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Money matters

How do you choose the right bank? Free checking, low interest rates and bags of rice are only the beginning.

Do you know your out-of-state check takes five days to clear in Hawaii? Aloooha!

If you’re new to our Islands and haven’t had this happen yet, brace yourself. Island life will definitely be easier with a checking account at a local bank.

Many banks will offer incentives to entice you to open your account with them. Free checking accounts, no ATM fees, and CD rates are all very competitive reasons to pick a new financial institution to do your banking, but only in Hawai‘i can you enjoy some of the Island-style perks that are sometimes offered.

Good: Open a new account and get a free bag of rice. If you are new to Hawaii, you might not appreciate the generosity of this offer. Rice is one of Hawaii’s basic food groups and the offer of a free bag is absolutely irresistible.

Better: Free SPAM — the second of the basic food groups. More than 6.9 million cans of SPAM are consumed in Hawaii each year — where else in the world can you find an annual Spam Jam, celebrating this delectable cuisine of processed meats. Free SPAM? What could be better than that?

Best: Free bag of rice and free SPAM. Musubi fixin’s — two basic food groups in one ono dish.

Incredible: One free bag of rice, free SPAM and (drum roll, please) ... FREE BEER! Now that’s MY Bank.