In modern life, almost everyone uses the services of banks. Pensions, salaries and utility bills are paid through banks. With the help of banks, settlements are carried out between enterprises. Banks attract deposits and issue loans. The only problem is how to choose the most reliable bank among the banks.
What to look for when choosing a bank in Ukraine
When defining a bank, it is necessary to clearly understand what is the purpose of mutual cooperation. If only payments will be made through the bank's cash desk, then you need to choose a bank in terms of proximity to home or work, as well as the size of the commission charged. In the case when it is planned to use various banking products on an ongoing basis, then there are much more criteria for choosing a bank. This is interest on loans and deposits, this is the payment for the provision of various banking services, and, finally, this is the operating mode of the bank. Indeed, many of the citizens can use its services only after hours or on weekends. When choosing a bank for servicing plastic cards, it is necessary to take into account the amount of payment for its issuance and maintenance, the number of ATMs available in a particular locality, the percentage for withdrawing cash and their maximum one-time amount, as well as the possibility of setting a credit limit for the card.
For legal entities, the choice of a bank may be influenced by such factors as the fee for opening an account and settlement and cash services, the timing of payments, the possibility of conducting salary projects for employees, etc.
How to determine the most reliable bank among Ukrainian banks
In the current economic and political situation, almost the main factor when choosing a bank is its reliability. Indeed, along with other enterprises, banks also bear certain risks in connection with inflation, exchange rate fluctuations, etc. The well-being of a bank can be judged by the duration of its presence on the market, the number of branches, the period of validity of the banking license. Also, now in Ukraine, the bank's reliability may be affected by its territorial location.
You can get your own rough idea of the reliability and well-being of the chosen bank by studying recently materials and customer reviews about it in the media, as well as on the Internet.
In addition, in Ukraine, there are various official and unofficial ratings of banks, which are available to anyone on the Internet. They are compiled in the context of individual economic indicators of banks' performance. These include: the size of assets and authorized capital, loan and deposit portfolios, as well as financial condition (i.e., the presence of profit or loss). So, if, according to the rating, the bank has been among the unprofitable for a long time, then when choosing it, you should seriously think about it. Conversely, if a bank has a profit and has significant assets and capital, we can talk about its reliability.
