Choosing a Bank

You’ve worked very hard for your money. You deserve to keep every penny to spend however you wish, with the exception of Uncle Sam’s share, of course. However, all too often you end up spending unnecessary money on fees just to use your own money. That is why it is so important that you take the time to find the best bank for your needs. Everyone has different banking needs, so no bank will be the best for everyone. That is why it is up to you to do the work to make sure that you get to keep as much of your hard-earned money as possible. To help you find the right bank, we here at have compiled these steps to help you choose the right bank for you.

Set Your Expectations

What are your banking needs? Are you the type that likes going into the bank whenever you need to get out cash? Do you prefer doing your banking online? Do you use ATMs frequently? Do you get your paycheck via direct deposit? Do you prefer to use a debit card over cash? These are all questions you need to ask yourself before you decide on a bank to use. By creating a list of what you expect from your bank, you will easily be able to eliminate any banks that do not meet these needs. If you don’t know what you are looking for before you start searching, the process can get very complicated very quickly.

Location, Location, Location!

If you are the type of person that frequents your bank regularly you will want to make sure that it is located in a convenient location. Even if you just use the ATM there, you will want to make sure that you have easy access to it. Otherwise, you may end up spending a lot of money on fees because you don’t want to travel across town to use your bank’s ATM. There are usually plenty of bank options in every city, so you should still have plenty of options after location is considered.

Check Their Legitimacy

Once you have a few banks narrowed down based on location, you will want to make sure that all of your options are legitimate banks. Since they are responsible for keeping your money safe, you do not want to choose a bank that risks closing down. Of course, most of the big-name banks should be fine. If you are considering a local bank it is vital that the bank is approved by the Federal Deposit Insurance Corporation (FDIC). The FDIC provides insurance for your deposits, up to $250,000.00 per person. If a bank is FDIC approved, you do not have to worry about losing your money if something should go awry with the bank itself.

Another good way to see if the bank is legitimate is by checking out their website. Does it come across as professional? Does it have an easy-to-read interface? Can you find the things you need? You can also check out the frequently asked questions to get any of your questions answered.

Talk to Others

You will also want to talk to people that already use the bank you are considering. Do they have any complaints? What do they like about the bank? A first-hand review from someone you trust is often the best source when you are trying to decide where to store your money. However, remember to ask several people and always consider the source of a negative comment. It is never possible to please everyone and the person may have instigated their negative experience with the bank. That being said, if you hear the same concern from a lot of different people it probably has some merit.

Compare, Compare, Compare!

By now you should have your choices narrowed down to two or three banks. You will want to eliminate as many options by using the tips above before you get to this point, because comparing everything about the banks is time consuming. First, you need to compare all of their fees. What fees do they have? When are fees assessed? Is there anything you can do to avoid these fees? Do they charge you to use competitor’s ATMs? Ideally, you can find a bank that does not charge you any fees for simply using their bank. You should only have to pay fees for legitimate reasons, like overdrawing your account. At first glance, many banks do have fees for their accounts, but oftentimes you can avoid these fees by meeting balance requirements or having your paycheck enrolled in direct deposit.

After all of the fees are compared, you now need to compare the interest rates. It is not only important to avoid paying money unnecessarily, it is also important that you are able to make money from the bank storing it. Of course, the bank that pays you the most money in interest is always a wise choice. Most banks offer interest for holding a savings account, but you can also find a few banks that will pay you interest on your checking account.

Read the Fine Print

Once you have compared all of the fees and interest rates that the bank has, take some time to read the fine print. Does the account have minimum requirements to reap the rewards? What happens if you fall below these minimums? Are there additional fees to be paid? If anything seems unclear to you, always make sure to get it clarified before signing any paperwork

Visit the Bank

Once you think you have made your final decision, make a visit to the bank. How are you greeted? Are you treated with respect? Remember, you are doing the bank a favor by banking there, and you should be treated that way.

Doing all of the legwork to choose a bank can seem a bit intimidating. However, you only have to put in the work once and you can reap the rewards for years to come. You will never regret your decision of taking the time to choose a great bank, but you may regret it if you don’t.

The operator of this website is not a lender.
This site will share the form information provided by the consumer with one or more lenders.
This site can connect you with a cash advance lender based on your form and lender requirements.
Not all customers will be connected with a lender, and not all forms will be approved by a lender.
PaydayLoansCashAdvance cannot guarantee the amount of funds that may be extended if a lender approves the form.
*Not all lenders can provide up to $1,000. Consumer loan amounts vary bases on creditworthiness.
Lenders tend to provide upper range loan amounts to returning customers. Cash transfer time may vary between lenders.
Funds are not available until the next business day. Cash advances are not available in all states.
Lenders may undertake credit checks or otherwise verify the consumer’s social security number or other information.
If and when lenders preform credit checks they are ran via specialized credit bureaus.
Late payments of loans may result in additional fees or collection activities, or both.
Non-payment of credit could result in collection activities.
Each Lender has their own terms and conditions, please review their policies for further information.
Every Lender has its own renewal policy, which may differ from Lender to Lender. Please review your Lender's renewal policy.

Please refer to our Privacy Policy for important information on the use of cookies.
By continuing to use this website, you agree to the Notices and Disclosures and the Privacy Policy.

Copyright © 2014 All rights reserved.
3172 North Rainbow Boulevard #1212 Las Vegas NV 89108