Best Bank Accounts

Best Bank Accounts – How To Find One Which Suits You

Wading through the paperwork to discover the best bank accounts can make the trials of Indiana Jones seem simple. But fear not – help is at hand.

Before opening any bank account it is essential to understand what you want and what is available. Below are the areas which you need to consider.

Access to your money.
Access to your money will come in several forms; a check book, cash card, debit card and online. So which of these do you want? The check book is becoming increasingly redundant, but since these are free there is no reason not to have one (and every now and then you may find a reason to write a check). A cash card and debit card are however essential. Then there is the issue of internet banking. There are several reasons to go for this. Firstly it is free. Secondly, you will find that the charges are often more favourable on internet based account (due to the reduced cost of overheads). Even if you are unsure as to how often you will uses online banking the best back accounts should have this facility; then it is just up to you when you want to activate it.

Interest
This is something which is easy to forget about. Most of us do not associate bank accounts with savings. Traditionally we would have our savings in a savings account and the money we want access to in the bank account. However, now these are often the same institutions. So do you want to have two accounts; one for savings and one for a checking account? This is a decision which you need to make and which will partly define how you manage your money.

Overdrafts
This is the dreaded topic – none of us want to live in debt, but sometimes it is unavoidable. We have all at some time written a check which went through our account a little quicker than expected. To minimise charges it is worth having small buffer of a hundred dollars or so, just in case. This may be something which you need to discuss with the bank either on the phone or at a branch. However, if they are not interested in helping with this, you may find that they are not a particularly flexible bank.

There is one last thing which helps to define the best bank accounts and that is the customer service. You need access to talk to someone when there is a problem. The difference between good and bad customer service is the difference between hating you bank, and simply not having to think about them.

So now you know what to look for you have to check out what is available which will meet your personal requirements. Remember that if you are not happy with you bank you can always move, and the best bank accounts will be ones where they will offer a service to move all your standing orders and direct debits as a free service!