When you're checking out a bank, what questions should you ask? Here are a few:

  • What's the interest rate on various accounts?
  • What's the minimum deposit necessary to open various accounts? What about the minimum balance necessary to avoid fees once the accounts are open?
  • What is the per-check charge? What is the charge for ordering new checks? Will the bank accept industry standard checks printed elsewhere?
  • What is the charge for a bounced check?
  • Are canceled checks returned with the monthly statements? If not, what are the charges for having a canceled check returned?
  • What fees are charged, if any, to withdraw cash or make a point-of-purchase transaction (for groceries or gas, for example) with my ATM card? Am I charged a fee to speak to a teller rather than use the ATM for a transaction? Am I charged if I use another bank's ATM, even if they are in the same "ATM network?"
  • What online banking options are offered (assuming you're interested)?

Learn more in our All About Banking area. Our Savings Center is also helpful if you're thinking about how to best deploy your short-term moola.