Choosing a Checking Account that Works for You
Today there are more banks available to us than ever before. There are national, regional, local and even electronic only banks, all of which offer a variety of personal checking and savings accounts. So, what’s the best choice? It’s easy.
Every person will have different requirements for their lifestyle. It’s important that you choose a checking account that is in synch with what you need. Your relationship with your bank may begin with a checking account, but it can often expand into holding your mortgage or auto loan, planning for retirement and managing your investments, or even helping you save for your kids’ or grand kids’ college tuition.
For the vast majority of us, we just want our lives made easier. No one wakes up in the morning excited to run to the bank before their first cup of coffee, but having a good relationship with your bank can make your life much easier.
Here are some tips to help you choose a bank that makes your life easier:
1. Bank where you are most comfortable—in your own backyard.
With renewed focus on supporting local businesses, people are choosing to develop relationships with everyone from their local farmer to their local shop keeper. Why should your bank be any different?
Large box banks are imposing and impersonal. Choose a bank where decisions are made locally; where you are recognized and appreciated every time you visit. Knowing your banking staff personally will allow you to not only have a more pleasant bank experience, but will also open a line of communication when you have questions about personal finances, financial planning or loans.
2. Avoid monthly maintenance fees.
Banking can be confusing, and so it’s not surprising that many Americans aren’t aware of all of the options available to them. For instance, not all checking accounts carry monthly maintenance fees. In fact, Republic Bank’s Easy Checking account doesn’t charge monthly maintenance fees at all. So you (not the bank) get to keep all of your hard earned money.
3. Forget those minimum balances.
If you’re paying a fee for a minimum balance, then congratulations, Daddy Warbucks…you must have a ridiculously high average balance in your checking account and receive a high interest yield. If you’re not Daddy Warbucks and you are paying a minimum balance, then something’s wrong. Minimum balances are a thing of the past; choose to make it a little easier on yourself.
4. Bank anytime, anywhere.
Banker’s hours used to mean a full day was coming into work about 10am and leaving for the golf course around 2pm. Today, our global world is working 24-7 and so do our banks. In the fast-paced modern world we need multiple access points to reach our money at any given time of day. Whether it’s in branch, online, through a tablet or mobile phone, you need a bank that allows you to review, manage and spend your money when you need it—no mater what time of day or night it is.
Your life is hard enough. It’s time to choose easy, and it’s just easier at Republic Bank.