You know that it’s a good idea to ask utility providers for better deals once or twice a year. But did you know that you can apply the same principle to be sure you’re getting the best deal at your bank?
If, like me, you still use a brick-and-mortar bank (or credit union), ask your teller to point out any improvements that could be made to your accounts. Every few months, research:
- Better interest rates — Is there a similar account that will give you a better return?
- Lower fees — It’s a shame to throw money away on service charges and other fees. Ask about free checking.
- Automation — Does the bank have a new web site? Do they now offer free billpay? Can they help you set up a direct deposit of your paycheck?
- Special offers — Is the bank running any promotions?
Banks often introduce new products and services to meet customer demand. They’re perfectly content, however, to let you keep your old low-interest, high-fee accounts. You need to take the initiative to ask. Pay attention to mailers and to signage in the lobby. Most of all: ask your teller to recommend better deals. Keep your bank accounts optimized!
GRS is committed to helping our readers save and achieve their financial goals. Savings interest rates may be low, but that is all the more reason to shop for the best rate. Find the highest savings interest rates and CD rates from Synchrony Bank, Ally Bank, GE Capital Bank, and more.