Learning to trust a bank can be nerve-racking. For most, building trust is earned and develops over time, especially when finances are involved.
Reasons for mistrust in banks
Some feel banks are out to get them with unknown financial terminology, hidden fees and bait and switch tactics. This mistrust can be heightened if you’re new to the area, new to the country and especially if English isn’t your primary language. For some, it’s easy to understand why banking brings an overwhelming sense of fear, aggravation, and anxiety. The best way to overcome those emotions and mistrust is to research banking solutions, find the right banking partner and ultimately, know that banks are here to help you reach your financial goals.
How banks help
The trust established between you and a bank grows through mutual dialogue. You should trust that your bank will keep your best intentions in mind when handling your financial needs and goals. A trusted bank also gives you the opportunity to build a savings, weigh lending options for big purchases, and plan for different life events. In addition, banks are filled with financial professionals who can help you navigate through various financial milestones like budgeting, building credit, and applying for loans. Once you start working with a bank, the bankers become your partner, advocate and support that can help you throughout your financial journey.
Understand how money works
Your bank is here to listen to your needs and provide guidance and banking solutions. The bank wants to make money easier for you to understand and manage. Your banker would be happy to talk to you about your financial picture and answer your questions. By working together, the banker can share how you can manage through big financial events like buying a car, purchasing a home or caring for multiple generations at once.
Have an advocate
A banking partner should listen to your needs and concerns to understand how they can better help you reach your financial goals. A bank should calm your nerves and provide clear assistance as you navigate the complexities of life.
By working together, your banker can provide education, consultation and creative, innovative solutions to achieve your ambitions. In addition, a bank allows you to have the confidence that you will be advocated for when making a big purchase or disputing a financial discrepancy. A bank will be there for you throughout every life stage, growing with you from year to year.
In today’s world, many things require having a bank account, for example:
- Employers usually prefer to pay workers through a direct deposit
- Making a purchase can be more secure if you use a debit or credit card instead of cash
- If you want car, renter, or home insurance, you might be required to share bank account information to pay your bill. Same goes for utility bills.
Trust is central to a good relationship with your bank, which is built over time by maintaining relationships with your banker. When you trust your bank, you not only get an established financial institution but a community of experts and advocates that will grow alongside you.
UMB personal banking solutions offer convenience and simplicity to meet all of your past, present and future financial needs. From home loans to auto financing and everything in between, see how UMB personal banking can work with you to find the right products for your life and lifestyle.