What's In Your Wallet? No, really.

...to name just a few!

**Disclaimer: I am not advocating any bank in particular, just that you educate yourself about your bank and realize you do have choices***

I started my first bank account when I was in 3rd grade. My school had a program where you could bring $5 to school every week which would then be deposited for you in a local bank account under your name. It was a pretty cool program, but as an 8 year old and I really could not have cared less... and I certainly didn't care which bank had "my" money.

I stayed with that bank (Salisbury Bank & Trust) all through my teen years until I moved to Texas, where I opened up a bank account with Chase because my sister earned an incentive for bringing in a new customer. When I moved back to Connecticut I opened a Webster Bank account because in my home town there are no Chase's and my best friend banked with Webster.

Even though I've transferred banks quite a few times in my short time as being an "adult", I have never really considered what it was that I wanted from a bank, and to be completely honest, I didn't really think there was much difference from bank-to-bank. I simply bounced from bank to bank depending on what my friends and family thought, but never actually looking at my finances and seeing what would be the best fit for me. It wasn't until just a few weeks ago when I had an unpleasant experience with Webster that I decided that maybe I should explore my options. After looking around and seeing how other banks offered their services, I decided to give my business to another local bank, People's.

As a college student, it is so important to be aware of your finances and take responsibility for your money and spending habits. Being away from your parents, you're going to need access to your own cash and having a bank account in your name is a vital step to becoming an independent adult (at least from my point of view).

Here are some things that I thought about when I was thinking about what bank would be right for me:

• Do they offer a free checking account? Most banks will offer some type of special for college students, just make sure to let the teller you're working with know that you are a student and bring your school ID!
• Are their hours conducive to my schedule? I used to think all banks were 9 am - 5 pm, Mon - Sat, until I found out that People's is open 7 days a week and open until 7 pm on week days! For my schedule, that makes a ton more sense for me, because I am never out of work before 5 pm so going to the bank if there is an issue is a huge hassle.
• Are there enough branch locations in the area? Ideally, you would want a bank that a) has a lot of locations in New Haven, and b) has a location in your home town as well so that you can access your money even when you are home during breaks. Having many branches available in New Haven is important because often times if you use an ATM that is not your bank's, you will get charged by that ATM and by your bank. To avoid those extra fee's it is more simple to just go to your bank's ATM, which is why you may want a bank that has various locations throughout New Haven.
• Are they a big or small bank? Depending on your personal views, you may prefer either... but that is something that you may want to consider. Some people prefer larger banks (like Chase or Bank of America) because they feel more secure with their money in a larger bank and typically larger banks will have the most up-to-date technology. Others may prefer smaller banks because they don't want to support the corporate giant banks and want to stay local/smaller. Also, people may choose smaller banks because you may get more personalized attention and they are typically more customer focused.
• Do they have mobile banking? Mobile banking (different from online banking, which is something I think at this point all banks have) means that you can do banking from your smart phone. Some banks (like Bank of America, People's, and others...) allow you to actually deposit checks by snapping a picture on your smart phone and submitting it to their app. You can also do other stuff like check your balance, transfer funds, etc. As someone who is already always looking at my phone, for me this is a huge benefit and something I really look for in a bank.
• How long do they hold checks? I used to think it was standard for checks to be held for a few days after depositing them but realized after talking to People's bank that this is not the case. At some banks (People's is one of them, not sure about other ones), pay checks are cleared automatically, meaning as soon as you deposit your paycheck you can go spend it (not that you should)! This is a drastic difference from other banks who will sometimes hold your check for days to verify that it is good, which can cause problems if you're on a tight budget.

There are most likely a ton of other factors that I didn't even consider, but when I picked my new bank those were the main questions running through my mind. I think the most important thing about deciding where to bank is to realize that you do have options and that you should not give a bank your business if they do not treat you with the respect you deserve.

For those who are not familiar with New Haven, here are some of the more popular banks in this area (in no particular order):

• Bank of America
• Chase
• People's
• Webster Bank
• First Niagra
• Wells Fargo
• TD Bank

What about you, where do you bank? Do you like it? What did you consider when you opened your bank account?