You need to consider switching banks if you have stayed with the same bank long-term or you aren’t happy with the service!
Don’t wait around for your bank to improve how they treat you as a customer, consider switching!
You can find a service that is great, that respects you as a customer and has the right products for you!
Why You Might Change Bank Accounts
Your bank needs to meet your individual requirements, on location, customer service and having the right products for you!
Previously, if you wanted to switch bank account to another provider, the switching process could take up to 6 weeks! Thankfully that has now changed!
It was ridiculous; in essence, you were using two accounts for this period because you were in a state of limbo and errors were not uncommon!
Why Switch Bank Accounts
Some great reasons to change bank accounts includes the incentives that banks now offer to bring in new customers!
Don’t think because you have been with a bank for a while that you should be loyal. If they aren’t providing you with fantastic customer service and amazing products, leave!
Remember that not only do you have the option of local banks you can also choose a credit union, these are non-profit businesses that can offer amazing services and you are not lining the pocket of some CEO!
If you are ever in need of a payday loan, the credit union might be your best option as they have typically lower interest rates and are there to help you with your money!
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One Word Of Caution
If you are looking to move your current account it will impact your credit score, so it is important to hold off on a move if you are considering a large purchase in the immediate future!
The change will affect the offers that you receive; you might end up paying a higher rate of interest, or miss out completely on an amazing deal!
There are plenty of ways to check your credit score, make sure you are making the right choices for you. Improving your credit score is always the best option.
However, if you have no desire to purchase any items on credit or to take out any loans, getting the best place for your money is more important than worrying about your credit score!
Understanding Your Credit file
Knowing what is on your credit file is important!
You need to check that you are on the right track financially and check there are no errors.
If you find an error you need to sort it out before it affects your future options.
Any problems in the past with payments of bills will all show on your credit file!
The information the credit file companies holds on you determines the interest rate that you are offered for a loan or credit card.
Improving Your Credit Score
If you are looking for great rates, then make sure that your credit file is the best that it can possibly be.
You can improve a credit report by paying bills on time and not apply for more credit than you can afford.
Don’t just close credit cards when they are cleared this can damage your rating!
Current Account Deals
Always keep a look out for any deals that banks offer, you might find it is a great way to make some money if things are tight!
But remember they need to check your credit file and any problems might result in them declining you as a customer!
Reading the small print on any deal that you see is key to helping you make up your mind if you want to accept the offer!
Sometimes, there are restrictions that you will need to follow to the letter to ensure that the deal is met!
Best Current Account Switch Offer
Look for the best deal for you, you might prefer another bank, that doesn’t offer an amazing switching deal, but their products and interest rates are better across their range of products!
You have to work out what is right for you, but don’t stay loyal to a bank because you’ve been with them for a long-time, that doesn’t mean a thing in modern banking practices!
So, when you are looking to move banks, think about the location, the products they offer and their customer service.
Don’t forget caution with moving banks if you are considering any big purchases on credit in the near future though!
These are all important areas that you will need to make the right choice as to who you trust with your hard earned cash!
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This will help you sort your daily Spending.