There are so many banks to choose from in every state of America…..so, how do you choose the one that’s right for you?

The three main types of banks in America are:

National Banks:  Large banks with nationwide branch networks across the country (Wells Fargo, Chase, Bank of America).

Regional Banks:   Smaller and localized banks based in a specific geographic area.

Online Banks:   Virtual banks without a physical location or branch.  All transactions are either done online or over the phone.

You will want to choose a bank that has suitable branch locations, good online banking features, different account offerings and of course good customer service.  Because of the competition, many banks will provide incentives and perks to entice you to build a banking relationship with them.  They definitely want your business.

Here are some things to keep in mind when you are looking for a new bank:

1. Interest rates offered on accounts, fees associated with accounts/ATM withdrawals, account maintenance fees and there “small print” terms and conditions?
2. Do they provide overdraft protection on accounts?
3. Do they offer mobile deposit, on-line bill payments, cheque imaging?
4. Do they have deposit insurance on all their accounts?
5. Can they do wire transfers?
6. What is their overall reputation like? Do the people that work in the bank look happy?
7. What is there hours of operations and how many branches do they have?
8. Interest rates offered on loans, mortgages and lines of credit.
9. Can they offer different products and/or services that will suit your future needs.
10. Do they offer business banking, investing options, or financial planning options.