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Top 10 Bank Accounts (The BEST Bank Accounts)

Shane Hummus2020-06-11
Shane#Hummus#Shane Hummus#robinhood
12K views|4 years ago
💫 Short Summary

Different types of bank accounts offer varying interest rates, with online banks providing higher rates compared to traditional banks. PNC Bank, CIT Bank, and Discover Bank are ranked for their customer focus and financial products. Online banking options like Capital One 360 and Fidelity Cash Management Account offer top-notch services without physical branches. Alliant Credit Union and Ally Bank are praised for their competitive interest rates and user-friendly apps. Charles Schwab offers an exceptional banking experience with no ATM fees. The importance of having both physical and online bank accounts for emergencies is emphasized.

✨ Highlights
📊 Transcript
Variation in Interest Rates Across Bank Accounts
01:35
Online and newer banks offer higher interest rates of over 1%, while traditional banks offer only 0.01-0.02%.
Hidden Fees in Some Bank Accounts
Wealthfront initially offered a 2.57% interest rate on savings accounts but recently dropped to 0.35%.
Importance of Checking FDIC Insurance
Emphasis on checking FDIC insurance for bank accounts for financial security.
Top 3 Banks for Customer Focus and Financial Products.
02:54
PNC Bank is ranked number 9 for its customer focus, competitive interest rates, and lack of fees.
CIT Bank is number 8 with top interest rates and checking account options, but lacks a free ATM network.
Discover Bank, ranked number 7, is a well-known institution offering strong financial products like the Discover credit card.
Online banking options like Capital One 360 and Fidelity Cash Management Account offer top-notch services without physical branches.
05:36
Capital One 360 provides access to 38,000 ATMs and allows cash deposits via ATMs, eliminating the need for physical locations.
Fidelity, although not a traditional bank, ensures FDIC protection and collaborates with other banks for added security.
Fidelity's consistent presence on top lists reflects its strong emphasis on customer experience and satisfaction.
Fidelity is a reliable choice for those seeking high-quality financial services.
Benefits of Alliant Credit Union as an online credit union.
08:58
Alliant offers low costs and high accessibility for customers.
Customers have access to over 80,000 free ATMs across the United States.
Alliant provides a convenient and cost-effective banking experience.
Alliant Credit Union and Ally Bank are recognized for their competitive interest rates and user-friendly apps.
09:20
Alliant Credit Union is known for consistently offering some of the best interest rates on savings accounts.
Local credit unions are recommended for physical bank accounts due to exceptional customer service and lack of unnecessary fees.
Credit unions are praised for providing a personal touch, good savings rates, and no extraneous fees.
Charles Schwab highlighted for exceptional banking experience.
11:44
No ATM fees and reimbursement for fees charged by other ATMs.
Emphasis on customer focus and integrity for positive banking experience.
Benefits of online banking over physical branches due to lower fees and cost-saving advantages.
Recommendation to have both physical and online bank accounts, with online banking as primary for cost-effectiveness.
Discomfort with physical bank accounts.
14:05
Speaker praises those who can manage physical bank accounts.
Viewers encouraged to check out more content on the speaker's video.
Engagement encouraged through likes, subscriptions, and comments.
Viewers invited to share their experiences with different bank accounts.
Speaker expresses gratitude to the audience and signs off.