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- Making money from your money is a key step on the road to building wealth. Though most checking accounts offer paltry rates, there are some good deals to be found. With diligence, persistence, and prudence, you can find excellent checking rates. How to Find the Best Checking Rates will set you on your way.
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Making money from your own money is a key step on the road to building wealth. Though most checking accounts offer paltry rates, there are some good deals to be found. With diligence, persistence, and prudence, it is possible to find excellent checking rates. How to Find the Best Checking Rates will set you on your way.
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Introduction
- Everyone wants to get the best banking deals, especially in today's economy. Finding the best checking rates is a matter of research, research, and more research. In addition, if you intend to pounce on limited-time rate deals, you may need quick reflexes!
Step 1: Do the Research
- Search for deals on the internet: Believe it or not, there are sites that inform about finding the best bank rates. Bankrate.com, Money-rates.com, and bankbestrates.com are a few.
- Let someone else do the research for you. That's right, such blogs as bankdeals.blogspot.com publish lists of what the blogger feels are the best bank deals going.
- Peruse periodicals. Such publications as Money magazine and Consumer Reports Money Advisor offer current information and routinely publish stories about getting the best bank deals.
Step 2: Delve Into the Details
- As simple as it may seem to open an account at a new bank, "buyer beware" is the perennial caveat. Read the fine print and check all the details of any checking account "deal." Ask intelligent questions, and look before you leap.
- Is it a limited-term offer?
- Does it require that you maintain a minimum balance?
- Is it only valid if you also open a savings account with the same institution?
- Check out the bank's credit rating. Especially in the current climate, a bank may be offering an incredible deal simply to attract gullible depositors. Be sure to check the Internet, the business section of your newspaper, and financial periodicals to get the scoop on any bank.
Step 3: Check Up on Customer Service
- Investigate the bank's reputation regarding customer service. Larger does not necessarily mean better. Look for relevant information on the Web and in business and consumer finance newspapers and periodicals.
- Ask friends, relatives, even co-workers about their experiences with a prospective new bank. Bad news travels fast. If someone you know has had a negative experience with a financial institution, you can be pretty sure they will not hold back about it. Folks don't appreciate bad service—especially when it comes to their money!
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