October 8th, 2008

Conrunner Kevin

Banking

I am slowly in the process of moving from one checking account to another with the same bank. My existing checking account has high fees for services I once used but no longer do. Bank of America has cheap/free checking accounts that suit my current needs better than my current account type that is costing me $10/month. I also have some concern that the account information might have been compromised; nothing bogus has actually happened. That's why I'm opening a new account (and getting a new account number) rather than just having them chance the current account type.

I would have gone into a branch to do this, but they have a deal whereby the account is fee-free if opened online. Unfortunately, while going through the process, I accidentally also opened a new regular savings account, which I did not want and do not need. Therefore, when the new savings account appeared online, I had to send a message to Customer Service asking them to close the new savings account.

I really wish I didn't feel compelled to do this changeover. It's going to be quite a hassle, aside from the minor expense of printing new checks. (I'm planning on starting the checks continuing the sequence from my existing account, rather than starting over.) I've had that existing account since I was fifteen years old, and the account number is burned into my memory. And changing my direct deposit, pre-authorized wire transfers, and bill payments is annoying. But when I get it done, I will be saving $120/year in fees, which is a good thing.
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