4. You are not limited to only one bank. You could spread your risk by choosing to save your money with different banks.
5. Banks have deposit insurance. Your money can be insured up to $100, 000 in case the bank goes bankrupt.

However, there are always going to be bad apples. The bank have some disadvantages...

1. The bank could go bankrupt, so part of your savings will disappear.
2. The bank's interest rates are low. The rate could be as low as 0.025%! It means if you save up a dollar, and leave it in the bank, they could give you a return as low as two cents!
3. Most banks are limited in distance. Not many banks are worldwide, so you cannot take your money out just wherever you are.

There are some more tweaks and disadvantages, but be careful of the listed ones. Now, to the part you've been waiting for--the bank I recommend! In my opinion, I recommend everyone to one account with a close-to-home bank. Next, open an account on an online bank like ING Direct. Why? Here's why...

1. The online bank's rate of interest is way more higher than other banks! For example, at ING Direct, you get at least 4% interest!
2. Online banking is convenient!
3. You can transfer you money in your online bank into your close-to-home bank!
4. It is a lot faster than traditional banking or ATMs.

Anyways, I'm not saying everyone should have an online banking account. There is still a question of trust--can you trust online banking? Well, that's up to you to decide, but I think the best way to bank is online!