© Rob Bayer/Shutterstock.com
Cut banking fees, receive more services
"Another good reason for combining your accounts is relationship-pricing on other products," says Gregory Meyer, branch manager at Provident Credit Union in Palo Alto, California. 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, Oregon. It's much easier to reach those tiers when you have more money in one place, as regular deposits rack up greater totals.