Choosing a bank can be one of the hardest parts about managing your finances. You need to perform countless hours of research, compare innumerable features, and try to ascertain the fine details of bank services hidden within confusing contracts. That’s why choosing to look at the features, which should be designed to draw you to a bank, is one of the better ways to search. When it comes to these features, there are some must-have banking bonuses that can affect how quickly your saved money accrues interest, fees, banking convenience, security, and more.

No or Few Fees
When you opt for a banking account, the idea is that you will deposit a certain amount of money that accrues interest. This is a win-win situation for both you and the bank you choose, as you gain money, while the bank gains a small amount to invest.
Successful banks will often offer banking with no, or very few fees. This allows your bank account to accumulate even more money than you would if there were small fees draining it. Keep in mind that few bank accounts are free without certain conditions. That’s why looking for those conditions is important, instead of just searching for the word “free”.

Opening Bonuses
It’s nice to open a banking account with a reliable provider, but it’s even nicer to receive money when you do so. Certain banks give bonuses depending upon the amount of money you deposit within a new account. It’s possible to obtain anywhere from a $25 to $500 bonus, though it is worth noting that larger bonuses typically require a significantly larger deposit.

No Minimum Balance Required
Minimum balances are designed to give the bank a certain amount of money to use. While this may seem like a minor requirement, it effectively forces you to choose between paying a fee, and having money that you cannot use. Bank accounts with no minimum balance are a must-have. They allow you to add more money to your bank account while being able to use your money as you see fit. If you can’t find a bank without a minimum deposit, then ensure that the minimum deposit is low. Some banks will have minimum deposits around $20, while others may require $1500 or more.

Superb Customer Service
While the ideal situation requires a hassle-free banking experience, seldom does this occur. Things like fraud, phishing, and identity theft can wreak havoc on your bank account. Unless you can reliably contact customer service, this can pose an incredible danger to your finances. Ensure that your bank has superb customer service by looking at recommendations and reviews. They should be open 24 hours a day in some regard to ensure that any problems can be dealt with as they occur.

Customized Checks
There are certain times when having a check is something you want. They provide an easy way to note significant expenses, while promoting better management of the money you do have within your bank account. When you choose your bank, try to choose one that offers you more than just the standard options for checks. You’ll want a decent degree of customization to ensure that you can take advantage of the benefits that checks can bring to your banking experience. If they don’t, there are always places like Checks SuperStore where you can get cheap checks with more personalized options.

Free Online Banking
One of the most popular bonuses that most banks should have, is online banking. It allows you to track your finances, deposit and withdraw money, and do things like paying bills without the need to go to a physical location.

By searching for the above bonuses in a banking account, you’ll make your experience better while saving more money than you would otherwise. While few banks will have every one of the features listed above, they should have a majority of them. These bonuses tend to be offered by reliable banks that make a profit by serving their customers rather than taking their money through fees.

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Email:  General Information   |   Dr. Daniel de Roulet   |   Prof. David C. Pecoraro

Thank you!

Daniel & David

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Six Banking Bonuses to Look into When Choosing Your Own Bank