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Q: What is the minimum amount recommend for emergency savings?
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You should call the family court system to find out the minimum amount you can have in your savings account. You should be able to ask this question anonymously.


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Emergency funds are commonly used in families who have a budget. The fund is a set amount of money that is put in savings, in case an emergency occurs and money is needed.


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You can generally open an account with an initial deposit of $100. There are other circumstances that the bank can consider, however. A customer service representative would be happy to give you details. The minimum amount of money to open a savings account at an HSBC bank is very low. From the information listed at their website, the minimum for a basic savings acount is ten dollars.


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American Express offers a personal savings account with no fees, no minimum balance amount, and a competitive rate, called the High-yield Savings Account. They also offer an account called Certificates of Deposit, which has a competitive fixed interest rate.


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