online savings
Virtual bank account
Online savings refers to a savings account accessed and managed through the internet rather than at a physical bank branch.
These accounts typically offer higher interest rates because the bank has lower overhead costs: I moved my emergency fund to an online savings account for the better rate.
The term also describes money saved by shopping online, where digital coupons and price comparisons yield discounts: The online savings were substantial during the holiday sale.
- interestAttention, stake, or fee
- APYAnnualized compounded interest rate
- interest rateCost of borrowing money
- depositPlace for safekeeping
- direct depositFunds sent to account automatically
balance · digital · bank · money market · account · compound · yield · transfer · emergency · fund · rainy day fund · nest egg · high-yield · financial goals · mobile · app · FDIC · rate
- savingspiggy bank, emergency fund, rainy day fund, joint account, bank deposit
- bankingbank, banks, ATM, ATMs, account
online savingschecking account
Bank deposit for transactions
current account · money market account · credit card · brokerage account · investment account
online savingscredit card debt
Money owed on plastic
consumer debt · impulse buying · discretionary spending · cash withdrawal · living paycheck to paycheck
online, savings, line, saving, savers, saves, lines, lined, liner