What is the best bank to open up a savings account with?
I live in claifornia and my local banks are bank of the west and wells fargo and bank of america is kinda far away but i could still get there. Im 18 and i want to open a savings account but domt know which bank to go to. I guess im looking for the bank with the highest interest rate and i dont have ro pay fees. I tried looking for information online but it would make try to download the info i want but it let me download. I just wanna know the interest rates for banks and if theres fees and hot the fees can be waived and other info i should know about that bank or banks. Ty
bank best answer:
Answer by Tiffany Y
Find a credit union and open at least a checking account. Credit unions are owned by the members so on average they have much lower fees and interest rates on loans. This is where you will go to cash checks, withdraw money, anything that needs to be done in person.
For savings where you want to make a higher interest rate try an online saving account like Personal Saving by American Express. These pay much higher than standard bank savings accounts (although no savings accounts are paying too much right now). You will be able to link the online savings account to the credit union checking account and transfer money back an forth as needed (since this is a savings account ideally this is just bi-weekly or monthly).
This is what I've done for the last couple years and it has worked great! I get the higher interest rate on my savings (no minimum balance and no fees) and still the no-fees and convenience of dealing with a credit union for day to day stuff (paying bills, depositing pay checks etc).
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