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Banks are numerous. They are in the smallest of towns and the largest of cities. Some pride themselves on personal service, while others promote their track record with investments and support of businesses. Whether you are looking for an institution for your family's accounts, services for your small business or investment options, chances are there is a bank near you with different alternatives for each situation. Checking and Savings Accounts Banks are primarily known as the place where we keep our money. But, we want to know if our money is safe and growing. Does the bank charge a fee for maintaining any types of accounts? Is there a minimum balance? What happens if the balance goes below the minimum? Can you earn interest on any types of checking or savings accounts? Other Deposit Accounts Many banks offer other deposit accounts such as Money Market accounts with more restrictions and rules. You may also be interested in a CD (Certificate of Deposit) which is an agreement to leave your money deposited against that certificate for a defined period of time, in exchange for a slightly higher interest rate as compared to traditional savings accounts. Online services We can do so much from the comfort of our own homes. We want to at least have the option of doing some financial transactions online too. Does the bank provide bill paying services? What about online transfers between accounts? Is there a way to do secure messaging with the institution through your account? Can you request a loan or other services online? Bottom line is you want to know what you will have to go into a branch for, what you have to call them for, and what you can do online without ever talking to anyone. Loans Most banks offer different loan options. Does the company offer personal and automobile loans? What are the interest rates and are the rates better if you pay a certain way such as direct debit from your account? Do they offer mortgage loans? You likely shop around for mortgages, but sometimes you may get a better rate and better service if you are doing a lot of other business with the bank or are a valued customer. What about lines of credits? Ask about how you go about applying for different loans and the criteria. 24 Hour Access Does the bank have a good amount of 24-Hour access machines for your off-hours banking needs? Consider where you usually take vacations as well. You don't want to be stranded someplace where you can't get to your funds. Customer Service No matter what products a bank has, you want to know they will provide you with good customer service. Take time to check out their reputation with individuals, businesses, and in the community. Even if they are a large chain, there are local folks that work in the branch near you. Ask who you would call in the event of questions about your account, or if an error was made. There is no shortage of banks near you, so you can afford to be discerning about the products and services that are right for your particular needs. When looking for banks in Middlesex, NJ, visit the team at Somerset Savings Bank. Learn more at http://www.somersetsavings.com.
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