You’ve been banking with the same institution for years but lately you’ve been wondering if it still fits your lifestyle and needs. Maybe they closed the branch near your house or started charging monthly fees.

Or perhaps you’ve changed—your income and spending habits aren’t what they used to be or you need some new services to make managing your money easier. Whatever the reason, it could be time to find a new bank. But with so many options to choose from these days, how do you select the right one?

Don’t worry, we’re here to walk you through the process step-by-step. In this article, we’ll discuss how to evaluate your own banking preferences and habits. We’ll also go over the key features of different types of banks, from large national chains to online-only options.

And we’ll give you tips for getting the best deals on services like checking accounts, savings accounts, loans, and more. So read on to learn everything you need to find the perfect bank to meet your unique needs!

Determine Your Banking Needs

To find a bank that fits your lifestyle, you first need to evaluate how you currently manage your money and what’s important to you. Maybe you’re looking for a bank with a physical location so you can talk to someone in person. Or perhaps an online-only bank is appealing since you prefer to manage accounts digitally.

Regular Transactions

How often do you deposit cash or need to speak with a teller? If it’s frequently, choose a bank with many local ATMs and branches. For infrequent in-person needs, an online bank may suit you fine with lower fees.

Account Types

Do you want a simple checking and savings account? Or are you looking for investment and wealth management services as well? Make sure any bank you consider offers the account types and services you need.

Fees

Pay attention to monthly maintenance fees, overdraft charges, and ATM fees. If low or no fees are important, some online banks and credit unions offer fee-free options. But if you want in-person service, you may have to pay slightly higher fees.

Interest Rates

If earning a competitive interest rate on savings and CDs matters to you, compare rates across different banks. Online banks sometimes offer higher rates, while traditional banks may have lower rates.

By evaluating how you currently bank and determining what features are priorities for you, you can find a bank that suits your unique needs and preferred banking style. The bank you choose should make managing your money convenient and, ideally, help your nest egg grow through competitive interest rates. Why settle for less?

Compare Account Types and Features Across Banks

When choosing a bank, you’ll want to compare the different account types offered to find the right fit for your needs.

Checking Accounts

For your everyday spending and bill payments, a checking account is essential. Some banks offer accounts with no monthly fees if you meet certain balance requirements or direct deposit stipulations. Look for accounts with low or no ATM fees, overdraft protection, and mobile check deposit.

Savings Accounts

A good savings account can help you earn interest on money you put aside for the future. Compare interest rates and minimum balance requirements to find an account that will let your money grow as much as possible. Some banks also offer high-yield savings accounts for larger balances.

CDs and Money Market Accounts

If you have funds you don’t need immediate access too, a certificate of deposit (CD) or money market account can help maximize your returns. CDs typically have fixed terms and rates, while money market accounts offer more flexibility. Both are very low risk ways to earn higher interest than a standard savings account.

Additional Services

Consider what other services are important to you, like investment and retirement planning, credit cards, loans, or online and mobile banking tools. Some smaller banks focus on competitive rates and personal service, while larger banks provide more comprehensive financial services but may charge more fees.

With some research into the options available at different banks, you’ll find the right mix of account types, rates, and services for your needs. The perfect bank for your lifestyle and budget is out there – you just have to go find it!

Evaluate Each Bank’s Accessibility and Convenience

These days, most of us lead busy lives and value convenience. Choosing a bank with locations and services that fit your needs can save time and frustration.

Branch Locations and Hours

Do you prefer doing your banking in person or online? If visiting a branch is important to you, consider each bank’s locations and hours. Some have numerous branches across the country with extended evening and weekend hours. Others primarily operate digitally with limited branch access. Think about which options match how and when you do most of your banking.

ATM Access

ATM access is another key factor, especially if you frequently need to deposit or withdraw cash. Look for banks that offer a large free ATM network, reimburse fees charged by other ATMs, or waive ATM fees altogether. Some banks also provide additional perks like free access to ATMs internationally or at popular locations like bars, restaurants and retailers.

Mobile and Online Banking

For many today, mobile and online banking are must-haves. See what digital services each bank provides, like bill pay, check deposit, money transfer options and budgeting tools. Some banks offer the latest features, like voice-activated virtual assistants or touch ID login. Look for a bank with an intuitive website and highly-rated mobile app to handle most of your banking on-the-go.

Additional Services

Think about additional services that would benefit you, e.g. safe deposit boxes, investment and retirement planning, insurance products or benefits for students or military members. Some banks provide one-stop shopping for all your financial needs. Others focus primarily on essential checking and savings accounts. Choose a bank that offers the combination of services that best fits your needs.

Evaluating each bank’s accessibility, convenience and services will help ensure you find the perfect match for your busy lifestyle. Take time to consider your priorities and options to choose a bank that makes your financial life easier.

Research Each Bank’s Customer Service Reputation

When selecting a bank, researching each bank’s customer service reputation is crucial. After all, you want a bank that will be there for you if any issues arise or you have questions about your accounts or services.

Check Online Reviews

Head to sites like Yelp, Google Reviews and Consumer Affairs to read reviews from actual customers. Look for banks with mostly positive reviews mentioning helpful staff, quick resolution of issues and overall good experiences. If you see a lot of complaints about long wait times, unknowledgeable service staff or difficulties resolving problems, you may want to avoid that bank.

Ask About Resolution Procedures

Don’t be afraid to call banks you’re interested in and speak to a customer service representative. Ask them about their process for resolving customer issues and complaints. An ideal bank will have dedicated staff for addressing issues, a clear escalation process and the ability to resolve most problems within a reasonable timeframe.

Consider the Branch Experience

If visiting a local branch is important to you, schedule a time to visit banks on your shortlist. Assess how long the wait times are, how courteous and knowledgeable the staff seem and how willing they are to answer your questions. An inviting branch with friendly, helpful employees is a good indication the bank values customer service.

Check the Fine Print

Carefully read through the terms and conditions for any accounts or services you’re interested in. Look for any unfair fees, limited service hours or restrictive policies that could become an issue down the road. Reputable banks with a commitment to customer service will be transparent in their fees and policies.

Doing thorough research on customer service before choosing a bank can help ensure you end up with an institution that prioritizes keeping you happy. After all, life happens – and when it does, you want a bank that will be there to support you each step of the way.

Choosing the Right Bank for You

Consider Your Banking Needs

Think about how you currently use banking services and what you may need in the future. Do you mostly do in-person banking, use ATMs frequently, or prefer online and mobile banking? The bank you choose should offer services that match your needs. For example, if you travel a lot, look for a bank with many fee-free ATM options and accounts you can easily access while abroad.

Compare Fees and Rates

One of the biggest differences between banks are the fees they charge and interest rates they offer. Compare fees for ATM use, overdrafts, monthly service charges, and more. Also compare rates for savings accounts, CDs, and loans. Some banks offer accounts with no or low fees, while others have higher fees but may offer better interest rates. Choose what’s most important to you.

Examine Account Options

Look at the types of accounts each bank offers, like checking, savings, money market, CDs, IRAs, credit cards, and loans. See which options match what you’re looking for. Some banks specialize in certain account types, like high-yield savings or rewards credit cards. Make sure any bank you consider offers the key accounts you need.

Visit Branches (If Needed)

If in-person banking is important to you, consider each bank’s branch locations and hours. See if they have branches in convenient places for you, like near your home or work. Also think about what other services are offered at their branches. Some banks are starting to offer more self-service options at branches while others still have tellers and private bankers.

Choosing a bank is an important financial decision. By evaluating your needs, comparing key factors like fees and rates, examining account options, and possibly visiting local branches, you can find a bank that’s the perfect fit for your lifestyle and needs. The time you spend researching and comparing banks upfront will give you the peace of mind that you have the right bank for your situation.

Conclusion

At the end of the day, choosing a bank is all about finding one that fits your lifestyle. Take the time to research the options, look at the fees, branch locations, digital tools, and account options. Think about your own money habits – do you need robust mobile apps or prefer in-person service?

How often will you bank in person versus online? The right pick for you may not be the best for your friends. But now you’re armed with insider tips to select a bank tailored to your needs. Approach the process thoughtfully and you’ll find the perfect match. Then you can feel confident your finances are in good hands as you bank on your terms.