Banking Services

Are you ready to open a bank account? How will you find the best financial institution that meets your needs? Well, you can start by asking people in your family where they bank and what they like and don't like about it. Then, do some of your own research. It's important to know what a bank or credit union has to offer, and what they charge, so you can make an informed decision about where to begin when selecting a financial institution.

For example, say your bank charges you $1 for each transaction you make at another bank's ATM. If you go to 7-11 twice a week to withdraw money because it's convenient, you will pay $104 in fees for the year. What if you put that $104 in the bank every year for five years instead? At five percent interest compounded annually, that money would grow to more than $600. Which is a better use of your money?

Banking Fees

Choosing the financial institution that best fits your needs can have a big impact on your financial goals. Knowing what fees a bank charges for different services should be an important part in your selection process. In this interactivity, you will discover what those fees are. Click the player to begin.

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