Young happy couple signing a document while in a meeting with their banker

So Why Do I Need a Bank?


In today’s anytime, anywhere digital world, it can seem like all you need is your phone, and you can do whatever you need by yourself. To a degree, there is some truth in that. However, your phone is nothing more than an access portal to all that resonates from a solid banking relationship. Your phone isn’t your bank, but it can be one important tool to help you manage your banking business.

The Importance of Having a Bank

You need the right bank and, as important, the right banker and banking relationship. Electronic transactions are fine but when you need advice having a trusted financial advisor is paramount to your success. You need someone who knows your goals and timeline for achieving those goals.

Tom Sposito Headshot
Thomas Sposito II, President

It may only be a time or two per year that you need to visit or call your banker physically, but those times are critical decision points. Suppose you are considering buying a home, saving for a vacation, planning for a college education, buying a second home, or possibly starting a new business. In that case, you will need the right contact person. Much like a trip to the doctor or dentist, a financial ‘wellness’ check should be a part of your annual calendar.

Understand Banking Services

Once you have selected your bank, start setting up the correct type of accounts for your lifestyle. Good fundamental bank products will help you make the most of your money and often suggest ways to successfully build a budget to help you save for the future. This planning will open many doors while providing the safety and soundness you want for your money.

Your bank will provide FDIC insurance to cover your funds should the bank encounter a problem. You will also have a level of fraud prevention on myriad transactions to safeguard your money and debit and credit card transactions. Setting up direct deposit as soon as you open your account provides ease and effortless reliability that your payroll will be available when you expect it.

Make the Most of Your Banking Relationship

Once you have established your baseline banking services, the door is open to safely navigating a limitless number of possibilities. For instance, you can transfer money between family and friends using well-established and safe financial tools. You can set up recurring bills for payment versus handling them via the mail and writing checks. Online shopping at your favorite sites is made simple and stress-free.

Most banks offer a mobile banking solution that you can access at your fingertips 24/7 to ask questions, make payments, check on a transaction or apply for a loan. If you prefer, you can do all those same things from the comfort and security of your home computer via online banking.

Set Yourself Up for Success

Your bank will help set you up for success and should be the cornerstone of all your financial activities. Once the foundation is in place, you navigate and determine how you interact with the bank daily. Of course, over time, things change, goals change, and life circumstances change. Having the right relationship with your bank will afford you the flexibility you need to adapt, assuring your success.

Traditions Bank is committed to being your trusted community bank ready to set you up for success. Transition to Traditions today.

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