How to choose your bank?

Choosing your bank is an important decision. You must not engage without listing your expectations…

The location of your bank’s branch.

For this you must think about your habits and your needs. If you need to do branch banking, then go for a bank near you. If you need to be accompanied and advised during these banking transactions, then do not choose an online bank.

The interest rate charged by the bank.

Compare the interest rates that banks offer, and the various conditions that come with them. Your choice will be determined by your use of the bank account, if you have savings to place on an account, if you want to take out a credit with this bank. Compare savings interest rates, checking interest rates and investment interest rates.

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How and why choose an online bank?

The first advantage of an online bank is its low cost. The main services are free, such as withdrawals of money, bank card, checkbook. However, you have to be careful about the other paid services you may need so you do not end up with exorbitant prices on the transactions you need every day. This is why you must consult all the proposed rates, and read the fine print on their contract proposal.

You can compare interest rates in the medium and long term.

Also check which consumer service or after-sales service the bank offers.

Does the bank provide you with a dedicated bank advisor?

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Understanding the Pros and Cons of Overdraft Accounts

In the world of banking, one of the most dreaded fees for consumers is overdraft charges. Anyone can make a mistake when balancing the checkbook. When that mistake results in a check being declined, the bank charges a non-sufficient fund fee. This can start a domino effect as the charge sends the account balance lower and other checks are returned. The best way for consumers to protect themselves is with an overdraft account, but you need to understand how these programs work.

 

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