New bank accounts sometimes give free gifts as an incentive for opening an account, however a new set of knives or a handy new cooler may not always be a great start to a new bank account, but rather a potentially unfortunate prelude to a banking relationship that didn’t take into account what banking is really about. While free gifts are nice, they generally shouldn’t be the primary reason to choose a particular bank and/or bank account. Instead, one might consider aspects of banking that are going to assist one with a financial life that is easier and more manageable.
Bank accounts tend to have more protection from theft than do homes, and funds in a bank accounts are more likely to be insured without deductibles. In addition to the physical and electronic protection banks are able to provide, bank accounts also offer incentives, banking products and banking services to give existing and potential clients a good reason to open and/or continue banking with clients.
REASONS TO OPEN A BANK ACCOUNT:
When deciding to open a bank account thinking about personal financial needs and goals may be important. To do this, asking oneself questions like where is the bank located? how friendly are the bankers? and how easy is it to make use of the bank’s services? may all be good questions to ask. In addition to these questions the following reasons may also be of assistance when choosing a new bank account:
*Helps manage bill paying, and employment payments
*Can assist with building a personal credit rating
*Establishes and/or builds a financial identity
*Facilitates other banking services available through the account
*Provides a sense of financial security
BANKING PRODUCTS AND SERVICES:
When the different reasons to open a bank account have been made and the decision to open an account is in the affirmative, one may then begin shopping for a bank account. Different banks and financial institutions offer different incentives and benefits. Banks generally try to compete for clients which is good for someone looking for a new account. Some of the things that might be worth looking for in a first bank account include the following:
*No maintenance fees for checking or savings accounts
*Free first book of checks
*Low ATM charges for non-bank ATM usage
*Multiple branches and offices
*Reputation and credibility among friends and neighbors
*Financial reputation of bank within the banking community.
How many times are we on the the phone, without a pen or paper? This does not necessarily make us poor business people. Often we have picked up the phone for a casual conversation, only to realize too late that it turning into a business opportunity. At such times we could blow the whole deal by asking formally: “Do you mind waiting while I write down that number?”
Do not try to swallow the whole number at once. It is essential to break it down into manageable portions. Ideally two or three number lumps, that you can associate with something familiar. House numbers, bus numbers etc. If a particular number recurs two or three times, remember that. Also use the sound of a number to change it into something more like a text message. For instance: “I owe two” instead of 102.
The more personal the imagery you are using, the easier it will be to remember.Always think in terms of seventy-two, eighty-four, rather than seven two eight four. Something about the rhythm makes it much easier to remember like that. Simply repeating the number over and over until you do get a chance to write it down can also be helpful.
Now there are people who will tell you the way to remember a phone number is to see it in an emotionally loaded situation and certainly this will etch the phone number on your mind. However, it is not recommended to use your emotions in this way. This is only a phone number we are talking about and not something to have a nervous breakdown over.
The other popular method for remembering is to visualize the number against a striking or ridiculous backdrop. This will work best for that portion of the population that is visually dominant, and less well for the more aurally or tactilely inclined. Even if you are a successful visualizer, you will find your work easier if you take my advice and break the number down into segments to begin with, visualizing each segment separately.