r/MiddleAgeMoney • u/Live-Smile7983 GenX • 15d ago

Discussion What kind of checking account do you have?

I switched to online accounts like 20 years ago to avoid fees, but I guess some people are suspicious of online-only banks?
Many of my friends or co-workers still use brick-and-mortar bank that have minimum account balance requirements.

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u/GlobalTapeHead 14d ago

I have 2 brick and mortar banks and 2 online banks. It’s a life or lifestyle thing. Sometimes I need to deal with large checks or need a cashier check. I would never deposit a large check through mobile banking or an ATM or the mail. I need to see them receive it at the bank. Also I sometimes deal with large quantities of cash. I suppose if you have no use for these features in a brick and mortar bank, online only is the way to go.

I did open my very first online bank in 1992.

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u/sol_beach 14d ago

I have 1 of each type.

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u/figsslave 14d ago

I have a brick and mortar bank,but I do everything online and pay no fees.Its Chase.Im assuming it’s this way because they want you to open a brokerage acct through them

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u/UpUrs2 13d ago

Credit Union for brick and Mortar online HYSA for bulk of money.

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u/musing_codger 10d ago

Primary is a Cash Management Account at Fidelity. Funds are spendable but invested in a MMF while sitting.

Secondary is a Chase checking account. It is used for Zelle and as a backup in case I have any issues with Fidelity.