Comparison Shopping By: Chaston Hill. When Choosing a Bank…  What steps should I take and where do I start?

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Presentation transcript:

Comparison Shopping By: Chaston Hill

When Choosing a Bank…  What steps should I take and where do I start?

Questions that you should ask!  Is your money secure?  How much does the account cost?  Online bill paying options?  Is the bank accessible enough to meet your needs?  Convenient locations ?  Are there minimum balance or minimum deposit requirements?

Bank of America Business AdvantageBusiness Fundamentals Good for you if Your average monthly balance is greater than $15,000 You typically write and deposit fewer than 500 checks per month You typically deposit less than $25,000 in cash per month Your average monthly balance is less than $15,000 You typically write and deposit fewer than 200 checks per month You typically deposit less than $10,000 in cash per month Business savings account Business Interest Maximizes no additional monthly fee Business Investment Account no additional monthly fee Second business checking account No additional monthly fee$12 Account Management No monthly fee$15 Stop payments No fee$30 per item Incoming domestic wires No fee$12 Incoming international wires No fee$16 Personal checking account No monthly fee for first 12 months Monthly fee No monthly fee for the first 3 monthsNo monthly fee for the first 2 months

Bank of America  Bank of America has been with us sense  They are a well established company, that provide you with lots of information regarding their accounts and banking information.  When you go on to their website you are almost immediately prompted with a live assistance that will help you with questions that may arise.  They are one of the nations Top Banks.

Wells Fargo Gold packagePlatinum PackageBusiness Checking Account OverviewA relationship package for growing businesses that provides exceptional value and many ways to waive the monthly service fee. A relationship package for established businesses with greater checking account activity. This versatile and low-cost account is suitable for businesses with moderate transaction activity. Monthly TransactionsUp to 200 transactions per month Up to 400 transactions per month Up to 150 transactions per month Business Bill Pay free of Monthly Service Fees No Fee Bonus Interest Rate on Business Market Rate Savings Account No Fee Free Access to online BankingNo Fee Free Mobile BankingNo Fee Free Business Spending ReportNo Fee With Interest Option No FeeAvailable Monthly Service/ Maintenance Fee $14 $30$12

Wells Fargo  Wells Fargo has been with us sense 1852 much longer than bank of America.  They are also a Well established company but are they better than bank of America?  I think that they provide you with more account options to optimize your personal control over your accounts.  Bank of America gives you certain guidelines and you have fewer options unlike Wells Fargo.

Chase Business Economy Checking Business Checking Platinum Access to 19,000 Chase ATMs nationwide No Fee Online Bill Pay No Fee Alerts No Fee Online Check Images No Fee Online Statements No Fee Business Debit Card No Fee Strength & Benefits Overdraft Protection available Business online services Only $25 minimum to open Overdraft Protection available Business online services Package of additional benefits for business savings, CDs and personal checking Overdraft Protection available Business online services Access to cash management services

Chase  In 1923 was when Chase became an official Company.  Like Wells Fargo, Chase allows you to have more control of your accounts.  Offer different individual sets of account that will best fist your needs, even if its work or business related.  Chase does a well job prompting its company to further better peoples needs.

What is the difference between a Credit Union and a Bank ?  Credit Union  Non-Profit  Owned by their Members  Governed by board of directors Elected by Members.  Accept Deposits from their Members.  Bank  Regional or national for- profit business  Owned by Private investors  Governed by board of directors chosen by the stockholders

Credit Union Or Bank  When you walk into a Credit Union you automatically feel much more at ease. People that work in Credit unions are nice people and you feel more comfortable.  The fact that the company is owned by you, in a way, is a much better idea, because without the people in the company it would not strive.  When with a Credit union you generally get better interest rates in your saving accounts also. CU!

More Reliable?  Banks board of directors are chosen by stockholders.  What is a stockholder: someone who holds shares of stock in a corporation. More or less they deal with money, and want more and more of it. Is that really who you want bank with?  Be realistic when you do some background check on your bank or credit union. To be sure they have a good record.

Work Cited