Quote:
Originally Posted by TomPerry
OP, I don’t understand why you have “small amount” in CFB! Is it just in case! That required the bank to incur administrative expense to comply with state dormant account laws. The small fee is there way of dealing with small PITA accounts. Perhaps these PITAs is why “The Villages” are selling the bank.
|
In 2004 Citizens had paperwork with their mortgage applications papers to open CFB checking account. At the time we did want or need a different bank, we weren’t even using them for a mortgage. Yet there was the paperwork to sign, like it was a giant perk. I’m sure you remember that little push of opening CFB accounts in early 2000s
So there is one reason many have CFB and use it as an afterthought. We keep around $2,000, their online bill pay and transfer is so antiquated we would never use as a primary. Few years ago I went to close the account and they transferred to a different offer for better service. Still not impressed, so I have been writing checks to deplete the account so before Suncoast takes over it will be closed.