prudent_one
Recycles dryer sheets
- Joined
- Jul 30, 2014
- Messages
- 336
A local big regional bank solicited us to switch to them to use their high-end checking (but not their top level Private Bank) . I'm trying to understand if any of the special premium "features" they tout are of real value or just marketing hype. We would be able to meet the minimum requirements to qualify for this account type. And they are paying competitive interest on money market accounts, so we'd earn the same amount as putting the required minimum balance in a Fidelity money market fund. No downside, at least for now. Realistically, we are quite vanilla checking and savings account users. But I'm wondering if any of the features would make it worthwhile.
These are the features they say we would get....
I realize that if we sign up, we'll get prodded to use them for investments which I won't do as we're satisfied with Fidelity's offerings. We manage our own investments with occasional suggestions from a Fidelity CPA (no charge to us). Almost no chance of needing a loan. We're not particularly needy bank customers but if this is a pain-free way to maybe be in a position for some perks or a favor someday, maybe a waived overdraft fee if that were ever to happen, I think I'd rather be eligible than not. Switching banks would not be an issue.
These are the features they say we would get....
- You'll have access to a dedicated team of financial professionals created for [product name], including a network of financial professionals working together to provide you with personalized financial solutions.
- Superior service, characterized by first-class relationship management and access to the [bank] Premium Care phone line. Dedicated loan underwriting and convenient customer service hours means more ease and convenience for you.
- By understanding the unique nature of your financial life, we can deliver personalized guidance, service, and support. We'll help ensure that your financial plans remain aligned with the changes that life can bring.
- We'll work with you to ensure you are getting the most from your relationship, including our collection of innovative financial solutions.
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