3 Things You Should Expect from Your Business Banker
During times of growth and change, people and businesses need to adapt to face new challenges and opportunities.
You need to work with a business banker who shares your values and wants you to succeed. Here are three key things you should expect—and deserve—from your bank.
1. Stability
The most important part of a business banking relationship is trust. You should feel confident that your bank will provide stability. If you’re at the right bank, your money is always safe and services will remain consistent.
Consider the below questions when you’re evaluating if your bank offers the stability you need:
Is your bank FDIC insured?
FDIC-regulated banks are required to insure accounts up to at least $250,000 per depositor. That means at a stable bank, your money is protected. No depositor has lost any amount of FDIC-insured funds since 1933.
How long has your bank been open?
Experience is important. If your bank is newly established, they may lack key insight during economic changes, including any downturns. You need a bank that’s survived the test of time.
2. Responsiveness
You’ve likely had questions along the way, or need support from time to time. Your bank should be quick to respond and helpful in their answers.
Think about the below questions when you’re evaluating if your bank gives you quick and effective service, every time:
Does your bank have a customer care team that actually cares?
It can be frustrating to be on hold for hours, or unable to reach a real person at all. And when you’re able to reach someone with your question, does your bank offer a superior experience? We’re proud of Western’s Customer Care Team. Every person on the team is knowledgeable and willing to help, and cares about your personal needs and experience.
What options does your bank offer to access your account?
Your bank should offer multiple ways to take care of business banking needs and everyday tasks. From digital banking options to in-person assistance, you should be empowered to bank how you want to.
3. Support
Your business banking team should offer support for your unique business and needs.
Ask yourself the below questions when you’re evaluating if your bank offers support on an ongoing basis:
Does your bank actively look for programs to help your business?
Customer-centric banks actively stay informed and seek out solutions for their customers. For example, when the Paycheck Protection Program emerged from the COVID-19 pandemic in 2020, Western State Bank learned about the program, informed our customers, and offered help.
Does your bank spend time planning with you to achieve your business goals?
Your business banker should be a true partner. A bank that’s right for you will take the time to understand your business goals and do everything they can to help you reach them.
If you’re looking for more from your business banking relationships, find a business banker near you. We’d love to discuss your goals and needs, and see how we can help.