For over 2 decades, I’ve had my checking and savings account at the same bank…or should I say the same bank building. In total, my accounts have been at four separate banks in those 20 or so years. I decided it was time to change my accounts over to a local bank (who have NO plans to sell, merge, acquire, etc.).
It was a pain changing banks from one of those huge, to-big-to-fail national banks (which is the latest iteration of the bank where my money used to reside), to a local bank, owned and run by local banking professionals, but in my estimation, it is still worth doing.
In fact, I would highly recommend that everyone consider doing it.
The switchover required a number of changes:
- Changing direct-deposit accounts with both mine and Thaddeus’ work
- Switching over direct-debit billing for a couple of accounts
- Changing my PayPal direct access
- Changing the account for my retirement investments to interface with the new account
- Learn a new on-line bill-paying system
It was also a bit more expensive in some ways to have my bank be local instead of huge…
- I had to maintain a higher minimum balance to get free accounts with on-line bill-paying (honestly, for me, this had no impact, but it might have impacted some)
- My checking account is no longer interest-bearing (VERY little loss on this one)
- No nationwide availability of ATM machines, so I may have to pay fees more often to take out cash whilst traveling
And despite all this change, I still think it was a good idea. In my own small way, I feel as though I’m telling the BoA’s and Wells Fargos that their policies suck, and they need to advocate for more regulation of the banking industry.
I know I’m slow to the punch on this issue…most of the folks that were fed up with the free-wheeling national banks have already moved their money to local banks. But I’m still quite glad I was able to do my part.
Completed a bit more on the Milano blanket.
And also got a bit more done on the Susan G. Komen Race for the Cure Socks for Women Who Fucking HATE Pink.
A bit here, a bit there and soon I’ll have a pair of awesome socks and an even more awesome bed blanket.
Perseverance pays off…no?
Barb Brown writes, “I do like the colours in that blanket. Speaking of blankets….. did you ever finish the ‘coffin cover’????”
Nope…still sitting in a project bag downstairs. I’m sure that baby will keep my corpse nice and warm!