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best bank in detroit

Most people comfortably use debit cards nowadays, but the benefits they offer are not always clear. Here’s a breakdown of how debit cards work and the rewards programs frequently offered with them. Read more.

With ATM rebates, the charge from a non-bank ATM is rebated to your account. This rebate applies to ATMs anywhere in the US or anywhere outside the bank’s home state, depending on the bank. While there is often a limit to the amount a customer may receive in monthly rebates (usually $6/month), this service provides another great incentive to work with a bank that may not be so close in proximity, but offers great accounts. Unlimited ATM rebates are common for banks that have no branches (i.e. Internet Bank Accounts) or for smaller banks that want to remain competitive on a national scale.
Most banks offer interest bearing checking accounts. These accounts will be most valuable if you have a consistently high balance and want to spend the money in this account a number of times each month.

Tips About Checking Accounts and Reloadable Debit Cards

How Much Interest-Bearing Checking Accounts Earn
How ATM Fee Rebates Work
Compare checking accounts and reloadable debit cards from Detroit, banks and credit unions for free
Most checking accounts have interest rates near or below 0.5%. The exceptions are internet and rewards checking accounts which may have a interest rate up to 4%. But be careful; just because your account earns interest doesn’t mean you will earn a lot of it. For example, an account with a 3.5% APY and a $5,000 balance will earn $175 dollars in a year — not bad considering the low or no risk involved in this ‘investment.’ But an account with a $5,000 balance and only a 0.5% APY will only return $25 annually.

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FindABetterBank.com | Compare checking accounts from local banks and credit unions in Detroit, MI and online banks serving Michigan residents.