Thus we kick off our best bank offer awards for 2011.  There have been significant changes to the banking landscape in the US this year, thanks to idiotic regulatory changes brought to you by an idiotic Congress and executive.  In any event, some banks rise above the fray and they should be honored.  In any event, without further pause our best bank of 2011 is…

Charles Schwab Bank

Despite having no retail locations, this bank takes the cake for its attractive checking interest rate, free everything, ATM rebates, and now iPhone and Android smartphone apps for depositing checks.  Above all else, the customer service is top notch.

Congratulations Charles Schwab Bank.

As I write this mortgage rates sit at 4.5 percent for a 30-year fixed rate.  This marks one of the longest sustained periods of dirt cheap mortgage rates.  What does it really mean, however, for your everyday consumer?  Mostly, it tends to mean that this remains a good opportunity to purchase a home.  I make one big caveat, however.  You must be planning on staying in your home indefinitely.  Housing prices remain volatile and if you have a more fluid lifestyle, say as young professional without kids, you have to be very careful.  That said, it’s not only low interest rates that make buying a good opportunity, but also the prospect for massive inflation.  Take a look at the graph posted below and combine it with what you know about the US budget deficit.  The US dollar is very likely to see significant inflation, if not hyperinflation in the future.  This is amazing for debtors (mortgage holders) because it means you’re paying back you loan with cheaper dollars.  The best mortgage offers right now seem to be coming from Box Home Loans and Americash Mortgage Bankers.

People continually wonder, what are the best bank perks.  It’s hard to say because a lot of it depends on your own personal desires.  For some people perks mean good customer service.  For other perks means making banking as easy as possible.  For still others, its all about money.  In terms of money, I think the best bank perks are as follows:

1) Cash back debit cards

2) Free ATM withdrawls

3) Cash incentives for opening account

If you’re looking at convienience, I would say

1) Mobile check deposit

2) Extended hours

3) Easy to navigate website loaded with features

Of course, this is all about personal preference.  I am not sure you can get all things at all banks, but you definitely can get all things in your category of preference.  This my take some research, but banking is so important to your life, it’s worth taking the time to look around and find the best bank perks out there.

In these days of terrible interest rates, savings is not exactly encouraged.  That said, that should not prevent us from seeking the best checking account that gives you a return on your investment.  Obviously, these days your return on that investment simply is not going to be all that great, but interest rates will have to go up and if you’re in a solid interest bearing checking account today, you’ll be in great shape tomorrow.  Ordinarily, I would direct my readers toward Schwab Bank.  For those of you looking to try something different, however, there is a new player in this realm that offers a lot of attractive features.

Flagstar Direct is an online bank that offers all of the great features you’d expect from a top bank, but also has interest checking accounts that have no monthly fee and no minimum deposit.  The best part, however, is that the APR is 0.9%, a number that’s competitive even among savings accounts, let alone checking.

The question continually arises: can students find attractive offers from banks in this day and age.  The answer is most assuredly: yes.  Like any other business, banks want to establish consumer brand loyalty during people formative years.  For the product of banking that is during their college years.

Students generally have two options.  The first and often most attractive is establish a checking account at the local credit union where their university is.  Most universities have some form of local banking option like this.

While the idea above may seem quaint and reassuring, the small credit unions do not seem to be able to compete with a growing number of online banks that offer really great deals.  The best banks for students often include zero ATM fees.  For students withdrawing $10 or $20 at a time, a $2-$3 fee for withdrawal is onerous to say the least.  That’s why we encourage students to look at two solid online banks with no ATM fees.  Take a look and compare the services at our two award winners:

1. ING Direct
2. Ally Bank