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11 Signs it’s Time to Switch Banks

If you’re frustrated with fees, looking for more guidance, or wonder if there’s a better checking account out there, it may be time to find a better bank.

customer talking to a bank teller

How has your bank been treating you lately? If you’re frustrated with fees, looking for more guidance than you’re getting, or wonder if there’s a better checking account out there, it may be time to find a better bank. According to the J.D. Power 2023 U.S. Retail Banking Satisfaction Study, consumers are looking for support through challenging times, as well as convenience and ease when conducting their banking needs. Of course, after a few high-profile bank failures, we also want assurance that our deposits are safe and secure. Keep reading to see how many of our 11 reasons to switch banks resonate with you. We’ll also show you how easy switching to a new bank can be.

1. Better Customer Service

If you’re frustrated with the poor customer service and negative interactions you’ve been experiencing at your current bank, it is time to start looking for better alternatives. After all, you don’t need statistics to show you the importance of good customer service. When you need help or have a question, you want to talk to a friendly and knowledgeable person  as soon as possible.

Whether you call or visit a local branch, FNBT is here to help when and how you need us. As one of the few remaining truly local banks in Southern Wisconsin and Northern Illinois, we treat our customers like family. You can come to us for the sort of financial advice you’d get from a wise and trusted family member–parent, grandparent, etc.         

2.   Better Rewards

You work hard for your money, and your hard work deserves perks and benefits. If you feel you’re not getting anything extra from your current checking account, it’s time to explore other options. Why settle for a boring, no-interest checking account when there are checking accounts that earn interest, offer cash back, and more.  

one Checking Account with BaZing Benefits

With First National’s one account, you'll have access to a checking account that earns interest and comes with various features, including BaZing benefits. It’s the perfect way to make the most of your money and maximize your banking experience.

one account benefits:
Open a one account online or visit us at any of our convenient locations in Beloit, Argyle, Clinton, Darien, Delavan, Elkhorn, Janesville, Monroe, Walworth, and Williams Bay, WI and Rockton, Roscoe, and Winnebago, IL. 

What are BaZing Benefits?

With BaZing benefits, you'll be surprised by what a checking account can offer. As a First National Bank and Trust customer, you can enjoy some fantastic perks that can help you save money on things you love, like dining, traveling, and shopping. Plus, you will have the bonus of extra protection for your phone and identity. Customers can take advantage of cell phone insurance1,2 and identity theft aid1,2 and monitoring3 services. We should also mention the available 24/7 roadside assistance.

Check out the complete list of BaZing Benefits.

Privilege Plus Checking

Our suite of BaZing benefits also comes with our Privilege Plus checking account. This account rewards you for the banking relationship you have with FNBT, including exclusive member-only CD rates and special member discounts on extended trips.

Keep the rewards coming!

At FNBT, we don’t just offer rewards with your checking account. Get even more rewards by referring a friend or family member to open an account with us. You’ll both get rewarded with 350 points to redeem for merchandise or gifts in our rewards center. You can also earn free rewards each time you use your FNBT Debit Card for purchases.

Browse all our checking account options.

3.  Higher Interest Rates

One of inflation’s silver linings is higher interest rates on your savings accounts. If your bank isn’t offering competitive rates, it might be time to look around. CD accounts have been especially popular lately because they offer higher interest rates than regular savings accounts. Plus, you can lock in your interest rate for your chosen term length.

4. Lower Fees

According to the same J.D. Power study, 5% more customers were charged a fee in the past year than in the previous one. No one likes to pay unexpected bank fees. Your bank should be transparent about the fees they charge and explain how you can avoid them. If that’s not your current situation, switching to a bank with lower or fewer fees can help you save money. You should also look for a bank that can help you find a way to pay no fees. Often, you can avoid some fees altogether by meeting certain requirements.
FNBT knows you work hard to save your money, so we want to help you save on fees with our checking and savings accounts. 
  • Monthly Account Fees: May be waived if you meet a minimum balance.
  • ATM Fees: Avoid ATM fees using an AllPoint or Branch ATM. 

11 Reasons to Switch Banks:  1.Better Customer Service  2.Better Rewards  3. Higher Interest Rates  4.Lower Fees  5.More Account Choices  6.More Access to ATMs and Branches  7.More Digital Tools  8.You’re Opening A Joint Account  9.You’re Moving  10.Better Financial Education  11.Your Bank is Being Acquired

5. More Account Choices

Different people need different things from their checking and savings accounts. Your bank account needs can even vary depending on your season of life. If your current account isn’t meeting your needs, and your bank doesn’t offer a good alternative, you should look for a better option.

For example, you should be able to choose between a Basic checking account when you just want the essentials, a rewards checking account when you want more, and second chance checking to help you get back on track.

A bank with a variety of service offerings will make it easy for you to keep all of your accounts together. FNBT offers a full range of bank accounts and services for every stage of life. Whether you need a savings account, retirement savings account, wealth management account, or wills and estate planning, we’ve got you covered.  

Also, check out our business banking services and loans. Choosing a full-service bank with good customer service can help you simplify your finances.

6. More Access to ATMs and Branches

As we said, no one likes getting charged for withdrawing money from an out-of-network ATM. But, if your bank doesn’t have conveniently located ATMs, and there are few physical branches, it can be difficult to access your money without paying a fee.

FNBT has 16 convenient locations in Southern Wisconsin and Northern Illinois. FNBT customers have access to more than 700 surcharge-free ATMs through the Allpoint and MoneyPass networks.

7. More Digital Tools

The majority of people prefer banking online with a mobile app. If your bank makes it difficult to pay bills or deposit a check online, it’s time to switch.

Online banking is so convenient that there’s no reason for you to do without it. With 24/7 secure online and mobile access to your bank accounts, you can take advantage of these digital banking features: 
  • Secure access to your accounts anytime, anywhere
  • Quickly and easily transfer money between your accounts
  • Receive alerts to help stay on top of your account activity
  • View FNBT statements and loan payment history
  • Sign up to receive free electronic statements

FNBT stays up to date with the latest Online Banking features and technology. Our online bill pay is scheduled to be upgraded in October 2023 to provide a cutting-edge, simplified bill pay platform and new features such as real-time payments and “Picture Pay.”

Learn more about how local banks stack up to online banks.

8. You’re Opening a Joint Account

If you’re opening a joint account with a partner, new spouse, child, or other close relative, it’s a good time to evaluate your current financial institution to see if it meets the needs of both yourself and the joint account holder.

Even if each of you prefer your current bank, it’s important to make sure you have a bank that meets both of your needs and offers all of the products and services that you need now and in the future.

9. You’re Moving

If you’re moving to a new state or town that isn’t part of your current bank’s servicing area, you’ll want to find a new local bank that meets all your needs.  

Look for a bank like FNBT that is here to help when and how you need us. We’ll make it as simple as possible – whether you want face time with a banker, a live person to answer your phone call, easy-to-use digital banking tools, or an expert to help you set up your accounts and use the technology, etc., we’ve got what you need – right here in our local community.

10. Better Financial Education

Our last takeaway from the J.D. Power survey is, “Overall customer financial health has declined 9 percentage points year over year and advice has been hard to come by.” Only 21% of respondents said they received advice or guidance from their bank in the past year.

We all have to navigate a complex financial world in which every decision comes with multiple options to choose from. If you feel like you’ve made a poor decision due to a lack of information from your bank, or if your bank doesn’t offer any information on making financial decisions, it’s time to switch.

You can get financial advice anywhere, but sometimes you just want to discuss your specific situation with a real live human to ensure the information you use to make financial decisions is trustworthy and correct. There’s no excuse for a bank not to provide free financial information and resources for the benefit of their customers. Before opening a new account, check the bank’s website to see if they have blogs, videos, or other informational posts.

11. Your Bank is Being Acquired

Change can feel scary, whether it comes in the form of a bank merger or switching banks altogether. But, while sticking with your current bank can seem like the easy choice (“They said nothing will change except the name.”), that may not end up being the best choice for you. Your preferred branch location may close, the quality of service may not be the same, and you could lose access to benefits or rewards that you enjoy now.
You may want to consider switching to a truly local bank that is trusted, accessible, and has the tools that you need. When you bank with FNBT, you can expect the following:
  • Stability, reliability, and comfort.
  • What you need from a local bank.
  • A family business that understands how you feel.
  • A truly local banking partnership that treats you like family.

How to Switch Banks

If you want to make a switch but keep putting it off, we want you to know that switching to FNBT doesn’t have to be a hassle. We will go out of our way to help you set up your new account and associated bill payments, recurring payments, direct deposits, etc. We treat you like family, which means answering your questions and providing assistance. 

To make the switch, you can visit a local branch in Beloit, Clinton, Darien, Delavan, Elkhorn, Janesville, Walworth, Williams Bay, or Argyle, WI; and Rockton, Roscoe, or Winnebago, IL. You can also open a checking account or savings account online or contact us.

When you sign up for a debit card, you can get an instant issue debit card so you can start making purchases and earning rewards right away. Before transferring all your money to your new account, be sure to re-direct any scheduled payments or direct deposits and review your automatic transactions. Make sure this is all set up before you close your old account.

Through exceptional service and excellent products, our goal at First National Bank and Trust is to help all of our families succeed. Give us a try–we’ll treat you like family.

Check out 10 Reasont to Choose A Community Bank.