Like most things today, banks now come in an array of sizes and flavors, each option offering its own brand of perks and amenities. From large international banks, to credit unions, to small local banks, choosing a bank involves a deep analysis of your needs. And not only your financial needs but also your lifestyle, schedule, and goals.
Technology has increased many of our banking options that you should factor when considering how to choose a bank that’s right for you. In fact, according to the Capgemini 2014 World Retail Banking Report, “A number of new non-bank competitors are taking advantage of digital technology to make improvements upon the traditional ways of delivering retail banking services.” So here are 15 important ways to figure out the best banks for you and your hard-earned money.
1. One-Stop Shopping
One of the first things that go into deciding how to choose a bank, is whether it is essential for you to take care of all your banking needs—mortgage, credit cards, home equity, and car loan, for example—in one place. If so, perhaps a larger institution is the right place for you. If you’re a no frills banker or you prefer diversifying your finances.
Read Related: 16 Reasons to Try Online Banking
