Tony Armstrong

Lead Assigning Editor | Banking

Tony Armstrong leads the banking team at NerdWallet. He has covered personal finance for nearly a decade. Tony began his NerdWallet career as a writer and worked his way up to assistant assigning editor and then to lead assigning editor. His writing has been featured by the Los Angeles Times, MarketWatch, Mashable, Nasdaq.com, USA Today and VentureBeat. Tony lives in Minneapolis, Minnesota.

Education: B.A. in English literature and creative writing from Macalester College

Tony's picks

What Is Compound Interest?

by Margarette Burnette

Compound interest is the money your bank pays you on your balance — known as interest — plus the money that interest earns over time.

Emergency Fund: What It Is and Why It Matters

by Margarette Burnette

Best kept in a savings account, an emergency fund is useful for unexpected expenses.

Best Online Banks of 2024

by Chanelle Bessette

NerdWallet's picks include banks, nonbank financial institutions and one credit union with strong overall ratings and mobile features.

Tony has also nerded out in...

Other publications

The Los Angeles Times, Mashable, Money, Nasdaq.com, USA Today, VentureBeat, U.S. News & World Report, MarketWatch

The latest from Tony

Newtek Bank Review: Savings and CDs

Newtek Bank is a business-focused bank that has high-yield savings and CDs for consumers nationwide.

Calling All Savers: How to React to the Fed Rate Cut

Moving your money to a high-yield savings account or CD can help you continue to earn above-average rates.

Poppy Bank Review: Savings

Poppy Bank’s online savings account earns a high savings rate on balances of at least $1,000.

Forbright Bank Review: Savings and CDs

Forbright Bank offers CDs and a high-yield savings account, and customers can support the bank’s environmental efforts.

MoneyPass ATMs Near Me: How to Find Them

The MoneyPass network offers about 40,000 ATMs to consumers throughout the U.S., usually through online banks.

5 Things to Know About Banking, From a Banking Writer

Shop for a bank account with your goals in mind, save for the future, avoid fees and more advice from a banking writer.

CFG Bank Review: Checking, Savings and CDs

CFG Bank offers strong interest rates and a vast free ATM network, but branches and customer support options are limited and no overdraft protection is available.

Vanguard Cash Plus Account Review: Online Cash Management Account

The Vanguard Cash Plus Account offers a high interest rate, but withdrawals and deposits are limited to online transfers.

How the Fed Affected Your Savings Account in ’23 and What’s Next

Savers end 2023 on a high note. But a Fed rate pause may extend to 2024.

What Is Early Warning Services? Part of How Banks Fight Fraud

Early Warning Services is a fintech company that owns Zelle and provides data and information to financial institutions and companies to help them detect and prevent fraud.

How to Transfer Apple Cash to Your Bank Account

You can send Apple Cash to your bank account via Instant or ACH transfer.

Pros and Cons of Keeping Multiple Bank Accounts at Different Banks

It can be challenging to manage accounts at multiple banks, but there are benefits, like getting additional features.

What Is FedNow?

FedNow is the Fed’s new real-time payments service that launched in July.

What Is a Bank Run?

Bank runs have been in the news recently. Find out what they have to do with bank failures.

What Is the Federal Funds Rate?

The federal funds rate doesn't just affect banks. It has ripple effects on the price of consumer products such as credit cards, student loans and mortgages.