When you’re looking to open a savings or checking account at a new bank, choose a bank that offers low fees, flexible banking options and products that meet your needs. . It’s tough to compare all of these banks’ offerings, but you can look for a few key features to find your ideal bank.
Here are 11 must-have features all the best bank accounts have.
1. Attractive Interest Rates
best high-interest savings account. .have resulted in banks offering savings products with higher interest rates, but the best savings accounts offer more generous returns than others, making them attractive options when searching for the
2. Interest-Bearing Checking Accounts
. Accounts like these can be valuable if you tend to maintain a high balance in an active checking account throughout the year and don’t want to leave that money in a high-yield savings account.
3. No Fees
In addition to the best interest rates, a free bank account or accounts with no fees are the most attractive. to stay competitive, and many will waive the fees on other accounts if you meet average daily balance requirements.
If you find that you frequently use ATMs not provided by your bank, open an account with a bank that waives all your ATM surcharge fees no matter where you go..
4. No Minimum Balance Requirements
Some banks have minimum account balance requirements. If your cash flow requires low account balances on occasion, look for.
5. Secure Online Banking Features
You don’t have to worry about making it to the bank before it closes when you have an online bank account you can access 24/7. Whether you choose an exclusively online bank or open a bank account at a brick-and-mortar bank that offers
6. Mobile Banking Options
. If your bank is mobile-friendly, you can check your account balance, transfer money and even deposit checks when you’re on the go.
7. Credit Card Rewards
When you’re looking to open a credit card account with a new bank, keep an eye out for cards with generous cash back and rewards programs. Some banks make it easy to double up on the rewards. For example,
8. Great Customer Service
Choose a bank known for its great customer service, especially if you like to make deposits in person with a teller or you want to see a personal banker at the local branch now and then. If you don’t go to the back often, consider an online bank that offers 24/7 access to a personal banker over the phone. Quality customer service can make the difference between a good bank and a great bank.
9. Free Online Bill Pay
Save a stamp by taking advantage of online bill pay features..
10. Loyalty Perks
If you tend to stick with one bank for several years, seek out financial institutions that offer perks and incentives for loyalty. The best bank to bank with for your high yield savings account, retirement account, and other long-term accounts might or .
11. Bonus Offers
Look for bonus offers such as new bank customer promotions and introductory offers. Some of the best checking accounts and best online savings account promotions give you a cash reward. .
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