Best Banks In USA

Knowing The Best Banks In USA

Staying in America and wondering which bank will be the right choice for you? Well, to cut it short, there is not any particular bank that is the best. Wondering what I am talking about here? Just hold on! Will you agree when I say that according to the needs of an individual the choice for the best bank will vary? If so, then to point out the best banks one needs to consider certain factors.

 

What Are The factors?

For an individual, while the online banking facilities may make him/her choose one particular bank, for the other the convenience or the savings rate may be the deciding factors. So, instead of pointing out the different number of factors and confuse you even more, let’s just settle down with five important factors for consideration here.

So, what are they?

1.      Fees:  you are most likely to find a bank that doesn’t charge a fee amount, isn’t it? So, the fee amount can be a real big factor in making you decide the best bank. In most of the cases, $10 is the most optimum fees. So, as a solution, you can either look for a bank that does not charge any fee or the bank that can waive your fee on the condition that you have maintained a proper monthly balance. The fee can be a problem in case of students and hence the bank that helps you with this feature can be tagged as the best banks for students

2.      Easy Access: For someone, who has to do with the cheque deposits frequently, depositing the cheques on a bank which has got just the online facilities will delay the entire process.  Again, if you frequently withdraw money via ATM, make sure that your bank has wide networks of ATM. ensuring this will eliminate any additional charges for withdrawing money. Also, if you are a frequent traveler to banks, the location of the bank will also matter

3.      Services: While most of the banks these days provide a wide array of services, also they include a particular amount for that service. Now, if you really don’t need the service, is it worth paying that fee amount? Definitely not, isn’t it? So, choose your bank according to the services that you will need

4.      Customer Service: For every individual, there comes a point in life when you need to talk to a bank employee. While this can be done by visiting the bank, for very simple and immediate issues, the customer service executives can come to your aid. So, make sure that you opt for a bank that offers you such online options and at any time of the day

5.      Higher Interest Rate: Who doesn’t love to make some extra income? And, the bank which gives you a good interest rate on your savings amount is the best choice. In this case, the online platforms offer you good interest rate

So, these are the basic five points that can be taken into consideration. And, your search for the best bank will also depend on these factors.

 

Best Banks Of America

As now you know what to look for, so based on these and some other general factors let’s point out the name of some of the best banks of America.

1.      Chase Bank:  If you are looking for an easy access, an also taking care of the affordability part, then this will be the best bank for you. However, if you want a good interest rate, then this may not be the right bank. But considering the number of branches or its ATM coverage, this bank definitely tops the list. The chase student account is simply well-known feature among the student users. The students get the best of everything here with the best student credit cards.

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Key Points

·         You have to maintain a checking fee (standard) amounting to $12 for a month

·         Your checking fee can be waived off if you are maintaining an amount of $1500 daily or $500 on a monthly basis

·         APY available for savings account is 0.00%

·         There are a number of mobile app features that can be used for bill payment, P2P transfer, check deposits etc.

2.      Wells Fargo: When it comes to the number of branch or ATM coverage in the USA, there is hardly any competitor for this bank. Also, note here that the year 2016 saw the downfall of this bank due to the generation of a number of fake accounts. Assurance was given by changing the policies and training the employees so that the same thing doesn’t repeat again

Image result for Wells Fargo logo

Key Points

·         Checking fee is $10 a month, which is comparatively less than the above-mentioned bank

·         If you don’t wish to pay any checking fee, purchasing 10 debit cards or maintaining a daily balance of $1500 or $500 monthly can help you save some dollars

·         APY is again 0.00% here

·         A number of mobile apps for bill deposits, P2P payments, transfers etc.

3.      Bank of America: Bank of America is another one of the best banks in the country. You should go to this bank if you are a student. One of the largest (Third-largest) banks in the country, the bank offers a particular Core Checking Account, and that too for free. This includes generous amounts of debit and the ATM withdrawals limit as well. The amazing student credit cards offered here make it one of the best banks for the students in America.

Image result for bank of america logo png

Key Points

·         You will have to pay a student checking amount of $12 per month

·         The Paper Statement amount is decided to be $5 per month. However, it is absolutely free for the electronic statements

·         The Savings APY provided is 0.00%

·         You can withdraw $1,000 every day

·         The limit for debit purchase daily is $5,000

4.      TD Bank: When compared to the other national banks, TD Bank proves to be a diamond in the coal mine. One of the major difference between other banks and TD Bank is that they offer a 0.01% APY on the saving while TD Bank offers a striking 0.05%. The interest rate on a particular savings account at TD Banks is dependent on the amount of the balance. If you have a balance less than $300, you will have to pay a maintenance fee every month. There is also an option of getting a free savings account at TD Bank.

Image result for td bank logo png

 

Key Points

·         APY of 0.05% on Simple Savings, 0.05% to 1.00% on the Select Savings, and 0.5% to 0.35% on Money Market

·         Minimum balance requirement is $0, $0-$100,000, and $ 0 to $100,000 for Simple Savings, Select Savings, and Money Market respectively

·         You can waive off the monthly fee if you have a balance of $300 for Simple Savings, $15,000 for Select Savings and $2,000 for Money Market.

5.      PNC Bank: For those who want merchant services and accounts of business checking, PNC offers the best of the best. A superior option than many other national banks, this bank gives a tough competition to the regional bank online, providing reliable features for an easy regional bank login. There are comparatively high limits when to comes to business activities and low business costs. You also have 1,500 transactions for free for the business Checking Preferred Account. Additional transactions cost $0.25 each.

Image result for PNC Bank logo png

Key Points

·         Deposit payments from cards liked with merchant services of PNC

·         On-site deposits, cash logistics, and payable services offered

·         Different net purchases for different types of accounts

·         Monthly balance ranges from $1,500 to $25,000

To Conclude,

Now, do you get what we were trying to convey? Selecting the best bank in America totally depends upon the requirements of the customer. Find what you are looking for in the different information sites of the best banks in the USA. Maybe you will find the perfect bank for you.

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