Huntington Beach City Meeting: Financial Literacy, Drone Program, and Storytime – May 27, 2026

It's used to save money either for emergencies or for any goals that you may have.

And it does gain a little interest.

With traditional banking, it's only 0.01%.

So it doesn't grow as much with a traditional bank.

And it does have limits with the withdrawals that you can do.

So usually it's only six per month, and after that you have to wait for the following month.

And it works best if you have a short-term, sometimes for a long-term goals.

But like I mentioned, it doesn't really give you a lot of interest.

So maybe for the long term, it's not going to be the best option for you.

This new tendency to use Zell or Venmo and that kind of thing.

Is the traditional checking account going to be changing or going away?

With like Zale and things like that, it's mostly to send money to other people.

So it's just a service that's added to your to your banking.

So even with a credit union, you can have Zell as well.

So some credit unions also offer that service.

So it's just a service that's included.

So yeah.

Yeah.

I have a question.

You were you skipped over this a little fast and I didn't notice something that you said.

But for traditional banks, limits on withdrawals.

With the savings account.

Correct.

Yes.

Do they ever have uh limits on withdrawals from checking?

From checking, it's usually the amount.

So they do have a limit.

Yes.

Yeah.

So usually with check-ins, they have an amount of how much you can withdraw on ATMs.

If you go in person.

I didn't mean by ATM.

Okay.

If you went in and said, I want this money.

Usually if you go inside now, there's no limit.

Yeah.

What about ATMs?

What's the isn't there a limit?

Yes, for ATMs, there is a limit and it depends on your bank and also on you.

So sometimes it's 200 to 500, the limit that you have, but you can also call your bank to increase that amount.

So you do have the option of increasing that amount.

Yeah.

Okay.

So we'll move on to credit cards.

So I think for the most part, I think most of us have a credit card.

It's a way that we can pay now.

Sorry, we can buy now, pay later.

It does help us build up our credit if we use it wisely.

And we do want to pay off the full balance at the end of the month so that way we don't uh accrue any interest.

Yes, because interest does make us fall behind and it could be difficult to get out of that cycle or get out of that debt.

There's usually high interest rates.

So again, it does make us be on a trap that we can't pay it off if we are only making the minimum payment.

So if possible, try to make the full payment.

If we can't do that, try to make a little bit more of the minimum payment.

Because if we continue making the minimum payment, most of that payment is going to interest.

It's not really going to the principal to the balance that we have left over.

And then we have the certificate of deposits.

Has anyone here has used the certificate of deposits?

Yeah.

Okay.