Good questions when:

Choosing a Bank

• Are you FDIC insured?

• The FDIC (Federal Deposit Insurance Corporation) is an agency of the United States government that insures your money and protects you against loss if your bank were to fail. Under their standard guidelines the protection is available up to $100,000 per depositor, per bank.

• How many locations do you have?

• Where are their branches and are they convenient to work and home? Bigger banks offer longer hours of operation and many locations but bigger isn't necessarily better. What matters is that you choose a bank that fits with your lifestyle and schedule. If you choose a smaller, local bank, be sure that they have enough ATM and branch locations to serve you. Also make sure that they are open so that you can do your banking after work or on the weekends on occasion if necessary.

• Do you offer online banking?
• Do you charge a fee for ATM transactions?

• Some banks charge no fees if you use their ATMs but hit you with fees if you use foreign ATMs. Make sure you know what the rules are because these fees can really add up over the course of a month. If they charge for ATM withdrawals, be extra sure that there are enough locations in your area so that you won't have to incur foreign ATM fees. \012

• What kind of loans do you offer?

• Some banks give existing customers better loan terms, interest rates, etc. Also, banks will sometimes offer reduced interest rates if you agree to automatic payment withdrawal.

• Do you offer savings accounts and certificates of deposit?
• If I have a question, how do I get in touch with a real, live person?