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Six top-rated banks of 2017

Currently, the country has some great banking institutions that have not only made traditional banking systems easier but have also embraced online transactional services so that the customers could manage their funds conveniently anytime and anywhere.

The following are some of the popular top-rated banks you can consider for handling your money. These include both traditional as well as online banking companies. All of these have some unique features that make them different from one another and an excellent choice for all kinds of investors.

Top-rated traditional banks

  • Chase Total Checking
    One of the largest banks in the country concerning assets, Chase Total Checking is a top-rated bank known for its amazing customer service. In the year 2014, it accounted for 13 percent of the nation’s banking assets. One of the most significant benefits of choosing Chase is that it offers a wide variety of financial service or product to its clients. From your everyday checking account to a financial advisor, everything is available. It has 5,100 branches and 16,000 ATMs in the country. Access to cash, therefore, is relatively easier. If a customer opens a checking account with them and sets up a direct deposit, they will be given a bonus of $200. However, it will do you well to remember that interest rates are not that great. At the same time, they are subject to change. Also, in the Southeast and Plains, Chase does not have branches. Another drawback is that among all the financial products offered, personal loans are something that they do not provide.
  • Wells Fargo
    Wells Fargo is currently one of the top-rated banks and has a massive chunk of assets which accounts for 10 percent of the total national market. It is one of the banks that can be easily accessed in the country thanks to its acquisition of Wachovia. It has the highest number of physical locations of any bank with 6,300 and several branches which are available in all regions of the country. Some of the offices are located inside a store such as grocery store to make it more convenient for customers. It has 12,000 ATMs and a range of financial products such as credit cards, personal loans and insurance policies. Wells Fargo offers innovative loans, like the one they used to have for doctors. Interest rates, on the other hand, are not competitive, just like Chase.
  • BB&T
    Considered to be a reliable choice in terms of financial stability, BB&T is better than the banking giants in this business. So, with BB&T, a subprime mortgage crisis might not leave you floundering. It also offers good customer service, accessibility and availability. Its customer satisfaction score in areas where it has more branches is noteworthy. As of now, it has around 1,900 branches in the country. However, they are available only in mid-Atlantic, Texas and Southeast.

Top-rated online banks

  • Ally
    Ally is an allrounder when it comes to online banking and is considered to be the best for low fees and interest rates. Its savings account gives you a whopping 1.15 percent APY. It does not charge maintenance fees nor does it require a minimum deposit. You can use any ATM you’d like to access. Their costs are explained well and easy to find, making them easy to pay and they charge way lower than their competition does. While Ally offers checking and savings account, it does not accommodate credit cards and most types of loans as well as additional financial products. The auto loan it provides can only be accessed through a dealer.
  • Discover Bank
    Discover Bank is regarded one of the best options for comprehensive online banking. It has a vast product lineup, and it also has been around longer than most of its online competitors. Discover Bank offers checking account, savings account, CDs, IRAs, home loans, personal loans, student loans, and credit cards. It has 60,000 ATMs around the country which do not charge a fee for cash withdrawal. It offers reasonable interest rates. While there is no minimum balance requirement for a savings account, to open a CD, you need a $2,500 deposit.
  • Bank5 Connect
    A great pick for checking accounts, as opposed to most of its competitors Bank5 Connect gives an APY of 0.76 percent which is quite good. To open an account, you just need $10 and to start earning interest, $100. However, it does not offer 24/7 customer service.

You can choose the ones that fit your preferences and needs. If you seem confused, check the consumer reviews online for these top-rated banks mentioned above.

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