What Bank is Right for You? Essay Assignment DUE Tuesday, April 21st

What Bank is Right for You? --We will be conducting research in class starting Monday, April 6-Wednesday, April 8th...

Over the next two days in class, you will be using the Internet to research 3 banks and try to determine which one is best for you. After two days of research, you will write a short paper explaining why one of the three is the best for your needs currently.

1. To start with, it is important to find which banks are close to you. Please open Google Earth and type in your home address in the blank box in the upper left corner. If you are moving out of the city for college next year, please research banks near your school.
2. Go to the “Layers” section on the left side of the screen and check the box next to “Banks/ATMs”. What this does is identify all the banks and their locations on the map.
3. Make a list of three banks close to you that you might be interested in opening an account in and indicate how far they are from you home.
4. Once you have done this, please close Google Earth, and then open the Internet. Go to google.com and type in the name of one of the three banks. Go to the banks homepage.
5. Once on the bank’s homepage, please answer the questions in the box on this page.
6. Once you have answered the questions for one bank, please do the same exercise for two other banks. After you have completed all three banks, make a choice as to which one is best for you and write a 3-4 page paper explaining why.


What to look for when choosing a Bank

a) Name/location of the bank
b) Is this bank close to my home or my work?
c) Does this bank operate during hours that are convenient for me, and/or is the bank’s ATM network convient?
d) Do any of the employees speak my language?
e) Does this account offer the services that I need and want?
f) Does this account pay interest? At what rate?
g) What fees are associated with this account?
h) What does the bank charge for overdraft protection?
i) What type of identification will I need to open this account?
j) What is the monthly service charge?
k) Do I have to maintain a certain balance to avoid paying fees? Can I afford to maintain that balance?
l) Is this account protected by FDIC insurance?


**THE 3-4 PAGE PAPER IS DUE ON
TUESDAY, APRIL 21st!!!!!!**