3 Benefits of Using a Community Bank

The larger and more corporate a bank is, the more difficult they can be to deal with. Even if you simply want to speak to a human being on the phone and circumvent touchtone purgatory, the bottom line is that these are options that the big name banks are offering less and less. That’s where a Daytona Beach community bank comes in.

1. Trustworthiness

When you’re dealing with any bank, trust is tantamount since you’re basically handing your hard-earned money over to someone else to manage. However, what makes local banks superior is that there’s a human presence to interactions, as opposed to the automated processes of communication that big banks expect their customers to settle for. This means they can be held accountable.

2. Better Fee Structures and Features

When you’re trying to decide which bank to open a checking account with, The Wall Street Journal advises that one key thing to look for is whether there’s a minimum account balance, since this can result in fees if you don’t meet it. Many community banks don’t have this fee, in addition to other perks free of charge that larger banks would charge for.

3. Better Credit Consideration

When you’re seeking a loan, whether personal or for business, your credit rating is blindly assessed by a third party that ultimately decides whether to approve you. However, this doesn’t happen quite the same way in community banks. Although your credit score plays just as much as an important role, credit decisions are often made on-site. This again provides a human rationale that you simply won’t get when you bank with the big boys.

Community banks are akin to walking into a small grocery store and having the owner know that you’re looking for a special kind of food, versus a big bank which is more like walking into a giant supermarket where you can’t find anyone to help you. It’s the local, personal touch that makes community banks superior to big corporate banks, and will take much of the stress out of your banking needs.

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