HISTORICAL FACTS: Fdic - Caught on Camera

SoFi launches tokenized deposits for consumers with 4.2% interest as debate over stablecoins rages on

The offering comes amid a growing debate over the merits of stablecoins vs tokenized deposits.

Fortune · Oct 22

Your Bank Says a Deposit Is “Under Review” — How Long Can the Hold Last?

A deposit can appear in your bank account without being available to spend, which creates a particularly irritating kind of financial limbo. The money shows up on the screen, your balance looks healthier, and yet your rent payment or grocery purchase may still run into trouble.

The Free Financial Advisor · Oct 21

A London Power Failure Froze 70M+ Revolut Accounts and Exposed Digital Banking's Weak Spot

Google Cloud's London power outage disrupted 30+ services Oct. 20, freezing Revolut accounts for millions across the U.S. and Latin America

Latin Times · Oct 20

Savers Are Watching Interest Rates Again as the Fed Changes Direction

For people who spent the last few years hunting for the best savings account or certificate of deposit, interest rates are suddenly worth watching closely...

Saving Advice · Oct 3

Parents With Nothing Saved Inherit $340,000 — Their Adult Child Wants Control of the Money

Imagine your parents have reached retirement age with virtually nothing saved when an unexpected inheritance of $340,000 suddenly lands in their laps. Instead of feeling...

Saving Advice · Oct 1

What Happens to Unclaimed Money in an Old Bank Account?

Money sitting in an old bank account does not simply disappear because the owner stopped checking the balance. If an account remains inactive long enough, the bank may classify it as dormant and eventually transfer the funds to the state under unclaimed-property laws. The exact timeline varies by state and…

The Free Financial Advisor · Sep 22

What Happens When a Bank Account Sits Unused for Years?

An old bank account does not necessarily sit quietly forever. If you stop using a checking or savings account, the bank may eventually classify it as inactive or dormant, charge certain fees, close it, or transfer the remaining funds to a state as unclaimed property.

The Free Financial Advisor · Sep 21

What Happens to a Joint Bank Account When One Spouse Dies?

When a spouse dies, the checking account may seem like one financial detail that should be simple: both names are on it, so the surviving...

Saving Advice · Sep 19

What Happens If a Company Deposits Money Into Your Account by Mistake?

A surprise deposit can make a bank balance look much healthier, but money that a company deposits into your account by mistake does not automatically become yours. A payroll department might enter the wrong account number, a business might send a payment twice, or a company could simply make a…

The Free Financial Advisor · Sep 17

Fed Raises Rates a Quarter Point, First Increase Since 2023

The Federal Reserve raised its benchmark interest rate by a quarter percentage point on Wednesday, the first increase since July 2023. The Federal Open Market...

Saving Advice · Sep 16