Should I even have a savings account?
Today I was on the phone arguing with a Wachovia customer service rep about a $4 fee that was assessed to my savings account. She told me that it was because I dipped below the minimum balance of $300 for 11 days in July. I was not aware of this minimum - I opened the account when it was Harmonia Bank...which became United Counties...which became something else...and then First Union and then Wachovia. So - upon mergers they decided what type of account I ought to have. (Gee, thanks!)
Anyhow...it occured to me - why do I even need my Wachovia savings account?????
I have a checking account with them (obviously needed), and savings accounts with ING and Emigrant. That $300 that I MUST keep in Wachovia's account will earn me at least $10/yr with Emigrant now.
Although I'm partially nervous to have all my money with internet banks in cyberspace, at least I know that they are FDIC insured. So...is there any reason NOT to close my regular bank savings account?!?!?
Have any of you done this too with the emergence of ING and others?
I've had it for so long that it's just habit - probably over 15 years...
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