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5 tips for choosing a community bank

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Fees come with banking, and every bank is different. Depending on how much money you have on deposit there can be a fee for maintaining the account, and there are almost certainly fees for things like wire transfers and bounced checks. While Cornett says big banks should be able to offer services at reduced costs because of economies of scale, Lewis argues that community banks are often more competitive.

"We're smaller, and we're very sensitive to fees because our customers are going to be more vocal," says Lewis, adding that they might charge more to have an account, but will likely charge less when a check bounces.


 

 

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