Guidelines to Help You Choose the Right Bank for You
There are many common mistakes made by people in this world when it comes to choosing their banks. After opening an account there, they find either the interest rates are too low or that they have to maintain a huge amount of balance at all times. This is a competitive world and banks are always promising huge things to their customers. Not all their claims may be true and some of the customers get to know this the hard way. Money is very important to all of us and it should be handled with a responsible financial institution. Let us look at the best way to choose a good financial institution for ourselves.
Check the location of the bank you are considering for yourself. It should be close to your house so that you can access it quickly when you need it. If a bank is located too far away from your home, then you will be wasting precious amount of time by just commuting to and fro from the bank.
Choose a bank that has a fair number of ATM machines spread all over the city. A bank with only five ATMS all over the city is certainly not meant for you. The branch where you open your account should have an ATM attached with it.
Check the services offered by the ATM
Check whether the ATM machines of your bank allow you to make the following transactions. Does it allow you to print statements as and when you require them? Does it allow you to check the available balance? Does it enable you to request for a new checkbook when you need one? Does it have a drop box where you can drop your checks for payment? All these functions and services are necessary and should be offered by the ATM of the bank you choose.
If you work during night shifts or if you are just not a morning person then you would require a bank that offers telephone-banking services. With this facility, you can call up the number and ask questions regarding your account at any time of the day. A good bank will have a toll-free telephone banking number of their customers. It should also offer you the following services – transferring the balance from your account for paying bills, checking the balance in your account, enquiries regarding other services and products offered by the financial institution.
Now this is something, which makes life easy for you. You can log in with your customer ID and password anytime and check your account. It offers you all the services offered by telephone banking along with some more like recharging your phone and adding payee accounts for making direct transfers to them. The bank you choose should have a good verification system place for conducting online transactions. This is especially required for buying things from online stores.
Apart from all the above considerations, you also need to check whether the bank understands the kind of work you do and is willing to offer you loans for the same.