There are many things to consider when choosing a bank. In fact, the process can seem overwhelming at first. When choosing a bank, it is important to take the time to consider each of these points and then choose the bank that best suits your needs.

1. How secure is the bank? In other words, if the bank goes out of business or bankrupt, will you get your money back? In order to protect your money, you should choose a bank that is insured by the FDIC. If something should happen to the bank, your account is covered up to $250,000.

2. Where are the bank branches located? A small bank may only offer one or two locations. A larger bank may have locations all over the community and even around the country. If you do a lot of traveling, you may want to deal with a larger bank with many branch offices.

3. What hours is the bank open? Some banks close early in the afternoon while other banks have longer hours. Some banks have extended hours on certain days of the week and still others offer Saturday and Sunday banking options. If you need to drive long distances to work each day, you may want to consider choosing a bank which offers longer hours, or a bank that has branches near your house as well as near your office.

4. What are the services offered by the bank? You should ask about the services offered by the bank before opening up an account. Check to see if the bank offers overdraft protection and ATM services. If your pay check is directly deposited into your account, this is especially important as you will be using an ATM quite often. You may also want to see if the bank offers online banking or automatic bill pay services.

5. What are the fees? Before you choose a bank, you will want to check on their fees. For example, how much money will it cost to open an account? Will you be charged a fee if you conduct business with a bank teller? Will you be charged to set up an internet banking account? While you are checking on fees, ask what the fees are for using an ATM, for bouncing a personal check, and for putting a stop payment on a check. Although you may never need some of these services regularly, it is best to know in advance.

6. What kind of bank do you want to do business with? As a last consideration, you may want to consider the type of bank that you will be doing business with. A small, hometown bank may offer great customer service but the bank may not have any branches outside the local area. On the other hand, a larger bank may be very indifferent to its customers but it may offer many services and great banking hours. Choose which option is best for you and for your family given your lifestyle.

After you have carefully considered and researched different banks using this check list, you should be able to make a good decision. Good luck!