Seven Little Known Reasons Why You Definitely Should Compare Banks!
Seven Little Known Reasons Why You Definitely Should Compare Banks!
Ever heard it said that their are basically two types of consumers? It’s true. One (sadly) just accepts whatever the first business they interact with as the only viable choice. And the other does the proper due diligence. Entrepreneur when it comes business, which one are you? Do you (or “how”) often do you compare banks?
The following list (which) in actuality is nothing more than a combination of questions and proactive suggestions, can definitely help your current and future banking activities, far more profitable and less stressful! guaranteed!
Seven Little Known And Rarely Revealed Reasons Why You Definitely Should Compare Banks!
Let the following short stimulate (if nothing else) further investigation on your part!
1.) Little known reason # one: Entrepreneur, before you ever sign on the dotted line for a bank issued credit card, find out (ask!), if it has something usually referred to as a “Universal default clause.” The ultimate insiders also like to affectionately refer to it as the “ultimate poison clause in credit cards.”
Here’s basically the way this little hummer works, this not so obvious clause legally gives your banker the right to look through all of your other credit accounts, and if by chance they discover that you’re paying late on another credit card. Guess what? They’ll take the liberty of raising you rate asap!
2.) Little known reason # two: The next thing you need to do is find out (if) or “how” the local bank you ultimately decide to do business with can help you stop paying any totally unnecessary (semi hidden) fees?
Ah yes, the true lifeblood of any reputable banking institution! And yours my friend is no different!
3.) Little known reason # three: If you are or plan on using your banks ATM card for debit transactions, then entrepreneur please be sure you ask “what” type of fraud protection, they offer in the event your card is stolen! And make you you get the right kind, and that it fits your current budget! Again, it definitely pays to compare!
4.) Little known reason # four: Ask “what” type of if any programs and or advice do they have (that’s proven) to help you reduce your overall debt!
For ex: if you’re making mortgage payments directly to them, find out if it makes sense to participate in some type of principal payment mortgage reduction program(s.) Or bi-weekly mortgage reduction programs etc.
5.) Little known reason # five: Entrepreneur, before you sign any and all banking documents, find out “ask” what’s in the fine print that you may want or need to know about. Of course all banks have to follow the letter of the law! but it’s ‘how” they follow it! So you’d better ask!
6.) Little known reason # six: You also definitely need to know is there an type of penalty (aka) fee for an idle checking or savings account? temporarily parking your money may seem like a good idea, but believe it or not, if your money sits there idle too long, your bank may charge you with an inactivity fee! Who would have guessed!
7.) Little known reason # seven: And of course it definitely pays to “know” the policy regarding the availability of funds! ‘how” soon after you deposit your money into your account, can you withdraw it?
Be it business or personal use! without a doubt, you will find that these extremely crucial answers, vary from institution to institution, which is “why’ entrepreneur, it ‘s definitely in your best interest to compare banks! don’t you agree?
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