There are quite a few people that will think hard about the reputation of a bank when the are trying to decide whether they should use them. However, some people are not really that worried about it and will just look at the products that they are offering and use those as a way to decide which bank to go for. You may wonder whether it is a good idea to use a bank which has a good reputation or whether this is something that is important or not.
What is a Good Reputation?
It is a good idea to think about what you feel a good reputation is. There are different things that different people might think means that someone has a good reputation and therefore you need to think about what your ideas are.
- Well-known – there are some people that think that if a bank is well-known that that means that they will have a good reputation. They have the idea that a company ill want to make sure that they treat their customers well and provide a good service because they are well-known and will want people to think highly of them. However, this is not always the case because just because a bank is well-known, it does not mean that they have a good reputation. In fact, they might be able to get away with poor customer service as they will be able to gain customers just because they have a well-known name and so they can get away with not provide such a good service as a result of this.
- Reviews – some people might think that if a bank has a lot of good reviews then it means that they are going to be really good. Obviously, this does seem to make a lot of sense as we are likely to feel that a good review is something that we should take notice of. However, there is the possibility that it might not be what it seems. There are fake reviews and it is getting more common for companies to either pay people to leave good reviews or get employees to do it. There is also the opposite possibility where companies may trash their rivals or people might troll a company and leave them bad reviews without good reason. It is therefore a good idea to make sure that if you are looking for reviews that they are form a trusted website or company and perhaps that you do not rely on them too much for information and guidance.
- Recommendations – personal recommendations can be a much better way to judge. This is because you actually know the person and you will know whether they are likely to be biased or not. It is most likely that they will have your best interests at heart and will want you to benefit form the help that they are giving you. If course, your personal contacts will be limited and so you will may not be able to gather lots of information using this method but you could still get quite a bit.
- Used before – if you have used a bank before then this will provide you with really useful information. You will know whether they were good or whether you think that it would be better to go elsewhere.
Is it Important?
It is also well worth thinking about whether this is a really important factor. Consider what other things you could be thinking about. Things such as how much they charge, how easy they are to use and how good their customer service, could be factors that perhaps you should consider more.