How to Choose a Great Bank Account

If you’re trying to choose a new bank account, there are many elements that you might want to look at. For example, if you are looking for a business banking account then you might want to look at the flexibility and the security of the bank account overall. Sure, it might make sense just to sign up for whatever bank account looks best, especially if you don’t otherwise have a bank account, but choosing carefully can make it easier for you to use your account effectively. Here are four things you might want to look at when you’re trying to choose a bank account.

1. Sign-On Bonus

One of the biggest things to look for is any sign-on bonuses that the account is currently offering. Sign-on bonuses for bank accounts are less common than sign-on bonuses for credit cards, but they can still be a great way to save a bit of extra money. Plus, their requirement may just be to use your account normally. The Chase Secure Banking bonus, for example, only requires that you make at least 10 qualifying transactions within the first 60 days.

2. Monthly Fee

Bank accounts may have different monthly maintenance fees. Many people gravitate toward accounts with a $0 maintenance fee, which can definitely be helpful for individuals who don’t want to spend extra on their bank account. However, an account with a monthly maintenance fee can be helpful if you’re looking for extra features that may otherwise come with extra costs. These monthly fees can essentially offset the fees of extra features, allowing you to get these benefits as a bundle along with your general bank account access.

3. Fees on Transactions

Next, take a look at how many fees you’ll have to generally pay on your transactions overall. If you note that you’re going to end up paying when you send money to people, when you accidentally overdraft, or when you use ATMs, those fees can quickly end up stacking up. Make sure that you know exactly what fees come with your account, so you know what to expect.

4. General Features

Next, think about the general features that you’ll enjoy with a specific bank account. Bank accounts offer a variety of features, and depending on the account you want to apply for, you may be able to get different elements with your account. Benefits like the ability to send and receive money to peers, access to a mobile app, and fee-free money orders and cashier checks are all options that you might want to look for.


Choosing a good bank account is an important part of using your money wisely. In general, there are many different elements to look for when you’re looking into a bank account, ranging from whether the account offers a sign-on bonus to what fees you might end up having to pay with that specific bank account. These four elements are four of the most important when it comes to finding a great bank account. Make sure you look for these things when you’re searching for a new account so that you can get the best account for your unique needs.