WRT 'savings accounts' and 'bank interest rates':

From how some of you are talking its like at some point in the past it actually made sense to hold money in a 'savings account'. At least for my entire adult life savings accounts have been a slightly less stupid way to keep your savings but still made little sense. Now we have treasury money market paying so much there's no reason to think about your bank's 'interest rate'.

At least with big banks it is easy to open an investment account and move money quickly between the two.

I've no need for a 'savings account' because extra cash gets moved to the investment account and I buy VUSXX (vanguard treasury money market.) They money in that fund can be exchanged for cash and available in checking in 2 business days. It is not automatic but its easy enough that I don't care.

LOL .... and exactly the same way one would do it with the smallest bank or pudunk CU ;)

There is absolutely nothing a bigly bank, or any bank, offers me that my CU would not do as well or better ... trust me ... I know me .... and banks :(.

I was an AVP when I fired my last bank employer .... had a home loan with them (at employee perk terms), immediately got better terms then paid it off with CU loan rates once I became a member 1 week later....

That was almost 30 years ago tho...

We use 2 banks (B of A and Fifth Third) along with our little old Credit Union which is my main source of basic stuff, like checking or CD's. I've been there so long my account number is 3 digits. The banks are just faceless things, I have no expectations of anything from them, just don't lose my money and stick to business. The Credit Union is family.

I use my credit union for almost everything, but I have a Bank of America business account for emergencies. I deposited cash into the B of A account last month and without any warning I got a $6 charge for a cash deposit fee on my next statement. What the heck?!?!

^^^^ Banks make profits on their customers' expense ... bigly profits.

For my business we have to use a bank. The checking account has no fee other than a 60 cents per month for doing ACH transfers. We don’t write many checks, and mostly do ACH payments.

The entire financial services industry is rife w/ self serving policies, big small local national, they are in it for them sselves and sometimes by accident provide a useful service.

I had 2 incidences this week
1) foreign transaction fee on a product bought and produced locally

2) Fidelity / Mass mutual connivance to hold a large sum of money for a month w/o compensation, 'it just takes that long to do the book keeping' even though the transaction was signed off on by all parties a month previously.

we used to have laws that said financial intuitions had to act for the benefit of their customers. we got rid of them.