Friday, October 5, 2012 - 7:39 AM
Read Money's "Best Banks 2012" on Yahoo Finance this morning. Five recommended "best banks." Apparently lack of, or ease of avoiding, fees for checking accounts is the main criterion of the recommendations. Only one of the five, Huntington Bank (a regional bank with 680 branches in IN, KY, MI, OH, PA, WV), has deposit rates anywhere near competitive (0.65% for its Premier Plus Money Market, which requires $20K in combined deposits to qualify). What had me nearly "falling off my seat" with disbelief, and laughter, was the 5th of the "best banks" -- M & T Bank!!! Why is it a "winner," according to the article? Because it offers free basic checking, and "tiered checking options offer something for everyone." Apparently crappy interest rates and a tendency to buy other, good banks and then "kill" everything good about them aren't among the author's criteria! Recommending M & T Bank, of all banks, is this anonymous author delusional?
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Feb 26, 2010
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