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What is the best bank for a retired person? A 2025 guide

According to a 2023 analysis of Bureau of Labor Department data, a significant drop in spending typically occurs for U.S. households over age 65, which makes managing fixed income and savings a top priority. To make the most of your money, it's crucial to understand what is the best bank for a retired person, focusing on accounts that offer low fees, competitive interest rates, and excellent customer service for the long term.