Banking 101

BANKING 101

How to Choose the Right Bank for You

This article will provide tips and guides that you will need in selecting the best bank for your money. End your confusion and torment! One should consider several factors before choosing a bank.

Willing and Stable

Obsercers say large bank offer more services at lower costs while the smaller ones reel you in with their more personal service. The reverse can also happen. Of course, the bottom line here is stability. It speaks a great deal abou a bank’s track record and staying power.

• Find out how long this has financial institution been in business.
• Annual reports and statements of conditions provide you so much information regarding timelessness of its products.
• Ask how the deposits are insured.

At your service

Before you open an account, make sureyou know the bank’s quality of service.

• Experts say it’s wise to develop a history with a bank that offers the services you may need in the future.
• This is not just about products. This is about ease of transaction and the bank personnel’s people-first orientation.
• Ask around to know how contented other clients are with your target bank. An A-rating from satisfied clients means you will get the same superior service.

Convenience Banking

Covenience is critical especially for supermoms who juggle countless responsibilities at any given time. Rate you prospect’s accessibility

• How far must you travel to get there and go about your banking needs?
• Is phone/internet banking available?
• Are its ATMs strategically placed and do they work most of the time?

_Reference:

_{Good housekeeping, June 1999, p 76}