Money Matters

It’s okay to have more than one bank

Written by

Austin Light

Posted

March 15, 2019

LendingTree was built on making banks compete. For like 20 years, it was a part of our trademarked tagline. So it’s not a surprise we’re in support of having bank accounts at multiple banks.

Back in the day, you went with the bank nearest to your home. Then maybe you switched it up if you moved, or wanted one with more locations. That was your bank! If you needed a new account or wanted to apply for a loan, that’s where you went. It was loyalty powered by convenience.

But we’re staring down 2020; it’s the future! Your proximity to a brick-and-mortar establishment isn’t required to get all the things you need from a bank. You don’t need to stay loyal to any single bank when there are better offers out there.

And that’s the catch that keeps you in one place—how often are you really looking for a new banking service? It’s probably not something you do a lot, maybe every few years. So when the time comes, it’s easy to just go with what you already know. Resist that urge! With just a few quick searches, you can find better services.

So where do you go to find the best bank account? Chances are, if you’re reading this blog, you already know you can search loans at LendingTree. Your bank might even already be a part of our nationwide lender network. It’s interesting, some people are willing to look at other banks for something big, like a mortgage, but the mundane everyday bank account gets ignored. Is it really worth the hassle to shop for one? Yes! And we can help, just head to DepositAccounts.com.

Not all accounts are created equal—far from it. Some have fees, some have balance limits, and of course they all have different interest rates. DepositAccounts tracks more than 275,000 deposit rates across thousands of bank and credit unions. A quick search at DepositAccounts can help you find an account that beats your bank in more ways than one.

Find a new account you like? Sign up! You don’t have to leave your current bank, or transfer all your money to your new account. Most online banks offer easy money transfer between accounts at different institutions. Maybe you want an account just for your business, or a place to put money you’re saving for a big purchase—away from the rest of your accounts where you won’t be tempted to spend it. Whatever your reason, it can’t hurt to shop around. You don’t have to be loyal to your bank for large loans, or little accounts. Head to DepositAccounts and shop around!