About Ken Tumin

Ken Tumin founded the Bank Deals Blog in 2005 and has been passionately covering the best deposit deals ever since. He is frequently referenced by The New York Times, The Wall Street Journal, and other publications as a top expert, but he is first and foremost a fellow deal seeker and member of the wonderful community of savers that frequents DepositAccounts.


Popular Posts

Are You Eligible for $142 Million Wells Fargo Settlement?
Are You Eligible for $142 Million Wells Fargo Settlement?
Written by Dillon Thompson | Published on 1/20/2019

In July 2017, Wells Fargo agreed to pay $142 million to its customers in a settlement over the 3.5 million potentially fake accounts the bank admitted to opening without their permission.

The agreement means a payout for any account holders affected by the scandal, all of whom were given about nine months to file for reimbursement.

The deadline to file a claim was July 7, 2018. That date has passed, but it’s worth knowing whether you’re eligible for the Wells Fargo settlement, how...

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Average Local Savings and CD Rates Reveal Why You Should Bank Online
Average Local Savings and CD Rates Reveal Why You Should Bank Online
Written by Lauren Perez

When looking around for the best deposit rates, you’ve probably noticed that online banks tend to dominate lists with their competitive interest rates. This is especially true when comparing online bank rates with traditional brick-and-mortar banks.

To get a better sense of this competition, DepositAccounts took a deep dive into local bank rates and found that in many states, the rate is no better than the average rate you could find with an online savings account or 1-year CD. The analysis, which was conducted Jan. 1,...

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The Best CD Rates in January 2019
The Best CD Rates in January 2019
Written by Lauren Perez and Ken Tumin

With their more structured approach to savings, certificates of deposit (CDs) are great for saving towards more long-term goals....

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Federal Reserve, the Economy and CD Rate Forecast - Jan 15, 2019
Federal Reserve, the Economy and CD Rate Forecast - Jan 15, 2019

This is my new weekly review of the Fed, the economy and what we can expect of future deposit rates. This used to be part of my weekly summary, but it will now be a separate post. My weekly summaries will now be focused entirely on deposit rates and deals, and they will be published on Tuesday evenings. This change was done to separate the economic and political discussion from the deal discussion. Often economic discussion leads to political discussion, and that can create lots of comments which drown out...

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What a Patriot Bond Is and What to Do With It
What a Patriot Bond Is and What to Do With It
Written by Marianne Hayes | Published on 1/14/2018

Looking to learn more about Patriot Bonds? Let’s start with a quick explainer of what savings bonds are. They’re low-risk investments that are backed by the U.S. government. After you purchase the bond, they pay you back the principal plus interest.

Savings bonds come in a number of shapes and sizes, with some earning interest differently than others. Series EE savings bonds, which have a fixed rate of return, are available online from the U.S. Department of the Treasury via TreasuryDirect.gov.

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Federal Reserve, the Economy and CD Rate Forecast - Jan 8, 2019
Federal Reserve, the Economy and CD Rate Forecast - Jan 8, 2019

This is my new weekly review of the Fed, the economy and what we can expect of future deposit rates. This used to be part of my weekly summary, but it will now be a separate post. My weekly summaries will now be focused entirely on deposit rates and deals, and they will be published on Tuesday evenings. This change was done to separate the economic and political discussion from the deal discussion. Often economic discussion leads to political discussion, and that can create lots of comments which drown out...

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Federal Reserve, the Economy and CD Rate Forecast - Jan 2, 2019
Federal Reserve, the Economy and CD Rate Forecast - Jan 2, 2019

Happy New Year!

This is my new weekly review of the Fed, the economy and what we can expect of future deposit rates. This used to be part of my weekly summary, but it will now be a separate post. My weekly summaries will now be focused entirely on deposit rates and deals, and they will be published on Tuesday evenings (Wednesday evening for this week. It's now available at at this link). This change was done to separate the economic and political discussion from the deal discussion. Often economic discussion...

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Federal Reserve, the Economy and CD Rate Forecast - Dec 26, 2018
Federal Reserve, the Economy and CD Rate Forecast - Dec 26, 2018

This is my new weekly review of the Fed, the economy and what we can expect of future deposit rates. This used to be part of my weekly summary, but it will now be a separate post. My weekly summaries will now be focused entirely on deposit rates and deals, and they will be published on Tuesday evenings (My liquid account summary is now available at this link).This change was done to separate the economic and political discussion from the deal discussion. Often economic discussion leads to political discussion, and...

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Deposit Delay Issue at Navy Federal - Tips To Avoid Future Problems

The largest credit union in the nation, Navy Federal Credit Union (Navy Fed), had members worried today due to deposits that were delayed or missing. Navy Fed was posting updates on the problem on its Twitter and Facebook pages. This morning on its Facebook page, Navy Fed issued this message:

Many members replied to these posts claiming that the problem wasn’t a delay but deposits that were missing. One member wrote:

Another member wrote:

In addition to missing deposits, members were angered about how Navy Fed was communicating to members about the...

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Fed Rate Hike! Interest Rate Predictions and CD Strategies for 2019
Fed Rate Hike! Interest Rate Predictions and CD Strategies for 2019

The Fed defied pressure and hiked rates today. A rate hike was the consensus, but there had been increasing pressure for the Fed to pause. This is the fourth Fed rate hike of 2018 and the ninth rate hike since the Fed started to raise rates in December 2015. Here’s that all important paragraph in today’s FOMC statement:

This policy action was an unanimous decision.

There are signs in both the FOMC statement and in the FOMC projections that future rate hikes will be fewer and more gradual than this year.

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