You should determine what types of account features interest you and your willingness to pay for them. You should consider account rates, the volume of account activity, the average daily balance maintained, your usage of ATMs and associated fees, and other account fees in determining which account makes the most sense for you.
There are a variety of Internet sites that contain comparative rate information for financial institutions. Internet rate shopping is a good starting point, but you should also make telephone contact with financial institutions in your community.
Can a bank refuse to open an account? Banks are permitted to investigate your previous financial history and may decline your account, if they so choose, based on that information. It is important as a consumer that you protect your credit history and also make certain that you do not have NSF items or overdrafts in your checking account, unless this activity is a preauthorized borrowing transaction such as a contractual overdraft line-of-credit.
If you have a history of poor account management and are having difficulty establishing a depository relationship, you might wish to approach a smaller community bank, which may be more willing to work with you. If you are eligible to join a credit union through a particular field of membership, you might wish to contact them regarding your options. It is better to be upfront with the financial institution rather than have them find out about poor credit history when they run a credit report.
See also Federal Deposit Insurance Corporation (FDIC) for information about bank deposit insurance. Visit https://edie.fdic.gov/ where you can use EDIE the Estimator, an online tool that provides customized information about your insured accounts
See also National Credit Union Administration (NCUA) for information about credit union deposit insurance.
See also Certificates of Deposit (CDs)