| What are you looking for in a bank? Are you | | | | to have that personal touch, and interaction with |
| more concerned about having extensive access | | | | certain tellers and other bank employees. Bigger |
| to your account at all times or is your | | | | banks have large departments and customer |
| experiences with those that work in the bank | | | | service representatives handling issues sometimes |
| every day? Depending upon how you answer that | | | | from all over the country, depending upon the |
| question and others, will go a long way in | | | | size of the institution. Another disadvantage is the |
| determining whether you would be happier with a | | | | fact there are typically far more fees associated |
| large bank or a small one. Naturally, there are | | | | with bigger banks and their practices than you will |
| very clear-cut differences between larger financial | | | | find in smaller banks. Personal service may take a |
| institutions with multiple branches across the state | | | | backseat to other affairs when dealing with |
| or country and the small local bank that may | | | | bureaucracy in the bank setting. (You are less |
| have only one location in the county. | | | | likely to get assistance with loans and small |
| There are several factors that should be | | | | business services in the larger bank setting.) |
| considered when it comes to a comparison | | | | What are the advantages of the small bank? First |
| between these two different types of institutions. | | | | of all, you have genuine personal attention and a |
| None of them is more important than what kind | | | | stronger connection between bank worker and |
| of service you as the potential customer prefer. | | | | customer. In the smaller bank setting, you will be |
| The best way to illuminate the differences is to | | | | able to get assistance with loans. It is not |
| compare the pros and cons of each one and let | | | | uncommon to speak directly with the person in |
| you, the customer, decide where you would be | | | | charge of approving a loan whereas in a larger |
| more comfortable doing business. | | | | bank setting you would never have access to |
| One of the biggest advantages of the large bank | | | | someone in that executive capacity. Smaller |
| is sheer coverage. There are often multiple | | | | banks are apt to work with their customers |
| branches not only in a town or city but even | | | | especially in cases with overdrawn accounts, |
| across the country. Consequently, with so many | | | | account mistakes, etc. Of course, the common |
| locations spread out across a broad area, it is | | | | disadvantages have much to do with mobility of |
| more likely that you will also have better ATM | | | | account and access to ATMs. With the former, if |
| coverage provided by that banking network. You | | | | you have to move you may have to change |
| will not have to worry about paying extra | | | | bank accounts entirely since a branch may not |
| services charges to make use of the ATM. | | | | exist in your new locations. With the latter, there |
| Another advantage of bigger banks is the fact | | | | are less ATMs associated with your bank so you |
| that even if you have to relocate, you will not | | | | will have to pay those extra fees for using |
| have to transfer bank accounts and account | | | | another bank's ATM. |
| numbers. This is a big plus for renters and those | | | | Certainly, there may be other differences not |
| who have to move to a different city for | | | | mentioned here, but those highlighted should |
| business reasons. | | | | suffice to show you some of the obvious |
| Some of the cons of bigger banks only become | | | | differences between these two kinds of banks. |
| obvious when you deal with them over time. | | | | The only question is, "Which one would you rather |
| Naturally, unlike a smaller bank, you are less likely | | | | use? |