Published On: Fri, Mar 22nd, 2019

Questions To Ask Banks in Syracuse NY Before Changing Over To Them

You have been a loyal customer to one bank for years. You have deposited all of your money in this bank and usually use their ATM services. You have even availed of their debit cards and business loans in the past. But lately, you’ve noticed that you have been paying high-interest rates and experienced poor customer service with this bank. The bank even started to charge you with other bank fees, which you have no idea how they’re being computed. Because of these mishaps, you’re considering to change a bank in Syracuse NY. You think that this is a better option compared to continually patronizing the services of your current bank.  

Save money on the move and invest it into something more fun photo/ Rudy and Peter Skitterians

Choosing a bank is an important decision. You’ll basically entrust your hard-earned money to a business, which is why you should be careful about which bank you choose. To help you determine which bank in Syracuse NY fits your needs, make sure to ask them the following questions first:

  1.    Is there a balance needed to avoid fees?

Most banks will require a maintaining balance for a customer’s checking account so they won’t pay for any monthly service fees. Aside from using other sources such as empowerfcu.com in deciding, you should ask this question before switching to a bank in Syracuse NY. You should be well-informed of the fees that the bank would possibly require from you. Determine the amount of money you’re going to pay if you close an account, if you bounce a check or if you want to stop payment on a check. It’s vital that you know the continuing requirements of the bank, and not just its upfront price when opening a new account.

  1.    Do you charge for out-of-network ATMs?

ATMs are very convenient because they can provide you money 24/7. Most customers would also consider the number of ATMs a bank has before switching to a new one. But aside from number, you should also keep in mind that most banks will charge you whenever you withdraw money outside of their ATM network. Inquire about this fee from the bank you’re considering. If you’re usually traveling, paying for high ATM charges might not be suitable for you.

  1.    How much interest should I pay on deposit accounts?

Most banks offer low-interest rates, which is why most customers would skip this question. If you don’t want to fall into financial turmoil, don’t make the same mistake. Interest rates might be low, but these are often changing. Before switching to a Syracuse NY bank, ask how often their interest rates change and whether there is any minimum balance to earn interest rates. If possible, also inquire about the factors that can affect the bank’s interest rates.

  1.    Do you offer mobile banking and online bills payment?

With the advent of technology, bank transactions are easier and faster. You can basically send and receive money wherever you are as long as you have a stable internet connection. If you want to enjoy such benefit, make sure you’re choosing a bank that offers mobile banking and online bills payment. While you’re at it, see to it that the bank has safe apps for its customers. Although technology has made everyone’s lives easier, using it regularly can increase the risk of identity theft and fraud.

  1.    Do you offer rewards programs?

When you open an account with a particular bank, a rewards program can be a good motivation to become a good payer. Everyone wants to be rewarded when they’re able to settle their balance on time, right? Aside from covering the basics of bank fees and ATM charges, don’t forget to ask if the Syracuse bank has any rewards programs for customers. Usually, banks offer rewards to debit and credit card users, while others offer this to credit card users only. Determining whether or not you’re qualified for a rewards program is crucial as it can help you get the most out of your bank transactions.

  1.    How can I reach your customer service?

There will be instances when you’ll have problems with your bank account. Your bank might charge you twice for a single withdrawal, or you might have issues accessing your account online. When any of these happen, you need the help of the bank’s customer service. You need a professional’s help because money is a serious matter. Inquire about the bank’s customer service and how you can possibly reach them. Do they offer a 24/7 hotline or are you required to visit the bank for any problems personally? Can they be contracted through phone or email? The better option will always be the most convenient and effective customer service.  

Be Careful What You Choose

There are a lot of banks operating today. While some of these banks have been operating for years, others are still new in the industry. As one way to narrow down your search, ask the right questions. Exert time and effort in choosing a bank in Syracuse NY so switching to one will be worth it!

Author: Sarah Morris

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