What are the benefits of putting money in the bank?
• In the bank, your money is protected from theft, loss, or fire- unlike the money under your mattress. • You can easily access your cash when it is kept in a bank by visiting an ATM, getting cash back from a retailer, or by making a withdrawal at a bank branch. • You can set up your paychecks to be direct deposited into your account, which means you will have access to money you earn faster. • With a bank, you can pay your bills with checks or your debit card. Some banks even offer a service that allows you to pay your bills directly through their online system. Using a bank to pay bills is generally a cheaper option than purchasing money orders. You should never send cash in the mail as it is not protected from theft or loss. • Depending on the type of account you have and your financial institution, you may be able to earn interest on your savings. • The Federal Deposit Insurance Corporation (FDIC) or National Credit Union Administration (NCUA) insures most bank deposits up to an am
