One of the first things that an adult decides as a financial decision, is which bank account to choose? This post is written with the intent that you maybe someone new in Canada looking for a bank account, or someone who is Canadian but want to see if another bank offers better options, than the one you have now, Eh?
So let me help you by providing you some great resources.
Aren’t all accounts the same?
Learning about money and understanding banking makes a person strong and feel in-control of finances. When you have worked so hard to earn that money, why trust someone else to make decisions on it? That is why, you should be informed on the various types of bank accounts that are offered today. And ‘No’ not all bank accounts are the same.
Some accounts offer you free unlimited transactions, while others offer no-fee credit card. As the banking industry grows, the services and products offered by a bank as also evolving.
Where to start?
If you are in Canada, use tools like the ‘Account Comparison Tool’ on www.canada.ca , to determine which bank account and its features work best for your relationship, or simply you. This website offers a wealth of information.
Also, this tool will give you a clear comparison of all bank accounts available and will help you make a logical decision.
What’s amazing about this tool is the interactive form that you fill out. It will give you suggestions as befitting to your needs.
Head over to www.canada.ca and type : Account Comparison Tool , in the search section to begin.
What to know before you start?
Have a clear idea on what you are looking for in a bank account. Make a list of your preferences. Some people want an account with unlimited transactions, while some want an account with free add-on. Select these options when building your search.
Once you have reviewed the available options, you will be better positioned to decide where to open your account.
Proceed to contact the bank of your choices. Always .. let me repeat.. always ask the bank what more can they offer you? Telling a bank that you are exploring other options will be a good incentive for them to sweeten the deal. You might end up with an even better deal.
This information is also important for girls and women who are starting on their financial learning journey.
A great wealth of information is available in my favorite book: Talk Money To Me.
What option offered by your bank made you decide to stay with them? .
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