How to Choose a Bank
Bank Considerations
Friendliness and Professionalism-You don’t want to deal with a cranky bank teller at the end of a long day. When you visit a bank, look for pleasant tellers and ask about the error rate, especially at the drive-through window. A low rate of error is a sign that you’ll get professional, accurate service on your daily transactions.
Location-A bank that has great rates and minimal fees but is ten miles out of your way is probably not worth the gas money. Your bank is a place you may need to visit at the last minute or in the midst of other daily errands, so make sure it is conveniently located or has multiple branch locations.
Number of Branches/ATMs-If you know you’re going to be making many trips to the bank or need quick access to the ATM, make sure your bank is large enough to offer a variety of locations. Some banks are now offering no-fee foreign ATM withdrawal, which means you can go to any ATM and pay nothing extra for getting money out of it.
Consider a Credit Union-Check to see if you qualify for any credit union memberships. These are like traditional banks except that they usually do not have to pay stock dividends, which means lower fees. These are great options for people who don’t need a wide variety of bank options.
More Than One Bank-Some people find it better to have accounts at different banks. If you are very specific in the types of options you want, this may be a good choice. However, you will lose the convenience of one-stop banking.
Response Time-This is something you may only be able to find out about through recommendations from others or from personal experience. You never know when you may need to contact your bank for a financial emergency and you want an institution that will be quick to respond, either in person or on the phone.
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