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If you reside in the United States, this page can be very useful to inform you about the banking products offered by financial institutions in the USA. With updated analysis on the
most important aspects.
Here you can find credit cards, personal loans, checking and savings accounts, mortgages and soon certificates of deposit and other interesting products. All of them carefully examined by our experts to provide all the information they need in an easily
understandable way.
What should you keep in mind when choosing a bank?
There are many factors that can condition the choice of one bank or another. Here are some to keep in mind:
- What commissions apply? In any banking product, there may be a series of expenses and commissions (fees) that can be high. It is important to compare to try to avoid them or at least not paying too much.
- What requirements does it ask for? Find out about the various conditions required to contract the products that interest you. It is common, for example in checking accounts, to have to maintain a minimum balance to avoid the monthly fee. They can
also require you to take out a credit card and even use it a minimum number of times.
- Does it operate in the state in which I reside? Except for the largest banks, such as Bank of America, Wells Fargo or Chase, most financial institutions do not have offices in all states, so you should make sure that the one you choose does. If you
want to use them, because many allow you to operate online without having to go to a branch.
- Does it offer online banking? Nowadays, it is very interesting to be able to operate with your bank through the Internet, saving you displacements and queues.
These are some characteristics that you should check before deciding on a financial institution to manage your money. You can also have your own preferences, such as having an office near your home.
Are online banks worth it?
The short answer is: yes, the long answer: it depends. Financial institutions have a series of advantages that, in principle, tilt the balance in their favor, but they also have some drawbacks that, depending on your preferences, can be quite important.
Advantages of online banks
These are the main benefits that we can obtain with online banks:
- Fewer commissions. Most Internet entities do not charge for the main expenses, such as the handling fee, transfers, debit and even credit cards, and in the rest they have lower commissions and their loans are cheaper.
- Remote operation. You do not have to go to an office to operate with your account or contract other products. From the processing of contracting your first current account, to even the process of formalizing the mortgage, before the final signature,
they can be 100% online.
- Better returns. Its checking, savings and certificate of deposit accounts are often among the best paid in the country.
Disadvantages of online entities
Although the above benefits are very important, due to the savings in time and money they entail, there are also disadvantages that may be an impediment depending on your preferences or needs. The main defect is the absence of physical offices where you
can operate.
En español: Bancos de Estados Unidos