When Breaking up With Your Bank Makes Sense

After 100 years in business, we’re very familiar with all things banking. This means we’ve listened and learned from our clients regarding what they want and need in their financial services provider. As such, our multi-generational bank has continued to evolve and innovate in order to become the bank of choice for both consumers and businesses alike. We strive to offer our clients banking when they want, how they want, and where they want.

Often, parents open a checking or savings account for their son or daughter at their bank or financial institution when they’re young simply out of convenience. The same thing often occurs with other services, including insurance, legal, and medical providers. According to a Bankrate survey*, the average adult stays with their primary checking account for 14.3 years at their current bank or credit union.

Although using your old account may be acceptable for a while, as a person starts or changes jobs, graduates from high school or college, purchases a home or condo, gets married, moves, or starts a family, staying at a bank or service provider from years ago may not still make sense. A bank should grow and evolve with clients along their financial journey. What made sense a decade ago, may not make sense for your financial needs now.

If someone finds that their bank just isn’t offering them the products and services they want and need, or they feel they could benefit from trying out another banking provider, they may want to consider shopping around.

Here are 10 reasons to consider parting ways with your bank:

  1. You can’t open an account easily.
  2. They’re too small and don’t offer the latest technology and services.
  3. They’re too big and treat you like a number.
  4. They don’t offer in-person, online, mobile, and convenient Interactive Teller Machines (ITMs).
  5. You still have the same checking account you did 14 years ago and haven’t shopped around.
  6. They don’t update their technology.
  7. They don’t offer comprehensive services, like long-term financial planning and mortgage lending.
  8. You can only bank between the hours of 9:00 am – 5:00 pm.
  9. You were shopping around and decided to open a checking account with First Bank.
  10. They aren’t First Bank.

If you’re ready to see what checking accounts First Bank, a bank you already know and trust, can offer you, check out First Bank’s Checking Account options.

*Source: Survey: While checking fees vary wildly by race and age, Americans stay loyal to their bankswww.bankrate.com/banking/best-banks-consumer-survey-2020/