Search for Open a Savings Account

2,161 results found

1. How Secure Are Your Financial Accounts And How To Protect Yourself
   It's a new year and we have a new President of the United States, but that doesn't mean that the world has changed all that much. Just like before, identity theft is on the rise, and more people than ever would love to get their hands on your Social Security number and account passwords. Much of this information is bou
2. What Employers Need to Know about 401(k) Plans
   In a tight labor market, businesses need a retirement savings plan to recruit and retain good workers. In fact, about 80% of Americans work for an employer with a 401(k)-style retirement plan. In the following conversation, Robert Diedrich, president-wealth management division, First Midwest Bank, discusses recent rule
3. Five Keys to Retirement Planning and Peace of Mind
   Getting ready for retirement requires planning. Here are some key ideas and strategies to keep in mind
4. Gearing Up to Be a First-Time Dad? 3 Money Moves to Make
   Becoming a dad is exciting. And you may be counting down the days until your little bundle of joy makes their entrance into the world.
5. Translating Passion to Business
   Meet Elizabeth Colon, who is an honoree of the 2020 Inspiring Women in Business program, sponsored by First Midwest Bank and 101.9 THE MIX. Elizabeth
6. How to save more when inflation makes your money count less
   When it comes to spending power, inflation means that things cost more and that your money becomes less valuable. When a period of high inflation hits
7. What Small Business Owners Need To Know About Filing And Paying Taxes
   Lots of wage earners only file tax returns once a year. But small business owners, including the self-employed, have additional taxes to worry
8. 5 Credit Score Mistakes You Can Easily Avoid
   Maintaining your credit score requires careful money management and attention to detail. Even the smartest consumers make simple mistakes that can
9. Tax Season Will Be Here Soon. 3 Tips to Prepare
   Taxes are the sort of thing many of us would rather not think about until we absolutely have to. And in that regard, there's some good news.
10. What is the difference between a debit and credit card?

    While both a debit card and credit card can be used to make purchases at stores or online, how they work is quite different.

    A debit card is tied to your bank account. When you use it to make purchases, money is withdrawn directly from your account. If you have no money in your account, the purchase won’t (or shouldn’t) go through.

    A credit card is a revolving line of credit, or a loan. When you use it to make purchases, the credit card company funds the purchase upfront. You can continue spending up to your credit limit without paying immediately. At the end of your billing cycle, your credit card company sends you a bill for the amount you owe. You then have the option of paying the minimum amount due (and paying interest on the remainder), paying your balance in full (and not being charged interest) or paying somewhere in between. As long as your account is in good standing, you can continue to spend up to your credit limit.

    Each type of card has benefits and drawbacks. A debit card is a safe option. It prevents you from falling into debt, since it won’t function if you don’t have any money in your account. However, should you need to spend a little extra, you won’t be able to.

    A credit card, on the other hand, gives you access to additional funds and it gives you the opportunity to build your credit, provided you pay your bill in a timely fashion. The potential risk is that you may end up paying high interest on the balance you don’t pay off, and, if you don’t make your regular payments, you may see your credit score drop.

    At Old National, we offer our clients both debit cards and credit cards.