Best Banks 2024: 2 Big Things Grant Cardone Looks For in a Bank
Written by
Gabrielle Olya
Edited by
Chris Cluff
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When deciding where to bank, there are a number of factors you may take into consideration. These can include how easy it is to access customer service, overall accessibility, interest rates, fees, deposit requirements, sign-up bonuses, and the products and services offered.
Grant Cardone, private equity fund manager and real estate investor, said he seeks a couple of key things when choosing a bank. Here are the factors that matter most to him.
Personal Relationships
For Cardone, being able to build a relationship with his bank is paramount.
“It’s unfortunate that most people don’t get relationships, even though that’s what every bank advertises,” Cardone, who will be hosting the 10X Growth Conference 2024 in April, told GOBankingRates. “I look for somebody that really understands my business.”
Cardone said he aims to meet with his bankers face to face, and he believes every business owner should do the same.
“People should take the time to meet with the banker and say, ‘I want you to come to my office and meet me. I want you to see my company,'” he said. “Otherwise, they’re going to think you’re just like every other business. Once a year I bring my bankers to see the business.”
Cardone believes that establishing this personal relationship can have financial benefits.
“[When the bankers] come to my office, see my people, see my products, see my services in that way, people can get more leverage with their banker,” he said.
Variety of Products and Services
In addition to relationships, there are a number of products, services and perks that Cardone values when it comes to a bank.
“I want credit lines, I want higher interest rates. I want I want help when [a crisis like] COVID’s happening,” he said. “I want you to pick up the phone and talk to me when I need some help.”
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