What You Need in a Bank

With all of the changes in the banking industry over the last few years, it is getting harder and harder to get a bank that has everything you need.  And if they do, they charge a boat load of fees to pay for it.  When looking for a bank, here are some things you should look for, because the best banks out there still offer them.

Convenience

 Whatever bank you choose, it should be convenient for you.  For most, that means offering a full suite of online products, such as online banking and online bill pay.  It also means being able to reach you where ever you are – so does your bank offer mobile banking?

Finally, do you even need to go to the bank?  The best banks out there offer services such as scanning your checks into the computer, or taking a picture of your checks with your phone to process as deposit.

No Fees

 Next is how much in fees does your bank charge?  The best banks charge very few fees.  I’m a firm believer that you should still be able to get free checking, free checks for your checking account, and that your bank should reimburse any ATM fees you incur (especially if they are an online bank).

You bank should also not charge you any fees for transferring money or for using online services like Quicken or Mint.  You’d be surprised how many big banks do.

Full Service

Finally, I think that all banks should be full service.  Banks like Clydesdale Bank offer everything from basic checking and savings accounts, to loans and other services.  You bank should be there to serve your needs, and this means having everything related to your finances in one place.

Another popular bank even has insurance and investing under one roof, which makes it very convenient as a consumer.  However, make sure that you aren’t just doing it for convenience, but also because the prices and fees are reasonable.  With all the competition in the banking sector, there is no reason to choose the best deal!

Post by Robert

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