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BMO harris is instituting new terms, resulting in me needing to switch one of my checking accounts to avoid a $10 monthly fee. Suggestions? Any promos anyone is aware of? Any banks to avoid?
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Get organized and plan for a smooth, orderly transition. Figure out what is auto-billing. Figure out what is auto-depositing. When you open the new bank account - find out if there are any limitations they put in place on your ability to access your money from the get-go. I say this because during a transition a long time ago I found out that they are concerned about fraud and sometimes limit access during the 1st month. I would make a schedule for yourself - don't rush it. Give it time to ensure that everything is working properly and obviously transition away from spending on the card associated with the account you are closing. In the spirit of that you would obviously want to have the card associated with your new account. Ideally, as you move money from 1 account to the other you'd either use some sort of electronic approach, but if you were to do a "check" it would be one drafted by the bank as opposed to writing a check to yourself from yourself.
I'm a fan of small banks, but that's a story unto itself. Some people need to visit their bank regularly. I live in Iowa and my bank is in Texas.
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