Bank Rhode Island

Reasonably good small bank

BankRI emphasizes for anyone who maintains a low balance in their checking account the need to open an overdraft, which is no-fee and just incredibly helpful for preventing the accrual of lots of fees if you bounce a check. The savings product I was enrolled in only allowed a couple of transfers a month, which seems strange since it was not tied to an investment or a high-yield account; now it has been converted into a second checking account. I would have preferred a simple traditional savings account with unlimited withdrawals and some sort of ability to accrue interest. The account fees run $6.99 a month each, with seems quite high. I try to avoid the Atwood Avenue branch because it had an issue with mold/mildew and set off my asthma.