- Large does not necessarily mean better or safer technology. Many banks (including the largest and the smallest) use the same vendors for providing online banking solutions. The only difference is the customized interface.

- Large does equal safety & soundness. Check the financial condition of all insitutions, big or small, before putting your cash there. Many times your money is just as safe with a regional or community bank as it would be with the largest U.S. banks.

- The FDIC insurance rules are totally different now (which, out of fairness, were changed after the date of this article). Non-interest bearing accounts, NOW accounts, and IOLTA accounts have no limit on FDIC insurance. The key is to call your banker and ask them if your institution is participating in the program and how you & your money are protected. There are many ways to structure accounts to fully insure your funds (both non-interest bearing and interest bearing).

- The benefits of smaller institutions far outway that of large banks. Most community banks allow you to use any ATM machine worldwide and no charge, and will actually reimburse you any charge incurred from the other institution. At a community bank you are far more likely to have a one-on-one relationship with someone who manages your account vs. an 800 number and a computer screen. In instances where you over-draw an account or mail a payment late you can call and have the charges easily waived/reversed.

As a long time banker, the best advice I give to my friends and family is this: know your banker (not just your bank). Find out who your relationship manager is and ask her to coffee. Then when you have an issue, you’ll have someone to call…just like everything else in this world, at the end of the day it is who you know.