Panama City may look like it’s a tourist town, but banks in this town know how to get down to business.
This city made our list of Best Cities to Bank in because of it’s high 1.37% APY average interest rate on deposit accounts. Panama City also has a great variety of banks to choose from with an amazing number of banks available to a smaller population
What makes Panama City really stand out (other from it’s pristine beaches) is the five local banks of our list for a population of 36,000. That’s one of the best ratios for all cities on our list.
Why Does This Matter?
Banking is something we all depend on and use pretty much every day. Banking in integral to most of our lives, and yet, we can take our banks for granted.
We should always be evaluating where we put our hard-earned cash and looking for better banking solutions — especially given the current economic climate.
Some big banks have gotten bad press with the recession, and as a result we’re all a little leery of whether our bank is doing it’s best or if they’ll stay open through the year. But if you really think about it, there are still great local banks and credit unions The kind that will help us grow our money and reach our personal goals.
Best Cities to Bank in
We wanted to reward cities where the banks have maintained standards and kept interest rates high, so we crunched the data we use for our constantly updated rates table and did some research on over 600 cities — small and large.
The cities we chose had more banks per person, allowing consumers to chose the bank or credit union that fits their needs best. The chosen cities also had high average interest rates, with savings, CD, checking and money market accounts considered.
Is Your City on the List? Do You Have a Favorite Bank?
We want to turn the list over to you. We found the best cities, but are there banks that shine particularly well in your city? Do the tellers welcome you with a smile and remember your name? Do the interest rates beat all other competition?
Tell us and you could win $1,000! You could also win a coveted Apple iPad, just for telling your friends to give us the skinny on their favorite bank.
Want to see the rest of the rest of the list? Find all of the cities here.
