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How do I pick the best bank?

There is a great number of factors that should be considered before picking the best bank for you. There are different types of bank accounts, like the current account, savings account, and checking account. This article deals with the best kind of bank specifically for the checking accounts.

What is Checking Account?

A checking account is also knowns as a transaction account that facilitate withdrawals and deposits. Such accounts can easily be accessed via ATMs, cheques, and other methods.

Hence, if you want to open a checking account and is looking for an appropriate bank, you should consider the following things to pick the best bank:

No Monthly Fee

It is highly recommended that you choose a bank that allows you to open a checking account without any monthly fee. Ideally, there should not be any type of monthly charges; however, if you must pay them in a bank, select the bank with a minimum fee.

No Least Balance Obligation 

The best bank is the one that has no minimum balance obligation. It will ensure that there is no interest in your finance deposited in the bank, and hence you will not have to pay unnecessary charges.

No Restrictions of Transactions

Your bank should allow you to make as many transactions as you want. Along with the number, there should not be any limitation on the method of transaction. Hence, choose a bank that allows you to withdraw, deposit, and transfer money in your checking accounts without any limitations and substantial extra charges.

ATM Network and Access

Automated Teller Machine (ATM) is one of the best and easiest methods of withdrawing money from your bank account. While choosing a bank, you should find out about the reach of the bank’s ATMs and any charges they might cost upon each transaction through ATM. A bank with broad ATM coverage and the minimum transaction fee is the best bank.


E-banking has become extremely significant in today’s era of hectic schedules. It allows you to manage your bank account easily and make any transactions instantly. Hence, you should choose a bank that facilitates the consumers by providing e-banking, so you can easily check your account, pay bills, and make transactions by electronic means.

Overdraft Charges

Overdraft charges and protection affect the majority of bank consumers. One of the most straightforward strategies to avoid the overdraft fee is by linking your checking and savings accounts. As a result, you will not have to borrow from the bank while over drafting.

People who live paycheck to paycheck should definitely opt for overdraft protection. It should be made sure that the fee of associating two accounts is low, and there is no manipulation in the bank transactions. However, this condition is only applicable to those who do not have many funds in their accounts. If you have a healthy bank balance, you do not have to worry about overdraft charges.


After considering five of the steps given above, you should be ready to select the best bank for opening your checking or transaction account. Always remember that generally, the bank with the least fee in any kind of service is the best one.