Tag: bank accounts

September 9, 2025 Off

Untangling Finances: A Guide to Splitting Joint Bank Accounts

When a relationship ends, a joint bank account can become a burden. Experts recommend discussing next steps together, potentially using a mediator or CDFA for financial advice. Contacting your bank to limit transfers is an option, but laws vary by location. It’s advisable to open a new, separate account at a different bank and gradually move funds, ideally taking only half initially. Dividing shared bills and protecting your credit by monitoring accounts are also crucial steps to ensure a fair and financially sound separation.

August 3, 2024 Off

Lost Interest: Navigating Savings Account Shifts

By The Admiral Staff

A reader’s high-interest savings account rate dropped after switching to a money market account at their credit union. The advice suggests checking if a minimum balance is required to earn a higher rate on the MMA, or exploring the possibility of splitting funds between the MMA (for any required minimum) and a high-yield savings account. The reader should also inquire about the reason for the MMA requirement and whether it’s necessary to maintain it alongside their CD.

February 11, 2024 Off

Freelance Finances: Your Bank Account Guide

By The Admiral Staff

The article compares the best bank accounts for freelancers, highlighting the unique financial needs of self-employed individuals who work on a per-task or project basis. It emphasizes the importance of factors like low fees, accessible customer service, mobile-friendliness, and business account offerings. The top recommendations are Axos Bank (best for online banking), Chase Bank (best for traditional accounts with branch access), PayPal (best for accepting payments), and Lili (an all-in-one solution with expense tracking and

November 6, 2023 Off

Freelance Finances: Your Bank Account Guide

By The Admiral Staff

October 11, 2023 Off

Stimulus Check Snafus: What Happens When Your Payment Goes Astray

By The Admiral Staff

If your stimulus check was sent to the wrong bank account—whether closed, overdrawn, or unrecognized—you will eventually receive your payment, but it will likely take longer. If the account is closed, the bank will return the check to the IRS, who will then mail a paper check. If an account is overdrawn, banks may apply the payment to the negative balance, though many have paused this practice. For those who received their refund via a tax prep service’s temporary account, the

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