4 Reasons Youll Want Open an Account at a Community Bank

by | Jul 4, 2018 | Banking

Youll need to open a bank account if you want to build your savings and portfolio. If youre a freelancer or have plans to work as one for a side-project, then an account is going to be indispensable.

The bank you choose, though, will impact your finances long-term. Heres why a community bank in Daytona Beach may be the right choice for you.

You want higher rates

Big banks tend to offer lower deposit rates on their checking and savings accounts compared to small institutions on average, the U.S. News says. If you want better returns, then a smaller bank can give you the deposit rates you want. In fact, some smaller banks have been known to offer substantial raises on their deposit rates with only a few months in between.

You want attractive offers

Big banks dont need to offer attractive offers and rates. Given the thought that many of these banks are too big to fail and have a lot of long-term clients, theyre less inclined to provide you with perks and benefits. Thats why a smaller bank is much better in the way of incentives and rates.

You want better service

If youre tired of the impersonal and indifferent treatment that big banks subject you to, then opening an account at a community bank in Daytona Beach will seem like a godsend. You get to enjoy customer service thats personal. Its easy for small banks to build real relationships with their account holders, which is a key selling point of community banking.

You have a better chance with loans

When you apply for a loan, small banks can consider your character and family history along with your spending habits. They dont base the approval of your loan solely on your credit score.

Need more reasons to choose community banking? Get in touch with the one nearest to you.

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