You’re looking to open a new bank account, but you’re not sure what bank to go with. Should you choose something small and local? What about a national bank? You didn’t even stop to think about credit unions. It doesn’t have to be such a hard choice. Here are some tips for picking the best banking option for you.
Location
Whether you’re looking for banking in Schiller Park or another area, location is something to keep in mind. If you plan on staying in the local area for a while, a smaller, local bank or credit union might be able to offer you more personalized service. However, if you’re moving within the next few years, you might want to choose a national bank with various locations so you don’t have to change banks again.
Look up where branches are located in your town. You need to visit a physical location at least a few times a month, and you don’t want it to be inconvenient to get to.
Services
What are you looking to do with your bank? If you just want a checking and savings account, that’s simple to find. However, if you want a credit card or loan with the bank, you should research the terms and rates various banks have on these services. If you know you want to get a loan or credit card sometime in the future but don’t know what terms you’re looking for, consider a bank with a lot of options. That way it can most likely do whatever you need.
Online Services
As the Internet takes on a larger role in life, it’s moving to the banking world as well. Online banking, along with having a physical location, is very helpful. If you’re travelling or just too busy to make it out to the bank, online banking can let you deposit checks and make transfers from your phone or computer. If that’s something you’re interested in, look up banks’ online services. Some small operations have limited online services, while bigger banks have more.