4 Modern Services You Should Expect From Your Bank

When your grandparents started going to a bank, probably several decades ago, it was mainly a place to deposit money into a savings or checking account and possibly apply for a loan.

Fast forward to today, and modern banks have a number of really cool and convenient services that are ideal for military families. If you are shopping for a new bank, the following list of features and services should be part of the equation.

Plenty of Account Options

In addition to opening a checking and savings account, banks should also offer other types of accounts. As StockMonkeys notes, look for a bank that offers college savings accounts like 529 plans that make it easier for military families to set aside money for their kids’ educational futures, as well as Individual Retirement Accounts (IRAs), annuities and more.

This one-stop-shop approach will allow you to keep your money and investments in one place, rather than keep track of multiple banks and/or financial institutions.

Credit Cards That Offer Rewards

As The Balance notes, banks now offer a variety of loans to their customers; these range from overdraft protection for your checking account to private loans including personal loans, automotive loans, and mortgages.

When researching a new bank, you might also look for one that offers a number of their own credit cards, which is another form of a loan or credit. Ideally, these credit cards should include some sort of bonus or perk when you use them.

For example, the Preferred Cash Rewards Visa Signature Card, which is available to USAA customers, allows you to earn 1.5 percent cash back on every purchase. Once you have a reward ready to use, you can redeem it either by visiting the USAA site on your phone or your computer.

Deposit Checks Via Phone

Traditionally, if you wanted to deposit a check, you had to trek out to your bank and use either the ATM machine or have a teller assist you.

Now, one of the modern services you should look for in a bank is the ability to deposit checks from literally anywhere, all with the help of your mobile device. Rather than drive to the bank, you can take a picture of the check with your smartphone or tablet, or scan the check into your computer and deposit it that way.

Automatic Bill Payment

Instead of paying your bills by check, which can be time-consuming and also requires buying postage stamps, look for a bank that allows you to set up either one-time or automatic payments for your bills.

This feature will save you both time and money; for example, if you have ever been dinged with a spendy late fee, you won’t have to worry about this ever happening again. Setting up this service is easy; you simply need to enter the account numbers and addresses of the places you pay bills to, as well as the due dates.

Knowing that your bank will automatically pay your selected bills from your account will also give you peace of mind that the lights or gas will not be shut off because you accidentally forgot to pay a bill.

Convenient Bank Services Make Life Easier Than Ever

Banks have come a long way from simply handling deposits, withdrawals, and a few basic accounts. Modern banks now offer a variety of account and loan options, including cash-back credit cards, along with conveniences like bill payment and remote deposit features that allow you to handle all of your finances with one bank, and in a very convenient way.