A substantially larger proportion of banks and savings associations offer a simple statement account than the equivalent passbook account
For the passbook account
, both the monthly low-balance fee and the minimum balance required to avoid the fee increased significantly and by percentages that exceeded the increase in the CPI during the period.
SAVERS who insist on traditional passbook accounts
could be missing out on many of the best deals on offer.
Throughout the period, savings accounts with this fee structure were more commonly offered by banks and savings associations as statement accounts than as passbook accounts
, and the proportion of savings associations offering the statement account increased significantly during the period (table 2).
Even so, not one of the biggest savings groups offers an unrestricted passbook account
paying a decent rate to the small saver.
He again endorsed it over to his friend, and had her deposit it in the same passbook account
Just as CF now offers a complete menu of sophisticated eBusiness tools to its smallest customers, a bank offers a full range of online services to customers who may have as little as $100 in a passbook account
Often this is achieved by moving from a passbook account
to one operated over the phone - much cheaper for the Halifax and convenient for those are are content to handle finances this way.
He again endorsed it over to Lawrence, and had her deposit it in the same passbook account
This will enable customers on the move to shift money from their passbook account
to a current account where they can withdraw it through a cash machine.
Saving money in a bank passbook account
or certificate of deposit is like hitting a single or double; Investing in well-chosen investments with good historical performance is the financial equivalent of a home run," she says.
The lowest rate comes from a passbook account
, which is correspondingly more expensive for the bank to run.