Investigate two financial institutions, a) your current financial institution and b) another one you are interested in. After you have answered the questions that follow, you will compare your institution to the one you selected (including online banks).
Answer these questions:
What is the interest rate on savings accounts at each institution?
What are the current rates on CDs at each institution?
Are there checking account balance requirements at each institution?
Are there saving account balance requirements at each institution?
Are there charges for not meeting account balance requirements at each institution? Give examples for two (checking and saving accounts)
What is the NSF charge on checking accounts at each institution?
Does the financial institution website appear easy to navigate and use?
Is there a limited number of times you are allowed to transact (withdraw or deposit funds) at each financial institution?
How many times a month do you go to your financial institution?
How many times a month do you use online or mobile banking services?
Based on your research, which institution best serves your needs and why?
