Partnering with the right bank is essential for both individuals and businesses. This is because being stuck in a relationship with the wrong bank can lead to you facing a variety of inconveniences and not getting the best possible financial services. If you have been with your current bank for a while and have recently begun to grow dissatisfied with their services, below are five signs that indicate it’s time you seek greener pastures at a different financial institution.
- You have no relationship manager.
A bank shouldn’t just be interested in taking your money. It should also be interested in keeping you happy at all times with easily accessible services. A bank that cares about your happiness will provide you a dedicated relationship manager that will be there for you anytime you require services from the bank. Having a relationship manager ensures you have a dedicated banker who is familiar with your business and knows how to take care of your needs just the way you prefer
- You have outgrown your bank.
When you got your first bank account, you probably simply needed a place to save your money. But now that you are older, engaging in more financial transactions, and expanding your horizons, you may need more than just a bank that serves as your piggy bank. You need a financial partner that can help you achieve a better life and better banking options possibly through customer friendly loans and investment options. If your bank is unable to satisfy your new or future needs as you grow, it is time to consider switching up
- Making too many sacrifices for the bank
Perhaps your current bank is too far from your current resident or place of work, or your time is constantly being wasted in long queues in the banking hall, or your bank takes too long in responding to requested for services. If the bank keeps asking you to sacrifice your convenience for them without reciprocating or making your sacrifice worthwhile, it’s time to start a relationship with a new and better bank.
- Your bank is behind the times.
It is the internet age and your bank has refused to evolve. You are still required to fill forms and perform transactions the old fashioned way when other banks offer easy to use bank apps that make life easier. If your bank is slow in evolving to keep up with the competition and provide you more customer friendly services, you will likely be better off taking your business to a more forward thinking bank
- They keep asking for more than you can give
Does your bank charge you exorbitantly for services? Are their transaction fees ridiculously high? Are their interest rates unfriendly? Are their loan terms too restrictive? If you have answered yes to any of these or have similar regrets, know that there are other banks out there that are willing to provide you better terms of service. So instead of locking yourself up in a no longer beneficial or dying relationship with your current bank, seek the satisfaction you crave in the services of a more modern and customer-oriented bank.
