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Find Your Financial Match: Tips for Choosing the Right Bank

Finding a Trusted Advisor: Tips for Choosing the Right Bank

Have you ever found yourself frustrated with banking fees and low-interest rates? Or felt like you didn’t have a good relationship with your bank?

Maybe you’re looking for a bank with values that align with yours or one that offers rewards for your loyalty. Whatever your reasons, finding the right bank can make a big difference in your financial wellbeing.

This article will walk you through the process of finding a new bank, with tips on researching banks and choosing the right one for you. Whether you’re starting from scratch or looking to switch things up, follow these steps to find a trusted advisor that will help you reach your financial goals.

Reasons for Looking for a New Bank

The first step in finding a new bank is to identify why you’re looking in the first place. Here are a few common reasons people look for a new bank:

Fees: Are you being charged more than you feel is reasonable for your banking services?

Interest: Are you earning less interest than you would like on your savings accounts? Rewards: Do you want a bank that offers rewards for your loyalty or spending habits?

Convenience: Do you need a bank with more branches or ATMs in your area? Customer service: Have you had negative experiences with your bank’s customer service?

Researching Banks in Your Area (and Beyond)

Once you’ve identified why you’re looking for a new bank, it’s time to start researching your options. Here are some ways to start:

Local banks: Start by looking at banks in your area.

Visit their websites or stop by their branches to get a feel for the services they offer. National banks: National banks often offer perks like wider ATM networks and online banking options.

Online-only banks: If you’re comfortable with online banking, online-only banks may offer higher interest rates and lower fees. Best Banks of 2023: Check out lists of the best banks, like the ones published by Forbes or US News & World Report.

Reading Reviews and Asking Family and Friends

Once you’ve compiled a list of possible banks, start reading reviews online to get an idea of other customers’ experiences. You can also ask family and friends if they have any recommendations.

Keep in mind that everyone’s banking needs are different, so take recommendations with a grain of salt.

Visiting the Banks Websites

Visit the websites of the banks you’re considering to get a better understanding of their products and services. Look for information on types of accounts, online banking, and in-person banking.

Pay attention to the website interface and whether it’s user-friendly. Products, Services, and Benefits You Want

As you’re researching, make a list of the products, services, and benefits you’re looking for in a bank.

Do you need a checking account with low minimum balance requirements? Does an app with customizable alerts appeal to you?

Are you looking for a rewards program or debit card perks? Make a note of the things that matter to you most.

Contacting the Bank

If you have questions about a bank’s policies, fees, or customer support, reach out to them directly. This can be a good way to get a better feel for their level of customer service and to see if they’re a good fit for you.

Some good questions to ask include:

– What are your policies on overdraft fees? – What is the minimum balance for each type of account?

– What are the fees for outgoing wire transfers? – Do you offer online or mobile banking options?

– What sets your bank apart from others?

Trusted Advisor Relationship

One of the benefits of having a bank is building a trusted advisor relationship with your banker. This relationship can help you communicate more effectively and make better decisions when it comes to your finances.

Look for a bank that provides that kind of a relationship, that shows interest in your goals and needs.

Bank Structure

Banks can differ in terms of ownership structure. There are publicly-owned banks whose stocks are on the market and profit-sharing models are set up for their shareholders.

Privately-owned banks are owned and run by a handful of people, whereas customer-focused banks called mutual banks, have a customer-centric approach.

Aligning with Your Values

Many banks have begun to offer value-based investment options that align with your personal and social values. Also, some banks invest in local businesses, affordable housing, and renewable energy projects.

Look for a bank whose values align with yours.


Depending on your needs, you might prefer a bank with branches and ATMs nearby, or you might want mobile banking with no geographical restrictions.


Finding a new bank can be an overwhelming process, but taking the time to do your research and identify what you need can help you find a trusted advisor that will meet your financial needs. Use the tips in this article to guide you in your search, and don’t be afraid to ask questions or visit multiple banks before making a decision.

Remember, the right bank can make a big difference in your financial wellbeing. In conclusion, finding a trusted advisor in a bank is essential for your financial wellbeing.

To find the right bank, identify your needs and research local, national, and online-only banks. Reading reviews and asking family and friends for recommendations is also helpful.

When visiting a bank’s website or branch, pay attention to the services, products, benefits, and customer service. Factors such as the bank structure, alignment with your values, and locality are also significant.

Building a trusted advisor relationship with your banker can help you make better financial decisions. Ultimately, choosing the right bank can change your financial life for the better.

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