How to choose the right bank?

Banks have become a part of our lives. But what exactly is a bank? What services does the bank provide? With so many banks on the market, how should we choose a bank or the type of service that suits our needs? ...This is a confusion for many people.

Banks are divided into central banks (the People's Bank of China is my country's central bank), commercial banks, investment banks, policy banks and the World Bank according to their responsibilities. Commercial banks are what mass consumers often come into contact with. In recent years, more and more foreign banks have entered the Chinese market to provide diversified services. So how do you choose the one that suits you among the many banking services? The following suggestions can be used as reference:

Services provided by banks

The role of banks is no longer just deposits and withdrawals. Currently, many banks have launched "one-stop financial services" to solve Consumers’ financial needs in many aspects. Deposit service: You can make deposits through the counter, ATM and online banking. Card services: You can apply for debit and credit cards at banks. Loan services: You can apply for various commercial loans such as mortgages and other loans at banks. In addition to Chinese banks, foreign banks such as HSBC, Citibank, and Standard Chartered Bank also provide RMB housing loans. At the same time, these banks also provide foreign currency housing loans. In addition to home loans, you can also apply for consumer loans, credit loans, car loans and business loans at banks. Private banking: Private banking services are specifically targeted at high-net-worth individuals, providing a full range of asset allocation and financial planning, as well as investment and financing services. Financial management transactions: You can purchase financial products issued by banks themselves, as well as financial products such as treasury bonds, funds, trusts, and insurance sold by banks. When purchasing, you need to distinguish the types and risks of different products. Convenient services: The bank will provide services such as payment of water, electricity and gas bills, mobile phone bills, and hospital registration. Mobile banking service: After opening the mobile banking service at the bank counter, you can handle transfers and remittances, credit card repayments, phone bill recharges, game points, bank card balance inquiries and other services through your mobile phone. Online banking services: After activating mobile banking services at the bank counter, you can handle transfers and remittances, credit card repayments, purchase of financial products, account inquiries and other services online. WeChat banking services: Some banks have opened WeChat banking services. Use WeChat to scan the bank's QR code to use WeChat banking, and get 7×24 hours of manual consultation, self-service inquiry and information acquisition services.

How to choose a suitable bank

Before choosing a bank to open an account, you must first understand the following issues: Your own banking service needs: The comprehensive service capabilities of each bank are different. Beforehand, you should think about what kind of bank you want to find? If you plan to study abroad, you should find a bank with strong overseas service capabilities; but if your purpose is to save, you should find a bank with a more favorable interest policy. Bank branches: Does this bank have branches where you live and work? Although electronic banking services are becoming more and more developed, there are still many businesses that you have to go to the counter to handle. If this bank opens branches where you live and work, you will enjoy a lot of convenience. School/salary card: The school or company sometimes designates you to apply for a bank card from a certain bank. If you don’t like the services of this bank, you can reduce the amount of savings in this bank through Alipay transfer or Super Online Banking collection function. . ATM branches: Is this bank’s ATM close to you? You do not need to pay handling fees for withdrawals from the bank where you opened your account, but inter-bank withdrawals generally require fees. Inter-bank deposits and withdrawals in the same city have a handling fee of 4 yuan/transaction. Inter-bank withdrawals in different places charge different fees for each bank. For example, Agricultural Bank of China is responsible for transactions. 0.5 of the transaction amount (maximum 50 yuan) 4 yuan/transaction, China Construction Bank 2 yuan 1 of the transaction amount (minimum 2 yuan). Generally, small and medium-sized joint-stock banks will waive inter-bank fees due to their relatively small number of ATMs and outlets. Please check the actual fees charged on the bank's website. For transfers at ATM outlets, all banks across the country implement inter-bank transfers from ATM machines, with a daily limit of 50,000.

Transfers to ATMs in the same city are free of charge. The handling fees for transfers between different places, within the bank, and between banks are different. For example, inter-bank transfers at Agricultural Bank of China ATMs are subject to an increase of 20 yuan from the ordinary remittance fee standard, with a maximum of 50 yuan per transaction; therefore, there are This bank's ATM will save you a lot of money. Convenient services: Generally, banks will provide water, electricity and gas bill collection services, but the designated collection banks in different communities will be different. It is best to choose a bank that can collect your water, electricity and gas bills. Electronic banking security: The most critical aspect of online banking services is security. In addition to providing you with fast and convenient transactions, Internet platforms also allow some cyber hackers to focus on the funds involved in these transactions. Therefore, whether a bank has a mature and secure online banking system is a core issue that needs to be considered. Bank service quality: The service quality of bank branch customer service staff is very important to your business experience. The security provided by the bank is also very important, especially for mobile banking and WeChat banking. Try to choose a bank that has been offering such services for a long time and can provide mobile security equipment.