Finding the positives in banking situations

A situation with historical artwork reminds us of how we try to find positive solutions.

09:37 03 June 2013

A historical work of art in the form of a mural on a building is at risk of being demolished so a shopping centre can be created on the site. It’s times like these, when the economy is slowly recovering, that we look for a solution that will be positive for both sides of the situation.This is something we’re also continually doing with our banking habits as well.

 

Here are a few of the ways that we look for positives in our banking solutions:

 

• Interest rates-we hope to find the best interest rates and terms with a banking institution that is reliable and trustworthy. The bank receives our business, and we are able to ensure that we have invested our money wisely since we will receive a return on our initial investment. 

 

• Loans-while we might not like the idea of owing thousands of pounds, many of us would not be able to find housing without the service that the banking industry provides. Mortgage loans are essential and benefit our quality of living, as well as the banking industry. This works the same way for vehicle loans and benefits are mutual. 

 

• Online banking-this may become more prominent in the future, but the advent of online banking allows institutions to cut back on the number of physical stores and possibly of employees, so they can reduce costs and offer a better value to their customers. 

 

• Savings accounts-it isn’t feasible in this day and age to put money in one’s mattress, so it’s good to have a reliable entity who can be trusted with your money, and who can assure you that you have access to it whenever you need it. That’s the type of banking that offers both parties’ advantages. 

 

• Flexibility-some banks have flexible requirements for account, or for making changes, and are able to accommodate a variety of requests to try and make products and services adapt to the customers’ needs. Not everyone in the banking industry does it, but it’s becoming more popular.