Questions to Ask a Bank
Essential questions to evaluate fees, services, account features, and whether a bank or credit union is the right financial partner for your needs.
1What are the monthly maintenance fees for checking and savings accounts, and how can they be waived?
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What are the monthly maintenance fees for checking and savings accounts, and how can they be waived?
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Why this works
Clarifies true costs and whether you can avoid fees with direct deposit or minimum balances.
2What is the interest rate on savings accounts, and how does it compare to high-yield options?
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What is the interest rate on savings accounts, and how does it compare to high-yield options?
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Why this works
Helps you assess whether your money will grow or stagnate in their accounts.
3What are the ATM fees, and how extensive is your fee-free ATM network?
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What are the ATM fees, and how extensive is your fee-free ATM network?
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Why this works
Reveals accessibility and whether you'll pay for basic cash withdrawals.
4What overdraft policies and fees do you have, and can I opt out of overdraft coverage?
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What overdraft policies and fees do you have, and can I opt out of overdraft coverage?
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Why this works
Protects you from surprise fees and clarifies your control over overdraft settings.
5What digital banking features are available—mobile app, bill pay, mobile deposit?
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What digital banking features are available—mobile app, bill pay, mobile deposit?
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Why this works
Assesses whether the bank has modern tools or relies on outdated systems.
6How quickly can I access funds from deposited checks?
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How quickly can I access funds from deposited checks?
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Why this works
Clarifies hold policies and whether you'll have immediate access or wait days.
7What security features do you offer—fraud monitoring, two-factor authentication, account alerts?
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What security features do you offer—fraud monitoring, two-factor authentication, account alerts?
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Why this works
Shows how seriously the bank takes security and whether your money is protected.
8What customer service options are available—phone, chat, in-person, 24/7 support?
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What customer service options are available—phone, chat, in-person, 24/7 support?
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Why this works
Reveals accessibility and whether you can get help when you need it.
9What are the requirements and fees for opening and closing accounts?
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What are the requirements and fees for opening and closing accounts?
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Why this works
Ensures there are no hidden costs to start or exit the relationship.
10Do you offer joint accounts, and what are the rules for access and ownership?
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Do you offer joint accounts, and what are the rules for access and ownership?
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Why this works
Clarifies how shared accounts work and whether both parties have equal control.
11What loan and mortgage products do you offer, and what are typical interest rates?
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What loan and mortgage products do you offer, and what are typical interest rates?
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Why this works
Helps you assess whether the bank can meet future borrowing needs.
12Are there any account minimums or balance requirements to avoid fees?
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Are there any account minimums or balance requirements to avoid fees?
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Why this works
Shows whether the bank is accessible for all income levels or favors high balances.
13How does the bank handle disputes, fraud claims, and unauthorized transactions?
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How does the bank handle disputes, fraud claims, and unauthorized transactions?
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Why this works
Reveals customer protection policies and how quickly issues are resolved.
14What investment or retirement account services do you provide?
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What investment or retirement account services do you provide?
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Why this works
Assesses whether the bank can support long-term financial planning.
15Do you offer financial literacy resources, budgeting tools, or financial advising?
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Do you offer financial literacy resources, budgeting tools, or financial advising?
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Why this works
Shows whether the bank invests in customer education and success.
16What are the foreign transaction fees for debit and credit cards?
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What are the foreign transaction fees for debit and credit cards?
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Why this works
Important if you travel internationally and want to avoid costly fees.
17How does the bank support small businesses or business banking needs?
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How does the bank support small businesses or business banking needs?
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Why this works
Clarifies whether the bank can grow with you if you start or run a business.
18What is the bank's FDIC insurance coverage, and how are accounts protected?
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What is the bank's FDIC insurance coverage, and how are accounts protected?
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Why this works
Confirms your money is insured and safe in case the bank fails.
19Can I integrate my accounts with budgeting apps like Mint, YNAB, or Quicken?
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Can I integrate my accounts with budgeting apps like Mint, YNAB, or Quicken?
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Why this works
Shows whether the bank supports modern financial management tools.
20What are your policies on account closures, and is there a process to transfer funds easily?
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What are your policies on account closures, and is there a process to transfer funds easily?
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Why this works
Ensures you can leave without hassle if the relationship doesn't work out.
Choosing the Right Bank
Expert tips and techniques for getting the most out of these questions.