Bank Near Me
For millions of Americans, finding the right bank can at times prove to be a struggle. With so many options, rates, and offers, who knows exactly what’s right? The first step is finding a list of banks and narrowing down your choice until you find the one that best suits your unique financial needs.
Are you interested in finding a bank near you? Simply browse bank near me on the map below and find a list of banks located in your area. Need a bit more information on banking? Read on for excellent facts, trivia, and history on banks!
Bank Near Me – Find it on the Map
Bank Near Me – Bank Trivia
When was the First Bank of the United States established?
The very first Bank of the United States was built out of necessity. After the Revolutionary War, the government was inundated with debt, and each state had a different form of currency. To handle the colossal war debt and create a standard form of currency for every state, Alexander Hamilton conceived the First Bank of United States in Philadelphia (which was the nation’s capital at the time). Up until the time of the bank’s charter, coins and bills were issued by state banks that served as a form of currency for the fledgling nation. The First Bank’s charter was drafted in 1791 by congress. It was then officially signed by George Washington. Despite the need for the bank, in 1811, Congress voted to abandon the bank and its charter. The bank was originally housed within the confines of Carpenter’s Hall from 1791 until 1795. The bank was built in the neo-classical design, which was intended to hearken back to the splendor and democracy of Ancient Greece. The first thing many notice is the eagle which crowns the two story portico on the Carpenter’s Hill building. At the time of the creation of the bank, the eagle had only been the national symbol of freedom for around 14 years. During the country’s bicentennial in 1976, the bank building was officially restored to its former glory. Consider these historical facts as you search bank near me.
When did the US create a national currency?
As you search bank near me, you’re obviously well aware that the US currently only has one form of currency. Historically speaking, this was not always the case. Not only did this make for quite a bit of counterfeiting amongst the states, but it created a very confusing national system of currency. In 1865, the US government voted to create one national form of currency. National bank notes were produced and distributed through a rather involved process that involved basic engraving and printing (at first by private companies, and later by the US Bureau of Engraving and Printing). After the notes were printed and engraved, they were entered into the books at the Office of the Comptroller of the currency. They were then returned to the printer where the official seal of the Treasury Department was stamped onto each note. The notes were then shipped to the bank whose name appeared on them, where they would be signed by senior bank officers. Now ready for circulation, the bank notes were the mainstay of the nation’s money supply until Federal Reserve notes officially appeared in 1914.
Bank Near Me – Bank Facts
Dealing With Higher Interest Rates
As you search bank near me, you may be tempted to create an account with an online only bank, rather than one that offers both an online and brick and mortar platform. Not only is this a highly convenient form of banking, but they also typically yield higher interest rates. Since these online only banks save money by not offering storefront branches, they can afford to offer higher rates than the national average of .06 percent. You’ll almost always find leading online banks amongst those with the highest yielding savings accounts due to interest. This can be highly tempting, but before committing to any one bank, you also want to weigh other features involved. Customer service, fees, FDIC insurance, and account balance rules should all be taken into consideration prior to choosing a banking institution. Never let one benefit outweigh many cons.
Avoiding Huge Fees
One common myth that many individuals searching bank near me seem to perpetuate is the idea that overdraft protection can help you to avoid large fees. This is false. When you open up any new checking account, most banks offer the option of opting in for overdraft protection. It’s a good idea, but it comes at a steep price. Say for example you only have $40 in your account and are trying to buy $50 worth of groceries with your debit card. If you have overdraft protection in place, the bank will cover the $10 difference on your behalf. They will either transfer money from another one of your accounts or open a line of credit in your name. This sounds well and good, but they will charge you a fee, often of about $35-$40. If you don’t have overdraft protection, the transaction will simply be declined and you won’t owe any fees. Sure, this can prove a bit embarrassing while at the checkout, but it could save you money. If you have multiple accounts or a credit card, overdraft protection is a raw deal, as you can simply use a different card if you were to accidentally overdraw your account. It is a nice feature if you have a true emergency on your hands and have no other way to pay for an item you desperately need. Just remember, you’ll end up paying for it in the long run.