Chasing high bank CD rates is always a sound strategy to increase the rate of return on emergency funds, reserve funds, retirement funds and more.  Switching has become a far easier process.  Now banks are making it even easier to collect your funds form on bank and transfer them to another.  It means you can choose a bank that will pay better CD rates or money market rates or even better service with little inconvenience.

 

As the marketing departments of banks have kicked into high gear in order to increase deposits and retain their existing customers, customer service in the banking industry has been getting a much-needed shot in the arm.  Most banks have call centers to answer any questions about switching accounts or general service questions about the products and features.  Many banks have sections of their website dedicated to helping client switch over.  And more banks offer easy to execute switch kits in an effort to allay any fears customers may have regarding the process of using a new bank.

 

Most consumers switch bank accounts to earn a higher interest rate.  With the lack luster returns of other financial markets, the returns offered by the best bank rates are driving more consumers to switch for these higher interest rates.  Better customer service is a secondary reason for switching banks mostly by frustrated customers.  A market of higher CD rates, money market rates and investment uncertainty has created a natural climate of consumers searching for the high rates and safety of bank products.  As banks are gearing up the customer service department, the most demanding step in the process is choosing the bank with the best rates.

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