CHOOSING A BANK
First evaluate what your needs are.
Ask yourself the question 'what is most important to me in a banking relationship?'.
Do you want to develop a personal, long-term customer relationship with a bank and it's manager?
Do you prefer to do your banking by telephone or online, you'll want to explore the types of electronic services each bank has to offer and perhaps the security level on those services provided.
Do you travel frequently and need access to branch offices while you are out of town, requiring a service with branches in many locations?
What are their bank charges and fees? And what interest do you earn on savings? Consider how you do your banking & purchasing ie. eftpos, atm, internet, and see what fees apply. Is there a monthly account fee? Is there a minimum balance requirement?
Does the bank branch have favourable recommendations from the community?
Is it important for the bank to offer a diverse range of products. Are electronic banking products or perhaps certain financial products important?
Are credit facilities going to be available as and when needed. Do you require an overdraft facility?
Once you have identified your needs, evaluating and comparing the services, fees and finding the right option for you is a much easier task.
The big four banks in Australia are the Commonwealth Bank, ANZ, Westpac and the National.
There are also a number of others some being:
Adelaide Bank Limited, AMP Bank Limited, Bank of Queensland Limited, Bendigo Bank Ltd, Elders Rural Bank Limited, Macquarie Bank Limited, Members Equity Bank Pty Limited, St George Bank and Suncorp-Metway Limited.
There is even more Building Societies and Credit Unions which offer similar services to the banks, in fact too many to mention.