While many people choose the bank that is closest to where they work or live, comparison shopping is worth the time for advisors and their clients, says the Federal Deposit Insurance Corporation in the summer edition of its Consumer News.

Money habits are key.

Thinking about your day-to-day life and how you like to handle money can help you and your clients chose the bank that’s right, according to the FDIC.

Some questions to answer before shopping for your best deal:

• Do you receive a fixed paycheck or pension on a regular basis or does the amount and frequency of your income vary?

• Do you prefer to pay for purchases using cash, credit cards, debit cards, paper checks or online bill-paying services?

• Is one of your personal financial goals to set aside money regularly for savings?

• Are you concerned about possible overdrafts and the fees you might incur as a result?

If you withdraw money regularly from ATMs, you could save money by looking for a bank that won’t charge fees for using another bank’s ATM or even reimburse customers for fees charged by the ATM owner.

Another money-saving tip to keep in mind when shopping, says the FDIC, is that many banks will waive or reduce monthly maintenance fees and minimum balance requirements if you have your paycheck directly deposited or you have a minimum number of electronic transactions.