Question

Below are your options for a bank. Look at the banks details and decide which bank you would choose. Be sure to explain your answer.

Keys Bank
Insured: yes
Services: checking, savings, loans, CDs
Locations: downtown, near the office
Hours: 8 a.m. - 4 p.m.
ATMs: many convenient locations
Membership: none
Fees: $25 fee for going below minimum balance, $30 fee for bouncing a check, $10 fee for overdraft, ATM fees
Interest rates: .15 percent

New England Bank
Insured: yes
Services: checking, savings, online banking, loans, CDs
Locations: near the grocery store, throughout New England
Hours: 8 a.m. - 6 p.m.
ATMs: at the bank, near school
Membership: none
Fees: $25 fee for bouncing a check, $15 fee for overdraft
Minimum balance: no minimum balance
Interest rates: .5 percent

Answer 1

Answer: New England Bank.

Explanation: Starting with the services offered by both banks which are very similar except for the online banking afforded to New England Bank customers which means customers can bank from the comfort of their mobile devices and PC. Online banking is a very essential services in banking today.

Location : Throughout New England means customers need not worry traveling long distances before being able to visit their banks.

New England Bank also offers more opening hours to attend to customers

Even though ATM's are located at the bank or near school, since New England banks are easy to access and the availability of online banking. ATM location wouldn't be much of an issue.

New England Bank also offer higher Interest rate of 0.5% and doesn't require a minimum balance.