Top 10 Personal Banks For 2015

Without even knowing it, your personal bank can really make or break your view on financial institutions. Since it is something most of us use each and every day, having a disorganized bank with high fees can really take a toll on your wallet. Interest rates can help your money pile grow without you realizing it, and choosing a bank with great rates is essential to managing your finances in a healthy manner.

With these things in mind, here is our list of the top ten banks in 2015:

Wells Fargowells fargo

Bank Type: Branch and Online
Checking Interest Rate: 0%
Savings Interest Rate: 0.01%
IRA’s: Available

Wells Fargo Bank has been around since the mid-1800’s and they seem to pride themselves on customer service. Although they do not offer interest on their checking or savings accounts, Wells Fargo offers other perks for its customers. They provide foreign currency services so you can exchange funds before you leave the country, basic loans to fund what you need and when, and retirement solutions to plan ahead and save for the future.

Chase BankChase

Bank Type: Branch and Online
Checking Interest Rate: 0%
Savings Interest Rate: 0.01%
IRA’s: Available

Established in 1799, Chase Bank is the oldest financial institution featured on the Top 10 Personal Banks of 2015 list. With tons of ways to waive their $5 monthly fee, there is no surprise that this bank has grown to such popularity. The fee is minimal, but if you don’t want to pay $60 per year to bank with Chase, you can easily avoid it by having a $300 minimum daily balance, at least one automatic transfer of $25 or more to your checking account regularly, the account owner is under the age of 18, or when you link your Chase account to any other Chase account you may have.

Also, read >  5 Reasons Uber Can Be A Risky Choice (For Drivers And Passengers)

AllyAlly

Bank Type: Branch and Online
Checking Interest Rate: 0.10%-0.60%
Savings Interest Rate: 0.99%
IRA’s: Available

With a zero dollar minimum deposit and no annual fees, Ally Bank really works to help you grow your money. With some of the highest interest rates out there at 0.99% for a savings account and 0.10% for a checking account, Ally helps you save and earn more. Part of Ally Financial, Ally Bank is headquartered in Midvale, Utah, and has over 600 employees across its two U.S. offices.

USAA Federal Savings BankUSAA

Bank Type: Branch and Online
Checking Interest Rate: 0%
Savings Interest Rate: 0.05%
IRA’s: Available

Another personal bank that does not offer interest on their checking and savings accounts, USAA Federal Savings Bank makes up for it with their other financial products. Founded in 1983, USAA Federal Savings Bank offers everything from auto and home insurance to CD’s and college savings plans. As an all in one financial institution, USAA Federal does a great job of being a one-stop shop for their customers.

Simplesimple

Bank Type: Online
Checking Interest Rate: 0%
Savings Interest Rate: N/A
IRA’s: N/A

The most recently founded bank on the list, Simple provides online budgeting solutions to its customers. Having a strictly online bank can be tough for some people, but in reality, not paying for brick-and-mortar locations can actually decrease costs and fees overall. Simple is geared towards saving and budgeting, and provides customers with various tools to reach their financial goals.

Bank of Americabank-of-america

Bank Type: Branch and Online
Checking Interest Rate: 0%
Savings Interest Rate: 0.03%
IRA’s: Available

Possibly the most well-known bank mentioned on the list, Bank of America has its reputation on its side. Convenience is a huge factor for most customers, and BOA is up there with Discover Bank. Branches and ATM’s are located in various locations across the country and are easily found with their online branch location feature.

Also, read >  5 Reasons To Transfer Your Money From A Bank To A Credit Union Today

Discover Bankdiscover-bank

Bank Type: Branch and Online
Checking Interest Rate: 0%
Savings Interest Rate: 0.95%
IRA’s: Available

In terms of convenience, Discover Bank can be considered a winner when it comes to comparing them to other financial institutions. There are over 60,000 free ATMS in the United States that accept Discover debit cards, and reordering checks is completely free of charge. One of the best parts of being of Discover Bank customer is that for every check you deposit you earn 10 cents. It isn’t a huge amount, but considering you would be doing that for nothing with any other bank, it is a neat aspect of their services.

Bank of the WestBank-of-the-West

Bank Type: Branch and Online
Checking Interest Rate: 0.01%-0.03%
Savings Interest Rate: 0.03%-0.20%
IRA’s: Available

Bank of the West only services certain states at this time, generally in the western section of the United States. Monthly fees can be up $30 for their checking and savings accounts, so be sure to enroll in a program that will waive the fees for you. This includes having a minimum monthly balance or receiving direct deposit into the account. Other than fees that can easily be waived, Bank of the West provides quality banking services to their customers.

Union BankUnion-Bank

Bank Type: Branch and Online
Checking Interest Rate: 0%
Savings Interest Rate: 0.01%
IRA’s: Available

Union Bank has 398 branch locations in California, Oregon, and Washington and is owned by Japanese Tokyo-Mitsubishi Bank. Although their branch locations are limited, banking and other services are available in various states across the country. They recently introduced an app for Android and IPhone, which helps customers manage their accounts on the go.

RBS CitizensRBSCB

Bank Type: Branch and Online
Checking Interest Rate: 0.01%
Savings Interest Rate: 0.01%-0.05%
IRA’s: Available

RBS Citizens Bank offers savings accounts for college students and home-buyers that accrue interest over time. They also offer assistance in closing costs if you have a home-buying savings account, up to $1,000 with a Citizens Bank mortgage. The interest rate varies and depends on the account you have and what you are saving for, so be sure to take advantage of the correct accounts for your needs.

Also, read >  From Boom to Bust and Back: Recovering From Bankruptcy

Having a great personal bank can give you a positive outlook on your finances. Depending on your situation, you may be more interested in accruing interest or having a bank that offers all of your financial needs in one stop. No matter the circumstance, it is important to be informed and do your research before trusting your money with any bank. Use this list as a reference guide when considering personal banks and how they can assist you with your goals.