What to Look for When Switching Banks

At some point in your life you may find yourself in a situation when it’s time to change where you bank. Some of those reasons could be positive such as relocating for a better career opportunity. Other times it could be a negative factor such as having a misunderstanding with your current bank. How do you know when it’s time to stay or go? Finding the right mix of innovative product and technology combined with relationship building is the fundamental aspect in choosing the right bank.

It’s important to get to know your banker, but more importantly, find a banker that wants to get to know you. You’re the CEO of your life and you’re hiring a bank to help manage your financial needs. Would you hire the first person that walks through the door just because they lived down the street? Hold an interview process, make sure the banker you are talking to has your best interests in mind. Is the banker sincere when asking about your current or future needs? Do they offer you a comprehensive plan of maximizing your wealth, leveraging your credit, and minimizing costs? Are they asking about your needs at all? Too many times people choose the closest bank to them for convenience instead of completing a thorough inquiry of a banker that will provide guidance in an ever-changing financial landscape.

Being the CEO of your life keeps you extremely busy, which can make it difficult to take time out of your day to visit your local banking center. Ask your banker what tools are in place to help you manage your daily finances outside of the bank. Every bank should offer online banking, but how useful is it? Community Banks of Colorado knows you’re a person on the go, which is why they offer the latest and greatest in mobile banking technology. Securely access your accounts through Touch ID on your iPhone 5S or newer device. Make a deposit into your account by simply snapping a photograph of your check from anywhere you have cell phone service. Enrolling in online estatements allows you to conveniently store your bank statements for up to seven years. There’s even an entire department of the bank dedicated to helping small business owners conduct their daily tasks without ever needing to step foot into a banking center.

Even the busiest of people need direct communication with a banker now and then. Pressing option 4, then option 2, then option 6—oh, wait—press 9 to get back to the main menu does not constitute direct communication. Community Banks of Colorado makes sure to provide you with the direct line to the banking center which allows you to have instant access to a live person. No re-routing calls or connecting you to someone five states away. Your time is important and respected as such.

Gone are the days of free toaster ovens for every new account you open. Promotional offers are great, but are typically for a limited time. Try to find a bank that will reward not only new clients, but existing clients as well. After all, soon you, too, will be an existing client after you switch banks. Community Banks of Colorado has an excellent cash back program called My Rewards. My Rewards is a free service that provides you with personalized offers for purchases you make every day with your debit card. After you complete your qualifying purchase, your rewards will automatically be deposited into your checking account on a monthly basis.

As you interview different banks you will notice similar products being provided. The key to finding the right bank for you truly lies within finding the right balance of innovative product and outstanding customer service. Find the banker willing to go the extra mile for you. Find the banker that keeps open lines of communication and provides you solutions to needs you may not have known existed. Find the bank that is the right hire for the job.

– Chris Rymes, Business Banking Center Manager

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