by. Simon Zhen
Whether the reason was an unexpected fee, bad customer service experience, or change in financial habits, the decision to switch banks should not be done in a hurry. Since you are looking for an institution that will be responsible for holding your hard-earned money, make sure you take the proper steps to ensure that your banking relationship is beneficial to your personal finances.
Before you think about the banks worthy of your consideration, know what accounts you want to open. You’ll likely find that different banks offer the most attractive options for different types of accounts.
For instance, Wells Fargo’s 9,000 branches and 12,000 ATMs may be appealing to someone who is seeking a checking account or an investment account (to speak with advisors). However, Wells Fargo’s savings rates don’t offer much of a return — an online bank would be the better choice for a savings account.
Once you have a good idea of what account you want, you can begin incorporating other factors into your decision.
Location, location, location
Despite the ability to conduct most banking chores through online or mobile banking, branches and ATM locations remain sought-after channels of accessing money and interacting with bank personnel.continue reading »