If you could choose a bank account based on just one perk, what would it be? Here’s what other consumers said.
When you’re planning to open a bank account, it’s easy to get overwhelmed by all the benefits on offer. A good way to narrow down your options is to start with one must-have feature you can’t do without.
The Ascent recently ran a survey to find out what consumers want from banks. In it, consumers were asked what they’d want if they had to choose a bank based on a single factor. Here are the top seven choices, along with the percentage of respondents who chose each one. If you’re new to banking or you want to know what to look for in your next bank account, these responses could be a big help.
1. Low fees (21.25%)
Over 1 in 5 consumers wanted to keep fees to a minimum. The good news is that bank accounts without monthly fees are more common than ever, especially among online banks.
Some bank accounts waive monthly fees, but only if you fulfill certain requirements. This could involve maintaining a minimum balance or receiving a minimum number of direct deposits. To avoid unnecessary fees, make sure you understand any conditions before you open an account.
If you want your banking to be as straightforward as possible, there are also bank accounts with no monthly fees or account minimums…