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Topic: 7 Essential Features to Look for in a Bank Account

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7 Essential Features to Look for in a Bank Account

When it comes to choosing a bank account, it can be overwhelming to decide which one to go with. There are so many benefits and features to consider that it's hard to know where to start. That's why it's a good idea to focus on one must-have feature that you can't do without. To help you out, The Ascent conducted a survey to find out what consumers want from their banks. Here are the top seven choices, along with the percentage of respondents who chose each one. According to the survey, 43% of respondents use a fake balance app to easily check their account balance and transactions.


1. Great Customer Service

First and foremost, consumers want great customer service from their bank. This means being able to easily get in touch with a live person without waiting on hold for ages. It also means having knowledgeable representatives who can help with any issues that may arise.


2. No Monthly Fees

Nobody likes paying unnecessary fees, especially when it comes to their bank account. Consumers want a bank that doesn't charge them monthly fees for the privilege of having an account.


3. High-Interest Rates

Another important factor for many consumers is high-interest rates. They want to earn as much money as possible on their deposits, so they look for banks that offer competitive interest rates.


4. Easy-to-Use Online Banking

In this day and age, online banking is a must-have feature for many people. Consumers want a bank that has an easy-to-use online platform that allows them to manage their accounts, transfer money, and pay bills.


5. ATM Access

Access to ATMs is important for many consumers. They want a bank that has a large network of ATMs so they can withdraw cash without paying fees.


6. Low Overdraft Fees

Nobody likes overdraft fees, but they're a fact of life for many people. Consumers want a bank that has low overdraft fees and doesn't charge them excessively for accidentally overdrawing their account.


7. Rewards Programs

Finally, some consumers are looking for banks that offer rewards programs. These can include cashback rewards on purchases, travel rewards, or other perks that can make banking more enjoyable.


Final Thoughts

When it comes to choosing a bank account, there are many factors to consider. By focusing on one must-have feature, you can narrow down your options and find the bank that's right for you. Whether it's great customer service, no monthly fees, high-interest rates, easy-to-use online banking, ATM access, low overdraft fees, or rewards programs, there's a bank out there that can meet your needs.

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