Talk of The Villages Florida - View Single Post - changing banks, need opinions...........
Thread: changing banks, need opinions...........
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Old 04-26-2023, 12:04 AM
Pairadocs Pairadocs is offline
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Quote:
Originally Posted by Michael G. View Post
I always wondered about interest on checking accounts, why do they bother?
I must be some law, and the couple cents each month always is just
few to through my balance off.
Not yet retired account friend commented at dinner a week ago, about the NEGATIVE cost of money in a bank account. Turns out he was correct, turns out that you can't just look at the .005 % interest, you have to faction in inflation, and you actually go BACKWARD in a bank checking account, so good move to keep ONLY what you must at the time into that account because you are paying for that checking account. If you have a high balance, you pay a high price for those "free" senior accounts ! LOL ! Kind of like "free" roofs, and "free" windshield replacement.. LOL !