In today's day and age, it is almost impossible to walk down the road without passing at least one bank or one ATM service. In such a world, keeping your money in a bank ensures not only that your money is safe, but also that you can earn a little bit extra with interest, without actually working too hard. If you open up your own account in a bank, most banks ensure that all your needs are taken care of. Personal banking takes care of all your needs, including loans for a house, loans for a car, cash deposits, cheque deposits and even insurance. Banks will also send you regular bank statement so that you can keep a track of how much money is being spent where, and can cross check all your payments to ensure that nobody has stolen some money or bought something with your debit or credit card.
Managing your account shouldn't require a finance degree. At Guaranty Bank & Trust, we make banking easy. We know there's no such thing as a one-size-fits-all account, so we make banking personalized for you. Give our checking accounts a look and find the one that fits you. Best part? Each account comes with a free, easy-to-use mobile app and a free personalized debit card.
Presumably the object of having a bank account is to save you money, or at least to help you more easily and properly manage it. But there are also several ways in which your use (or misuse, as the case may be) of your personal banking account could lose you money.
DON'T be afraid to ask: Banks are in the business of keeping their clients. This sometimes means they will go above and beyond their normal service offerings to keep your business. Whether you are looking for a more favorable rate on one of your accounts, free financial software, or even a toaster, don't be afraid to ask about specials. In the process don't forget to remind them how loyal a customer you have been. You'd be surprised how many promotion items that are available to you, but are not given to you. It's just taking up space in your bank's storage room.
DON'T bank online in a public place: Forget about people looking over your shoulder for a moment. An even bigger threat in banking online at a library or a cyber-café or other WIFI hotspot is another computer user on the same internet connection being able to snoop on what you're doing. Wireless networks are not totally secure. People can use that opportunity to capture your personal information and sabotage whatever transaction you're making. No online banking emergency is so urgent that you need to make yourself that vulnerable.
In summary, taking care with your banking habits, being protective of your banking information, and remaining aware of how the deal you're getting compares with other deals available to you will help prevent you from making many of the most common and detrimental mistakes in personal banking.