Post by Barry Myers
The banking industry has gotten a bad reputation, and it is mostly for good reason. If you choose the wrong bank, you’ll pay ridiculous fees and get very little in return. But that’s not how it ought to be. While I’ll stand up and bash a misbehaving bank right along with you, I want to spend a few minutes sharing five ways you can get the best out of your bank – or how you can evaluate your banking options with other companies if you aren’t so in love with the bank you’ve got now.
- How safe is my money? Banks are probably THE SAFEST place to put your money. You may not earn a lot of interest, but your money is pretty darn safe. In the U.S., the government guarantees up to $250,000 through the FDIC (banks) and NCUA (credit unions). So while you might be tempted to keep it under your mattress, your cash is a heck of a lot safer in your local bank. [Read more…]