Choosing a Bank Account
When choosing a bank account, make sure to read the fine print. There might be a number of things that could surprise you in terms of bank charges and services.
You may find it useful to consider:
- Interest on your account balance, this will increase your savings.
- Monthly minimum balance requirement. You may be charged if you fail to keep the minimum amount stipulated in your account.
- Availability and access to ATMs and branches. Also check if there are any charges if you use another bank’s ATM.
- Does the bank offer a free phone banking support service?
- Can cash and cheques be easily deposited? How and where?
- What other services are offered and how they are charged?
- Will you have round the clock access to your account via phone banking or your bank’s ATM network?