ChexSystems ChexSystems is a financial service that helps banks and credit unions identify customers who may pose a risk to the institution. The service provides a database of information on consumers who have been reported for fraudulent or abusive behavior. This information helps financial institutions make informed decisions about approving new accounts, issuing loans, and … Read more

APY vs Interest Rate When you’re signing up for a checking or savings account, the first thing you are likely to review is the account’s APY and interest rate. They may seem similar but they are actually two very different terms. An interest rate is the percentage of your deposit that banks pay you in … Read more