Running Head: FINANCE REPORT
Based on the scenario provided, I will help Reema to decide whether to stay with the
current bank or open a new account either with Bank Muscat, NBO, or HSBC. Under this
report, I will discuss the factors to consider when choosing a provider, give a comparison
between the three providers, and if these providers will meet her financial needs.
Factors to consider when choosing a provider
Several factors need to be considered by Reema in choosing which of the providers that
will address her needs. One of the basic factors is branch availability. Basically, many people
prefer providers that are always available and can address their needs. Many people may not
need a bank that does not have a physical access nearby. In this case, Reema needs to understand
which branches available in the places she will be moving to and which can address her needs.
The second factor is customer care service availability. This means that the providers should
have available customer service, 24/7 that will be able to support them with the needs they may
need. People may not be comfortable with a provider that does not have customer support team
since their needs may not be addressed. Reema should, therefore, select a bank that can address
her needs. Reema needs also to consider the security of her funds. It is important to choose a
bank that has been insured by the Federal Deposit Insurance Corporation as well as the National
Credit Union Association. Many people do not consider banks without such protections (Tucker,
& Jubb, 2017).
Reema should be very keen on choosing a provider since her fund...