Many people stick with the same bank for their whole lives. They feel that it is important to have a bank that they can trust and therefore do not want to move unless they either feel that their bank has started to provide a poor service or that another bank offers a very good deal. If you are looking for a better bank, then there are many things that you should consider.
Reputation of a financial institution is really important. You need to be able to trust them to look after you and your money and not treat you unfairly. It is therefore worth doing some research to find out what other people think of the bank. It should be easy enough to find things online. It is worth remembering that no service will ever please everyone and so there will be some negatives for every place that you are looking at. However, you need to make sure that the negatives do not seem to bad.
It is worth looking at the sort of interest rates the bank has. Consider the interest rates for savers as well as borrowers as it is likely that you will save and borrow money from them over time, although maybe not at the same time. Obviously if you look at one time you will only get an idea of how it compares at that specific time and it may not be typical of the bank normally. If you have time, do the comparison a few times over several months or longer to see how they compare. Make sure that you look specifically at products that you are likely to use like a current account, savings account, credit card etc.
As well as the interest there will be charges on accounts to. You may be charged for opening an account, there may be a yearly fee or charges for being late with payments etc. Try to find out what these will be for the accounts that you are likely to need. Consider the interest rates and charges to see whether it is wort going for good interest rates if there are big charges etc. There could be charges for many things, such as late repayments, skipped repayments, borrowing more than authorised too etc.
It is worth also considering what services you like from a bank, whether you want specific types of accounts on offer and those accounts to offer certain things. It can be good to write a list of what you need as well as what you want to see whether the banks that you are considering have what you are looking for.
Some people really like being able to go into a branch, but many bank branches are closing these days. Therefore you need to take a look at what branches there are locally, if this is something you want. Other people prefer just using online banking and if this is the case with you, then you need to check and see whether they offer this facility and find out what other people think of it, so that you can decide whether you think that it will be suitable for you.