Reasons To Break Up With Your Bank
Are you wondering how to break up with your bank? Maybe your bank just isn’t keeping up with your financial needs currently. A lot of people make the change from one bank to another to receive more secure and convenient transactions. There are many other reasons why people consider switching banks. If you find yourself experiencing some of the challenges we will list in this blog, it’s time to consider making the switch.
How Hard Is It to Switch Banks?
Switching bank accounts is not as difficult as you may think. If you’ve decided to change from one bank to another, here are some quick tips you can take to make the process easier:
- Stop all your automatic payments: You probably have a few debits going out. Now is the time to stop all payments automatically coming out of your checking account or tied to your debit card. Keep a list of the payments and the account numbers so you can set these up when you switch over to your new bank.
- Deposit funds into your new account: While you are preparing to switch, deposit the minimum amount set by your new bank into your new bank account. From here, you can start depositing the rest of your money.
- Set up your automatic payments and transfer cash into your new account as soon as it has been set up.
Don’t forget to close your old account and set up your direct deposits, such as payroll or social security in your new account. If you are using a bank with great customer service such as Peoples Security Bank & Trust, you’ll be able to do this easily.
Reasons to Change Banks
There are many financial institutions out there, but not all banks have the same services. Here are the most common reasons people break up with their banks:
Lack of Options and Services
Your bank should have all the support and banking services you need. Most people need basic services, such as mortgages, home equity loans, small business loans, credit cards, online and mobile banking, and overdraft protection. You might find you need extra services such as Visa credit cards, Zelle®, fee-free ATMs, international transfers, and merchant banking. If your bank doesn’t offer these options, it's time to consider making the switch.
Inconvenient Locations
Even though many people have switched to online banking, some prefer to have face-to-face discussions about their finances. You may also want to take a quick drive to your bank to make deposits or withdraw money. If your bank isn’t close to you or (isn't open at convenient times for you), it’s time to look for a bank that is closer and has better business operating times.
Did you know? Peoples Security Bank & Trust (PSBT) now has 39 convenient locations across Pennsylvania, New York, and New Jersey to better serve you!
Inadequate Fraud Protection
Inadequate fraud protection is one of the biggest reasons why people switch banks. Your bank should take every precaution to ensure your privacy and money are always protected. If a bank doesn’t take adequate security measures (such as instant card blocks and replacements), it’s time to make the switch for your protection. Peoples Security Bank & Trust provides a Fraud Center to protect our clients from fraud. Clients can report lost or stolen cards, phishing scams, online scams, and identity theft. If your debit card is lost or stolen, the old card will be blocked, and a new card will be issued quickly.
Customer Service Issues
People do not want to go through lengthy processes to get their needed help. If your bank doesn’t have helpful customer service, it can leave you feeling overwhelmed and lost. A bank should provide customer service via email, phone, or even live chat. If you aren’t getting the assistance you require, switch to a bank with better customer service options.
Switch to Peoples Security Bank & Trust (PSBT)
Peoples Security Bank & Trust is one of the best banks to switch to. We offer a variety of banking solutions for customers, protection against unauthorized transactions, and prompt error resolution procedures. Speak to our team to set up your new PSBT account, move your deposits to Peoples Security Bank & Trust, and set up your payments. If you need help, our customer care team is here to help you every step of the way. If you want to stop googling how to break up with your bank and are ready to make the shift to a better banking experience, contact Peoples Security Bank & Trust today!