Banking Options in Texas

How to Find the Best Banks in TX

There has been a great deal of down and up in the banking world since the recession hit in late 2008. Numerous Texas banks failed, new banking regulations were set up and small, local banks in Texas proved they were equally viable an option, if not better, than the big national banks.

All of this uncertainty and change has left many consumers questioning which bank they ought to trust with their money. Use this guide to read more about what to look for, what to prepare for, and ways to get the most from your banking experience.

Bank Services in Texas

If you're considering which bank should get your business, the services they provide should be a key concern. Bank services go well beyond setting up a checking account. Today, banks in Texas can be a one-stop shop that delivers:

• Checking
• Savings
• Investments
• Credit counseling
• Budgeting help
• Debit cards
• Credit cards
• Loans
• Direct depositing

As you can see Texas banks offer a wide variety of services to satisfy all your financial needs. Some even have educational materials and programs to help kids learn about money and family finances. However, the most important bank service is customer service. You'll want to be able to get a hold of a real person 7 days a week, 24 hours a day. Employees at your local bank should be familiar with your accounts and responsive to your requests.

Your finances are an essential part of your life and well-being. Everyone at the bank should recognize that and care about your financial success as much as you do. Take the time to evaluate what services you need. This should help you narrow down the selection of banks and ensure they can provide what you're searching for.

Texas Bank Services for Free vs. for a Fee

Many Texas banks offer free services like free checking accounts and checks, free debit cards, free educational materials, etc. However, some services are offered for a fee. Typically these are more specialized services that require expertise.

When you evaluate you're banking needs, note which services are important enough that you'd be willing to pay for them if necessary. When you're researching and interviewing banks make sure to ask about fees and fee schedules. Depending on the service it may be worth it to pay a fee versus getting a sub-par service or not getting it at all.

What to Look for When Choosing a Bank in Texas

As stated earlier banks in Texas can fail, and when they do it can be catastrophic for the people that use their services. When you are contemplating your bank options there are signs to look for to ensure you're selecting a bank that is stable.

Good banks will offer you lots of ways to communicate with them. This includes online and offline modes of communication. As mentioned previously they will be quick to respond and handled any issues or concerns professionally.

Look for Texas banks with a long track record of stability within the banking industry. The longer they've been in business the better, but make certain they haven't ignored the most recent trends and technology. A good litmus test is to see how the bank weathered the recent recession when the financial sector was at it's worst.

What do people have to say about the bank? Customer reviews and personal recommendations are powerful tools for locating a good bank in Texas. This first-hand experience will give a good idea of what you can expect from using a particular bank.

Look for Texas banks that give you a lot of ways to manage your money. When you've got a busy schedule it's important that the bank have online services so you can access your accounts from anywhere, any time of day.

Make sure the bank is FDIC insured. This protects you from any loss if your bank fails. However there's a cap set at $250,000 per insured bank. If you are worried about loss of deposits and have in excess of $250,000 the safest bet is to set up an account at two separate, insured banks in Texas.

If you follow these guidelines and do your due diligence to research multiple options you are sure to find a bank in Texas that can meet your needs.