Different Bank Accounts Special bank accounts. You know what I mean - any bank account that isn't a checking account. There isn't any big secret as to what they are, but if you don't understand them, then they probably won't work for you.
Savings accounts are the simplest way to save money.
This basic account is opened with a minimum balance set by each individual bank. There are usually exceptions for minors such as a lower or no minimum balance to open. Often a service charge is higher than any interest you would have earned during the same period. No, not a musical CD, or I'd be a much richer person today if that were true. It is truly a certificate.