8 Questions You Need to Ask When Choosing a Bank
Looking for a new bank? Whether you’re opening your first bank account or switching over after a move, finding a bank to suit your unique needs requires careful consideration. Here are the questions you need to ask when choosing your new bank:
- What types of accounts do they offer?
Piscataqua Savings Bank offers a wide range of account types, from checking, savings, and Certificate of Deposit (CD) accounts to Individual Retirement Accounts (IRAs) and Health Savings Accounts, so that everyone can find what they need. When you come into Piscataqua Savings to open a new account, our staff will help you choose the account that best suits your needs. After you open your account, we’re always here anytime you need us to answer all your questions in a personal and timely manner.
- Will your deposits be insured by the FDIC?
The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the U.S. government that protects you against loss if your bank institution fails and is FDIC insured. If you have money in an FDIC-insured bank account and the bank fails, FDIC insurance protects deposit accounts up to $250,000 per account holder. Piscataqua Savings Bank is an FDIC insured bank; the FDIC does not insure stocks, bonds, money market funds, U.S. Treasury securities, safe deposit boxes, annuities, or insurance products.
- What kind of fees can you expect to pay?
Some banks charge exorbitant fees for services you might consider standard. ATM fees, monthly account fees, overdraft fees, and more can add up quickly. At Piscataqua Savings Bank, there are a variety of accounts that may suit your needs and some that have no minimum balance requirements and no fees.
- What interest rates do they offer on deposit accounts?
Rates can vary significantly between account types. For example, CD accounts typically offer higher interest rates than a standard savings account. View our current rates here.
- Do they offer online banking? What about a mobile app?
Piscataqua Savings Bank offers 24/7 access to your accounts with online banking and our e-mobile app. You can view account balances, recent transactions, pending transactions, transfer funds between accounts, pay your bills, deposit money using your camera, and sign up to receive text alerts on transactions.
- How transparent are the bank’s services?
A bank with a commitment to equitable and transparent practices will make all of the above information readily available. Piscataqua Savings Bank meets the highest standard of transparency as a Certified B Corp.
- Does the bank have good customer service?
When something goes wrong, you want your bank to be responsive and helpful. At Piscataqua Savings Bank, we offer a unique opportunity to our customers: immediate access to all levels of decision-making under one roof. This translates to superior customer service for all your personal financial needs.
- How do the bank’s values align with your own?
More and more, people are choosing to do business with companies who share their values. As a Certified B Corp, Piscataqua Savings Bank meets the highest standards of social and environmental impact. We’re a true community bank with a broader sense of responsibility that extends beyond the transaction itself, and encompasses a commitment to our local neighborhoods and social fabric.
When you open a deposit account with us, you contribute to the source of funding we use for making all our home mortgages in the community. This helps us build strong neighborhoods together and create a positive economic impact on local businesses and nonprofit organizations alike.
Interested in opening an account at Piscataqua Savings Bank? You can open a checking, savings, money market, or CD online, or call us at (603) 436-5250 with any questions, or simply stop in and see us. As always, we’re happy to help!
Lender NMLS# 406100
Member FDIC | Equal Housing Lender