We are working on consolidating accounts and I have a few questions:
1. We keep a bit more than a month's expenses in checking, but I have a savings account at the same bank. I'd like to move savings to Vanguard for the higher yield. I know ACH transfers are quick, but I'm hesitant not to have "instant" access to my cash. I guess it's just a comfort factor. Do you keep a savings account at the same bank as your checking, or are you comfortable having it separate?
2. We need a mega-bank for business accounts. We'd easily qualify for a "free" checking account, but they still have ATM fees, wire fees, and foreign transaction fees. To waive these, you need to move a lot of cash/assets. When I really think about it, we travel internationally a lot but rarely ever need cash. Same with wires and domestic ATMs. We don't use them often at all. Rather than keep a Schwab account for the rare occasion that I need to pull cash, I figure paying a small fee once or twice a year isn't the end of the world. How do you deal with bank fees? Do you pay fees occasionally or move assets/open new accounts to try and avoid them?
1. We keep a bit more than a month's expenses in checking, but I have a savings account at the same bank. I'd like to move savings to Vanguard for the higher yield. I know ACH transfers are quick, but I'm hesitant not to have "instant" access to my cash. I guess it's just a comfort factor. Do you keep a savings account at the same bank as your checking, or are you comfortable having it separate?
2. We need a mega-bank for business accounts. We'd easily qualify for a "free" checking account, but they still have ATM fees, wire fees, and foreign transaction fees. To waive these, you need to move a lot of cash/assets. When I really think about it, we travel internationally a lot but rarely ever need cash. Same with wires and domestic ATMs. We don't use them often at all. Rather than keep a Schwab account for the rare occasion that I need to pull cash, I figure paying a small fee once or twice a year isn't the end of the world. How do you deal with bank fees? Do you pay fees occasionally or move assets/open new accounts to try and avoid them?
Statistics: Posted by NYCaviator — Tue Jan 23, 2024 7:33 pm — Replies 3 — Views 98