Whether you need more options online or are unhappy with your returns on CDs and other savings accounts you are ready to find a new bank. Your bank should offer you convenience along with a wide array of account options to help you grow your savings.
Keep these 4 tips in mind to choose the right bank for you.
Account Options
Look for more than a savings account and checking account when searching for account options. As your needs change you’ll be interested in different types of investment vehicles. A CD may appeal to someone who wants a greater return on their investment. Aspiring home owners may need a loan to make their dreams come true.
Pick a bank which offers a broad range of investment options. If you’re slowly building your nest egg think about the future. Choose an institution which addresses your current and future needs.
Find Special Rates
Banks differentiate themselves from the competition by offering special rates and deals to entice customers. Shop around for discounts. Savvy bankers know that offering timely deals builds more prospering long term relationships with customers.
Reward programs, free gifts, high yield CD and checking accounts and offering cash back on purchases are but a few benefits to search for when you’re looking for a new bank. Carefully review each bank’s special deals to compare and contrast how their offerings best fit your needs.
Just make sure to pursue deals that don’t require high account activity levels. Be on the lookout for special rates and other benefits which don’t expire quickly after you open your new account.
Trust Factor
Why park your money in an unstable bank account? If a bank isn’t a trustworthy, solid institution you have no idea the risks they may be taking with your hard earned cash just to stay afloat.
Any balances under $250,000 are insured by the FDIC but when banks go under you’ll need to choose a new bank or you’ll automatically become a member of whatever bank has taken over the failed institution.
Save yourself headaches and future research legwork. Pick a trustworthy, stable bank by picking financially healthy institution. Research your bank online and offline to make sure they have their financial shop in order.
Convenience
Select a bank close to home for a convenient experience. Don’t forget to choose a bank which offers you a wide network of ATM machines. If you travel regularly you want to avoid paying a small fortune in ATM fees.
Look for mobile banking and online banking services to access your funds on weekends, holidays and other days when branch offices may be closed or may offer limited hours.
Demand eStatements and online bill pay to bank on the run. Established, legitimate banks offer a wide array of banking services for the busy, mobile customer. You need to be able to check balances, transfer funds and deposit payments through your iPhone or Android device as mobile adoption rates increase. Pick a bank with a healthy online presence to make your life easier.