Allow me to suggest a New Year's resolution: Don't be a complacent bank customer in 2018. If you start feeling an "itch to switch" banks, consider scratching it in the New Year.
Changing banks certainly is not a decision you should make lightly. Just having an "itch" isn't a sufficient reason to suddenly withdraw all your money and take it somewhere else.
When it comes to financial services, you have a lot of good choices. Banks recognize that you can readily take your business anywhere in town -- and we have a lot of banks that would welcome you with open arms. It is a customer's market, and you deserve to be treated like the Very Important Person that you are.
When was the last time you seriously thought about moving your business to another bank?
When was the last time you felt like your current bank really, really appreciated you?
Ads tell us every day how this bank or that bank offers the absolute best customer service. Well, they'd better!
Banks are notoriously alike when it comes to the services they offer to customers. Banks pretty much offer all the same kinds of loans; similar "rewards" are tied to certain checking accounts; ATMs are available when and where you need them; and they all have safety deposit boxes.
All bankers are intent on growing their market share to claim a larger piece of the banking pie. The problem is that there are only so many bank customers within a given geographic region with a nearly fixed amount of available deposits.
To grow in such an environment, a bank must take business away from a competitor, so they must find ways to differentiate themselves from "Brand X" located down the street.
Ironically, while virtually every bank claims to possess the so-called latest technology and product innovations, it all comes back to people and personal relationships.
The people at the bank you choose as your financial partner should make you feel welcome from the moment you walk through the door until you have completed your transactions and have left the building.
All things being virtually equal among banks, you should feel comfortable in the knowledge and professionalism of your bank's employees. You should leave the bank with a feeling of satisfaction that your business is going to be done correctly and according to your expectations.
But if you ever walk away from your bank feeling less than pleased with your experience, and you feel a little itch starting to creep up the back of your neck ... go ahead and scratch it!
Article writer Chuck Jones is chief communications officer at Citizens Bank in Batesville. This article was originally published in the Batesville Daily Guard.
Business on 02/19/2018