You have several factors to keep in mind when choosing the right bank. Fees A bank may charge fees for specific transactions or to manage and service your account each month. Some banks may provide a way to avoid bank fees, such as by meeting minimum balance or deposit requirements each month. Bank fees can undermine savings efforts unless you can meet the requirements to have them waived. If not, find a “fee-free” bank that may charge only for less common occurrences like wire transfers and late payments. Accounts and Services Full-service banks generally provide the gamut of bank account options and other financial services, such as credit cards, lending, retirement and investment accounts and services. Other banks may focus only on a few specific products or services. Choose a bank that offers the types of bank accounts you want to open. Interest Rates Shop around to find the best interest rates to maximize your savings. Earning a higher annual APY will help you grow your account balance faster. Account Minimums Some banks require a minimum deposit to open an account or a minimum ongoing balance to avoid monthly service charges. Make sure you can meet the account minimums before you sign up. Customer Service Support doesn’t look the same at every bank. Some banks focus on in-person services, while others may offer a variety of ways you can get help, including phone support, private messaging and email, live chat and virtual mobile assistants. Find a bank that offers your preferred methods of contact and support. Convenience It’s good to know you can access your money when you need to. Some banks provide ways to access your funds earlier than others. Look for banks that offer multiple methods to access funds or manage accounts, such as ATMs, mobile and online banking services, bill pay and other convenient tools.