Out of the many banks to do business with, do you already know which of them you can find the courage to bank your hard-earned money? This is not the easiest to do, especially since money plays a huge role in anyone’s life and is, hence, one wrong move, you might be putting the money you have earned through hard labor, and as well your future, at risk.
One of the things you can do when looking for a bank is to ask questions. Some think that asking questions is unnecessary as all banks follow the same protocol. Unfortunately, that is not the best thing to assume if you want to secure your finances.
As long as your questions are relevant to the bank’s service, there is no reason to hold back. To provide you with the relevant questions to ask, read below:
How do you deal with fraud?
Fraud can happen to anyone at any time; it can happen online, in an ATM facility, on a credit card terminal, etc. To give you peace of mind, it is a must that you know the bank’s protocol in terms of fraud.
As a client or a soon-to-be client, you have the right to know about the bank’s protocol for handling fraud. Ask for the bank’s action plan, and make sure that all your questions about it are raised and answered.
What are your mortgage/loan terms?
If you are getting a mortgage or any type of loan, you need to know everything. Terms of banks, same as with interest rates, are different, and you have to know about them before doing business with any bank.
Some of the questions to ask about their mortgage/loans are:
- The terms they offer
- Their requirements
- The interest rates
- Other fees, including penalties
Do you have enough branches which I can do business with?
If you are in a physical bank, you need to ask the bank for other branches you can do banking transactions. You need to ask for a list of branches they have, as well as additional fees in case you will bank outside the branch where you open an account.
The more branches they have in the neighborhood, the better and more convenient for you.
Can I use your services when I am outside the country?
So, you opened an account in Farmers Bank Twin Falls. Can you use their services outside Twin Falls or the country? You have to know whether you can continue banking with them even if you are not in the city where you opened the account.
A bank that offers online banking can give you more flexibility in terms of banking. This is something you have to consider if you are assessing that you might be moving to a different city in the future or you are always outside the city, may it be for business or leisure.