Choosing a bank seems simple…go with the one your parents have used for years. That is a poor strategy. You may be paying the highest rates in town without knowing it. A bank, like your cable and insurance providers, should be checked out and compared. Here are a few tips to help you find the best bank.
Decide what you need from a bank. To do this, look at past statements to help you be aware of your banking habits. Check out each statement so that you become aware of all the fees you are paying. Otherwise, you can find yourself exploring your options with a debt consolidation company in Nebraska before you know it.
After arming yourself with the items in step one, begin to shop around, both online and at brick and mortar locations. Going with a strictly online bank can offer you lower fees across the board, but may limit your options. Never use promotions as your sole reason for going with a bank. Do not accept an account that has features that you will never use.
Once you have decided on a bank, get on the phone. Prior to the call, write down any question that you can think of. Ask each of them before you hang up. If the customer service rep you talk to acts as if they do not have time for you, cross that bank off your list and call the next one.
Choosing a bank is a decision that warrants serious time. All of your options need to be explored before you make a decision that could affect several years of your life.