Savings accounts allow you to save money while earning interest on your savings. I felt like I was really missing out! I want my money to sit somewhere and grow, but because of my banking history it just wasn't in the cards...
But then I stumbled upon Mango Money. This is similar to the way that other prepaid debit cards work, in that anyone is approved and you can use the card anywhere that Mastercard is accepted, but Mango has one HUGE difference!
Any money that you transfer into savings on your Mango account will earn an astonishing 6% APY! I'm not a financial guru or anything, but that is absolutely unheard of nowadays... Your typical bank will offer 1%, and that's only if you're really lucky. Because they are solely an online banking institution they don't have to pay for things that "brick and mortar" banks have to pay for such as buildings, thousands of employees, etc., and so they are able to pass the savings onto their members in the form of an amazing interest rate.
Want to learn more? Click here to learn more or to sign up... You're just a few clicks away from investing in your future!
Have you heard of ING's electric orange account? I too have issues opening accounts at banks because I was reported to chex system. But ING gave me both saving & checking account, & instead of paying $35/ overdraft, you only pay them the small interest on the amount you over drew. & the APY for the savings is 9%. Check it out. :)
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