How to select bank?

Answer 1

With all the large and smaller banks out there, it can be a pretty overwhelming experience when trying to pick one. Obviously I don't know the specifics of your financial health, so there are several things you have to keep in mind when choosing a bank:
1) Are you interested in a checking or savings account? Obviously, if you have a large nestegg that you want to store away at a bank, then perhaps a bank that offers a HIGH yield savings account is your best choice. You want to get the most bang for your buck. Or perhaps you are just looking to open a checking account so that you can pay your bills. Then you may need to find a local bank that you can do business with so that you have easy access to your funds.
2) FEES! Yes it is true, banks charge fees. You almost can't get around it. They want to charge you for keeping your money. Absurd. Yet there are a few out there such as Washington Mutual that are truly "free" banks in all sense of the word. Some banks advertise themselves as free, but may actually charge fees after a period of time. So you have to pay close attention to the fine print.
3) National or Local? Yes each one has its advantages. Obviously if you join with a larger national bank, you will have an easier time trying to gain access to your money through their numerous ATMs and avoid those costly ATM fees you get charged for using another banks ATM. The smaller banks may offer more personalized service but if you are traveling, you may have a harder time finding one of their ATMs.

So as you can see there are many things you have to consider which are specific to your situation. The best thing I would recommend is to visit http://www.bankrate.com and narrow your search by the options you are looking for. Good luck and I hope this helps.

Answer 2

Search around for the best rates for savings and cd's. Find a bank that is up to date on technology as far as the internet goes. You should be able to access and view your accounts whenever you want. Your bank should also be your friend when you need a loan. I bank with Chase and they take care of all my needs, they even give me interest on my checking account.