There are 70 banks in Connecticut, each having several branches in towns and cities across the state. Of the 70, 34 are state-chartered banks, three foreign banks, 20 national banks, four federal savings banks, one federal savings and loan association, and eight out-of-state banks. But which one should you choose?
When choosing banks in Connecticut, there are several things worthy to consider.
Acceptable rates and diverse banking products
It is typical that the bank you choose offers low loan rates and higher savings rates. It must also have several products that you can benefit from. If it is personal banking, you must find services like personal savings, eChecking, college-bound checking, health savings, youth savings, or credit services. If it is business banking, it must have options for small businesses, business checking and savings, money market, and growth capital finance, to name a few.
Quality technological infrastructure
Banks that offer technology features like electronic transactions and mobile services are more operationally well-rounded and market-oriented. They ensure new and current customers get the best banking services they need. This also accounts for a larger marketing base with which to advertise bank products; hence, inform customers. An online presence is also fundamental. Online banking, for example, is becoming a norm as physical banking transactions are getting less appealing.
Reliable customer service
A bank that cares about its customers also maintains a caring customer service department. More than pure advertising rhetoric, reliable customer service must serve and treat customers well. Serving over the counter must be consistent with serving beyond the counter since it shows that an institution is willing to protect and improve a customer’s finances.
When choosing a bank, critically examine the bank’s rates, products, technology, as well as its customer service.