GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you’re free to read more about oureditorial guidelinesand our products and servicesreview methodology.
You dont think much about their presence you just know theyre always there.
Yourbank accountis a lot like that.
You likely dont think much about it; youre just glad its there tokeep your money safe.
However, sometimes life throws a change your way, and you oughta switch banks.
You might start noticing a lot of fees and surcharges eating into your earnings.
Or, more felicitously, you get married and need to open a joint account with your spouse.
Whatever the reason, there are a lot of factors to consider whenmoving from one bank to another.
But you might not know what to look out for in a new bank.
Should you go with a credit union instead?
Most notably, credit unions are nonprofit organizations, which means they dont have shareholders to satisfy.
You might also consider an online bank, or neobank, where everything happens digitally.
When making the switch, Cruze encourages you to create a list of your non-negotiables for a new bank.
Youre going to follow Cruzes advice to make the process as painless as possible.
She recommends starting by listing all your automatic payments and direct deposits.
Before you groan, know that budgeting apps can help you more easily track these transactions.
Cruze encourages sitting down and making a detailed list of all your direct deposits not just your paycheck.
Dont forget about things like child support, freelance work, or irregular income, she says.
Next, tackle your automatic payments.
You want to look for automatic bill payments.
You want to look for subscriptions, whether its monthly or annual.
I know its a lot, but you want to be able to take inventory of all of that.
If youre setting updirect deposit, youll also need your employers name and contact information.
Some banks require a minimum deposit to open an account, so be sure to check this beforehand.
More From GOBankingRates
Share This Article:
