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Savings accounts are deposit accounts offered by banks and credit unions. They are insured by the Federal Deposit Insurance Corporation, making them safe for risk-averse savers.

With banks' increasing adoption of digitalization, it is now possible to carry out all your transactions online.

According to the Consumer Financial Protection Bureau, medical bills made up 57% of all collections on credit reports from 2018 to 2022. Over the same period, consumer debt collections fell by a third, indicating an improvement in Americans' household finances. Additionally, the percentage of consumers with a collection tradeline on their credit report decreased by 20%.