5 tips for choosing a community bank

3 of 7

When you use a large national bank, there's a perception that you'll have a coast-to-coast ATM network.

But choosing a local bank doesn't mean you're going to rack up a small fortune in ATM fees when you go out of network. According to Lewis, a community bank may be part of a pretty big network that gives their customers options locally and away from home. Even better, Lewis reports, some community banks waive fees on out-of-network ATMs, if the total number of transactions is below a monthly threshold.

Still, those details vary with each bank because fees negotiated between banks and ATM networks aren't uniform. So it pays to check with a bank and weigh your needs against their fees.




Show Bankrate's community sharing policy
          Connect with us

Learn the latest trends that will help grow your portfolio, plus tips on investing strategies. Delivered weekly.

Ask Dr. Don

Quickest path toward $1 million?

Dear Dr. Don, This question involves how best to make for a better life for my family. How can I make a one-time investment of $5,000 grow into $1 million or more over 60 years? One of my broader goals is to encourage my... Read more

Partner Center

Connect with us