Are you a recent college graduate? Congratulations! It’s an exciting milestone, but it also brings a new wave of responsibilities, like managing your finances. Are you ready to step up your adulting skills? With so many banking choices, how do you find the one that best suits your needs? Don’t stress, though; we’ve got you covered. Let’s get started!
First things first: it’s important to figure out what you actually need from a bank. Are you simply searching for a checking account, or do you need savings and credit card services? Identifying the products and services you’re looking for will help narrow your options. Once you know what you need, it’s time to do some research into what specific banks offer.
- Fees and Charges: Most banks charge fees, so it’s important to be aware of recurring monthly costs, including ATM usage, overdraft charges and transaction fees.
- Customer Service: Search reviews to see how well a bank supports its customers. You might even try calling to make sure they are easy to contact. If you ever need assistance, having reliable customer service is important.
- Online and Mobile Banking: Do the banks that interest you have a mobile app? Is it easy to access your accounts from any device? When you are on the run, online banking can make it easier to handle your finances.
- FDIC Insurance: Confirm that the bank is Federal Deposit Insurance Corporation (FDIC) insured. The FDIC covers deposits up to $250,000 per account holder, providing significant security. Knowing that your money and savings are protected gives you the confidence to focus on your financial goals.
- Interest Rates: Compare interest paid on certificates of deposit (CDs), loans and savings accounts to find the best rates. That puts your money to work for you.
This might seem like a lot of information to compile, but it’s worth it. The right bank can provide financial security, convenience and help you build a solid financial base for the future. It’s also good to have a bank that appreciates you as a customer and is available to provide assistance and guidance when you need it.
One more tip – we know one bank (surprise!) that checks all the boxes! First Internet Bank offers a full range of FDIC-insured banking products with highly competitive interest rates, backed by personal service and a user-friendly online/mobile app. Check us out!
Written by Taylor Amos
