Signs That It Is Time to Switch Banks 

 June 25, 2022

Most people are busy going about their lives and tend to accept the status quo concerning their banking relationships. However, be aware of the signs that it’s time to switch banks. One of the top issues that convince consumers to try another bank is their policy on fees for mobile banking.

• Compare Fees

If your bank is charging excessive banking fees, this should be a red flag in and of itself. There’s no correlation between higher fees and a higher level of service when it comes to banking on your financial institution’s mobile site. Fees add up, and you’ll most likely be surprised at just how much extra you’re paying in fees once you compare fees.

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SoFi and its no-fee structure for mobile banking state that their company doesn’t charge overdraft fees, minimum balance fees, or any monthly fees. SoFi customers have no-fee access to over 55,000 ATMs in the Allpoint® Network.

• Superior Customer Service

There’s no reason to settle for second best to lower your banking fees. As a customer, you deserve excellent and courteous service from your bank. When you notice that your bank’s customer service level is waning, that’s a sure sign that it’s time to switch banks.

• Today’s Consumer Demands Convenience

Online banking continues to grow in popularity because it’s the easy, fast, and convenient way to the bank. Whether you’re a beginner investor or have years of experience, you can manage your accounts seamlessly online. SoFi offers a wide range of many more services for your convenience. Get the added benefits of being able to perform a multitude of tasks.

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They offer personal loans, student loan refinancing, credit cards, no-fee checking accounts, private student loans, auto loan refinancing, and a full platform for banking and investing. There are several great reasons to switch banks.

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• Better Rates

When considering switching from one bank to another, select a financial institution that’s easy to do business with. It would be best if you didn’t have to worry about maintaining a minimum balance in your account to earn a reasonable interest rate. It’s a good feeling to have a bank that puts its customers first finally.

• Safety and Privacy

Many consumers assume that their money is safe with their bank. Unfortunately, this isn’t always the case. If you have any reason to believe that your money isn’t being handled correctly or your privacy isn’t protected, you must address your concerns immediately.

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It goes without saying that if you cannot trust that your mobile banking provider is committed to safety and privacy, that company doesn’t deserve your business. Consider making the switch to SoFi, and experience the difference that experience, transparency, and ethical business practice will make.

• About SoFi

The SoFi Invest app was designed for individuals who want to place their own trades. The app is an all-in-one investing platform to trade stocks and ETFs. You can also purchase crypto or set up automated investing.

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