Banking Guides | Penny & Plan

Banking How to Avoid Bank Fees Completely Count what your bank charges you in a year, then remove each fee at the source, using the free-account rules that exist in the US, UK and Canada. 8 min read

Banking What Is a Certificate of Deposit (CD)? A certificate of deposit locks money for a fixed term at a fixed rate. How the penalty math works, when to break one, and how the US, UK and Canada differ. 8 min read

Banking How to Choose the Right Bank Account Compare bank accounts on the four things that actually matter: fees, rate, access and deposit protection, plus the US, UK and Canada rules most guides skip. 7 min read

Banking Online Banks vs Traditional Banks: Which Is Better? Online banks pay more and charge less, branch banks handle cash and complexity. The honest trade-offs, a three-year cost gap, and the licence check most people skip. 7 min read

Banking What Is an Overdraft Fee and How to Avoid It What an overdraft fee really is, why it differs from an NSF fee, and the opt-outs, alerts and refund requests that stop you paying them in the US, UK and Canada. 7 min read

Banking What Is APY and How Is It Calculated? APY is the interest rate with compounding folded in. The formula, a worked example on real money, and how APY, AER and APR differ across the US, UK and Canada. 8 min read

Banking Checking vs Savings Account: What's the Difference? Checking moves your money, savings grows it. The transfer limits, interest, insurance and tax rules that separate the two accounts in the US, UK and Canada. 7 min read

Banking Debit Card vs Credit Card: Which Should You Use? Debit card vs credit card explained simply, the real pros and cons, when to use each, and how to get card rewards without paying interest. 6 min read

Banking What Is a High-Yield Savings Account? Is It Worth It? What a high-yield savings account is, how it compares to a regular account, whether it is safe, and how to choose the right one. 6 min read