The only thing we use our brick and mortar national bank (Citibank) for is to make deposits that are not electronic and to withdraw money sometimes at the ATM. Our checking account is with them. Zero interest.
The bank is near where my husband works- which is over an hour from our home and has no ATMs around where we live, but once he leaves his job, we need one closer to home I guess. But then again, we are hoping to move out of state so a big pain in the butt.
This is actually on my lost to revise. Maybe change to a bank that is near where we live and also where we hope to move, but not easy. Plus, we have so many automatic transactions going on it will be almost mind boggling to change them all. Ugh!
We do have on line banks- Capital One 360 and Discover. The FP I just had a free trial meeting with suggested we change to Ally Bank for the higher interest. I also told him CIT Bank has even higher interest. ( I knew that but he didn't?)
But, again, we have all the automatic transactions set up at Capital One 360 tied to our checking account and it would be one big hassle to change. But we could get $1000 more in interest for the year if we did. No small chunk of change.
But Capital One 360 allows us to have separate bank accounts under one customer # and I like that because I have different ones for different purposes. Like for example- I have one set up to save for the annual fuel bills we get. Money goes from our checking into that account every month. When we get the fuel oil bill we transfer the money back out of there into our checking account. So at least we have gotten interest on our money since our checking account pays no interest. I have ones set up for our property taxes, a new car, home improvements, our timeshare vacations, insurances, and even a misc one for those one time bigger things that pop up- like XMAS gifts, etc.
And then there is the point that who knows how long their current rate will remain? Capital One 360 used to have the highest rates which is why I opened an account there. Now they are low.