Banking
My Three Possibilities and Comparisons.
1. Ally Bank
Summary - Choice: Great Western Bank
While it may not seem like the best choice to some, I decided to choose Great Western bank, due to the fact that it has two locations near me, while the others don't. This may seem small, but driving 10 miles just to get to the bank will end up costing a lot of time and money in gas, and this overrules the charges in my opinion, and that's why I chose this. Lets say it takes you 1 gallon of gas to drive there (in a city), and 1 to drive back. That is 2 gallons of gas per trip. If you drive there once a week, 52 times a year, that is now 104 gallons. The average cost of a gallon is $2.30. that means that it would cost you $239 over 1 year in driving, as well as 1,040 miles, and a lot of time. The annual fee is $15.
Sources:
https://www.findabetterbank.com/findAjax.html?session=_c888A0A20-407D-6E20-2E5D-6C8C0681823F_k52DEF3B5-AEEB-5D3E-AFED-8FD91C174A44#step-5
1. Ally Bank
- Annual Fees: $0
- Locations In 10 miles: 0
- Minimum Opening Deposit: $0
- Interest Rate: Up to .6%
- Online: Yes
- ATM Surcharge Fee: $0
- Annual Fees: $0
- Locations in 10 miles: 0
- Minimum Opening Deposit: $0
- Interest Rate: .06%
- Online: Yes
- ATM Surcharge Fee: $0
- Annual Fees: $15
- Locations in 10 miles: 2
- Minimum Opening Deposit: $50
- Interest Rate: .01%
- Online: Yes
- ATM Surcharge Fee: $2.50 Per use
Summary - Choice: Great Western Bank
While it may not seem like the best choice to some, I decided to choose Great Western bank, due to the fact that it has two locations near me, while the others don't. This may seem small, but driving 10 miles just to get to the bank will end up costing a lot of time and money in gas, and this overrules the charges in my opinion, and that's why I chose this. Lets say it takes you 1 gallon of gas to drive there (in a city), and 1 to drive back. That is 2 gallons of gas per trip. If you drive there once a week, 52 times a year, that is now 104 gallons. The average cost of a gallon is $2.30. that means that it would cost you $239 over 1 year in driving, as well as 1,040 miles, and a lot of time. The annual fee is $15.
Sources:
https://www.findabetterbank.com/findAjax.html?session=_c888A0A20-407D-6E20-2E5D-6C8C0681823F_k52DEF3B5-AEEB-5D3E-AFED-8FD91C174A44#step-5