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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. […]
What Is a High-Yield Checking Account?
https://www.sofi.com/learn/content/what-is-a-high-yield-checking-account/
A high-yield checking account is a secure place to deposit, store, and withdraw money, but with an enhanced interest rate vs. other similar accounts. Typically, money in a checking account doesn’t earn any interest — or maybe a nominal fraction of a percent. With a high-yield checking account, there’s the potential to turn your regular […]
What Is OASDI Tax on a Paycheck? OASDI Tax Limits Explained
https://www.sofi.com/learn/content/oasdi-tax/
OASDI tax on a paycheck is one of two taxes the IRS collects under the Federal Insurance Contributions Act (FICA). It stands for old-age, survivors, and disability insurance, and it’s designed to replace income lost due to retirement, disability, or death. Some people refer to it as Social Security tax. The other tax provides for […]