5 Areas to Evaluate Your Bank for Best Results

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Why did you choose your current bank?

Ever thought much about it. I think convenience plays a huge role in why I select one bank over another.

Fees are up there in importance.

My time with Capital One and their #BankingReimagined tour has me thinking about this more deeply.

Instead of considering a bank as a cut and dry place to house financial transactions, banks are moving in the direction of creating community. I love the power of community.

I ran across a few suggestions on what to look for in choosing your next bank.

Convenient access is a huge plus – whether online or in person.
We should not be paying fees.
ATM should be plentiful and hopefully fee-free or at least fee-reimbursable.
Mobile app access these days is a must.

It’s also probably best if your bank isn’t embroiled in some federal scandal. That would help.

Those are the must-haves. But, what about the intangibles? Is your bank a place where you can go for basic help? Is your bank intentional about creating spaces for you to plug in and recharge?

If you have plans for homeownership or refinancing in the future, does your bank offer low cost options or helpful programs (i.e. first-time home buyer programs)?

Talking with the great folks at Capital One has encouraged me to be a little more thoughtful about the places I choose to open accounts with in the future.

What are your long-term financial goals? Leave a comment on the new Midday Money Show voicemail. Call: (773) 893-0241

This episode is sponsored by:

Capital One

We talked about…

5 areas to compare when evaluating banks.
How to connect with the new Capital One Cafes. Where they are located.
Why the Capital One Cafes are starting and what you can hope to accomplish by visiting one.
Services that are open to everyone, not just Capital One Customers

Resources Featured:

Hidden Money Challenge
#BankingReimagined Tour
How to Choose Bank Account: 10 things to look for (Forbes)
Midday Money Show voicemail: Call (773) 893-0241

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