Trying to find the best banks to work with can be quite the chore. There are so many different websites out their claiming to know which banks are the best but what is their rating system? It helps to know what the criteria is for ranking banks accordingly and helping customers to understand which bank they should avoid and which banks they should investigate further. At Banktruth.org we monitor bank rates daily and provide you with updated results. We only provide you with FDIC Insured banks in order to protect your investment. Here is a listing of some of the best banks we have noticed over the past year:
Aurora Bank
What makes Aurora Bank one of the best to work with? They offer a number of services but one of the features that makes them one of the best banks is their interest-bearing savings and checking accounts. They also provide services like money market accounts, CD accounts, and IRA accounts. They have a long history of providing customers with quality customer service, which is vital to our bank rating system. Their online account access system is easy to use and they have been proudly serving customers since 1921. To learn more about the quality services offered by Aurora Bank read up on our full review here.
Chase Bank
When banks are quite large it is common to see a lot of information out there about them. Many of the reviews are mixed when it comes to Chase Bank which is why we wrote up a helpful review that you can find here. Chase Bank is one of the largest and some of the common complaints are centered around customer service. As you know customer service is one of the main qualities we feel makes up a good bank so why are they still on our list of best banks? One of the big reasons is due to sheer amount of services they offer and how easy they make it to manage everything. Their online account access program is one of the easiest to work with and you can have multiple accounts in one user-friendly interface. From your mortgage account to multiple credit cards with Chase, you can get everything you need in a matter of seconds. There are also multiple branch locations in each state and expand into several countries as well. They also do a lot of promotional features to bring in customers such as giving you $100 to open a checking account with them. Read the fine print with Chase Bank as they do have some account fees if you do not maintain certain balance requirements.
Our Rating System
Everyone has different preferences and needs when it comes to banks. Our bank rating system has 7 sections that include 5 different metrics. These help us to consider a number of banks and we rank them based on specific elements. We encourage our readers to provide us with their experiences with their banks so we can include this information to provide you with only the best bank reviews possible. The 5 metrics we use to rank banks include the following:
- Overall Bank Rating
- Competitive Rates
- Account Fees
- Online Account Access and Features
- Customer Service
To learn more about the ranking system we use for CD accounts, money market accounts, checking accounts, savings accounts, and others read up on our bank rating system and leave us some feedback!
What Are Your Needs
For the bank reviews to provide you with quality information you need to understand what your financial needs are. This is why there is a lot of diversity out there among banks. Compare rates with several different banks in order to see which ones can help you to grow your nest egg and also to check on the banks that have hidden account fees and other things. There are a lot of banks out there that try to lure in customers with free checking accounts or will give you $50 for opening an account but they nail you with things like ATM fees and overdraft charges.
Questions To Ask
So now that you have an idea of how the bank reviews and bank rating system works, let’s help you get started on your journey to find the best banks. Here are some questions that you need to consider:
- Do you want to have a combined checking and savings account?
- How much money do you plan on keeping in your checking account and savings account?
- Will you use direct deposit or do you have physical checks that you need to drop off at the bank?
- How many checks will you write each month?
- How many debit card withdrawals do you make each month?
- How many ATM withdrawals do you make each month?
- Have you ever had an overdraft? How often does this occur?
- It is important to you to earn interest on the balance in your checking account?
- Do you use online account access?
- Do you like to use automatic bill pay programs?
- Is it important to you to interact with bank tellers?
- Is the bank FDIC Insured and how much protection do they provide?
- Are you planning to open a credit card with the bank? What about a mortgage loan, car loan, and other lending options?
When you have a checklist to get started it will help you on your search for a good bank. Plus having these items written down can also help you as you speak to account representative and focus on getting a free checking account that includes interest money. Negotiate for other things as well like getting a savings account opened for your children that includes a nice dividend amount. If you are hoping to save money for a rainy day fund you also need to speak to the bank representative about money market accounts and other investment accounts they can provide.
Never Be Afraid To Move
Once you are a customer of a bank you can start to form your own opinion of the bank. While the bank reviews out there may say certain banks are great with customer service, you may have a different experience with a bank. Always read up on the fine print with your account to make sure you can close your account without a fee and move to a new bank. It is important that a bank treats you fairly and that you work with a bank that you can really respect. A good bank is more than a brick and mortar structure; they understand your financial situation and will work with your needs. It’s not just the bank but the people that work for them that really help to create the best banks.
Best Banks According To Bank Reviews,
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November 9, 2011 at 7:10 am
I avoid using many bank products because it is hard to understand what banks you can trust. Thank you for providing all this information about what the best banks really are. I feel far more comfortable making choices about what banks to do business with now that I have read this article.
November 9, 2011 at 7:02 am
Very informative and well written. This article will really help in choosing the right bank. Kudos to the writer for the good research about this topic.
November 9, 2011 at 6:42 am
thank you for giving me to know about choosing a bank.This review is information on banks and interesting. That help many of individual choose the right bank. Thank you.
November 9, 2011 at 6:20 am
I may not be from the United States as those banks are. But knowing that they are members of FDIC is something that a depositor should look for when opening an account and saving their money. I also like the “Questions to ask portion of this article” is is very informative and helpful. I can surely use it when trying to open an account to a bank a am currently considering as my choice.
November 9, 2011 at 6:20 am
Hi! This article is very helpful especially for those who are planning to open bank accounts. Reviewing the status of the bank and other information about it before planning to transact should be every customer’s responsibility. There are a lot of banks now but only few can be trusted, so be wise.
November 9, 2011 at 6:02 am
Interesting discussion about the best banks based on bank reviews. This will be very helpful for prospect depositors as myself. Thank you very much. I’ll definitely share this article to my friend.
November 8, 2011 at 9:49 pm
Such an information on banks is the most wanted now a days due explosion of commercial activities through the Internet. Now, the customers can’t relay on local banks only, but they need banks on international level. Thanks for sharing the information.
November 8, 2011 at 9:01 pm
This review is not just informative but interesting as well! I got to know a lot of details about the best banks simply by reading this. This has motivated me to open an account with the top bank. Thumbs up to your article and keep sharing more with us!
November 8, 2011 at 8:55 pm
I learned a lot from this aritcle. As I concern about my banks. It relates to my safety and investment.
November 8, 2011 at 8:34 pm
Very informative information that will surely help many of us choose the right bank. This will help me when I’ll open again another account because I don’t like my bank as of now.
November 8, 2011 at 8:07 pm
many people dont know how to pick up a good and trusted bank to save teir money, and this artcile help me to choose the best bak. thank u for giving me know about choosing bank
November 8, 2011 at 7:27 pm
Never thought that i need to consider those question when opening a bank account.All i know is that, i need to see how much interest does a bank can give me after depositing certain amount of money in my account.Now i know and i think these are really helpful.