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About Financial Institutions

Banks not only keep the country operating effectively but also make it possible for consumers to efficiently manage their daily financial tasks.

With so much financial business being handled online, today’s banks provide access to resources that were unavailable just a few years ago, like mobile check deposits. It’s easy now to access banks at their brick-and-mortar locations, online or on your phone.

Banks come in many forms, including local, regional, and national banks. They offer different accounts including savings accounts, checking accounts and certificates of deposit (CDs). Other products and services include loans — personal and auto — credit cards, mortgages, and financial planning resources. Whether you want to cash your paycheck or buy a home, a bank can help.

FAQ

Here are the answers to some of the most frequently asked questions on Banks.

Online banks, like traditional banks or credit unions, are safe if they are FDIC-insured. This means your account is generally covered up to $250,000. However, you can also take personal steps to help protect your banking information such as setting strong passwords and avoiding public WiFi.
Most bankers or financial experts recommend you keep your bank statements for at least one year. These physical copies are great but you should also be able to access this information online through your bank's website or mobile app.
The average price of bank ATM fees is currently around $4.73 per transaction. This was calculated by adding the average surcharge of $3.15 by ATM owners to the average $1.58 you’re charged by your bank for using an out-of-network ATM. Fees will vary depending on your bank and account allowances.

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