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Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.
Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.
We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.
Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service.
Comparing banks to find a financial home
Between the list of bank failures in 2010 and drops in customer satisfaction at some of the nation’s biggest banks, many consumers are searching for a new financial home. From community banking institutions and credit unions to direct online banks, you can compare alternatives to financial giants to find a great fit for your spending and saving style.
Rates to celebrate
Whether you are looking to open a savings account or get a new credit card, community banks and credit unions typically offer very friendly rates for consumers. Customers are taking note, too. A 2009 survey of the Independent Community Bankers of America shows that more than half of community banks saw an increase in deposits from new customers. Be sure to research interest rates and how each bank compounds interest to understand how you can grow your money.
Account education
As you compare banks, be sure to get an in-depth tutorial of the fees that may be imposed on your account. If you are a frequent traveler who needs regular access to cash at an ATM, an institution with a large network of ATMs or a bank that reimburses ATM fees will ensure you don’t rack up hefty penalties for withdrawing your money.
Online banks
As the financial industry has been forced to restructure some of the ways retail banking works, direct online banks have emerged as a popular choice for many consumers. Online banks such as Ally and ING Direct offer account options with high interest rates and no account minimums. Before you choose to open an online bank account, it’s important to fully understand the differences of online-only banking.
It’s no secret that many financial institutions have struggled amidst the troubled economy. Before you open a new checking or savings account anywhere, knowing the bank’s financial stability is key. Use Bankrate’s Safe & Sound rating system to discover how banks are performing based on four key factors: capital adequacy, asset quality, profitability and liquidity.
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