Just closed mine. The rep was friendly and didn't seem surprised.
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You've convinced me. In fact, now I think that seems enjoyable. I'll probably switch accounts weekly now.
All of that takes less than an hour if you know what you’re doing.
Honestly, I wouldn't have any of my accounts at the bank if I wasn't an employee. Most of the other banks in the area charge a maintenance fee for just having a checking account. But why would you move your accounts now anyway? It creates more of a headache for you than it does for them.
Creating new account/closing an account is the easy part. It's everything you have tied to it that is a pita. Credit cards, paypal, venmo, multiple investment FIs, multiple utility autopays. I have nearly 20 different updates to make with other entities if I change just my checking account.
@2fpx+1spngIgZ - it’s really not that much effort to move your money out of one bank to another. I did it back when union bank was bought out and the transfer of my accounts went terribly.
I am surprised that -any- employee has their bank accounts tied to their employer. I would never open any account with USB as long as I was employed there. It has nothing to do with lack of faith in the company per se, and everything to do with not intermingling your bank accounts with your employer.
Loving all the downvotes on my posts. Go ahead and move your money out of your employer's accounts. That will sure show them! Glad so many of you have that much time on your hands and are so triggered that you'd go through the trouble and effort of closing your account and the tedious work of tying all of your other online accounts to a new checking account just to prove a point.
I moved nearly all my money because you can get better interest rates in a high-yield savings account at many other FIs.
Sure, call me clueless, but I guess it seems petty and stupid to transfer checking to a different company because you're pi---d off about RTO. And if you've had a savings account with USB with the interest rates they've historically had I'd say you are the one that is clueless.
Are you clueless? To show their lack of faith in leadership. Close accounts, sell USB stock, transfer everything to a new bank or credit union, reinvesting in new stocks.
What is your reason for closing your accounts?
I am also currently planning to close my accounts and move my funds elsewhere. They don’t deserve my business or my family business.
I moved funds from checking to savings, closed the checking account and am keeping the savings account at the minimum to avoid the fee and keep my discount for my home equity. Once I'm back to work and can refinance, I'm closing everything.
I am not closing my account, but I am going to take 99% of my money out and move it to fidelity to do treasury bills. Right now I am locked into multiple CDs first one settles in July and my last one in Dec then I’m basically gone. Been with us bank for over 20 years.