Author: Harlan and Miranda

Tired of all the fees, just like I am? I hate opening my statement and seeing some new fee I wasn’t expecting, and when it happens a lot, I don’t even want to open those statements at all. And that just leads to disaster. Getting a savings account without fees is one of the best goals to have, and is one of our 5 most important things to look for in a bank account.

You deserve a bank that WANTS you to be a customer. The banks need your money so they can operate, so why do they treat customers like they don’t want them? Your money, whatever you may have, is a PRIVILEGE to the bank! They should PAY YOU!

And with savings accounts, the banks DO pay you — in the form of interest. And interest is the most important factor for building your financial future. If you want to retire, if you want FREEDOM, it all starts with interest.

Some banks are really stingy. Major national banks pay out the lowest interest rates, and there’s no sign of that getting any better. The recession was YEARS ago but even the best banks are still paying about 1% interest. With 1% interest, it’ll take some time to build your future, but it’s better than nothing.

Here are the top savings accounts we recommend.

5 Things to Look for in a Savings Account

1. The Best Interest Rates. The key to making the most of your savings account is to find an account with one of the best interest rates. Compounding interest is one of the strongest and most important forces in the world of money. Putting money into your interest-earning savings account today, and putting more money in every week, month, or even year, is going to have a profound effect on your balance. Look for the bank with the highest interest rate that also meets the other criteria.

2. No Fees. What’s the point of earning interest if you just have to pay it back to the bank in the form of fees? Monthly service fees, debit card access fees, and ATM fees are together a terrible nuisance and will drag you down. Thankfully, they’re very easy to avoid! When you walk into your local bank and ask to sign up for a savings account, chances are good they’re going to offer you one with fees. Don’t go that route. Look at the vetted and reviewed accounts below to avoid unnecessary fees.

3. Excellent Customer Service. Look at the bank’s Twitter feed. This is a good indication of how they deal with customers. When someone complains, how do they reply? Look at reviews where real people explain what it’s like to be a customer. Again, we’ve done the research for you and only recommend the companies with the best customer service track records. With most savings accounts, you’ll hardly deal with any humans — everything is done online. But when you do, you want to make sure you’re headed for a positive experience.

4. Online Access. It’s no longer just enough to have a website. Yes, today’s banks should have a great website where you can go to transfer money, check your balances, and see how much interest you’re earning. The bottom line is that the website must be easy to navigate and you should be able to take care of all the business you need to do with a savings account. Some banks have apps for their accounts, but even if they don’t, they should be able to work with other money management apps like Mint.

5. Company Stability. While your money is protected by insurance by the federal government if your bank were to go out of business, you want to be confident that the bank is stable. Some of the biggest and most well-known banks use their huge brand recognition to justify not needing to offer the best interest rates and terms. But if a bank is offering a great interest rate, make sure it’s a company you can trust. Again, we trust all the banks whose savings accounts we recommend to be stable for the long term.

We’ve used these criteria to evaluate dozens of the top savings accounts, and we along with the money experts at GoBankingRates like these. They are offering interest rates HIGHER than 1% today. Deposit today and you could earn $250,000 (OR MORE!) over the course of your life than if you leave your money in a low-paying account from a bank that doesn’t want you.