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What bank would be the best one to open a savings account? |
Hi, I wanted to open a savings account and which would be the one with the most benefits for a student. Please and thank you. :] Well, In determining what would be the best place to open a savings acount, you may want to look for a local credit union. Many larger universities have their own onsite credit union for employees and students. As far as banks go: Bank of America and Citibank (if you have citi in your area) usually offers really good rates for savings accounts. But you are better off getting a credit union. Source(s): http://www.citi.com None. Go to a building society. and you live where in the world regards Call three banks near you, ask what intersest rate they pay on savings accounts, what the minimum starting balance is, and then pick one. Wells Fargo is good for a bank. But I would go to a local Credit Union. It's a community thing. And most Banks are run by the man! They charge lost of fees, where as most Credit Unions don't. If you don't need to have all of the money available all the time, try opening a combination of a checking account and an ING Direct Orange savings account. This is what I do. I've found that the ING Direct account has a much higher APY than any savings bank by far, at 4.5% while most banks are somewhere around 3%. However, you do need to wait 4 or 5 days to make a transaction from account to account, because you can't withdraw directly from the ING account, so it's necessary to keep as much money in the checking account as you might need in those 4 or 5 days. If you don't have more than a few hundred dollars at a time (because you *are* a student) then this might not be feasible. But I've found it works perfectly for me, and I'm constantly shifting money back and forth. |
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