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.
Before choosing, assess the financial stability and ethics of each bank. You can conduct a survey of banks before making your choice, so that it is consistent with your values and opinions. In order to know the financial perspectives of the bank so as not to trust a bank on the brink of bankruptcy. But also to know the possible scandals to which a bank can be associated, the use that the bank makes of your money can count for you.
The number of ATMs and their positions.
Find out about ATM positions around your home and workplace. Also look at their positions at the locations of your business trips or holiday destinations. Some banks add extra charges if you use the ATMs of other banks, so this is a point of vigilance.
The scope of action of the customer service.
If having effective and available customer service is important to you, check out the user reviews. Some banks can offer you customer services that only work by phone with amplitudes of hours more or less wide. Other banks can offer you a dedicated person who will be your exclusive and personalized contact. Some services can be proposed to you with a personalized interview with an adviser in agency. Be careful, some account formulas only provide a customer service that can be reached by mail or on the internet.
The transactions included in your contract.
You must check that your current transactions are well understood in your contract with the bank and will not be subject to additional charges. In particular, check the use of Automated Teller Machine (ATM), account balances, bill pay, credit cards and deposits, investment accounts, online banking …