Getting The Most Out Of Your Commisary Bank

by David Jenyns on June 3, 2009

Investing in a commisary bank (with a checking and savings account, for example) is a great start for a first-time investor. In fact, younger and younger adults are opening checking and savings accounts to save for their futures.

The costs for a checking account are not high and are figured, in most cases, by reference to the average balance of the account and/or the number of transactions (checks drawn and deposits made). This differs from savings funds, which are termed “time deposits,” since, legally, their withdrawal may be restricted.

The savings or thrift account, as operated by most banks, is an excellent depository for surplus funds. Over 90 per cent of present day commisary banks are members of the organization.

Overactive accounts are usually penalized, since the bank cannot operate as profitably if the funds available to it for investment are constantly fluctuating.

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