Buzz
Most people engage with their bank regularly, making it crucial to pick an account that suits your needs and provides satisfaction. Forbes compiled a guide on what to look for when selecting a checking or savings account.
As Forbes contributor Laura Shin highlights, nearly half of Americans are paying unnecessary checking account fees. Many banks offer free checking, or will waive the fees with a minimum balance. The takeaway: you have choices, and switching banks could save you money—but careful consideration is key.
Shin outlines five key factors to consider when opening a new checking account:
No monthly maintenance fees
No minimum balance requirements
Unlimited transactions
Mobile and online banking access
Free ATM withdrawals
When it comes to savings accounts, Shin advises looking for these key features:
Federal Deposit Insurance
Easy access to funds
Attractive interest rates
Mobile and online banking capabilities
This serves as a general guideline, but you may need to factor in additional considerations based on your personal circumstances. Shin's full post delves into overdraft fees and explores each point in more detail. If you're considering a new account, the article is definitely worth checking out.
Photo by Betsssssy.
