Banking Comparison Essay Example | Topics and Well Written Essays - 500 words

Banking Comparison - Essay Example First, the institution to be picked must be able to guarantee safety of the deposits made. Further, it should ensure be able to provide both long term and short term investment opportunities. Moreover, with the increasing technological advancement, it must be able to provide online banking services at affordable rates. The choice taken must be able to guarantee ATM services within the area of residence and other locations as well. Interest should also be placed on the checking accounts and the fees that are associated with them. The institution should also be able to ensure access to the services internationally as well as a safe deposit box. The fees charged on the money transfers should also be a point of concern. Finally, the location of the institution should be convenient and the interest earned on the savings program should be considerate. Indeed, a financial institution that guarantees all these will be the best. The methodology that will be adopted in carrying out research to ascertain the most appropriate financial institution to join will include both primary and secondary. Secondary will involve searching the online information available regarding the institution including the website and other articles. Further, there will be primary approach where an in-depth interview will be carried out to ensure that adequate first hand information is gathered from the bank personnel. This will be done through the visiting of the banks as an individual and doing a face to face interview with the institution’s staff on the services offered. Finally, the data collected through both the primary and secondary approach will be compared with the individual needs in order to come up with the very best option. After carrying out research on Bank of America, CITI, and Chase bank, it was clear that the banks offer almost similar services of interest. Indeed, having visited the branches for in-depth interviews, it almost became difficult to