Deposits to

the USA.

In America there are two types of establishments in which you can store money — banks (Banks) and so-called «savings and loan cash desks». Banks usually offer wider list of services, than savings and loan cash desks, but give slightly smaller percent on deposits. As a whole the difference between them is insignificant, and all subsequent information will concern both banks, and to cash desks, except those cases where it specially makes a reservation. Types of monetary deposits

 All types of monetary deposits can be divided conditionally into two main classes — savings accounts and check accounts. The difference between them is that, using accumulation on the check account, you can pay for the acquired goods or services by the check while savings accounts of such possibility don't provide though on them the bigger percent is usually paid. If you have in one bank both the savings and check account, it gives the chance to you to transfer operatively the necessary amounts from one account on another — as by means of bank employees, and is independent, via bank machine guns.

Check accounts happen four main types: Regular Checking, No-minimum Checking, NOW, SuperNOW. On deposits on Regular Checking and No-minimum Checking percent aren't charged. Both these accounts assume that from you will monthly hold a certain sum for services (Monthly Service Fee, or Monthly Charge), and also for each written-out check and removal of money from the account via the bank machine gun. The difference is that the monthly payment for contents of the account of the No-minimum Checking type doesn't depend on the size of your contribution while Regular Checking allows you to avoid similar expenses but only in case you support quantity of money on the account at a certain level (Minimum Balance). If you don't support this minimum level, the sum of monthly service charges will be higher, than for No-minimum Checking. The typical size of service charges of No-minimum Checking makes 3-4 dollars a month and 25 cents for each written-out check or removal of money through ATM. Some banks allow to write out certain number of checks in a month (usually from 4 to 8) free of charge, but take the raised payment for all subsequent checks — from 75 cents to one and a half dollars. In case of Regular Checking the Monthly Service Charge size can reach 10 and more dollars, and the payment for each written-out check usually makes from 25 cents to 1 dollar. The minimum size of the account, allowing to avoid such expenses, fluctuates from 500 to 10,000 dollars (the sums of 1,000 and 3,000 dollars are most widespread). Some banks offer Regular Checking without monthly service charges regardless of the sum being on the account (in New York, for example, Amalgamated Bank belong to such banks and Greater Savings Bank). Accounts of the NOW type (Negotiated Order of Withdrawal) and SuperNOW allow you both to draw checks in unlimited quantity, and to draw interest on deposits, however for this purpose it is necessary for you to support a certain minimum level of investments. Usually banks establish two minimum levels: one, lower, it is necessary to support in order that on our contribution percent were charged; another, usually higher, allows izbezhatyezhemesyachny service charges. The sizes of minimum levels and service charges for these accounts more than for Regular Checking, and No-minimum Checking, but such dependence remains only within one bank. If you compare data on many financial institutions, almost for certain will find bank, whose accounts of the NOW type are offered on more favorable conditions, than usual check accounts in other bank.
 The difference between NOW and SuperNOW is that SuperNOW offers higher percent on deposits and higher minimum levels. In case of NOW use on deposits it is usually paid from 3 to 5 annual interest rates, the payment for services makes from 4 to 20 dollars month, and a minimum level of the contribution, allowing to avoid additional expenses, hesitates from 500 to 5,000 dollars. On deposits on SuperNOW 5-7 % are paid, the payment for services remains approximately same, but the minimum balance happens essentially above — from 1,000 to 15,000 dollars (in most cases from 2,500 to 5,000).

Savings accounts happen the following main types: Regular Savings, Money Market, Certificates of Deposit (CD). The usual savings account — Regular Savings Account — offers the fixed annual percent on deposits (in the majority of banks from 4.5 to 6) and gives the chance to discount money at any time, but doesn't allow to draw the check. Percent on your contribution are charged regardless of quantity of money for accounts, but, to avoid additional service charges (usually from 4 to 10 dollars a month plus from 25 cents to dollar for each removal of money from the account), you should support a certain minimum balance (in the majority of banks from 500 to 5,000 dollars). Some banks offer also so-called SuperSaving Accounts along with usual savings accounts. On them the bigger percent (to 7-8), but they demand the bigger sum for opening of the account and higher level of the minimum balance (more often from 1,500 to 10,000 dollars) is paid.

Money Market differs from other types of deposits that the interest rate depends on fluctuations of the market of finance and can change every day (usually banks reconsider percent on deposits of times of this kind a week). Besides, from this account you can draw checks, but quantity them is limited — usually without an additional payment it is possible to write out no more than three checks in a month. Certificates of Deposit (CDs) — this semblance of "fixed deposits" in Gostrudsberkassa of the USSR. Such account opens for strictly certain time (usually from 3 months to 10 years). On it higher percent, than on other deposits (usually from 7 to 11 percent, depending on term) are paid, but in case of early removal of money you lose or all saved-up percent, or their essential part. Besides, each bank establishes the minimum CD size depending on term (the less term, the more minimum size of a contribution). The smallest possible sum of such contribution usually makes 500 dollars. As a rule, the annual percent on these deposits remains invariable, but some banks offer CD with the changing percent («Variable-Rate CDs»). The initial percent is established at higher level, than at CD with constant percent more often, but the risk of its fast fall is too great, and hardly it is possible to recommend to open such type of the account. One more, rather new, CD option — so-called «One Way CD». This account opens for a certain term with the fixed percent, but upon termination of term you have the right to prolong it on the same conditions. It means that if during this time level of an interest rate decreased, you can renew your account, having former, i.e. higher, percent. If level of an interest rate increased, you can already prolong your CD on new conditions or withdraw money and close the account. The client, thus, remains in a prize in any case.