Tips to Select the Right Bank

So, you’ve decided that cord blood banking is right for you. But, how do you know which cord blood bank to use? How are you to go about making this important decision? Here, we offer you a number of issues to consider and ways to make the decision about which cord blood bank to pick.

Get Online

There are many, many sites today where people will discuss cord blood banking options and give their opinions about the topic. Look at some of these sites and get ideas for cord blood banks that people recommend. Take a look at forums, where people share their experiences of cord blood banking and of the facilities in question. You may even want to post your own questions on some of these forums to hear feedback about people’s experiences with these companies.

Talk to Others

Along with checking for ideas online, find names of people that you know who have used cord blood banks. Recommendations are the best way to make a decision. See if anyone you know has banked and ask them all about their experience. If you don’t personally know anyone who has used a bank, then see if your friends know other people. You should be able to find names of people who have used banks and get recommendations from them. Why do all the research about the banks yourself, if you can draw on the expertise of others who have already done the research for you? Certainly, you’ll still want to draw your own conclusions, but you can get ideas from people who have done this already. Perhaps you may even want talk to a doctor in a hospital to see how their experience has been with the bank in question or with the few that you are considering.

The Pocketbook Talks

While most cord banks have relatively similar fees, they aren’t all exactly the same. If you have a specific amount of money that you’re able to spend, you may narrow down your search with financial considerations. Get in touch with each of the banks that you might use, and find out exactly what their costs entail. The majority of the expenses in cord blood banking occur during the first year. There is an enrollment fee, a processing fee, a bank fee, a collection and storage fee, and then a first year fee. There will then be yearly maintenance fees. Ask each bank what they charge and have them break it down for each item. Find out, as well, if each of these items is fixed, or if it will increase over time as your cord blood is stored.

Get the Statistics

You should find out as much as you can about each cord blood bank. How long have they been functioning? How many people work for the bank? How many samples do they process each year? You’ll get a sense, through these questions, about how experienced the bank is and how many people use it. You should also find out what will happen to your cord blood if their bank closes. Do they have a relationship with another bank that has already agreed to take the cord blood? Furthermore, what happens if you voluntarily want your cord blood back and want to switch banks?

You shouldn’t feel pushy or overly curious by asking all of these questions. You are spending a lot of money to store cord blood, and you want to know that the decision that you make will be the right one for you. Do your research so that you’ll feel comfortable with the location where your precious cord blood is stored today – and for the future.

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