Skin microflora isn’t the only thing that can grow on you. Films can too. The internet identified several undeniably great films they weren’t feeling the first watch. After a few more viewings, though, initially wary film fans recognized these movies’ excellence.
1. The Big Lebowski (1998)
Dude, how can you not love The Dude? To be fair, Jeff Bridges’ protagonist in The Big Lebowski is so ridiculous and so dedicated to the word “dude” that I understand how many would see the movie as too much.
Similarly, over-the-top characters like John Turturro’s Jesus Quintana and John Goodman’s Walters Sobchak may take multiple viewings to appreciate.
2. No Country for Old Men (2007)
Movies from the Coen Brothers age like fine wine. According to some, No Country for Old Men was No Movie for For Them.
The 2008 Best Picture Oscar Winner received heaps of praise and was one of the must-see movies of its era. Therefore, the relatively slow pacing and the unconventional ending surprised action-seeking filmgoers. Because, honestly, what else could they possibly complain about when it comes to No Country for Old Men?
3. Napoleon Dynamite (2004)
“What are you going to do today, Napoleon?”
“Whatever I feel like I wanna do, gosh!”
Between the unforgettable comedic dialogue, oddball characters (Kip, Uncle Rico, and the llama Tina stand out), and utterly virgin-esque mannerisms of Napoleon himself, Napoleon Dynamite became an unlikely smash comedy.
However, the low-budget comedy didn’t land the first time with many viewers who didn’t understand the hype. With maturation and multiple re-viewings, they came to appreciate Napoleon’s brilliance.
4. Office Space (1999)
Mike Judge’s brand of comedy isn’t for everyone, and Office Space clearly targeted the cubicle-dwelling audience. A one-time critic said that Office Space seemed foreign the first time they watched it, but rewatching the movie after working an office job significantly elevated the film’s comedy.
5. The Godfather (1972)
One confessional cinephile admits they were an uncultured, 16-year-old neanderthal when they thought The Godfather was slow and tedious. They grew up, changed their mind, and thus we can forgive their youthful ignorance.
6. Vertigo (1958)
The acclaimed thriller from Alfred Hitchcock was not as “scary” as some viewers expected. Upon further review, converted fans of Vertigo came to appreciate the movie’s before-its-time cinematography and plot structure.
7. Whiplash (2014)
Truly one of the most shocking submissions on the internet’s list of films that did not immediately impress, Whiplash received near universal acclaim from audiences.
A one-time critic explained they missed a critical plot point at the movie’s end. The critic immediately became a Whiplash fan when they caught the subtle scene on second viewing.
8. The Life Aquatic with Steve Zissou (2004)
Writers Wes Anderson and Noah Baumbach are not for everyone, and The Life Aquatic With Steve Zissou is one of Anderson’s more ambitious films. The director’s brand of quirky, at times awkward comedy has a way of growing on viewers like that mole you’ve been meaning to have your dermatologist check out.
9. Step Brothers (2008)
Some viewers still don’t appreciate the artistry of two full-grown, established comedic actors playing infantile stepbrothers. While nobody claims Step Brothers to be a highbrow comedy, the absurdity of DIY bunkbeds and drum-set therapy becomes more comedic as the world grows increasingly serious.
10. Miami Vice (2006)
Viewers were absolutely pumped for a Miami Vice reboot starring box-office draws Colin Farrell and Jamie Foxx, directed by accomplished filmmaker Michael Mann. Many were expecting a South Beach-ified version of Heat yet encountered a more deliberate, artful movie.
With time, many have come to appreciate Mann’s rendition of Miami Vice as a quality film, though the initial disappointment still lingers in the film’s IMDb rating.
Source: Reddit.
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We’ve all heard the famous adage that “no publicity is bad publicity,” and while it tends to be accurate, there are certainly exceptions. But what about those few stars who stay out of the limelight and get along without a hint of trouble?
These 7 Celebrities are Genuinely Good People
Have you ever known someone and thought you liked them—until you learned about their hobbies? Then you get to know them and then you’re like, “Wow, red flag.” Well, you’re not alone.
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Some celebrities definitely seem to enjoy the limelight and keep working to stay in the public eye. While others quickly move out of the spotlight. Many of these actors and actresses stepped out of the spotlight to live a more private life without constant media pressures.
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We’ve all been there – sitting through a movie that we can’t help but cringe at, but somehow it still manages to hold a special place in our hearts.
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In 2019, Amazon overtook Apple and became the world’s most valuable brand. Since then, the retail giant has continued to maintain its status as a top global brand, and happy customers aren’t the only ones who’ve noticed.
As Amazon’s revenue climbed, scammers watched from the shadows. In the past few months alone, AARP’s Fraud Watch Network helpline (877-908-3360 toll-free) has witnessed a dramatic spike in Amazon scams targeting U.S. consumers, jumping from 10-30 million robocalls each month to a whopping 150 million!
As scammers claw for our personal and financial information, it’s more important than ever to be prepared. Take a look at the list below for five common Amazon scams and tips for how to spot them before it’s too late.
What’s Ahead:
1. “Suspicious activity on your online account”
Ironically, some scammers trick unsuspecting victims into giving their personal information by pretending the consumer has already been scammed.
The tactic here is fear-based, scaring consumers to act fast. You might receive a spontaneous robocall reporting “suspicious activity” on your account (a missing package, an unusual order, etc.). The caller may ask you to “press one” or call another number to speak to a customer support representative that can address the issue. Don’t fall for it!
The next caller will likely solicit your account information and may even try and prompt you to install remote access software, giving them full access to your device.
2. Fake order confirmations
It’s perfectly normal to receive an order confirmation email from Amazon, so some scammers fool users by sending fake confirmation emails with items the user did not purchase.
Once again, scammers are relying on the user’s panic. You may think your card’s been (or will be) charged for an item (or even an Amazon Prime subscription) that you did not order. These messages have a phone number you can call or internal links you can click on to log in to your account and cancel the order. The reality, however, is those links lead to a fake login page, designed to capture a user’s login credentials.
Instead, leave your inbox and log in to your Amazon account via your web browser. Check “Your Orders” to see if there’s anything that matches the email. If you can’t find a match, odds are you’ve been targeted by a scammer and should report the message to Amazon.
3. “Congratulations! You’ve won a prize!”
Another trick of the trade scammers may use to steal your information is the fake prize message. Perhaps you’ve won a raffle or are eligible for an attractive discount. Whatever you do, don’t bite.
This classic phishing scam uses a victim’s joy and excitement against them, but the strategy is quite similar to the “order confirmation” scam. The text or email often includes a link consumers can click to redeem their prize and arrange for its delivery. Once again, scammers use the link to capture and steal your information, so avoid clicking on any suspicious links. Instead, log in to your account and/or call Amazon’s customer service center for assistance.
4. “Please send Amazon gift cards”
This scam may sound unusual, but unfortunately, it’s both common and complex.
In fact, scammers use Amazon gift cards for a variety of scams. Instead of posing as an Amazon representative, the scammer may pretend to be someone you know, such as a co-worker or boss, or perhaps even a relative. The scammer may request Amazon gift cards for a family member who’s facing an emergency or a contribution to a co-worker’s birthday gift. You may be encouraged to purchase Amazon gift cards as payment for an online product or as payback for an alleged fine or bill.
While there are a number of ways scammers use gift cards to steal your money, you should always be wary if a caller (even a caller you “know”) requests Amazon gift cards.
5. Fake Amazon listings
If you ever spot an Amazon deal that’s too good to be true, don’t be so quick to “Add to Cart.”
These supposedly stellar bargains can be difficult to catch. Some scammers even hire accomplices, who purchase the product and ship it to a random consumer so they can write a fake review. As a result, these products have not only attractive price tags but also great reviews as well. (This helps to convince shoppers that the seller is legitimate).
My husband Steve received a handful of Amazon packages addressed to “Sev” last year, all of which were likely purchased and shipped indirectly by the seller.
The good news is Amazon can often catch these devious sellers before shoppers have a chance to “Buy Now.” The bad news is the scam still happens, so make sure you know how to spot these phony listings.
How to spot an Amazon scam before it’s too late
Scammers are good at what they do, but there are still plenty of red flags you can watch out for to protect yourself from falling for their tricks. Here are some common signs of scammers and tips to help you catch them in the act:
Poor grammar, spelling, and punctuation (in texts and emails).
The message requests that you log in to your account via email.
The message requests payments to be made outside of the Amazon website.
The caller requests remote access to your electronic device.
The message asks you to verify sensitive personal information.
The message offers a refund you were not expecting.
You receive an order confirmation for an item you did not purchase.
The message asks you to update payment information (not linked to an order you placed or service you subscribed to).
The email address does not end in “@amazon.com.”
What to do if you suspect you’re being scammed
If you’re suspicious of a call, email, or text that claims to be from an Amazon representative, do not respond. Instead, visit your account online to see if the message or call you’ve received is accurate, and contact Amazon customer service to verify (only use the contact information listed on Amazon’s site).
If you’re concerned a scammer may already have your account information, change your password immediately. Additionally, if the scammer may have your bank information, contact your bank for help figuring out the next steps in order to protect your account. To prevent future scams, consider downloading a call blocker. Amazon also suggests their users set up two-step verification to protect their accounts.
Finally, report any suspicious calls, emails, or texts to Amazon, as well as the Federal Trade Commission (FTC) to help inform and protect other Amazon customers.
Summary
“You’ve won a prize!” “This call is to inform you of suspicious activity on your Amazon account.”
Messages like these are truthful at times, but they’ve also become common introductions used by thousands of scammers to steal your information.
To protect yourself from a scammer’s traps, make sure you’re aware of common scammer tactics and strategies. Be skeptical of suspicious messages, and if you’re worried a scammer may be targeting you, report them to Amazon, as well as the Federal Trade Commission (FTC).
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Last Updated: May 26, 2023 BY Michelle Schroeder-Gardner – 13 Comments
Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.
Mystery shopping. Many of you have emailed me and asked me the question “what is mystery shopping” and have been wondering how I am making money through mystery shopping.
I usually make around $150 to $200 a month from mystery shopping.
Side note: If you are interested in the many other ways I earn extra money, check out my Extra Income page on my blog.
I use mainly Bestmark for my mystery secret shops. I’m not sure what other companies are good and reputable mystery shopping websites, but I know for a FACT that Bestmark is a legitimate mystery shopping website, so you can trust me when I say that.
Last month I didn’t make too much because not a lot of “good” shops were offered in my area. Lately, I’ve been a little more picky with the shops that I sign up for also.
What I consider a worthwhile shop for ME:
Either an online shop or phone call shop
If I have to drive, it’s close to somewhere I’ll be
Something I’ll use. I love doing Estee Lauder shops because I always love free makeup.
Restaurant shops, because I have to eat, of course.
Of course, what’s worthwhile to you and me might be different. When I first signed up for mystery shopping (sometime last summer I think), I literally signed up for everything. I made decent money, but it wore me out. The amount of surveys that you have to do is so repetitive that it makes you want to throw your computer at the wall.
Sometimes surveys take just a minute, but sometimes they literally take an hour. Restaurant shops usually take a little longer than others because usually you are grading every little detail.
Some examples of mystery shops I’ve done include:
Restaurants. This ranges from cheaper restaurants where I’m reimbursed for around $30 worth of food, all the way up to nice steakhouses where I get $100.
Dealerships. Bestmark has a ton of dealership shops available, but I only have done the phone call and scheduling services online secret shops.
I usually do about 4-5 of these a week and these are the easiest shops. You don’t have to drive anywhere and the surveys literally take one minute. And you get paid around $5 for them. Although recently they’ve lowered the payment to only $3, and there’s a ton more work involved. I had to cancel around 3 or 4 shops because they didn’t make it clear enough about the amount of work that I signed up for. And for $3, I’m not really willing to do too much.
They also have dealership secret shops where you go in and pretend you want a car. These usually pay around $20. This is something I’ve never done, and they have plenty of these available for everyone to do. I’ve never done this because car salesmen scare me. I’m not ready for thousands of annoying phone calls and I’m afraid that I’d be stuck in a dealership for an hour while trying to run away from the salesperson.
Retail. I mainly do Estee Lauder. I’ve done a lot of these. I’ve gotten foundation, lotion, toner, face wash, concealer, lip gloss and so on, all for FREE! And these aren’t sample sizes, I’ve probably gotten over $200 in stuff, plus gotten paid around $10 on top for each shop as well.
I’ve also done a couple of Best Buy shops. These are easy too. You just survey a certain department (takes like a minute), and then you can just buy something small like a candy bar so that they have your receipt for proof that you were actually there and performed it. Best Buy shops usually pay around $13. Not a ton, but the Best Buy is along the way home from my work so I just pop in.
This is a mystery shopping check from one week’s of mystery shopping.
The highest paid shops I do are usually for restaurants. I’ve done a couple of nice restaurants where I had to eat over $100 worth of food. Crazy! I’ve also seen Hotel mystery shops, but they’ve never been on a good day for me, so I’ve never been able to sign up.
Also, if you find that you cannot do a shop that you sign up for, all you do usually is contact your scheduler and say you need to reschedule or cancel. Try not to do this too often though. These schedulers will remember you, and if you’re good to them, they will give you good shops, so remember that!
Mystery shopping money will NOT make you rich. I want to make that clear. It’s just a nice form of side income, where I can get things I want for free! What I make from mystery shopping, I add to my vacation fund. So it’s a nice little addition every month.
If I want to eat at a nice restaurant that I would usually go to, then YES I would love to do a secret shop there. Those are always the greatest shops because you are paid to have fun.
Do you secret shop such as through Bestmark? Any tips?
Also, if you join Bestmark, please say I referred you! My ID is MO4999. You can join Bestmark by clicking here.
If you are new to my blog, I am all about finding ways to make and save more money. Here are some of my favorite sites and products that may help you out:
Cut your TV bill. Cut your cable, satellite, etc. Even go as far to go without Netflix or Hulu as well. Buy a digital antenna (this is the one we have) and enjoy free TV for life.
Start a blog. Blogging is how I make a living and just a few years ago I never thought it would be possible. I earn over $30,000 a month online through my blog and you can read more about this in my monthly online income reports. You can create your own blog here with my easy-to-use tutorial. You can start your blog for as low as $3.49 per month plus you get a free domain if you sign-up through my tutorial.
Lower your cell phone bill. Instead of paying the $150 or more that you spend on your cell phone bill, there are companies out there like Republic Wireless that offer cell phone service starting at $5. YES, I SAID $5! If you use my Republic Wireless affiliate link, you can change your life and start saving thousands of dollars a year on your cell phone service. I created a full review on Republic Wireless as well if you are interested in hearing more. I’ve been using them for over a year and they are great.
Sign up for a website like Ebates where you can earn CASH BACK for just spending like how you normally would online. The service is free too! Plus, when you sign up through my link, you also receive a free $10 gift card bonus to Macys, Walmart, Target, or Kohls!
Save money on food. I recently joined $5 Meal Plan in order to help me eat at home more and cut my food spending. It’s only $5 a month (the first two weeks are free too) and you get meal plans sent straight to you along with the exact shopping list you need in order to create the meals. Each meal costs around $2 per person or less. This allows you to save time because you won’t have to meal plan anymore, and it will save you money as well!
Answer surveys. Survey companies I recommend include American Consumer Opinion, ProOpinion, Pinecone Research, Opinion Outpost, Survey Spot, and Harris Poll Online. They’re free to join and free to use! You get paid to answer surveys and to test products. It’s best to sign up for as many as you can as that way you can receive the most surveys and make the most money.
Use Swagbucks for your online searches. Swagbucks is something I don’t use as much, but I do occasionally earn Amazon gift cards with very little work. Swagbucks is just like using Google to do your online searches, except you get rewarded “points called SB” for the things you do through their website. Then, when you have enough Swagbucks, you can redeem them for cash, gift cards, and more. You’ll receive a free $5 bonus just for signing up today!
Try Digital Voice. Another one you may be interested in related to Swagbucks is Nielsen Digital Voice. Digital Voice is a part of Nielsen, which I’m sure you’ve heard of. All you have to do is surf the web and you may be able to start earning money.
Try InboxDollars. InboxDollars is an online rewards website I recommend. You can earn cash by taking surveys, playing games, shopping online, searching the web, redeeming grocery coupons, and more. Also, by signing up through my link, you will receive $5.00 for free just for signing up!
Find a part-time job. There are many part-time jobs that you may be able to find. You can find a job on sites such as Snagajob, Craigslist (yes, I’ve found a legitimate job through there before), Monster, and so on.
The ratio of borrowers 60 days or more past due on their mortgage fell for the second straight quarter, according to credit bureau TransUnion.
The national delinquency rate fell to 6.67 percent in the second quarter, down marginally from 6.77 percent a quarter earlier, but still 14.8 percent higher than the 5.81 percent rate seen a year earlier.
Nevada continued to lead the nation in late mortgage payments with a delinquency rate of 15.86 percent, followed by Florida at 15.02 percent.
The Dakotas held onto the lowest mortgage delinquency rates, with just 1.51 percent of homeowners in North Dakota behind and 2.23 percent in the South struggling to keep up.
“TransUnion believes that the 60-day mortgage delinquency rate will likely continue to drift downward in 2010, possibly nearing 6.4 percent nationally by the end of the year,” said FJ Guarrera, vice president in TransUnion’s financial services business unit, in a press release.
“Note that this forecast is based on various economic assumptions, including the assumption that both real estate values and the unemployment picture will improve gradually. This forecast would certainly change if there are unanticipated shocks to the economy affecting the recovery in the housing market,” said Guarrera.
There’s also the big question as to the long-term success of loan modifications, which some believe will re-default at a rate as high as 75 percent.
Nationally, the ratio of borrowers 90 or 120 days or more past due fell from where it was last quarter, the first time that has happened since the recession began in 2007.
Again, only time will tell if this is just a blip thanks to all the anti-foreclosure efforts, or a long-term trend.
TransUnion also noted that mortgage originations plummeted nearly 50 percent year-over-year in the second quarter, with the largest drops in Idaho (-58.7%) and Washington (58.6%).
When lenders ask borrowers to list their assets during the mortgage application process, they’re looking primarily for cash and “cash equivalents” (assets that can be quickly converted to cash). But that doesn’t mean you can’t or shouldn’t include other types of assets on your application.
The assets you choose to include could help determine the type of mortgage you can get and the interest rate you’re offered. So it’s important to be prepared with a well-thought-out list of assets for your lender.
What Is Considered a Financial Asset?
When you apply for a loan, you can expect your lender to ask about your income, the debts you owe, and the assets you own. What’s an asset? In the broadest sense, a financial asset is anything you own that has monetary value and can be turned into cash. But all assets are not created equal when it comes to borrowing money.
First-time homebuyers can prequalify for a SoFi mortgage loan, with as little as 3% down.
Types of Financial Assets
Some assets can take longer to liquidate than others, and the value of some assets may change over time. So it can be helpful to break down your assets into different categories, including:
Cash and Cash Equivalents
This category includes cash you have on hand (in a home safe, for example); the accounts you use to hold your cash (checking, savings, and money market accounts); and assets that can be quickly converted to cash (CDs, money market funds).
Physical Assets
A physical or tangible asset is something you own that can be touched and that would have some value if you had to sell it to qualify for your loan or to make your loan payments. (If you need to use this type of asset to qualify for a mortgage, the lender may ask you to sell it before you close.) Some examples of physical assets include homes, cars, boats, jewelry, or artwork.
Nonphysical Assets
Nonphysical or nontangible assets aren’t as liquid as physical assets, and you can’t actually put your hands on them — but they still have value. This category includes workplace pensions and retirement plans (401(k)s, 403(b)s, etc.), and IRAs. You may be able to withdraw money from your account in certain circumstances, or borrowing from your 401(k) might be an option, but it can take time as well as careful planning to avoid tax and other consequences.
Liquid Assets
This category includes nonphysical assets that you can easily convert to cash if necessary. For example, a stock or bond that isn’t part of your retirement account would be considered a liquid asset.
Fixed Assets
Fixed assets are items you own that could be sold for cash, but it may take a while to find a buyer — and the value may have changed (up or down) since you made the initial purchase. You would list a valuable piece of furniture, an antique, or a real estate property as a fixed asset using the item’s current value — not its original purchase price.
Equity Assets
This category includes any ownership interest you may have in a company, such as a stock, mutual fund, or holdings in a retirement account.
Fixed Income Assets
Investment money lent in exchange for interest, such as a government bond, may be categorized as a fixed-income asset. (Yes, there can be some confusing overlap in how assets may be designated. Don’t let that hang you up: The goal is simply to keep your mind open to anything you own that might be helpful when listed as an asset on your application.)
Financial Assets to List on Your Mortgage Application
You may have heard or read that lenders tend to prioritize a borrower’s liquid net worth (the total amount of cash and cash equivalents you own minus any outstanding debt) over total net worth (everything you own minus everything you owe).
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That’s partly because lenders want to be clear on where the money for your down payment and closing costs is coming from. When you apply for a home mortgage loan, a lender will want to determine if you’re a good financial risk, able to comfortably manage monthly mortgage payments — even if you suddenly have a bunch of medical bills to pay or experience a job layoff. So it can help your application if you have a healthy savings account, certificates of deposit (CDs), or other assets you can quickly liquidate in a pinch.
That doesn’t mean, though, that your lender won’t also note other assets you own when gauging your financial stability. Listing physical assets that can be quickly converted to cash may show your lender that you have options if you need more money for your down payment or to keep in cash reserves. And the assets you have in other categories could help bolster your application if you’re a candidate for a certain type of mortgage loan or a better interest rate.
Does Reporting More Assets Help With Mortgage Approval?
As you go through the mortgage preapproval process, you can ask your lender to help you determine which assets will help make your application stronger. You also could meet with your accountant in advance to go over what you have. If in doubt, you may want to list everything of value on your application — especially if you’re concerned about qualifying for the loan amount you want. Just be sure everything is accurate, because the lender will verify the information you provide. Bear in mind the lender will also be looking at whether you have the credit score needed to buy a house. Your debt-to-income ratio will also be important.
How Mortgage Lenders Verify Assets
Your lender will want to be sure all the information on your application is correct, so you should be prepared to provide asset statements to support everything you’ve listed. Documents you may be asked for include:
Bank Statements
Lenders generally will ask to see two or three of the most recent monthly statements from your checking, savings, and other bank accounts. You can send copies of paper statements (if you still do paper) or you can download copies online. If you have cash deposits on your statements, you should be ready to answer questions about the source (or sources) of that money. Your lender will want to be sure you have enough money on your own to make your down payment and monthly payments.
Keep in mind that when you turn over your bank statements, your lender will look for clues to the stability of your financial health. If you have a history of overdrafts or other problems, your application could be denied, even if your current balances are sufficient to qualify for a mortgage.
Gift Letters
Some lenders and loan programs allow borrowers to accept a large monetary gift from a family member to help with their down payment. But you’ll likely have to ask your benefactor to sign a document stating you won’t have to repay the money, and the lender also may ask to see a copy of that person’s bank statements to verify he or she was the source of the money.
Retirement and Investment Account Statements
If you need more money to make your down payment or help cover closing costs, and you plan to withdraw or borrow money from a retirement or brokerage account, you should be ready to provide two to three months’ worth of statements from those accounts.
Appraisal and Insurance Paperwork
If you’re listing a physical or fixed asset, you may have to produce an appraisal report or insurance document that states the item’s current value and that it belongs to you.
The Takeaway
Making a list of your assets, and gathering up documents to verify ownership and value, may seem like a tedious exercise. But being prepared to provide a complete accounting of your assets — along with the other documentation you’ll need — could help you find and get the mortgage you want.
Need help? SoFi’s Mortgage Loan Officers can provide one-on-one assistance as you work your way through the mortgage application process, so you can know what’s expected at each step. And SoFi’s online application makes it easy to get started.
Check out the flexible terms and competitive rates on a SoFi Home Loan today.
Photo credit: iStock/FG Trade
SoFi Mortgages Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility for more information.
SoFi Loan Products SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
JEREMY Hunt today ruled out direct cash boosts to help hard-up homeowners with soaring mortgage rates.
And he warned Brits that the cost of borrowing would be even WORSE under a Labour government.
The Chancellor insisted high interest rates are crucial to crushing insufferable inflation.
In the Commons he told MPs: “As much as we sympathise with the difficulties and will do everything we can to help people seeing their mortgage costs go up, we won’t do anything that would mean we’ve prolonged inflation.”
It comes as the average rate on a two-year fixed deal has now soared to 6.01 per cent.
And a typical five-year fixed deal is 5.67 per cent.
This leaves many households facing monthly payments more than 50 per cent higher than in 2021.
Former Cabinet minister Jake Berry warned a “mortgage bomb” could soon go off.
He asked Mr Hunt: “Is now the time to look at reintroducing a bold Conservative idea of mortgage interest relief at source?
“Because if we don’t help families now, all the other money that we spent to help them will have been wasted if they lose their home.”
The defiant Chancellor responded that direct help would put the government at odds with the Bank of England, whose mission is to strangle inflation as quickly as possible.
He added that the UK is on course to halve inflation by the end of the year.
Treasury Minister Andrew Griffiths highlighted mortgage lenders can help families struggling to make repayments.
He said: “There is range of measures that include term extensions, a switch to interest-only payment holidays, and the FCA guidance is very clear that any repossessions – and they are currently running at a historic low – any repossessions should be an absolute last resort.
The Chancellor confirmed he’ll meet with big lenders later in the week to see what help they’re providing customers.
He said: “Later this week I’ll be meeting the principle mortgage lenders to see what help they can give to people struggling to pay the more expensive mortgages and what flexibilities might be possible for families in arrears.”
Labour Shadow Chancellor Rachel Reeves accused Mr Hunt of imposing a “Tory mortgage penalty” on Brits.
She said: “Each and every family knows who is responsible for trashing the economy – the Conservatives.
“Yet the government shows a total disconnect about the impact its Tory mortgage penalty is having.
“Labour will bring the economic and financial security that Britain deserves.”
Mr Hunt hit back declaring: “I’m proud of our economic record.”
Most read in The Sun
He added that homeowners would be paying far more under a Sir Keir Starmer government, as Labour wants to borrow billions to fund green projects.
This, he argued, would hike interest rates to levels more eyewatering than at present.
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The biggest banks generally aren’t known for competitive savings account yields. Even with interest rates higher than they’ve been in years, many big-bank savings accounts remain stuck in near-zero interest rate territory.
Citi® Accelerate Savings is a rare exception. While not quite at the top of the heap, its yield is well above the national average — competitive enough to qualify as a legitimate high-yield savings account. If you’re looking for a strong return on your money without leaving the stable, comforting embrace of an international financial powerhouse, it could be a perfect fit for you.
But before you run out to open an account, make sure Citi Accelerate Savings really is the best choice. Like every bank account, it has some notable shortcomings too.
What Is Citi Accelerate Savings?
Citi Accelerate Savings is a high-yield savings account from Citibank. It yields 4.05% APY on all balances and has no minimum balance to open or maintain. You do need to maintain a balance of at least $500 to avoid the $4.50 monthly maintenance fee.
Like most Citi deposit accounts, Citi Accelerate Savings is the savings part of a checking-savings account package. You must open an Accelerate Savings account alongside a corresponding Citi checking account. Citi Access Checking or Basic Checking are both no-frills checking account options with low, easy-to-waive monthly maintenance fees.
Eligibility is limited to residents of certain states — enter your ZIP code on the application page to see whether Accelerate Savings is available in your area.
What Sets Citi Accelerate Savings Apart?
Citi Accelerate Savings stands out for a few key reasons, not all positive:
Yield well above the national average. Citi Accelerate Savings yields 4.05% APY on all balances. That’s well above most other big-bank savings accounts and the national savings account average too.
No minimum balance to open. You can fund your new Citi Accelerate Savings account with any amount of cash.
Monthly maintenance fee applies on lower balances. Watch out for the $4.50 monthly maintenance fee assessed in any statement cycle your balance drops below $500.
Only available in certain states. Citi Accelerate Savings is available in most areas* but not all. Enter your ZIP code on the application page to find out if you’re eligible.
Key Features of Citi Accelerate Savings
Citi Accelerate Savings has all the hallmarks of your typical savings account, but the details vary a bit from what you might be used to. Familiarize yourself with its key features before moving ahead with your application.
Account Yield
Citi Accelerate Savings pays interest at a very competitive rate: 4.05% APY on all balances. There’s no minimum balance to earn interest, and every dollar in your account earns at the same rate.
Account Fees & Minimums
There’s no minimum balance to open this account. However, if your balance drops below $500 in a given statement cycle, you must pay a $4.50 maintenance fee for the period.
Savings Automation
Citi’s AutoSave feature makes it easy to automate deposits to your Accelerate Savings account. Choose weekly, biweekly, monthly, or some other frequency and take the human element out of building your nest egg.
Overdraft Protection
Citi’s optional overdraft protection plan is called Safety Check. If you enroll, you can use your Accelerate Savings account as a backup for an overdrawn Citi checking account (except Access Checking), pulling from the savings account as needed to cover overdrafts. Citi rounds each draw up to the nearest $100.
Mobile Features
Citi Accelerate Savings comes with a comprehensive mobile app with capabilities like:
Digital bill payments
Person-to-person transfers
Mobile check deposit
Rapid electronic transfers
Single-dashboard view of all active Citi accounts
Deposit Insurance
Citi Accelerate Savings comes with FDIC insurance on balances up to$250,000. In the unlikely event that Citibank fails, the federal government guarantees deposits up to this amount.
Pros & Cons
There’s a lot to like about Citi Accelerate Savings and a few things to dislike.
Excellent yield on all balances
No minimum balance to open
Excellent mobile app
Minimum balance to avoid the maintenance fee
Requires a linked Citi checking account
Not available in all markets
Pros
Citi Accelerate Savings’ advantages go beyond its competitive yield. It’s one of the more mobile-friendly accounts on the market and serves as a valuable backstop for checking overdrafts — a capability many online banks can’t match.
Excellent yield on all balances. Accelerate Savings doesn’t quite have the best yield of any savings account on the market, but it’s well above the national average and better than the vast majority of big-bank savings products.
No minimum balance to open. There’s no minimum balance to open an Accelerate Savings account, which makes it a realistic choice for savers just starting out.
Optional overdraft protection for your linked Citi checking account. Citi’s optional Safety Check feature enlists your Accelerate Savings account as a backup for overdrawn checking accounts. The only checking account excluded from the deal is Access Checking. If you anticipate overdrafting often, think twice about opening an Access Checking account as the checking portion of your package.
Robust mobile app. Citi’s mobile banking app is better than most. You can do just about anything with it that you can through the regular online dashboard (or in a Citi branch for that matter).
Deposit insurance up to $250,000. Rest assured that your money is safe in the very unlikely event that Citi goes under.
Cons
Citi Accelerate Savings has some inconvenient features and limitations.
Must keep at least $500 in the account to avoid the monthly fee. This is one of the few high-yield savings accounts that charges a monthly maintenance fee. Fortunately, it’s easy to avoid with a balance of $500 or more, but it’s not ideal for frugal savers.
Must open alongside a Citi checking account. You can’t open a Citi Accelerate Savings account by itself. You need to pair it with a Citi checking account, which may have its own monthly fee and waiver requirements.
Not available everywhere. Accelerate Savings is available in most areas* but not quite nationwide. Even if it seems like the perfect savings account for you, it might be out of reach unless and until you move.
How Citi Accelerate Savings Stacks Up
The Citi Accelerate Savings account compares favorably to most big-bank savings accounts. But before you apply, see how it compares to one of the best high-yield savings accounts around: the Marcus Online Savings account, backed by Citi competitor Goldman Sachs.
Citi Accelerate Savings
Marcus Online Savings
Yield
4.05% APY
4.15% APY
Minimum Balance
$0
$0
Maintenance Fee
$4.50 if your balance drops below $500, otherwise $0
$0
Linked Checking Account
Yes
No
Savings Automation
Yes
Yes
Overdraft Protection
Optional
No
Available Nationwide
Almost
Yes
Marcus Online Savings comes with fewer strings than Citi Accelerate Savings, which must be opened as part of a checking-savings package and has a monthly maintenance fee if your balance drops below $500. But Citi Accelerate Savings is a better fit if you want the security of overdraft protection.
Final Word
Citi Accelerate Savings is one of the best big-bank savings accounts on the market. Its yield is well above the national average (if not quite best in class) and it’s easy to waive the monthly maintenance fee with a $500 balance. Optional overdraft protection is a nice touch too, one missing from many online savings accounts.
This account does have some shortcomings though. First of all, it’s not available in all markets. The maintenance fee is a problem for people just starting out on their savings journeys. And you must open it as part of a checking-savings package.
All in all, there’s more to like than dislike about Citi Accelerate Savings. But it might not be right for you.
*The Citi® Accelerate Savings account is available to customers with a residential/home address (not mailing address) in AA, AE, AL, AK, AZ, AR, AS, CO, DE, GA, GU, HI, ID, IN, IA, KS, KY, LA, ME, MA, MI, MN, MP, MO, MS, MT, NE, NH, NM, NC, ND, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VI, VT, WA, WV, WI, WY, and select markets in Florida and Illinois.
Editorial Note:
The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.
The Verdict
Our rating
Citi® Accelerate Savings
Citi Accelerate Savings stands head and shoulders above most other big-bank savings accounts. If you’re looking for a reliable savings account with a very competitive yield and full deposit insurance, it’s worth a close look. However, it has some important shortcomings and isn’t available in all areas, so it might not be the best option for you.
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Brian Martucci writes about credit cards, banking, insurance, travel, and more. When he’s not investigating time- and money-saving strategies for Money Crashers readers, you can find him exploring his favorite trails or sampling a new cuisine. Reach him on Twitter @Brian_Martucci.
Banking
What Does ACH Stand For in Banking Terms?
The Automated Clearing House Network, or ACH, is how Americans send electronic funds transfers. Virtually every bank, credit union, and fintech company in the U.S. uses the ACH network. Find out how it works and how to use it to send and receive money.
If you haven’t started your children or teens off with a kids checking account optimized for their needs, you’ll want to help your college student open a checking account before they begin school.
Opening a checking account for your child can teach them about money management and financial responsibility, along with providing them an easy way to make debit card purchases. It’s never too late to get started.
One advantage to helping your young adult open their first student checking account is they have more options than they might have when they were 16 or younger. Students over 18 can open a bank account with few restrictions.
But choosing a student checking account may give them access to higher interest rates and added features and benefits, along with fee-free checking, no monthly maintenance fees, and no minimum deposit to open an account.
12 Best Student Checking Accounts
Not surprisingly, many of the best student checking accounts come from banks that also offer some of the best checking accounts for any age. However, the products below – in most cases – are tailored for young adults from the ages of 18 to 24, with the features this age group desires most, including an intuitive mobile app and low or non-existent minimum deposit requirements.
1. Best for Students under 18: Capital One MONEY Teen
Most of the student bank accounts on our list exclude children under the age of 17 or 18. Capital One MONEY Teen checking is available to children ages 8 and up. It comes with all the benefits and security of a big bank, providing peace-of-mind. This includes access to Capital One branches and Capital One Cafes for in-person service. This account also serves as a great tool to teach your young adult the basics of banking.
Capital One MONEY Teen checking is a joint account with no monthly fee, no overdraft fees, and access to 70,000 ATMs with no fees. Plus, earn 0.10% on all balances, including those in checking.
You can link Capital One MONEY Teen checking to any other bank account through any bank or neobank, making it easy to transfer money to your teen while they are away at college. Plus, you can keep tabs on their spending with their linked account in the Capital One mobile app.
When they graduate, your teen can hold onto their MONEY account or transfer the funds into a top-rated Capital One 360 Checking account of their own.
2. Best for Working Students: Chime
Chime is not a bank. It’s a financial technology company and mobile app backed by Stride Bank, NA, and The Bancorp Bank. Many features make it perfect for working students. First, you can receive your paycheck up to two days earlier than you might at other banks with ACH deposit.
Plus, you can set up automatic transfers to your linked Chime Savings account, helping you to establish good financial habits early on. Simply set up Chime to transfer a percentage of your paycheck into your Savings Account every time you receive a direct deposit.
When you use your debit card for purchases, the “Save When You Spend” program rounds up your purchase and transfers the difference directly into savings. That small change can really add up, whether you’re saving for your first apartment after college, a new car, or your next tuition bill.
For working students looking to build their credit, Chime gives account holders access to a Credit Builder Secured Visa, with no annual fee, no credit check, and no security deposit required. Instead, the credit account is secured by your Chime checking account with monthly direct deposits.
Like many of the best student bank accounts on this list, Chime has no overdraft fee, no monthly service fee, no ATM fee for in-network ATMs, and no minimum balance requirements.
3. Best Account Opening Bonus: Chase College Checking
Chase Bank has been handing out student account opening bonuses like they hand out lollipops at their branches lately. College students ages 17 to 24 can snag a $100 bonus when they open an account online or at a local branch (students age 17 will need to visit a branch). You’ll just need to make 10 qualifying transactions within the first 60 days of opening the student bank account.
What’s a qualifying transaction? Virtually anything, according to the Chase website, including debit card purchases, online bill payments, Chase QuickDeposits, Zelle transfers, and ACH credits. Bank as you normally would, and you should easily earn that $100.
In addition to the generous sign-up bonus, Chase College Checking has no monthly fees for college students for up to five years, access to 16,000 ATMs and 4,700 branches across the U.S., and zero liability protection for unauthorized debit card purchases.
Chase Overdraft Assist covers purchases that exceed your account balance. You’ll pay no overdraft fee if you’re overdrawn by $50 or less at the end of the next business day.
4. Best for Yield: Ally Interest Checking
Ally Bank is the first bank on our list not designed specifically for students, but the vast array of features in this interest bearing checking account makes it ideal for young adults.
Ally Bank offers an APY of 0.25% on checking account balances and 4.00% APY on balances in a linked Ally Bank savings account. Neither account has any monthly fees.
Ally offers several features to help those on a tight budget manage their money. You can organize your money into spending and saving buckets, which can help you see exactly where your money goes each month. Ally will also review your bank accounts and help you find opportunities to save, and shuttle that extra money into your high yield Ally savings account.
Customers who have deposited $100 or more into their Ally checking account, or $250 via direct deposit, gain access to Ally’s CoverDraft service after 30 days. This protection covers up to $100 or $250 in charges that would overwise overdraft your account. Some purchases, including Zelle transfers, or ATM withdrawals, may be declined if they would put your account into overdraft.
Ally has no monthly maintenance fee, no overdraft fees, no ATM fee for in-network ATM transactions and no minimum balance requirement.
5. Best for Referrals to Earn Extra Cash: GO2bank
GO2bank, the digital bank associated with the top financial technology company Green Dot, offers an easy, straightforward money account with overdraft protection up to $200 with eligible direct deposits. The linked savings account pays a high 4.5% APY, with no fees for qualifying customers and no minimum balance requirement.
You can get regular ACH deposits from your job or side gigs up to two days earlier than most traditional banks. If you receive government benefits, such as Social Security, you can receive those deposits up to four days early.
Your GO2bank account will have a monthly service fee that costs $5 per month, unless you have a qualifying direct deposit that month. You will also pay fees for transfers from a linked debit card from another bank or fintech, mobile check deposits, and cash deposits.
If you are the type of person with friends who come to you for advice, you can earn $50 for each friend you refer to GO2bank who signs up with direct deposit. Your friend will also earn $50. You can use this offer for up to 30 friends, yielding $1,500 annually. This makes a GO2bank account great for social media influencers or college students with a large friend group.
6. Best for Full-Service Banking: Bank of America Advantage SafeBalance Banking
Bank of America Advantage checking accounts offer options for people in various stages of their financial life. College students might be best to start out with Bank of America Advantage SafeBalance banking, a straightforward money account with no overdraft fee and no checks.
The account has no monthly fee for students under the age of 25 or customers under the age of 18. Preferred Rewards customers also receive free checking. There is a $25 minimum deposit to open an account.
New Bank of America customers can earn a $100 account opening bonus when they open an account and set up direct deposits of $1,000 or more within 90 days.
7. Best for Comprehensive Money Management: PNC Virtual Wallet Student
Money Magazine named the PNC Virtual Wallet on its best banks for students list three years running. PNC Bank divides this mobile account into three separate accounts for everyday spending, “reserve,” or short-term savings, and “growth” for long-term savings.
The account has no monthly service fee for students for up to six years, along with all the benefits of a regular PNC Virtual Wallet. Additionally, students receive a courtesy refund of your first overdraft fee on your Spend account, one free incoming domestic or international wire transfer per statement period, and free paper statements if you opt in to receive them.
Once six years have passed or you are no longer a student, your account converts into a regular PNC Virtual Wallet, which may have associated monthly fees. Check the PNC website at that time to determine the fees and how you can waive them.
Your PNC Virtual Student Wallet pays a 0.01% APY on money in your Reserve account, and .02% on account balances up to $2,499 in your Growth account, with .03% APY on balances over $2,500. These may not be the best rates available, but the reputation of PNC Bank, along with the money management features in a Virtual Wallet Student account, make this an account worth considering for students just learning to budget.
8. Best for Establishing Savings Habits.: Wells Fargo Clear Access Banking
As one of the Big Four banks in the U.S., Wells Fargo offers a reliable and safe place to store your money, plus access to thousands of branches nationwide.
The Wells Fargo Clear Access banking account is great for teens and college students, since it’s available for account holders ages 13 to 24. Anyone under the age of 18 will need to open their account in a branch and anyone younger than 17 must have an adult aged 18+ as a joint account holder. The account has no monthly maintenance fee for anyone 24 or younger. A $25 minimum opening deposit is required.
Wells Fargo Clear Access banking is a simple, straightforward money account with no checks and personalized service at Wells Fargo branches. There are no overdraft fees with the account, but also no overdraft protection. Transactions that exceed the account or minimum balance amount will be declined, which helps put teens and young adults in charge of their money.
You can link your Clear Access bank account to a Way2Save Savings account and earn a 0.15% APY. You can establish good money habits by setting up automatic savings. Wells Fargo will transfer $1 from your Clear Access account into your checking account each time you use online bill pay or use your debit card for a one-time purchase. You can also transfer as little as $25 per month or $1 per day into your account to see your savings grow even faster.
9. Best for Cash Back: Discover Cashback Debit
The Discover Cashback Debit account may not be marketed to teens and students, by name. But, it’s enticing to anyone looking for a standard checking account with no monthly service fees and 1% cashback on debit card purchases, up to $3,000 per month. It’s highly unlikely for most college students to max out that free money (unless they are putting housing, tuition, and car expenses on their card).
Discover Cashback! debit card offers many of the benefits you’d expect from these top-rated money accounts, including early direct deposit, 60,000+ no-fee ATMs, and overdraft protection from your linked Discover Savings with no fees. Discover charges no fees for insufficient funds, bank checks, regular checks, or expedited delivery of a replacement debit card.
These features make it one of the most convenient accounts you can hold. Plus, you don’t have to worry about “aging out” of the account and facing fees for a non-student bank account. Your Discover Cashback Debit account will be free no matter your age. Link it to a Discover Savings Account to earn 4.0% APY with no minimum deposit required.
10. Best for Unlimited Out-of-Network ATM Fee Reimbursement – Axos Bank Rewards Checking
Another bank account not marketed to students but meeting all their needs is the Axos Bank Rewards Checking account. This account has no monthly fees. It also reimburses ATM fees for out-of-network ATMs nationwide, which is great for students who travel domestically or who don’t have ATMs in their network on campus.
Pay no overdraft fee or non-sufficient funds fees with this account. Best of all, earn an APY of 0.40% on your checking balance if you receive monthly direct deposits of $1,500-plus. Young investors can ramp up their interest rate by 1% with an average daily balance of $2,500 in an Axos Invest Managed Portfolio Account, plus another 1% by holding $2,500 in a self-directed trading account. If you take out a loan through Axos, you can add another 0.60% to your APY.
College students likely won’t regret opening an Axos Bank account to take them through adulthood, especially with options for investing, low mortgage rates, car loans, and more.
Plus, earn a welcome bonus when you open an account and have direct deposits of at least $1,500 within a single calendar month during the first three months of account opening.
11. Best Credit Union: Alliant Credit Union Teen Checking
Alliant Credit Union offers a teen checking account for minors ages 13 to 17. The account is insured up to $250,000 per account holder by the National Credit Union Administration (NCUA). The adult account holder must be an Alliant Credit Union member. But it’s easy to join by depositing $5 into an Alliant Credit Union saving account. Alliant Savings earns an APY of 0.25%.
The teen checking account has no overdraft fees or non-sufficient funds fee. It also has no monthly fees or minimum balance requirements. Account holders gain access to 80,000+ fee free ATMs nationwide plus $20 per month in ATM fee reimbursement for out-of-network ATM use. This is an interest earning checking account which also pays 0.25% APY on all balances as long as you have at least one deposit, via ACH direct deposit, mobile check deposit, or transfer from another bank or credit union, each month.
12. Best for Young Shoppers: Varo Bank
Varo Bank is another account not necessarily marketed to college students but definitely optimized for their needs. The Varo Bank debit card delivers up to 6% cash back, with money deposited into your Varo account as soon as you accrue $5 in rewards.
Like many of the best student accounts on this list, Varo has no monthly fee, no minimum balance requirements, and no overdraft fee. If you need money before payday, you can use Varo Advance, an interest-fee program that allows you to borrow up to $250 and pay it back within 30 days. You will not pay fees to borrow less than $20. Borrowing up to $250 comes with fees that can be as high as $15, depending on the amount of cash advance you need.
Varo Bank uses the Allpoint network of ATMs, with fee free access to 55,000+ ATMs nationwide. Using other bank ATMs could result in charges up to $3 from Varo and fees charged by the other banks, as well.
It pays to open a linked Varo Bank savings to take advantage of a high 3% APY. Account holders with direct deposits equal to $1,000 per month and a positive balance in their Varo checking and savings can earn up to 4% APY.
One of the best things about a Varo account is it can grow with you. You won’t pay additional fees as an adult out of college, so you can keep the same bank account you started with for your entire life if you want.
Methodology: How We Select the Best Student Checking Accounts
To find the best student checking accounts, we evaluated the monthly maintenance fees, ATM fees, minimum deposit requirements, features, benefits, banking services provided, along with customer service and mobile app access at several of the biggest and most well-known banks and credit unions.
ATM Network
Most banks have ATM networks or partner ATM networks of 20,000 or more ATMs nationwide where you can use your debit card with no ATM fees. You might be surprised to learn that even online banks and financial technology companies that are not a bank provide access to thousands of ATMs nationwide through partner programs.
Nationwide availability (physical locations or mobile access)
College students often split time between their college campus and the home where they grew up. Finding a bank with physical locations in the areas they live or an online bank that provides a mobile banking app with fee free mobile banking from anywhere is important.
Fees and minimum requirements
Bank fees no longer have to be a way of life for today’s young adults. We chose financial institutions with no monthly maintenance fees or easy ways to waive maintenance fees.
Benefits such as high APY, cash-back rewards, or other additional perks
Student checking accounts today are more than just “bare bones” places to store your cash. Many student bank accounts offer perks, benefits, and high-yield savings or an interest bearing checking account to provide added value.
Overdraft fees
Cash management mistakes happen, especially when young adults first start learning to budget and manage their finances. Many banks have no overdraft fees and some offer overdraft protection to help out in a pinch.
How to Choose the Best Bank for College Students
We’ve offered 12 solid options to help you choose the best student checking account. Before you open a student bank account, it’s a good idea to think about what you need in your primary checking account and a linked savings.
The list below makes it easy to review your must-haves and nice-to-haves when you choose your first bank account as a college student.
Best student checking account interest rates
If you’re looking to earn interest on your standard checking account, many banks offer this feature. Review annual percentage yield (APY) figures for your top choices.
Remember, a higher savings interest rate might benefit you more, since money in your checking account tends to fluctuate based on paychecks, bills, and expenses. The best checking account may not pay interest, but can save you money in other ways.
Annual Percentage Yield (APY)
Likewise, you can put money in your pocket with an account with linked savings offering a high annual percentage yield (APY).
Mobile Check Deposit
If you get paid via paper checks, you’ll want to find an account with a mobile app that offers mobile check deposit. Find out how fast deposits clear, and if mobile banking services are fee free.
No Monthly Maintenance Fees
Many banks today make it easy to find a free checking account with no maintenance fees. If you have to pay a monthly maintenance fee, find out exactly what you’re getting for your money. Find out if the perks and benefits, such as a cash back debit card or reimbursement of ATM fees make the maintenance fees worthwhile.
Minimum Deposit and Minimum Balance Requirements
When you’re just getting started, cash may be tight. It’s important to find an account with no minimum deposit to open.
Banking Services Provided
Accounts should have customer service online, by phone or in branches, plus an easy-to-use mobile app and a debit card with no ATM fees.
FAQs About Student Checking Accounts
Read what people are asking about the best student checking accounts, including minimum deposit requirements and benefits of a student checking account.
What are the benefits of a student bank account?
A bank account tailored for students gives young adults a head start on their financial future and learning how to manage money. For students who work, they can receive direct deposits in their student account, pay bills online, and send money to friends and family using Zelle.
How to get a student checking account bonus?
Several student checking accounts, including Chase, provide sign-up bonuses. Make sure to read the fine print and complete the requirements, which may include setting up direct deposit or making a minimum opening deposit, to collect the bonus.
Can I open a student checking account without a deposit?
To open a student checking account without a minimum deposit amount, simply look for a bank account, like Varo, that has no minimum opening deposit.
Are there any downsides to opening a student checking account?
When you open a student checking account, you’ll want to make sure you won’t pay monthly maintenance fees. Some student checking accounts convert to a regular account once the student graduates, and there may be fees associated with the regular account.
Is there an age limit on a student checking account?
Most student checking accounts are open to students from the age of 18 to 24 without a joint account holder. Customers under the age of 18 may be able to open an account with a joint owner.
Can minors open student checking accounts?
Accounts like Capital One Money Teen are available to children ages 8 and up with a joint account holder. Some other accounts require students to be 18 or older.
What happens to your student checking account when you graduate?
Many of the student bank accounts on this list won’t change when you graduate college. Others offer the option to convert your account to one of the bank’s regular checking products. A Chase College Checking Account has no monthly fees for your first five years in college, but if you graduate or exceed that time frame, you might pay a $6 monthly maintenance fee unless you meet other requirements.
As the world grapples with reducing the effects of climate change, people are looking to their homes for solutions. Investing in renewable energy by using solar panels or wind turbines is one option. Another is lowering the total amount of energy you use by switching to efficient appliances and using less water. Yet another method is by starting a home garden and using a living roof. But what if you could accomplish all of this with one house? You can with an Earthship home.
Earthship homes redefine sustainable living by bringing it to your home. With an Earthship, your entire house is lowering your carbon footprint and helping pave the way toward a sustainable future. This home style uses renewable energy, indoor gardening, on-site water treatment, and passive heating and cooling to be as climate-neutral as possible.
So whether you’re in the market for a new house in Wilmington, NC, or are looking to build a new home in Charleston, SC, this Redfin article has everything you need to know about Earthship homes. Are they right for you? Read on to learn more.
What is an Earthship home?
An Earthship home, or Earthship, is a type of sustainable home that is entirely self-sufficient and designed to have a minimal to no environmental impact. These unique homes are typically built using natural and recycled materials, and are designed to use the natural resources of their environment to provide all human needs. These include: food, shelter, energy, clean water, garbage management, and sewage treatment. Earthship homes are intended to allow people to live completely free from municipal utilities, sometimes called “off the grid.” The most common type of Earthship is the Global Model Earthship.
Earthship homes can function in most places around the world. However, because of their design and environmental requirements, Earthship homes aren’t right for all climates; they work best in seasonal, subarctic regions of the world. Tropical and bitterly cold areas are often not a good fit due to excess cost or overwhelming maintenance demands.
History of Earthships
Earthship homes were created by architect Michael Reynolds in the 1970s, around the time of the environmental movement and first Earth Day. Reynolds was concerned about the amount of trash in the environment and the lack of affordable housing, and wanted to create a solution.
Earthship homes promote personal autonomy, environmental responsibility, and affordability, aiming to provide sustainable housing for all. The first Earthship homes were built in New Mexico, and have undergone many design changes up to the present day.
Principles of Earthship homes
The Earthship concept has six design principles that are focused on eliminating the home’s environmental impact and promoting sustainable living.
1. Natural and recycled materials
Earthships are constructed using a variety of natural and recycled products. One of the most common materials is used car tires, which are packed with earth and then stacked to form strong, insulating walls. Other common materials include recycled cans, bottles, and reclaimed wood. This not only reduces the home’s environmental impact, but also gives them a unique and recognizable appearance.
2. Passive heating and cooling
Earthships are designed to take advantage of natural climates to provide a comfortable indoor environment without traditional heating or cooling systems. Earthships have thick walls typically made from natural and recycled materials, providing thermal mass which naturally regulates the indoor temperature. The buildings are also often partially covered with soil or even built into the side of a hill, which further helps stabilize the home’s temperature.
Additionally, Earthship houses are often oriented specifically to allow the sun to heat the interior during the winter, while using overhangs and other shading techniques to prevent overheating during the summer.
3. Solar and wind energy
Most Earthships are usually equipped with solar panels or wind turbines to generate electricity, making them independent of the conventional power grid. The electricity is stored in a bank of batteries and then used as needed for lighting, appliances and other electrical requirements. Inside, most homes have efficient appliances and LED lighting to help to reduce electricity use.
4. Water harvesting
Earthships capture and store rainwater and snowmelt from their roofs, making them ideal for fairly wet climates. The water is filtered and used for drinking, cooking, and bathing. After being used once, the water becomes greywater and is reused for irrigation. The remaining water is then treated and used for flushing toilets. After this, it becomes blackwater, which is then treated and used for landscape irrigation.
5. On-site sewage treatment
Instead of being connected to a municipal sewage system, Earthship homes treat their own waste water. Most homes accomplish this through a mix of greywater and blackwater systems. Greywater (water from sinks, showers, etc.) is typically filtered through indoor gardens and used to grow food. Blackwater (sewage) is usually treated in an anaerobic digester or a constructed wetland, with the goal of reusing it for landscaping.
6. Food production
A key part of Earthship architecture is self-sustaining food production. Earthship homes include internal greenhouses, which are used to grow a variety of plants, including fruits and vegetables. Greenhouses also aid in heating and greywater treatment. The combination of direct sunlight, greywater irrigation, and a controlled climate makes it possible to grow healthy food year-round. Some designs also incorporate outdoor garden spaces and even aquaponic systems.
Pros and cons of Earthship homes
In theory, Earthship homes offer reduced environmental impact without sacrificing many modern amenities. However, there are important pros and cons to consider before building a new Earthship house.
Pros
Sustainability: Earthships are built largely from recycled and natural materials, which reduces their environmental footprint. They also incorporate renewable energy systems, water harvesting, and on-site waste treatment, which further enhances their sustainability.
Self-sufficiency: Earthships are designed to be largely self-sufficient. They can generate their own electricity, collect and purify their water, manage their sewage, and even produce food. This reduces their reliance on public utilities and can provide security in case of a utility outage.
Energy efficiency: The design of Earthships allows for natural temperature regulation, reducing the need for artificial heating and cooling. The use of solar and wind energy for power contributes to energy efficiency and further reduces the carbon footprint of the home.
Cons
Regulations and permits: Because Earthships deviate from traditional construction methods, they can face challenges with local building codes and regulations. Obtaining the necessary permits can be a difficult and time-consuming process.
Initial investment: While Earthships often save money in the long run through reduced utility costs, the initial investment can be high, especially when considering the cost of land, materials, and labor. However, construction costs are dramatically lower than a traditional house, and usually an entire community helps out.
Labor-intensive: Earthship construction and maintenance can be labor-intensive, especially if using traditional Earthship building techniques, such as pounding dirt into used tires. This can add to the time and cost of building.
Not suitable for all climates: Earthship homes are a financially viable and environmentally sustainable home style in most parts of the world, including dry, humid, and subarctic climates. However, they are impractical in warm and wet climates.
Challenging to sell: Because of their unique designs, challenging upkeep, and typically remote locations, Earthship houses can be hard to sell. However, recently, they’ve been gaining value and are becoming a more popular option.
Earthship homes vs. earth homes
Earthship homes and earth homes (sometimes called earthen homes) are two home styles that are designed to reduce your carbon footprint. While they have similar names, they are often entirely different from each other. Let’s break this down.
Earthship homes are a style of home use entirely renewable, recyclable, and natural materials. They must adhere to a strict set of principles such as passive heating and cooling, renewable energy, and water harvesting. Some people use a significant amount of earthen materials during construction, but it’s not necessary.
Earth homes, or earthen homes, are homes that are built using a significant amount of earthen materials, often built into the earth, such as the side of a hill or buried underground. Importantly, earth homes don’t have to adhere to certain design principles and may not be as environmentally friendly as other home styles. However, many earthen structures are environmentally friendly.
Final thoughts
Earthship homes offer a unique and reliable way to reduce your carbon footprint, and are proof of the possibilities of sustainable architecture. While building and maintaining an Earthship can pose challenges, the rewards can be very rewarding. Exploring the potentials of Earthships invites people to reimagine their homes and see the part they play in slowing the effects of climate change.
All images are credited to Earthship Biotecture, founded by Michael Reynolds.