How long have you been with your bank? Is it still convenient to your life? Are you paying fees? The answer should be no to this question. Are you earning the highest interest rate out there?
Look at your answers and take a look at your finances to make the right choices for you. For us, last year we started to consolidate our accounts. Rolling over our retirement accoun
t from past employers to one account. Consolidating our accounts at two banks – one that offers totally free checking (no monthly fees, ATM fees and overdraft protection) th
at is a brick and mortar bank that is local and has convenient locations and hours that work with our lives. The other is a virtual bank that also has no
fees and pays a high interest rate of savings accounts. It simplifies the monthly statements and it’s two online accounts. That works for us.
Does yours work for you? Here’s a great article from AARP Good Reasons To Consider Changing Where You Bank that will get your thinking about the different types of banks (major bank, community bank, credit union and online bank). Which is best for you?