Perhaps it’s time to look at how your bank treats customers, or how it treats you. There are things that we can or can not tolerate. Some of these things show us that it may be high time to change the bank that handles our money.
1. Compensation, Other Fees
Banks charge customers fees for certain products and services they use or do not use. Some may not even notice them.
If you have high (or unexpected) costs, for example, for account maintenance, high transaction fees, high interest rates or other fees maybe it’s time to think about a change.
These costs can be quickly collected and displayed on your account. You may be able to eliminate them if you talk to your bank clerk about them, but do engage with knowledge of where you could get better offers.
Banking services should be customized according to your needs. In fact, it’s your money, and you should use it when and how you wish. You should have access to your money at any time.
This is one of the most important things when choosing a bank. If you want cash, for you it is most important to make sure that you can withdraw your money at any moment. The layout of ATM’s and bank branches is of crucial importance when choosing the same.
If you want to track your account no matter where you are, you need a feature like mobile banking and online transactions. The bank you choose must have this opportunity, while not charging it further.
3. Customer Service
Some banks do not seem to place the customer relationship in the first place. If you feel invisible at the counters, invisible to credit referrals or customer service representatives did not listen adequately and politely to your problems, it may be time to change the bank and find one that will give you a pleasant banking experience. Also, make sure that your SOS line or online counselor is at your disposal (24/7).
4. Does not follow the movement of interest rates
You want an opportunity to earn a fair interest rate on your savings accounts. Do not miss the opportunity for the money you already have to you earn extra money. If your bank does not provide decent interest on savings, it may be another reason to consider changing it.
If the Deposit Insurance Agency does not insure your bank, consider it a red light. This organization is responsible for insuring the money that is in the bank, including savings. It is important to make sure that your money is safe.
6. Changing your way of life
If you have recently changed your obligations to work, working hours, or changed your marital or financial standing, health and etc, you may have to consider new banking opportunities. When your banking needs change, it’s a great time to re-evaluate whether your bank continues to meet your needs.
For example, if your bank does not have the best interest rates for mortgage loans, and you plan to buy an apartment this year, you may need to consider switching to another bank that offers better benefits.
If you decide to make a change, it is important to compare more banks and find the best offer that does not involve higher costs and have the options that you need at the moment. When transferring to another bank, be sure to close all the accounts and settle all obligations to the previous bank.