Although the opportunity should be as obvious as brushing your teeth, a number of people forget, or are not aware, that you can change your bank.
In 2012, only two out of ten had switched banks in the last five years, and the figure has not changed. The reason why we do not change bank is mainly because you are satisfied with your bank, but there is also a lot of ignorance regarding bank change. A bank swap can lead to a changed economy, and it can definitely be worth considering alternatives to the bank you have. By “being unfaithful” to your current bank, you can actually discover a big difference in your finances. Here are three reasons why a bank transfer might be to your advantage:
Banks have different prices
There can be a very large difference in prices at different banks. This may involve card fees, annual interest or brokerage on securities. By weighing prices in their comparison between banks, it may be easier to find the right bank for you, but it is important that you only look at the prices you will actually use. For example, do not include brokerage in your comparison unless you are trading in shares. It is also good to look at the interest rate on any savings account, and it can also be to your advantage if you actually talk to a banker to see what they have to offer you, as each savings is unique no matter which bank you choose.
Look at the services
All banks have a varied range of services. Some offer insurance, while others offer securities trading. Prior to a possible bank transfer, you should know which services you will be using for now – and in the future. If you have had the same bank for several years, you will be amazed at the range that is actually available from the different banks. Some of the services worth checking out are how the interest rate settles in your savings account, and what opportunities there are for borrowing money. This is also what mainly separates the banks, which we mentioned further up when we talked about prices.
What features are there?
What features do the various banks offer? And which one suits you best? Take, for example, login to the Internet bank. There is something nowadays at all banks, but how to log in can vary. It is also important to look at the user interface itself when logging in, as well as how it works with logging in via mobile phone. Which one offers the best login method is not a decision, it is a matter of taste – and that is why it is worth reviewing when comparing banks.