It\u2019s important to first consider your everyday and long-term financial needs and how you manage your money. For example, you may want a money market account and a checking account<\/a> to manage your daily spending and longer-term savings. Not all banks have money market accounts, though, so if you want the convenience of having both account types at the same bank, you\u2019ll need to choose accordingly.<\/p>\n\n\n Many banks offer no-fee checking accounts and are your best option for eliminating unnecessary fees<\/a>. Some accounts take the no-fee angle even further, with no charges for overdrafts, check reorders, insufficient funds, or ATM withdrawals. Capital One accounts are fee-free: Add in no minimum balance requirements and you have more money in your wallet. Just look for the Capital One, MoneyPass or Allpoint logo to enjoy fee-free withdrawals<\/a> at over 70,000 locations.1<\/sup><\/a><\/p>\n\n\n\n On the other hand, some banks may waive fees if you meet certain requirements. This might mean maintaining a certain average daily balance, initiating a minimum number of monthly transactions, receiving a certain amount via direct deposit, or even maintaining a different account (such as a mortgage or an investment portfolio) with the same institution.<\/p>\n\n\n\n Some people prefer banking in person, while others don\u2019t mind conducting transactions through a mobile app, online, or over the phone. There\u2019s no right answer; just consider whether online banking or banking at a branch is better for you<\/a>.<\/p>\n\n\n\n As you wonder, \u201cWhat bank should I choose?\u201d consider the most important features to you, then find the bank that matches.<\/p>\n\n\n\n Tip:<\/em> Most banks are Federal Deposit Insurance Corporation (FDIC) members, but always verify that your assets will be insured by this independent government agency (and avoid banks that aren\u2019t FDIC-insured).<\/p>\n\n\n\n Finding out about a bank\u2019s products and services gives you an important starting point, but hearing from consumers who use those products can be invaluable when deciding. Ask your friends and family and read online reviews to make sure there are no red flags about how a bank treats its customers.<\/p>\n\n\n Lastly, look at specific terms or special features to determine the right account match for your needs. If the interest rate is conditional based on the account balance or is a promotional rate offered for a limited time for new customers, you\u2019ll need to keep that in mind, too.<\/p>\n\n\n\n Choosing a new bank is a big decision with far-reaching impact. If you learn how to choose a bank well, you can potentially save more, spend less, and even make more significant progress toward your money goals. Evaluating what you need from your bank and accounts helps you narrow the list and make a more confident decision.<\/p>\n\n\n\n![\"A](\"https:\/\/www.discover.com\/online-banking\/banking-topics\/wp-content\/uploads\/2024\/03\/How-do-I-choose-a-bank_InArticle-01-e1710952114994.jpg\")
<\/p>\n\n\nLook for low (or no) fees<\/h2>\n\n\n\n
<\/a>Compare local versus online options<\/h2>\n\n\n\n
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Examine convenience and security features<\/h2>\n\n\n\n
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Read reviews<\/h2>\n\n\n\n
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<\/p>\n\n\nCheck out the terms and conditions<\/h2>\n\n\n\n
How to choose the right bank<\/h2>\n\n\n\n