Is it better to use a local bank or one of those you can find online?
Answer:
Depends on what you are looking for - bank account ( use a local bank ) - loan ( either ) - mortgage ( local ) credit card - (online) also check with local credit unions usually they have better terms and rates than traditional banks for loans, credit cards, and mortgages.
Both? I use a local bank, which is nice because I can always find an ATM, and also an online bank because of better interest rates. (day to day money is in the local bank, real savings are online). But as a side note, I think you need a local bank to use the online banks. For example, ING links up to your local bank account to receive the money, and you can transfer money back and forth as necessary.
Just depends on the interest rate you can get. Sometimes local banks can be just as competitive as internet loans. You need to verify loan closing fees with both. I find a lot of time the local banks don't have nearly the closing costs as Internet loans. Also, internet loans can sometimes be very time consuming going through the approval process and getting the loan closed. They can also make you jump through a lot of hoops with paper work they require. Shop around.
The answers post by the user, for information only, BAnswer.com does not guarantee the right.
Other Questions and Answers: