5 Critical Factors to consider when choosing a bank


Banking gives you an opportunity to properly take control of your money. It gives you a clear picture of how you get to spend your money since you can access your bank statements showing all your withdrawals, deposits and even payments made in and out of your account.

The is no doubt banking is important and whether you are new in banking or need to make a change we have put together a list of 5 critical things you need to consider before choosing a bank.


Is there a guarantee that your money is actually secure in that particular bank?

The bank should be able to put in place very strict security measures to ensure your money is in all ways secure. All eligible banks should have fraud prevention measures as well as follow the already put in place fraud preventions measures by the central bank of Kenya.

This security measures should also apply to mobile banking and internet banking services.

Also for your own security always ensure you don’t share or save your bank pins and passwords.


The bank charges should be minimal or not there at all. This is to ensure your monthly expenses are as low as possible which should be your ultimate financial goal.

Always ensure you are aware of your annual banking fees, monthly banking fees, transaction fees and any other applicable fees.

Bank Rates

How fair are the lending rates in case you ever need to take a facility (loan) from this particular bank?

How favorable are the fixed deposit rates incase you ever need to fix your money?

How are their FX rates incase you need to do foreign exchange transactions?

Its good to note you can always window shop so you have a clear picture of what is currently in the market. This will ensure you maximize on any returns that your money can yield.

Customer Service

One of the most frustrating thing is banking with a bank with terrible customer service. The last thing you want to put up with a Frowning Teller or banks that wont pick or answer your calls promptly in times of need. Its already hard making money so you want to ensure a smooth banking experience.

Money is also sensitive and you will sometimes require that personalized customer attention when need arises. Always feel free to complain or move banks when you receive bad customer service or even when you don’t enjoy your customer experience.

Branch availability / Working hours

Flexibility is everything. How easily can you access their branches in times of need?

While we have measures like mobile banking and internet banking to solve this problem you also don’t want to bank with a bank you can almost not access incase of challenges or need.

How flexible are their working hours and do they favor your banking needs?

We have banks in Kenya with flexible banking hours such as closing at 6pm instead of 4pm and working on weekends. In my opinion if you have tight working hours or schedule then it doesn’t hurt to have an account in one of this banks.

Bottom Line

We have numerous banks available for all your banking needs and there is no need to feel stuck in a bank you feel does not meet your requirements. Understanding your financial needs is the first step to this journey and finding out which particular bank or banks can fulfill your needs. Ours is to wish you all the best.


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