Site helps you find a better bank
If you're fed up with high fees and poor service, you might rather switch than fight.
A new Web site seeks to make the process easier. It won’t get you a divorce lawyer, but it promises to help you find a better bank.
FindABetterBank.com is designed to help you compare checking accounts. You put in your ZIP code, answer some questions about what features are important to you (free checking, interest, debit card rewards, etc.), and the site provides a list of bank accounts in your area that meet your criteria. It estimates your annual fees for those accounts.
The site includes data on the 85 largest banks, Internet banks and a number of community banks and credit unions, amassing a database of about half the banks in the United States. It is a free service, and it makes its money by selling services to banks, not by referring customers to a particular bank. That means its suggestions aren’t motivated by profit.
“Let's face it, if your bank makes it hard for you to speak with a customer service representative (CSR), it's because they don't really want to speak with you,” FindABetterBank founder Robert Rubin wrote at The Huffington Post. “The difference between some banks and bad plumbers is that instead of taking our business elsewhere, we lower our expectations and stay put. That's pretty dysfunctional.”
The service is one of several resources listed at Move Your Money, a site started by Arianna Huffington and others to encourage people to switch to community banks as a response to what they believed was arrogance and lack of customer service at the large banks.
FindABetterBank doesn’t yet have as many community banks and credit unions listed as do the Independent Community Bankers of America and the National Credit Union Administration, but it provides a more sophisticated way to compare services.
- Pick a bank or thrift with deposit insurance from the FDIC. Credit unions have their own version of deposit insurance.
- Consider your needs. For example, if you need just basic checking, ATM access and a debit card, look for accounts that don’t charge you if you go below a minimum balance.
Have you moved your money to a smaller bank or credit union, or just another bank? Are you considering such a switch?
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
ABOUT SMART SPENDING
LATEST BLOG POSTS
A Fidelity study found that adult kids and their folks aren't on the same page when it comes to discussing finances.
VIDEO ON MSN MONEY
BLOGS WE LIKE
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'