What to look out for: You might have to deal with overdraft fees if you accidentally overdraw from your checking account. Meanwhile, the FirstBank Personal Savings Account has a $5 quarterly service fee that's easy to waive - you won't pay a service fee if you keep at least $100 in your account daily. You'll also have access to over 200 ATMs in Arizona, California, and Colorado. The FirstBank Anywhere Checking Account is a free checking account with a $0 opening deposit. It's the fourth-largest bank in the state, and it has low fee bank accounts. Why it stands out: If you prefer traditional banking to online banking, FirstBank could be a solid option. Best Bank for Opening a Checking and Savings Account If you don't have overdraft protection set up, you'll also need to be mindful of a $33 overdraft fee. What to look out for: KeyBank charges a $3 fee for using an out-of-network ATM. You may also link your checking account to a savings account and make free transfers to restore a negative account balance. For example, you can set up alerts to avoid overdrawing your account. The KeyBank Smart Checking Account stands out because it includes several ways to waive overdraft fees. Why it stands out: KeyBank has a strong, straightforward checking account - it has a low minimum deposit and charges zero monthly services. You'd have to deposit it into an account with a different bank, then transfer funds. What to look out for: As an online-only institution, you can't deposit cash directly into this account. The account lets you separate money into individual savings goals through savings buckets. You also might find Ally appealing if you'd like a bank account with budgeting tools. It also doesn't charge typical bank fees like monthly service fees and overdraft fees. The Ally Savings Account might be a great choice if you are looking for a competitive interest rate. Why it stands out: The biggest brick-and-mortar banks in Colorado pay low interest rates on savings accounts, so we've explored online banking options with high-yield savings accounts. On NuVista Federal Credit Union's website See our full ratings methodology for checking, business checking, savings, and money market accounts » Best Banks in Colorado: Frequently Asked Questions For our best credit union and best local bank, we selected financial institutions with easy membership requirements, low minimum opening deposits, and unique bank accounts. Some offered a competitive interest rate or had budgeting tools in addition to minimal bank fees. Our top picks stood out from competitors for a variety of reasons. We compared bank account features and fees until we narrowed down our top picks. We spent hours comparing and contrasting the features and fine print of various products so you don't have to.įirst, we reviewed the 15 biggest banks and credit unions in the state.Then we looked at CDFIs in the state. We understand that "best" is often subjective, so under each section, we outline the advantages and limitations of each account or institution. Personal Finance Insider's mission is to help smart people make the best decisions with their money. Methodology: How Did We Choose the Best Banks in Colorado? You're comfortably with the availability of customer service You can picture this institution fulfilling your banking needs in the futureħ. You know which provider issues your debit card (MasterCard and Amex aren't always accepted)Ħ. Your savings account earns more interest than averageĥ. The institution has FDIC or NCUA insuranceĤ. You feel confident in the bank's securityģ. You're clear on any fees, and comfortable with themĢ. Here are seven signs the bank you're considering is the right one for you:ġ. We're focusing on what will make a bank most useful, including customer service, fees, rates, and more. Mykail James, MBA, certified financial education instructor,.
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