Personal Finance 

Best Banks For Your Money

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Best BanksIn the end, of course, the best bank is the bank that fits your needs, offering a combination of products and services, at reasonable rates, that works best for you. Chances are that you will be able to find what you want if you look hard enough. If you are looking for some options, though, we have a few suggestions.  Here are some of the best banks if you are looking for better perks:

PerkStreet Financial

If you are looking for a basic checking account that offers rewards, PerkStreet Financial isn’t a bad choice. It’s an online bank (and many of the best deals these days can be found at online banks) that is making splash because of its generous rewards program. You can get cash back on non-PIN debit card purchases. Plus, the checking is truly free, and you get access to 37,000 ATMs for free. Deposit money with direct deposit, online transfers and even paper checks.

USAA Federal Savings Bank

Now that USAA is open to everyone — and not just military members — I’m seriously considering it. This credit union has some of the most up-to-date consumer financial practices around. USAA was one of the first financial institutions to allow you to deposit money via cell phone image of a check, and offers consistently high customer service, as well rewards credit cards, and competitive rates on loans.


If you can overlook the fact that Ally used to be GMAC bank and had some issues not too long ago, you can take advantage of the high savings yields offered. One of best when it comes to savings accounts and CDs, you might find this a good place to park your money. Plus, Ally offers Popmoney, the peer to peer payment system that makes sending and receiving money a little easier.

Aurora Bank

A relatively new player in the world of banking, Aurora Bank is making its mark as a contender in the world of high yield interest rates. You can get competitive rates for your savings cash products, and you can even earn interest on a checking account with this bank.


Even though ING was recently bought by Capital One, the products and customer service still seem to be on par with what expected in the past. ING offers competitive financial products, including checking, savings, mortgage loans and investing options. If you are looking for a full-service bank, this might not be a bad choice. All rates and yields are competitive, and ING now offers the convenience of paper checks, and accepting mailed in checks for deposits.

American Express Bank FSB

If you are a business looking for a banking relationship, American Express Bank FSB might not be a bad choice. American Express Bank is known for its friendliness and accessibility when it comes to small business loans. This bank might make a solid contender when it comes to fulfilling your business needs — especially if you are a small business who is afraid of being turned down by other banks for loans.

What is your favorite bank? What bank do you use, and why?

(Photo: Butte-Silver Bow Public Library)

{ 9 comments, please add your thoughts now! }

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9 Responses to “Best Banks For Your Money”

  1. ptkdude says:

    ING has not recently been bought by Capital One. Rather, the sale is currently in process. The deal has not closed, so Capital One has not yet bought them.

    • Miranda says:

      Thanks for the clarification, ptkdude! Sometimes we see the headlines and race ahead. Great reminder for me to slow down. I’ll be looking for updates on that.

      @Jeff: USAA’s banking is open to everyone now, not just military. It’s a relatively recent development. However, some portions, such as credit cards and auto insurance, are still limited access. But if you want a checking account, USAA is available to you — even without military service.

  2. Chuck says:

    For me the best bank is my local credit union. The improved interest rate on checking and savings compared to a traditional bank more than makes up for the occasional foreign ATM fee.

  3. Jeff says:

    Just some clarification… I may be wrong, but I don’t believe USAA is open-access. You must be either military (active duty or retired), or you must have an immediate relative who has honorably served (mother or father). It is a FANTASTIC company, so I echo your sentiments that if you qualify for an account, you should definitely try it out.

    • shaam says:

      Actually anybody can become a member and open a Checking account at USAA. However, for Mobile deposit (deposit checks using a Mobile Phone) you need to have a USAA credit card. They do put a long hold on your checks.

  4. Ron Mexico says:

    I’ve had my savings in ING since ’04 and haven’t seen a need to ever move it to another bank. Their interface is probably the best out of all the other online banks IMO. The current sub-1% interest rate sucks, but no bank has a good rate now – or one that’s that much better – that would make me switch.

  5. shaam says:

    Actually anybody can become a member and open a Checking account at USAA. However, for Mobile deposit (deposit checks using a Mobile Phone) you need to have a USAA credit card. They do put a long hold on your checks.

    Another good option is Charles Schwab Checking.

  6. Roberts says:

    Perkstreet is not good at all. You earn zero interest, and if you lend them money then you can earn the same cashback bonuses you would get if you had the money earning 0.85% online savings bank and with any of your 1% or higher cashback credit cards from BankofAmerica, Chase, CapitalOne, AmericanExpress, Costco, Discover, Citibank, PNC, RegionsFinancial, SunTrust, Citizens Bank.

  7. Shevonne says:

    USAA is amazing. I also belong to Pentagon Federal Credit Union, and I love it.

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