It is often found that we make decision hastily without considering the pros and cons. We do not analyze what we want and without considering other options, guidelines and criteria to base our decisions with. At times with we think a lot while making small decisions such as while it comes to our attire i.e. which color to buy , whether material is good or bad etc.
In-fact this attitude should be other way round i.e. when it comes to your important financial matters, you should be extra careful. For e.g. when we are considering the things that concerns the financial aspects of our lives. - financing, mortgage, insurance, investments and even choosing the bank. Bank is the place where we save, invest our money. Here is some guidelines that you should consider whenever you are investing the portion of your money:
- Location: location is always important factor to be considered while choosing your bank. If you have to make daily transaction, it is always feasible to look for bank nearest to your place.
- Accessibility of ATM bank: you should choose bank which has sufficient number of ATM machines are accessible to you.
- Telephone Banking: If you are one of those customer for whom it is not possible to go to bank during banking hours then you should always opt for telephone banking. Telephone banking is the service provided by bank which makes transaction on your behalf like transfer of money from your account to pay off your bills, checks the current balance, change or cancellation of your current codes. Through telephone banking you can make transaction anytime using 24*7 all year.
- Internet banking: If you are more internet savvy then you can always go for internet banking. Here also the same services that are provided by telephone banking are provided via internet media.
Above guidelines are for personal banking, but if you are a business person, and if you need a bank or banks for your small business, here are some other aspects and guidelines you should considered while choosing bank:
- It is necessary that bank should understand the nature of the business in which your are involved. Considering location is also one of the factors, but bank should understand the nature of your business.
- It is always good to make your terms clear before hand while choosing any bank. You terms should be in such a way that in your absence, your senior executive can make transactions. In this way problem concerning to business banking can be handled easily.
- Consider the competitiveness of the banks by checking how much they charge for every transaction you make.
- Aside from these, check also the competitiveness of the interests and other fees that come with their credit cards.
- Check the stipulations on balances for checking accounts that bear interests.
- Check if the banks you are considering are members of the FDIC - Federal Deposit Insurance Corporation and the Federal Reserve Bank and lastly,
- Look for banks that are capable of giving service that you and your business might need ahead of time.
Keep all these in mind when considering the right bank/banks and surely, you will never go wrong. Good luck!
0 comments:
Post a Comment