This question popped into my head, and I'm not sure what to do:
I have multiple bank accounts:
: Had it since it was Bank One. Longest standing account. My pay gets deposited in there, and I do all my billpay stuff from it.
: First bank account after I got into the military. They seem nice.
: Highest interest rate in both checking and savings
Bank of America
: My folks have it and it is faster to transfer money from my BOA to their BOA (and vice versa
Navy Federal Credit Union
: Never had one before so I figured I'd open one up. It is also my local bank while I am on Okinawa.
I'm not sure if I want to ax the JPMorgan Chase account. I'm still reading and doing research, but I'm probably going to move my investments from JPMorgan Chase to Fidelity, ETrade, or Vanguard (haven't decided yet, but leaning towards Fidelity right now). That leaves just my checking and savings at Chase. I'm not sure if I really need the bank anymore, but I really do like the familiarity I have with their account transfer, and billpay system.
Would it be worth it to keep it around? I was thinking I should just move all my cash to the ETrade accounts to continue earning more interest (0.5% vs. 3.25%), but I'm not sure if leaving a bank that I've been with is such a good idea. Is there such a thing as customer loyalty for those that have been with the same bank for several years? Or does that only exist at small banks and credit unions?