4 Reasons Why We Switched Banks: Should You?

I’ll admit up front: I hate change. Some people poke fun at me for being the most “routine” person they know. As a preacher, that means that I often am out of my “comfort zone,” since the needs of people change my schedule quickly on a regular basis. However, sometimes changes must be made. Recently, we changed the bank where we have our checking account. Even that small change was something I did not want to do. I like simplicity, and moving accounts can be complicated at best, and downright messy at worst. But it was time for a move. The bank with which we had been for several years changed its policy and was going to make it where our checking account was going to be $10 per month. To be fair, there were other accounts that were free, but the standards were some that we do not meet, just by the nature of what we use a checking account for regularly. Some might just stick with their bank no matter what. Read that sentence again. Have you ever noticed we even call it “our” bank! For some reason, we feel loyalty to the institution, just because they are the depository for our funds. But we had to change that way of thinking to save that money. So, why did we change? Here are some reasons. 1. To save money! Obviously, this is the clearest reason. The bank to which we moved has free checking with only one stipulation: that we receive our monthly statements via email. So, we get to have free checking and save a couple of trees along the way. Not a bad deal. 2. To utilize the free market. One of the best things about living in America is that you are not tied to one brand, one label, one manufacturer, one store, or one bank! Why do we just stay loyal, no matter what someone charges, and sometimes, no matter how we are treated? We have the freedom to research and learn the best thing to do with our money. Take advantage of that freedom. 3. To go to a smaller bank. The bank we were using was not a huge, national company, but it was close to it. The bank to which we switched is a local (but very secure) institution. It is run by people who live in our own area, and there is something to be said for that personal touch. We never had trouble with our other bank, but, if we did, it would be nice to know that we are dealing with someone we could meet anywhere, not someone in a huge office 1000 miles away. 4. Ultimately, we changed to be better stewards. Christians are told that we are to manage (or steward) the money with which God has blessed us. Why would I let the bank have $10 each month (with no real benefit from it) just to write a few checks each month, especially when I can have the exact same privileges and services for free? Even that small amount of money adds up over time, and is money that can be used in better ways in God’s Kingdom. This was not a major move in our lives, but it represented something of importance. Switching banks is not an easy decision for someone like me, who hates change. But we feel it was the best decision for us and our family. What are your thoughts? Let us know in the comments! Also, do you think you should switch banks? What’s holding you back? Image by  Vasily Smirnov / Shutterstock Related Articles: New Law on Bank Overdraft Fees & The “Courtesy” Overdraft Protection How to Earn Over $700 from Your Banks Each Year Switching Banks? Things To Remember National City offers $150 gift card to open a checking account 5 Ways To Save Money With Online Banks Banking What is FDIC? Adam Faughn is a minister in Nashville, Tennessee. He is married to Leah and they have 2 children. You can check out his personal blog or follow him on Twitter . As a thank you for subscribing to our newsletter you can download our quick eBook ” 25 Ways To Save Money in 2011 ” for FREE! The articles on this site are for entertainment purposes and should not be taken as financial advice. Please contact a financial professional for specific advice regarding your situation. Also, many of the CPF articles help us pay the bills by using affiliate relationships with Amazon, Google, eBay and others. Find out more here .

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4 Reasons Why We Switched Banks: Should You?

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