2845 Search Results
Does Opening a Checking or Savings Account Affect Credit Score?
https://www.sofi.com/learn/content/does-opening-a-checking-or-savings-account-affect-credit-score/
In most cases, opening a checking or savings account is not reported to the major credit reporting bureaus and will not have an impact on your credit score. The same holds true for normal bank transactions and account balances. That said, there may be some cases when a bank will perform what is known as […]
Checking vs Savings Accounts
https://www.sofi.com/learn/banking/checking-account-vs-savings-account/
The main differences between checking and savings accounts is that checking accounts are for spending and come with a debit card and checks, while savings accounts are a place to stash and grow your money via interest earned but your access may be more limited. These two kinds of financial products can form the foundation […]
What’s the Difference Between a Certified Check and a Cashier’s Check?
https://www.sofi.com/learn/content/certified-check-vs-cashiers-check/
If someone needs to make or receive a payment via check, both cashier’s checks and certified checks can offer a more secure option than a personal check. That said, there’s an important difference between a certified check and a cashier’s check. With the former, the payer backs the check; with the latter, the bank guarantees […]
How Long Does It Take for a Deposited Check to Clear?
https://www.sofi.com/learn/content/how-long-does-it-take-for-a-check-to-deposit/
Despite the increasing popularity of digital payments, you may still receive the occasional paper check. The good news: You’ve come into some money. The not-so-good news: It may take a day or two (possibly even longer) before you can actually access those funds. The time it takes for a check to clear can vary depending […]
How to Write a Check: A Step-by-Step Guide
https://www.sofi.com/learn/content/how-to-write-a-check/
The basic steps of check-writing sound pretty straightforward: Fill out the date, amount, payee name, and add your signature. There are, however, right and wrong ways to complete this process. And, despite the current age of online banking, there may still be times when you need to write checks and want to do so correctly. […]