If you’re like most people, you choose to keep your money in some kind of financial institution, be it a bank, credit union, or something similar. But since not all financial institutions are created equal and different people have different financial needs, it’s important that you’re able to find a financial institution that meets your specific needs in the way that you want.

To help you in doing this, here are three tips for picking a financial institution to bank with.

The Locations Of Physical Branches

While a lot of your banking can be done online, there are still reasons why it’s important that you have access to a physical branch for the financial institution that you choose to bank with.

According to Amanda Dixon, a contributor to Bankrate.com, most consumers think that it’s important that they at least have an ATM close to where they live or work so they can easily withdraw cash without any fees associated. Additionally, some people find it more convenient to speak with an actual person when they have financial needs that they need assistance with. Although people of older generations tend to want an accessible physical branch more than those of younger generations, having easy access to your money is something that everyone can understand and get behind.

Perks For Specific Account Types

One of the main reasons why someone might pick one financial institution over another is because they have better perks for the specific type of account that they’re in need of. According to Melissa Lambarena, a contributor to NerdWallet.com, this could include things like savings accounts, checking accounts, cash management accounts, CDs, money market accounts, and more. 

Depending on which type of account you’re looking for, the perks that you’ll want to find in an account will vary. So before you settle on one, make sure you’ve comparison shopped for the best perks for the type of account you’re wanting.

Consider The Bank’s Security

In order to feel secure in the bank or other financial institution in which you’re housing your money, you’re going to want to ensure that the security of your institution is top-notch.

According to Rebecca Lake, part of this security includes having your money protected in the event that the institution you’re using fails. To have this protection, you’ll want to make sure that the institution you bank with is FDIC insured. And along with this, you’ll also want to make sure that your financial institution takes the necessary precautions to protect your money from online threats, hacks, and fraud.

If you’re needing to find a new financial institution to bank with, consider using the tips mentioned above to help you pick the right match for your banking needs.

By Eddy

Eddy is the editorial columnist in Business Fundas, and oversees partner relationships. He posts articles of partners on various topics related to strategy, marketing, supply chain, technology management, social media, e-business, finance, economics and operations management. The articles posted are copyrighted under a Creative Commons unported license 4.0. To contact him, please direct your emails to [email protected].