Do you need help finding a new place to store your money? Be sure to do some research before you go and open a new bank account. Most people skip the step of checking out their new bank first. It’s important to investigate the financial soundness of your bank, interest rate paid on your account, and any perks that you bank is offering.
Here are a few great websites that you should use when looking for a new bank.
Websites such as Bankrate.com are excellent resources to use when seeking to pick a savings account with the highest interest rates and minimum balance requirements. Every investor should have an online savings account. Online banks tend to pay much higher interest on saving accounts then traditional banks due to lower overhead costs. They have fewer physical locations and smaller staff to pay which enables them to offer premium rates on savings accounts. Use Bankrate to run a search on the soundness and rating of your online bank.
It’s important to make sure that your new bank is FDIC insured. Most online banks are insured by the Federal Deposit Insurance Corporation, just like their big bank brethren. You can check the FDIC’s website (www.fdic.gov) to verify that deposits are insured. The FDIC insures deposits up to $250,000 per account. Examples of FDIC insured online banks are ING Direct, Capital One Bank. You can rest a lot safer at night knowing that your deposits are insured.
Maximizing Money.com is a great site for finding the best bank offers and perks for opening a new account. Banks are giving away free cash to attract new customers. You can gain amounts varying from $50 dollars to $200 just for signing your name on the dotted line. All you have to do is check out the site and use the discount code when filling out your application. Who couldn’t use some extra cash in their bank account?
Money Aisle makes shopping for a savings account easy. The site uses a unique auction format in which banks and credit unions line up to bid for your business. Money Aisle has over 112 different financial institutions across the country. Since the auctions are transparent you can see which financial institution offered the highest bid before applying for an account.