If you are looking to open an account at a new bank, you’ll need to take into consideration a few key things. Read on to know what these are!

Know the Different Types of Banks

Banks can come in many shapes and sizes, from small community institutions to large national and international banks. But they all offer similar products and services. Here what you should check:

Do you use paper checks or accept direct deposits: Some banks offer accounts that limit the number of checks you’re allowed to write every month. Others waive the monthly maintenance fees if you receive regular direct deposits from an employer, pension, or Social Security.

How often you use an ATM: If you withdraw cash at an ATM instead of through a teller, check if the bank has ATMs near where you spend most of your time or you might rack up fees using out-of-network ATMs.

How much money you have available to keep in the account after paying your bills: Some banks need you to maintain a minimum balance to avoid monthly maintenance fees. If you can’t meet these requirements to waive the fees, you would want a bank that offers an alternative account with limited fees.

Technology Matters

Many banks are pretty good at keeping up with the times. This could mean offering digital tools, to accompany their usual suite of products and services. As technology evolves, banking should evolve as well to meet evolving consumer expectations.

Digital technology is a staple in the banking world, so you should expect your bank to offer the latest platforms. Look for banks with mobile apps and user-friendly websites.

Check for Accessibility

You don’t want to choose a bank that isn’t compatible with your needs and habits. If you aren’t tech-savvy, then an online bank might not be the best option.

The best way to figure out if a bank fulfills your needs is to determine which products and services you need most.

Since there are so many banking options available to consumers, banks may go to great lengths to bring in new clients. Some offer promotional deals or incentives. Don’t select a bank based on a promotional offer or advertised rate. Do your research thoroughly and make sure there isn’t a catch that could come back to bite you later.