Common types of bank accounts include: Savings accounts, Checking accounts, Certificates of deposit accounts and Money market accounts. You may want to take your time comparing similar options alongside each other when choosing a bank account for you.
How do you compare bank accounts?
Bank details as simple as the highest APY shouldn’t be your sole basis for comparison for some of these account types. First, consider your goals and priorities for a bank and account type you are looking for. Are you looking to build an emergency fund or looking for an account for your business? Consider fees, like for maintenance and overdraft that can have an impact on your balance. Consider convenience and accessibility, which may be less of an issue if you’re using one of the best online banks.
Banks commonly offer similar rates and offerings so the smaller minute details along with the terms and conditions are something you should pay attention to when comparing banks.