Most of us will have a bank account or building society account. This means that you might wonder whether you are with the best possible place. We have all sorts of reasons for choosing where we have our money, but from time to time it can be worth thinking about why we chose that place and whether there are better options that we should consider.


Banks and building societies vary in how much they charge. This means that if you change to a different one, you could end up saving money. It is worth taking a look at the differences between them. If you have a current account, then it is unlikely that you will be paid interest. However, if you have an overdraft, then it is likely that you will be paying interest and charges for this. Therefore, it could be worth making sure that you are aware of how much you are paying and then you will be able to compare that with other accounts.

For some current accounts you pay a monthly charge and then get benefits as a result. This could include interest on your money, free insurance, cashback on some purchases and things like this. It will vary a lot between different banks and you will need to take a look at what each one is offering so that you can decide whether they will be the best ones for you.

If you have savings then you will want to check the difference between interest on the savings account. Although interest rates are very low at the moment, switching to another bank can increase the amount of interest that you get. It can be worth it, even if it is just a small amount. You may as well get as much interest as you can so that you make more money. You will not want to be swapping each month, but it is worth checking every six months or so.


You may pick a bank because it is convenient. This might be because you have a branch that is very local to you or it might be because they allow you to bank in a convenient manner, perhaps online or by telephone. Although local bank branches are possibly difficult to find, you might find that you prefer to bank online or over the telephone anyway and most banks will provide this service these days. Therefore if these are your criteria, then you will be likely to be able to find a bank that you will be able to use for this.  It is worth thinking about what you need from your bank. You might feel that your bank is the only one providing the service that you want, but it can be worth comparing. You might find that there are others that are doing it and you might find that they have other advantages over your current bank. It is always worth a look as you never know what you might be missing out on.


For some people the reputation of the bank is really important. They want to feel that they can trust the bank. This might mean that they will stick to one that they know or have used before because they know what to expect with them. It can be worth trying others thought as they might be even better than the ones that you are used to. Perhaps it would be good to ask people you know whether they could recommend anyone and that might make you feel like you could trust them more.

Some people might also like to look at reviews of banks and building societies. Asking people you know is more reliable as they will be less likely to be biased and they are more likely to speak from personal experience. Reviews can easily be made up and this could mean that some companies might try to make themselves look much better by reviewing themselves positively or by reviewing their competitors negatively. This means that you need to work hard to make sure that you find reviews that you trust. There are some independent bodies that do provide reviews and so these could be the ones that are worth looking at.

It might be that you have other priorities when it come to choosing a bank. It is wise to think about what you are looking for and then you should be able to pick one that works for you. It might be that you will be looking for the most competitive interest rate, but chances are that you have other priorities or that you have additional ones. You should find that there will be things that are unique to you and hopefully you will be able to find a bank that will provide you with what you are looking for.

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