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Banking & Savings
Finding the Right Bank |
If you're like most people, you
probably picked your current bank because of its location and the fact that it offered you
a low minimum balance with no monthly fee.
But not all banks are alike. That's why it's important to shop around if you're looking
for a place to deposit your hard-earned dollars. Knowing what to look for can help you
save money on what it costs to bank.
Banking Choices
You shouldn't limit yourself to just banks if you're simply looking for a checking or
savings account. There are other financial institutions that provide similar services.
- 1. Commercial Banks
- 2. Saving and Loans
- 3. Credit Unions
- 4. Private Banks
- 5. Mutual Funds
- 6. Brokerage Houses
- 7. Insurance Companies
What Do You Need?
Here are some things to consider:
- What kinds of transactions will you need to make?
- How much money will you keep in the account?
- How many checks do you plan to write a month?
- How much are you willing to deposit to have access to more services?
- What time of day do you normally go to the bank?
- Do you prefer the convenience of an ATM or would you rather bank in person?
Features to Compare
When shopping for a checking or savings account, it's important that you compare features.
It pays to know the difference between accounts.
Look closely for some of the following features:
1) Services
- What selection of products does the bank offer?
- Holiday club savings.
- Senior accounts.
- Checking, savings, or money market accounts.
Investment services.
Insurance products.
What is your perception of service at
the bank?
Do the bank's employees seem friendly and helpful?
Do you feel comfortable in the bank's surroundings?
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