APY and Online Banks
- First, look at the APY — the annual percentage yield. Online banks typically pay far more than traditional branches.
Fees
- Second, check the fees. The best accounts charge no monthly maintenance fees and have no minimum balance.
Access and Convenience
- Third, consider access: ATM networks, transfer speed, and a good mobile app matter for day-to-day use.
FDIC Insurance
- Finally, confirm the bank is FDIC-insured so your money is protected up to the legal limit.
