Services You Need
Know what financial services you want from a bank and focus on banks that provide that type of service or offer the financial product you’re looking for. For most individuals, that may mean a commercial bank, but also consider a credit union if you qualify for a membership in one.
Look for low or zero fees. Fees can vary widely depending on the type of banking product or service, as well the bank. Typical fees include monthly maintenance fees for each account, credit card fees, ATM fees, overdraft fees, early withdrawal fees for CDs, overdraft fees if you spend more than is in your account and fees for other products or services. Check on all potential fees before you open a new account.
Make sure the bank has locations convenient for you. Find out if it has branches near where you live, work or travel frequently. Check to see if it has ATMs where you need them, so you can avoid ATM fees. Also, consider how convenient an online-only bank may be for your lifestyle.
Read reviews of the banks and credit unions you’re considering. Compare ratings on customer service and whether you’ll benefit from the products and services they offer. Most people typically stay with the bank they choose for a long time. Make sure it’s a good fit.