El Paso Named One Of Best Cities To Bank In

Go Banking Rates, an online provider of national and local bank rates and personal finance products, has recognized El Paso as one of its top cities to bank in because of its high 1.49 percent APY average interest rate on deposit accounts.

“The city also has a great variety of banks with five local El Paso banks to choose from,” stated a news release from Go Banking Rates. “Banking is an integral part of the daily lives of consumers all over the nation, and yet, banks are often taken for granted. Due to the bad press associated with larger banks throughout the recession, consumers have become leery of whether their bank is doing its best or even if it will stay open throughout the year.”

Go Banking Rates gathered data from over 600 cities around the nation, small and large, and chose 20 that had the best combination of a favorable amount of banks per person and high deposit account interest rates.

?El Paso has one of the highest average interest rates for our whole list and is the best of all the large cities. The variety of local banks definitely provide a number of options to help consumers make their money work for them,? said Jeff Bartlett, President of the GoMedia Network, which owns and operates Go Banking Rates. ?El Paso has one of the highest average interest rates for our whole list and is the best of all the large cities. The variety of local banks definitely provide a number of options to help consumers make their money work for them.”