Hudgens Center for the Arts
Duluth GA
View Details

BioPharm America 2008
Dates: 9/9/2008 - 9/10/2008
Location: Grand Hyatt Atlanta Buckhead
Atlanta GA
View Details

DAVE RAMSEY TOTAL MONEY MAKEOVER
Dates: 9/13/2008 - 9/13/2008
Location: ARENA AT GWINNETT CENTER
Duluth GA
View Details

The Franchise & Business Opportunity Expo
Dates: 10/11/2008 - 10/12/2008
Location: Georgia International Convention Center
College Park GA
View Details

Rate Article

Save to My Articles

Articles Insider

Advertising	Fashion	Nightlife
Business Services	Financial Services	Online Database
Career	Franchise	Real Estate Resources
Cars	Health	Software
Chamber of Commerce	Holidays	Technology
Computer Hardware	Home Appliances	Telecommunications
Construction	Home Electronics	Trade Shows
Education	Home Services	Travel
Educational Content	Internet	Weddings
Entertainment	Legal	World History
Family	Miscellaneous

Advertising	Educational Content	Home Appliances	Real Estate Resources
Business Services	Entertainment	Home Electronics	Software
Career	Family	Home Services	Technology
Cars	Fashion	Internet	Telecommunications
Chamber of Commerce	Financial Services	Legal	Trade Shows
Computer Hardware	Franchise	Miscellaneous	Travel
Construction	Health	Nightlife	Weddings
Education	Holidays	Online Database	World History

Searching...

Savings Account Online Georgia

1. Local Companies

2. Savings Account Online - Info

3. Statement Savings

4. Certificates of Deposit

5. Featured Local Company