Are you looking for a brand new bank and having trouble trying to figure out which one to go with? There are a ton of banks out there and it is difficult to figure out which ones hold the most benefit for you. Here are some tips that will help you find the bank that is just right for you.
Why Choose a Credit Union Over a Bank
You should think about doing business with a credit union instead of doing business with a major bank. Credit unions tend to offer customers more benefits, yet they usually have fees that are significantly lower. Another good thing about a credit union is that the criteria needed for a small personal loan is not as strict.
Online banks are becoming more popular and you should consider them when you are doing your banking. Many of these banks are legitimate, FDIC-insured banks, they just choose to offer online bank accounts. A lot of online accounts do not carry as many fees as traditional bank accounts, so that makes this a more attractive option.
Before you sign up with any bank, you want to make sure that they are insured by the FDIC. If they are not, you stand to lose all of your money if the bank is robbed or closes for business. Most banks in the United States are FDIC-insured, but there are several online banks that are not. Avoid these banks in order to protect your money.
Research all fees that are charged by a bank. Most people just look into the interest rates and monthly checking fees, but there are a lot more fees you should be aware of. Many banks charge fees for overdrafts, debit card charges, using non-network ATMs and a host of other things. Make sure that you understand any and all fees before you sign up with a bank.
You want to research what ATMs are available in your area because you do not want to get stuck paying tons of ATM fees. Most banks charge you for using ATMs that do not belong to them or are not part of their network. These fees can add up if you are one of those people that uses the ATM a lot. Try to find a bank that offers free ATM transactions at several locations, instead of just at their own bank.
Bank to Make Customers Pay Debit Card Fee
There are some banks that charge customers a fee for speaking with a customer service agent. You want to avoid these type of banks like the plague. There is no reason why you should have to pay to talk to someone if you have a question or concern. This is particularly offensive if you have to call due to a banking error, since it means you will be charged to speak with someone about something that is their fault.
This guide should have given you enough information for you to decide which bank is right for you. There are so many options out there that you have to do your research and makes sure that you are selective. You do not want to end up paying them an arm and a leg just to do business with them.
