We all have a bank account under our name. Either you own it outright or you’re sharing it with someone, or it’s simply a place to sock away some savings and get a good bit of interest out of it. Sounds like there’s a lot of perks to having a bank account, doesn’t it? Financial independence, a place to store your funds securely, and maybe even the promise of a new life with someone else.

However, in practice, it doesn’t quite work out this way. So whether you’re brimming with savings, or trying to live off a challenge for a week, there’s some good reasons why your bank just might not be cutting it for you. Here’s some of the main ones for your consideration.


First of All, Try a Different Bank


Not everyone is cut out for the life of keeping all your cash stashed underneath the mattress, and truth be told it’s not the best way to handle your funds. Of course you could try going it alone, but there’s a lot of sensible reasons behind opening a bank account.


So if you have got one, and you’re extremely unsatisfied with how it’s working out for you, try your luck elsewhere. There’s so many branches out there that you’re practically spoiled for choice when it comes to choosing a savings account, so get informed. Having the simple knowledge of the options open to you makes you just a bit more money savvy.


There’s More Places to Get a Loan


And these are arguably better places as well. If you’re looking for a loan to simply tide you over until payday, cover costs you can no longer afford in your home, or to fill in for pay you haven’t been receiving, the possibilities are endless. Banks aren’t the only solution to a debt problem, and there’s often a lot less risk on you if you decide to throw your weight in with a newer loaning model.


For example, the state employees credit union is something you could very well belong to, and you’re not using it simply because you don’t know how. Find their ATMs, withdraw some money freely and simply, and have lower interest rates to pay at the end of the borrowing period.


You Shouldn’t Deal with the Fees


Choosing an account that’s the best value for your money often means you’re not going to be able to sink the funds you want into it, as you’re going to be paying half of it out again for holding fees. These kind of fees are the worst when it comes to national and chain banks, and you can usually find better alternatives in local buildings.


You usually won’t find a free option to dedicate your finances to (under half of all savings accounts are fee free), but make sure you have a good look around for one first.


Remember, banks aren’t always our friends when it comes to handing out value. So do your research, it’ll pay off.