A passbook savings account uses a passbook to record transactions. When you open an account, you receive this notebook from your bank. Passbooks tend to be roughly the size of a U.S. passport.

“Mabel,” a reader of this column in her 90s, lost her savings account passbook recently — yes, a “passbook,” which is a holdover from a century ago when banks recorded savings accounts ...

Approximately 10% of our savings customers have passbook accounts," says Geoffrey Thomas, executive vice president and head of everyday banking at Providence, R.I.-based RBS Citizens Financial Group.

Discover where to get the best interest rates, how they are taxed, and how a savings club works. Savings Accounts Best High-Yield Savings Accounts for August 2025: 2 Offers of 5.00% By Sabrina Karl ...

One more point: Mabel should ask the bank to restrict her account. As TD Bank recommends: “If you believe you may have lost your passbook outside of your home, or there is the possibility that ...

Provident’s passbook accounts feature free direct deposit, require a minimum balance of $50 to open with an interest rate of .05 percent. Additionally, customers are permitted to borrow up to 95 ...

Passbook loans allow you to use your savings account as collateral for a loan. Most banks and credit unions let you borrow up to 100% of the amount in your account.

Passbook savings accounts are the centerpiece of a pilot program being launched this fall by the Federal Deposit Insurance Corp., which is hoping to promote financial education and encourage ...

While cleaning out an old trunk, I came across an old passbook from Dime Savings Bank of Brooklyn. The passbook showed a CD for $20,852 and a maturity date of Sept. 8, 1989.

Passbook accounts have another selling point for younger bank customers. They often don't require minimum balances, come with low or no fees and offer interest for modest amounts. “We only ...

Nearly half of U.S. households have a passbook-savings account, but some accounts are more consumer-friendly than others, according to a survey of 150 banks and the 10 largest credit unions by the ...