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5 questions to ask when selecting a banker

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Key takeaways:

  • By investing time to select the right banker, you can reap the benefits of a banking relationship that makes banking more efficient.
  • With a few smart questions, you can select the  banker who will help you meet your financial goals.
  • Understanding your  personal banker’s communication and organization skills can help you determine if he/she is the right fit for the banking relationship you’re looking for.

A good banker can be an invaluable ally. He or she can help you utilize tools that make your banking experience more efficient and help you plan for the future.

But like so many other things in life, when it comes to getting the most out of your relationship with your banker, you get what you put in.

Here are five questions you should ask when selecting a banker to help you meet your financial needs.

Do I trust him/her?

Like any relationship, you need a level of trust in order to receive the most benefits from the relationship. Your banker can act as a trusted advisor, but first you must take the time to know your banker. Learn about them, and share about yourself. Your bankers can help you even more when they have a clear picture of your needs and where you want to be.

Does he/she communicate well?

Whether it’s good times or bad, your relationship with your banker will benefit tremendously from open communication. The more your banker knows about your financial needs, the better prepared he or she will be to help you when challenges arise. 

Some of the processes and tools can be technical, which is why you want a banker who can explain it to you in a way you understand. Furthermore, the more frequently you communicate, the more you can benefit from your banker’s wealth of knowledge.

Can I use my banker as a sounding board?

One of the benefits of open communication is the ability to use your banker as a sounding board. Bankers work with a diverse variety of clients, so they can understand what you’re going through. Chances are your banker has worked with someone who has experienced things similar to what you are currently going through.

Take advantage of this experience by using them as a sounding board. Ask for perspectives on current financial issues you’re dealing with or a new financial goal you’re targeting. You might be surprised at the things you learn.

Does he/she stay organized?

You’re not the only client. Your banker will be working with a multitude of clients. Try to understand how he/she stays organized. This will give you a better idea of your banker’s handling of a quickly moving schedule with many clients demanding priority at the same time. You’ll want one with a clear system in place for effectively handling many tasks at once.

Why did he/she choose to work at the bank?

This is a key way to see the amount of pride your banker takes in working for the organization. If they are proud of the tools and services their bank offers, they’ll likely be more skilled at explaining them. Plus, they’ll be more interested in sharing about new offerings when they arise. You want to work with a banker who is proactively helping you rather than going through the motions.

With a few smart questions, you can select the personal banker that will help benefit your financial situation. If you’re interested in learning more about the wealth of knowledge MidWestOne personal bankers offer, visit your local MidWestOne branch.

MidWestOne Bank does not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

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