Most people need at least two accounts: checking for everyday spending and bills, and savings for money you don't want to spend by accident.
What to compare
- Monthly fees and how to avoid them
- Minimum balance requirements
- Overdraft settings and fees
- ATM network and fees
- Interest rate (APY) on savings
- Federal insurance: FDIC for banks, NCUA for credit unions
Keep them separate
Savings in a separate account, sometimes at a different bank, is less tempting to spend.
General educational information, not financial or tax advice. Cents and Common Sense isn't paid by any bank, lender or card company.