You are trying to decide which bank to start an account at. You pull up a website that compares four of the most popular banks in your area. The chart on the site looks like the following one.

Question

You are trying to decide which bank to start an account at. You pull up a website that compares four of the most popular banks in your area. The chart on the site looks like the following one.

Bank A Bank B Bank C Bank D
Minimum Deposit Per Month $0.00 $100.00 $50.00 $10.00
ATM Fees $1.00 None $5.00 $3.00
Overdraft Fees $20.00 $10.00 None $40.00
Nearby Locations None 1 3 5

You make money occasionally tutoring. You like the idea of going into the bank and talking to someone when making transactions. You are pretty organized and think you will be able to keep track of how much money is in your account, so you are not concerned about overdraft fees. Which bank would be the best fit for your needs?

Answer 1

Based on your preferences and needs, it looks like Bank A would be the best fit for you. They have no minimum deposit per month, which is convenient for someone who doesn't have a steady income. They also have nearby locations, which is a plus if you prefer to do your banking in person. Additionally, they have a low ATM fee of $1.00, which is reasonable compared to the other options. Overall, Bank A seems to align well with your preferences and habits.