What are tips for choosing a bank?


Quick Answer

One tip for choosing a bank is to consider all the services needed and look for a bank that offers the best deal in terms of benefits and service packages, suggests Bankrate. Some other tips include checking whether the bank is secure and a member of the Federal Deposit Insurance Corporation and considering the location of bank branches for convenience, notes Investopedia.

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Full Answer

Another tip is to check out the bank's fees, including any for account maintenance, returned checks, minimum balances or account closure, since these fees vary by bank and can add up, warns U.S. News and World Report. Even checking accounts that are labeled as free can have fees attached to them, especially if the customer doesn't maintain a specific balance.

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