Are you in need of a new bank? If so, you are not alone. Thousands of people every day are looking for a new bank for a variety of reasons. Maybe you have just relocated to a new state that doesn’t have branches of the bank you currently have, or perhaps you are dissatisfied by the services your current bank offers and want to see what else is out there. No matter what the reasoning for your search might be, there are a few key things to remember along the way. Below are just three of those items:
1. Fees – One of the reasons that customers find themselves frustrated with their current banking institution is not being aware of the outrageous fees that they charge. The fees can be for just about anything from overdrawing your account, having too little of a balance, or closing your account early and requesting a paper statement. Before signing anything with a new bank ask for an explanation of all of their fees. The last thing you want is to assume that you have a certain amount in your account only to realize at an inopportune time that you have less than that thanks to pesky fees.
2. Services Offered – When choosing a bank, consider what the institution can offer you, the customer. For instance, does the bank offer mobile banking with the ability to deposit checks that way? Or is there a way for you to access your credit or debit card information without having it in front of you? Studies show that many people agree that the United States will eventually be a cashless society, and purchases will have to be made with some form of an electronic payment like a credit or debit card.
3. Branch Availability – Another huge reason that people choose a new bank is because their old one is simply no longer available to them because of a recent relocation. Having branch availability is a huge benefit, especially if you find yourself needing to speak with a personal banker face to face rather than over the phone. A good option for this is to choose a local bank. Community banks actually account for nearly 100 percent of banks in the United States today, and hold more than $4.9 trillion in assets and $3.3 trillion in loans to their various customers.
The next time you find yourself needing a new bank, either because you are fed up with your current choice or you have moved to a new location that doesn’t have a branch for your old financial institution, remember to ask about these three things. Make sure that the fees will not drive you crazy every month, that the services offered are varied and meet all of your needs, and that there are branches nearby that you can visit if you urgently need to. With this criteria you are bound to find a bank that you really connect with and that will take care of you.
