Retirement & Financial Planning Report

In some situations, big banks offer good deals. You’re more likely to find free checking at a big bank than at a smaller bank or a credit union. Larger banks may offer free online banking and bill payment as well.

Smaller banks often don’t have many automatic teller machines and won’t reimburse the fees customers incur for using competitors’ ATMs. You might be able to slash your ATM fees because big banks have many more ATMs than local banks.

What’s more, major banks with many ATMs may offer multistate facilities. Even if you prefer the personal service of a local institution, you might want to split your funds between a local credit union, say, and a big bank that can offer you added convenience when you travel.