14 Questions to Ask

14 Questions to Ask When Opening an Account

Published March 22, 2024

Whether you are saving for college or starting a new career, there’s a variety of bank accounts to choose from with different features and requirements. At Midwest Bank, we offer checking and savings accounts that fit any lifestyle and financial goals.

As you start to build your finances, here are 14 questions you should consider asking before opening an account:

  1. What types of checking accounts are available to me?
  2. Are there fees associated with opening and maintaining an account?
  3. Is there a minimum balance requirement? If so, what happens if I fall below that balance?
  4. What are the interest rates offered on savings accounts?
  5. Are there any restrictions on the number of transactions I can make each month?
  6. Can I access my account online or through a mobile app? Are there any additional charges for these services?
  7. Is there a limit on ATM withdrawals, and are there any charges for using ATMs outside the bank’s network?
  8. What are the overdraft policies? Is there a fee for overdraft protection?
  9. Can I link my bank account to other financial services, such as investment accounts or online payment platforms?
  10. What security measures are in place to protect my account and personal information?
  11. Can I set up automatic bill payments or direct deposit?
  12. Are there any rewards or perks associated with the bank account, such as cashback, interest, or bonus programs?
  13. How accessible is customer service? Can I reach out through phone, email, or live chat?
  14. Are there any additional services offered by the bank, such as financial education resources or credit-building opportunities?

Our experts at Midwest Bank are here to guide you through our account benefits and help you determine what is best for you. Check out more details on our personal banking accounts, financial education resources, and more. For more information on opening an account, contact us.

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