If you are a small business owner it is a wise idea to re-evaluate your banking needs every few years. Whether it’s due to company growth, changing financial needs or bad service, you may feel your bank isn’t meeting your small business needs anymore. Some signs it is time to switch banks include:
- The service is not personal enough. If you bank with a giant banking corporation you may feel like your bankers don’t even know who you are.
- There are too many little service fees and it’s costing your business too much money.
- The bank seems to want to conduct business over the Internet and you don’t feel comfortable with that.
How to Switch Banks
Switching banks may seem overwhelming but there are a number of things you can to do to make the process easier.
- Don’t expect to close one account and open another in the same day. Slowly stop using your initial bank as you make the gradual switch to a new bank.
- Be prepared for costs. Some banks may charge your a fee to close your account with them.
- Determine what financial needs you have. If you know the type of services you are looking for it will be much easier to choose a new bank.
For your small business needs, contact the Winflow Financial Group.