Choosing the Right Bank for Your Needs Part 1

Recent news has shown that Wells Fargo is being sued by the city of Los Angeles over alleged fraud issues. This had the team at Michael Richards Consulting thinking that it’s important to know what you are doing before you choose a bank. Whether you are interested in going with a large bank or would prefer to keep your money in a simple credit union, you should cover these issues before you give them all of your money:

Monthly Fees – Is there a monthly fee attached to using your bank account? Then maybe you should consider finding a different bank. There are many different options available, so you should speak to the representative before making a decision.

Transaction Limits – You should be able to make as many transactions as you want when you have a bank account. Having fees and restriction placed on your checking account means that the bank doesn’t see you as an individual – it just sees you as another dollar sign.

Interest Rates – If you are trying to open a savings account, you should take a look at the interest rates offered. When you aren’t making a good return on money in your savings account, then you aren’t doing the right thing with your money.

Stay tuned for part two of our blogs about choosing the right bank for your needs. If you are having bank problems or are working for a bank and need assistance, Michael F. Richards is available to work with you are a litigation support specialist.