A monthly service fee for a checking account will vary according to the number of checks that you have written and according to a minimum balance, as determined by individual banks. Ask about interest bearing accounts, service fees, and minimum balance accounts in order to choose which is most suitable to your needs. Savings Accounts Money not needed for monthly expenses can be placed in a savings account. This money will earn interest which is compounded quarterly or semi-annually. The amount of interest earned is added to the balance of your savings account.
Interest rates vary from bank to bank.
Investment accounts are also available, but require you to leave your money for longer lengths of time or pay a penalty fee. If you have jewelry or other valuables including passports, wills, stock certificates, leases, etc. You have access to your valuables anytime during banking hours. These items will be safe and protected in bank vaults. In the state of Washington, such institutions may charge a maximum interest rate of one percent per month on the unpaid balance.