The 5 Best States for Banking

Did your state make the list?

ABA Offers Tips for Small Business Owners: Assessing Your Banking RelationshipIf you’ve ever wondered which states have the best banks and how they compare to the ones in your home state, wonder no more. MoneyRates.com has unveiled its annual Best and Worst States for Banking lists. They’ve named which states are best for banking based on breadth of choice, stability, quality of service, and competitive rates.

The survey finds that these states come out on top:

  1. Missouri: Missouri topped the list for breadth of choice, stability, and customer service. Missouri has more than 350 banks. What’s most impressive is that the state experienced no bank failures last year.
  2. Kansas: Kansas has several local banks available and also had no failures last year.
  3. Nebraska: Nebraska has fewer choices when it comes to bank options, but it had no bank failures. This state is ranked in the top 10 for customer satisfaction.
  4. Massachusetts: Massachusetts also has the distinction of experiencing no bank failures last year. The state is noted for having many banks from which to choose.
  5. California: This state was also free from bank failures last year, despite the fact that it has one of the 10 largest banking populations. Says MoneyRates.com, “Another strength is that two banks offering America’s Best Rates are available in California. However, the state did fall outside the top 10 in customer satisfaction.”

Visit MoneyRates.com for entire list.

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