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How to make financial choices without overanalyzing

Episode description

Maddie asks how to pick a bank from all the different options: credit union, online bank, local bank, multi-national – how do you choose?!

Choosing a bank is hard!

Some things to consider:
  • How often you need to deposit cash or checks too large for an ATM
  • Hours of the bank
  • Banking fees for holding account
  • Minimum balance required
  • Other account requirements (direct deposit or debit transactions)
  • Your politics (would your rather have a bank or credit union?) – check out this list of political donations by banks
  • How good the app or online access is (does it make your eyes bleed?)
  • If they have credit builder cards
  • If you want manual underwriting for a mortgage
  • If you get free checks with the account
  • Sign up bonuses!
Some banks we mentioned (no referral links below, just information!)

I print all my checks at home directly from Word. It streamlines a lot of processes for me! If you want to print your own checks, here’s check paper!

As always, please write in with any show questions to questions @ ohmydollar (dot) com – and let us know if you don’t use a bank or how you chose the one you have now!

 

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