Consumers know the importance of their personal banking relationship. It is important to have a relationship with a bank that you can feel comfortable with and rely on. If you want to find the right bank account for you then you need to make sure that you are aware of some of the different factors that will have an effect on your banking performance.
The 10 factors that are important to take into consideration when choosing a personal banking relationship are:
1. The service offerings that the bank has. It is important to choose a bank with services that fit your needs and enable you to enjoy variety of services. It is best to make sure that the various service offerings are suited to your personality, as different personalities will have different banking needs.
2. The availability of branches. It is important that the bank has convenient and accessible branches so that you can access your account without too much of hassle. It is best to go for a large regional or national bank that has offices spread throughout almost all areas.
3. Number and quality of branches. branches make a difference between a personal banking relationship and a business relationship. If your banking needs are mainly for you to access via ATM, then you will need branch that is close to you. Otherwise, it is better to be satisfied with easy-to- accessed information such variable overdraft and online banking. From your point of view, the location should never be a deal-breaker as this will determine whether your banking performance is satisfactory or not.
4. unparalleled ATM network. This is very important for a personal banking relationship, especially when it involves a large number ofun defeated ATM machines. Banks that have a solid ATM network are able to serve customers without any problems. However, happenentially some banks are known for having poor ATMs or ATMs that are extremely inconvenient to clients. These banks will obviously attract customers for a certain period of time, but customers might want to choose a bank that will make them stay with them.
5. Cheque book options. If you want to have access to cash but you do not want to carry a cheque book, then you should check whether your bank provides this facility. Most banks do not provide this service, but there are some that do, so it is important to find out whether they do or not, so that you have an option. This type of facility is convenient, because it is abolished by cheque books, so you will not have to worry about losing your cash.
6. Automatic teller machines (ATM). If you want to access your account through an ATM, it will be best to check whether them might be available in your region. In many countries, this is a common service, and therefore, most banks should have ATMs located in there. The simplest way to find out is to call the bank and ask the teller how it works - make sure that you have an ATM in your area before you call them.
7. Checkbook and debit card options.
It is important that you have access to checkbook, debit card or deposit and standing order facility in your bank. When you withdraw money, it is best to know your available funds, immediately or at specified delayed intervals. Access to them through ATMs or phone is the safest. Banks sometimes display tell everyone what the current balances of the account are to ensure that it is obvious to make changes.
8. Convenience and fees. Certain banks charge for using ATMs. There are also associated fees for using cheque books or internet banking. The fees are related to the transaction method that is done.
For example, for a cash advance transaction, the fee is higher than for a normal transaction. However, for a transaction that requires an overdraft cheque, the fee is small.