Keep savings, checking accounts at 1 bank

Cut banking fees, receive more services
Cut banking fees, receive more services © dextroza/

"Another good reason for combining your accounts is relationship pricing on other products," says Gregory Meyer, community relations manager at Meriwest Credit Union in San Jose, Calif. The more money you have with one company, the fewer fees you may need to pay for cashier's checks, safe deposit boxes and other bank services.

These are often tiered benefits that may not kick in until a customer has at least a few thousand dollars in total deposits, says Terri Browning, senior vice president and retail regional director at Sterling Bank in Portland, Ore. It's much easier to reach those tiers when you have more money in one place, as regular deposits rack up greater totals.


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