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No. of Recommendations: 2
Can you please find me just ONE example of a savings account where putting your money in a safe for a year would be a better option?
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Wells Fargo's Platinum Savings Account will cost you $12 per month in service fees if you do not maintain a $3,500 minimum daily balance
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So using this example, if the original poster opened an account with $500 and deposited $500 monthly, it would take 8 months with service fees of $96 and then 4 months of no service fees before using this money for a down payment on a car.

Not sure how much interest that money would typically make in those 12 months, but I'm pretty sure it would be less then the money withdrawn by the bank for the service fees. So scenarios like this, you would be better off putting that money in a safe for the 12 months.
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