You may have heard that November 5th has been declared “Bank Transfer Day”. Individuals all over the U.S. have come together to advocate for consumers to transfer their bank account to a smaller financial institution, community bank or internet bank. As an internet bank powered by a community bank we understand and hear the frustrations from our customers that have transferred over from the larger banks and credit unions. However we at airbanking don’t advise you to switch banks simply because of a specific date. Rather we challenge you to evaluate your bank’s service every day. Much like any other service or product you purchase, if you’re not happy or it doesn’t meet your needs, it’s time to start looking for something right.
No matter which bank you choose here are a few things to take into consideration when deciding which financial institution to switch to, or to open an account with. Simply ask these questions to start:
- What are the fees?
If you’re searching online look up the fee schedule or if your bank has branches, stop in and request a fee schedule. Don’t only look at the fees, but understand the fees that may come along with certain products or services. Don’t be afraid to ask an account representative for details and if the wording is vague don’t hesitate to ask for clarification or even scenarios of when a fee may be incurred. If the fees aren’t readily available online nor provided at the get-go I would reassess this bank…
- Where/How many ATMs are available?
Are there ATMs or are they in an ATM network where you can readily access your money. Look for a bank that is part of a large ATM network with access domestically in the U.S. and internationally. For example, we provide access to over 40,000 free ATMs.
- Does it fit your life style?
If you travel internationally quite a few times you may want to look for a credit card with no to little foreign transaction fees. For example, our VISA credit card has no foreign transactions fees.
- How accessible is your account information?
Nowadays with our busy lifestyles it’s important to look for a bank that can keep up with you on the go. Look to see if your bank has online capabilities that will allow you to check account balances, transfer funds, pay bills 24/7 and even from your mobile phone… like us!