When I first started this debt blog, I had eight accounts spread among six financial institutions. And then I added a small local bank to the mix. As of today, I'm down to two banks.
I started consolidating a while ago, first cutting one of the two credit unions, and later cutting SunTrust when they decided to charge a monthly fee for using debit cards. (While they gave in to customer pressure shortly thereafter and changed the policy, it was too little too late for me.) I opted to close my ING account with Capital One bought them. In the end, I figured I'd keep HSBC as my "cookie jar" account for emergencies -- the account that's to remain just out of touch -- but when their website glitch the other day locked me out of my own account, resulting in my spending an hour on the phone -- most of which was spent on hold -- I reconsidered. Rather than have them reset my password, I had 'em close the account and send me my money.
As of today, I'm officially down to two banks. One is my "regular" bank. It's where my paycheck goes. It's where my main savings account is. The other is the credit union from my old hometown. I've had it since I was in college, but never really used it beyond getting my guaranteed student loan and keeping a token amount in the savings account. I have at various times forgotten that savings account even exists. That account will now serve as my cookie jar. I have set up a small but reasonable amount from each paycheck to be deposited directly in it. There is no online bank-to-bank transfer option -- an "inconvenience" that will keep me from tapping into it. But it's not so inconvenient that I can't get my butt to a local credit union service center to access the account.
I'm officially out of the big banks. Yay!
In other news, I've had to help a relative with a financial emergency. As annoyed as the situation has made me (he should be more responsible than this), I'm also grateful to be in the position to help.
Lastly, I've done a rough calculation of my tax return and it looks like I may get back more than I thought. While my refund will help fund Paris later this year, it will also help me get my savings back on track to where I want things to be.
I feel like I'm finally regaining some control following my spending spree in 2011.
2 comments:
I love my big bank, Bank of America... all free! 3 accounts, lots of ATM's, free billpay... can't complain.
HS
You're the first person I know who has said that. :-) Obviously, though, you aren't alone. They wouldn't be a big bank if they didn't have millions of customers. In the end, it's whatever works for you. For me? I prefer the customer service I've been getting from my top-rated local bank and the credit union I've had since I was a college student.
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