- Joined
- Oct 13, 2010
- Messages
- 10,780
Exactly! All of the above. We got all of those services, including the safety deposit box, for maintaining a minimum balance for about 25 years. A couple of years ago, they started charging $60 for the safety deposit box. I found a CU with a free box, but it's a 15 minute drive, whereas our box is under 2 miles away now...DW doesn't like change, so we're still there.Why I keep $3k in a checking account at a local brick and mortar bank:
1. Can deposit cash
2. Can withdraw large amounts of cash ASAP (never needed this, but just in case)
3. Ability to withdraw $100 bills (for wedding gifts) or rolls of quarters (super useful when I lived in apartment and paid for laundry).
4. Can get a cashier's check or certified check ASAP
5. Notary services
6. Safety deposit box
The VAST majority of my cash is held at Ally. I just don't see the harm in keep a minimal connection with a brick and mortar bank.