When switching from a savings bank and opening a new savings product, you can choose from many different banks. But how do you choose the bank that suits you best from this huge range? By choosing the bank that offers what you find important! You can, among other things, pay attention to returns, service, safety and ideals.
Which bank should I choose? – Efficiency
The first thing many savers look at is the return on the savings product. The level of the savings interest that the bank reimburses largely determines the return. Do you choose a bank based on the interest? Then take a good look at the bank’s interest rate stability. A temporarily high promotional interest rate probably means that your savings will not return optimally in the long term.
In addition to the interest you can also take into account any additional costs. For example, do you have to open a checking account or is the savings account part of a package for which you pay costs? These are all things that reduce the return on the savings account.
Choose which bank? – Service
In addition to the return, you can also look at the service of the bank. Is the savings product easy to open? How user-friendly is the website? How customer-friendly is the service? Does the bank have branches in the region or do you have to arrange everything online? These are all things that can influence your choice for a certain bank.
Tip! In the comparisons of Lender you immediately see how current customers rate the bank. This may help you to find the bank that suits you best.
Select a bank – Security
Naturally, every saver wants the savings to be guaranteed in the event of the bank going bankrupt. The deposit guarantee system guarantees savings up to 100,000 euros, but only for banks with a banking license from Le Andre Bank (LAB). Most other European countries have the same guarantee system. If you want to be sure that you will get your savings back if the bank goes bankrupt, always check whether the bank in question falls under the deposit guarantee scheme.
Tip! The banks shown in the Lender equations all fall under the Dutch deposit guarantee scheme or another European scheme that guarantees the same amount. In this way you know for sure that you will get your savings back up to a maximum of 100,000 euros if the bank goes bankrupt.
Which bank suits me? – Ideals
Finally, you can take the ideals and investment policy of banks into account when choosing a bank. For example, take a look at the Good Bank Guide site, where you compare banks’ policies on, for example, labor rights, bonuses, human rights and nature. You will immediately find a bank that matches your ideals.