Choosing A Bank

---

Shop Around

• Choose a bank with a strong reputation.
• Compare how services differ from one bank to the next. The Bank Comparison Chart can help.
• Look for conveniences such as ATM and debit services and electronic banking services.
• Think about every benefit a bank offers. Do not choose one just because it offers gifts, vouchers, or cash rewards for opening an account.

Banking Tools

• Checking and savings accounts help you handle money safely and track what you spend. Accounts created especially for students are usually the least expensive. Some accounts earn interest (money the bank pays you for keeping money there), but the amount will vary based on the interest rate. You may have to keep a minimum balance in your account to earn interest.
• Automated Teller Machines (ATMs) let you use a plastic, coded card to withdraw cash, deposit money and check your account balances any time of day. Find out about ATM fees. Many banks charge extra for using other banks’ ATMs.
• ATM/debit cards look like credit cards but work like checks. Using an ATM/debit card is safer than using cash and easier than writing a check. Money is subtracted almost immediately from your account each time you use your ATM/debit card.
• Pre-paid spending cards can be used anywhere credit cards are accepted and work like gift cards. With a pre-paid spending card, you cannot spend more money than you have on the card.
• Overdraft protection is like a backup for your checking account or ATM/debit card. If you mistakenly spend more than you have in your account, overdraft protection authorizes the bank to move money from another account to keep you from being overdrawn.
• Online banking services let you manage your money from any computer with an Internet connection. Make sure a bank’s online services are secure, easy to use and provide the services you want.

Protect Your Money