More than just strangers: Building a great relationship with your bank

You save. You pay bills. You swipe your credit card. But haven’t you ever wondered if there could be more? Building a solid relationship with your bank can be a game-changer for your next financial milestones. Think of it as making a new friend who can help you out in tight spots, give you advice, and even hook you up with some sweet deals. Here’s how you can turn your bank into your financial bestie:

1. Get to know each other.

Get to know your bank like it’s your new friend. Take some time to explore their solutions, fees, and benefits. Whether you’re doing it at a traditional bank branch or its digital counterpart, dive into what your bank can offer. Knowing about savings accounts, credit cards, and loans means you won’t miss out on perks or end up with surprise fees.

2. Communicate regularly.

Don’t ghost your bank! Keep the lines of communication open. Regularly check your account statements and stay updated on any changes. If you see something new or have questions, get in touch with your bank. That’s what good friends do. Clear communication prevents misunderstandings and keeps you in the loop. Most banks offer multiple ways to get in touch – phone calls, email support, or you can even drop by the nearest branch near you to meet your branch manager. Use these channels and keep the relationship going strong!

3. Use technology to your advantage.

Let’s get tech-savvy! Your bank app lets you manage your account from your phone. Use this tool to track spending, manage bill payments, lock your credit card, or open a new savings account. It’s like having your bank in your pocket, ready to help you anytime, anywhere. Your app is your way to stay in touch with your friend, so embrace it! Download the BPI app now.

4. Build trust with consistent behavior.

Trust is the name of the game. Show your bestie (a.k.a. your bank) that you’re responsible by managing your accounts like a pro. Pay your bills on time and keep a healthy balance. This responsible behavior can lead to better interest rates for loans, higher credit limits, and even personalized financial advice. Banks love reliable customers, and being one can land you some sweet deals. Think of it as building your financial reputation. And hey, why not take it up a notch by opening an investment account? It shows you’re thinking long-term, and banks love that.

5. Be honest about your needs.

If you’re in a tight spot, don’t play hide and seek with your bank. Be upfront about your needs. Banks appreciate honesty and can offer solutions tailored to your situation. Whether it’s negotiating fees, restructuring a loan, or providing financial counseling, your bank can be a solid partner in tough times. They might have programs you didn’t even know about that can give you the relief you need. Don’t be afraid to ask for help – that’s what banks are there for!

You’ll be well on your way to a partnership that benefits you and your financial future by following these steps. And like with any relationship, building a good one with your bank doesn’t happen overnight, but with these thoughts in mind, you can create a reliable and worthwhile partnership. So go ahead and make your bank your new best friend. 

For more tips and insights that help you reach your next financial milestone, visit The Program by NEXT.