As the fees that banks are charging for routine actions rise higher, many people are beginning to consider switching banks to save money. Changing your bank can get you better service at a better price, but many people resist making the change because of the perceived disruption to their lives. Because of the big changes that come with the move, some people actually dread the task and would rather pay the fees. If you are not one of these people, here are some moves you can make that will ease the stress of changing banks.
Know What Products And Services You Want
One of the biggest mistakes many people make when switching banks is not taking stock of the products and services they need before making the switch. Different banks have different banking products and the one that you are switching to may not have the same exact things that your old bank does. If you are unsure if the features are truly comparable, ask a bank representative to explain the products to you or to send you more information. Choose the bank that has the products and services that you want at the lowest price.
Research Each Of Your Options
Most cities have a number of different banking options available within a reasonable distance of a person’s home. Before choosing one for opening up your new bank account, do your research into each of the options you are considering. By conducting some research first, you can find out which ones have the best interest rates, the most services available, and the lowest fees. Some banks may even be offering incentives to people that open new bank accounts at their branches, so keep an eye out for bank advertisements sent to your home.
Check Out The Customer Service
Even though many banking services are automated or can be conducted online, you will still need to deal with the bank’s customer service representatives from time to time. You will want to make sure that the representatives are easy to reach and helpful when you need assistance. Choose an institution where the representatives answer questions easily and seem to know what they are talking about. This will be extremely useful if there is ever a problem with your account that needs to be corrected.
Make A Plan For Switching
Before making the leap, make a plan for switching your accounts to a new bank. Write down the account balances that need to be transferred, automatic payments that must be rescheduled, automatic deposits to change, and whether you will need new checks and/or debit cards. You may want to leave a little bit of money in the old accounts for a while until you can confirm that everything has been switched over to the new accounts correctly.