Choosing Your Bank

Izzy Meszar

Location

What areas are convenient for you to have a bank?

(think close enough to stay away from ATM's as often as possible)

Current Bank

Things you like?

Things you do not like?

Think Budget

Look at potential banks and their

  • interest rates
  • prices for different services
  • fees (how high and how many)

What will you use?

Go into a bank's web site with a set list of things you want and don't want to ensure you aren't being swayed by the advertisements

Online Banks

Weigh your pros and cons

ex. do all your banking at home, but you are risking identity theft

Bank v. Credit Unions

Weigh the different benefits and drawbacks of each

Your Future

Think about large purchases you may be making

ex. car, house. children etc.

With children on the agenda, think about college funds and your best options to create and protect them

Read the Fine Print

Ensure you read and understand the policies of potential new banks as well as your old bank and decide what you do and do not like about your old bank's policies

Other Options

Different ways of banking other than an actual bank or online banking

ex. stock brokerage, regional banks, using several different types of banking

Compare and Reflect

Compare the different banks and types of banks together to decided which is best.

Also, reflect on your own life and which banking would be best for your needs, both present and future.