Choose Wisely When Selecting Your Bank

Are you currently satisfied with your bank or credit union? Have you ever noticed that they’ve made a mistake on any of your transactions? And, do they make it easy for you to check your accounts online? Most banks are actually fairly accurate when it comes to transactional processing and reporting, but there are many that seem to make it difficult for you to manage your money the way you want to, and on your own time.

It used to be that people were willing to operate around the bank’s schedule. After all, it was a safe place to put your money and you were able to go there and make a withdrawal while seeing all of your friends at the bank. Sure, the hours were not too conducive to the typical workday, but most of the time, it wasn’t a big deal. After all, that’s just the way things were. People didn’t know any better.

However, with the capabilities of technology available to us, banks have become much more flexible. If you need money now, no problem, just hop in your car and head over to the ATM. You can probably get up to $400 in a single transaction, which is plenty for almost any transaction. Also, there’s additional flexibility when you can log into your account online. Do you want to move money from your checking account to your savings? No problem; that process will take about 2 clicks and 3 seconds. Presto, you’re done.

What Does Your Bank Offer?

With the advancement and wide-use of the Internet today, banks are in  competition with each other more than ever before. Do you realize what that means for you? It means you are in demand! You can use the web to find the best deals and even sign up online in many cases.  Banking has truly become something you can do most of the time without leaving your home.

Whatever the case, do some research before making your final selection. Be sure that your bank is right for you and your goals. Here are some questions to ask yourself:

  • Is the bank open with convenient for you, if you need to visit in person?
  • Is there a branch nearby, maybe inside a grocery store?
  • Do you need a personal or business account?
  • If you are planning to put a good deal of money into savings, what are the interest rates?
  • How convenient is online banking?
  • If you use Quickbooks, does the bank or institution offer downloads in the format which you need?
  • Can you deposit checks using a scanner or cell phone?
  • Is mobile banking available?
  • Are there monthly charges for having an account?
  • Do you have to jump through a lot of hoops in order for the account to be free?
  • If it’s an online bank only, how long does it take to get access to your money?

 

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