I’ve had a plan for some time now to replace my big bank with a local community bank. Last week I finally did the first step: opening the account at the new bank. Now I’m setting up links to other accounts and bill pay for some things. I thought it would be efficient to just do it all at once and that has resulted in required scrutiny of all those micro-deposits institutions make to verify identity. In hindsight, it may have been better to do them one at a time.

I also activated the new debit card. Next will be to change my payroll direct deposit to use the replacement account instead of the big bank one. Then I’ll probably use the big bank account to pay taxes this year before I close that account. They’ll probably charge me some crazy high monthly fee once my direct deposit stops because that’s what big banks do. In contrast the new community bank is completely free for members over 50. No monthly fees and free checks even without direct deposit.

Like many things, it’s more effort than I’d expected, but I like that the bank is a small community one that could be a walk from my house on a good-weather day.

So now I have three banks: a credit untion, a community bank, and an online savings account (Ally). 

I still can't comment on any blogs though I'm reading them. I like Rob's scooby-snack story!