I’ve got a bit of a problem these days.. and as near as I can tell it is a bad case of bankitis.
I have my “main” account at one bank, along with a pitiful and much abused RRSP account which has seen almost as much withdrawing as deposits over the last few years. I have a credit card from another bank, an account and a line of credit that was used to pay for my second degree at a completely different bank, student loans that are run through yet another financial institution (who decided that less than $200 was more than enough for a full year of post secondary tuition, books, and other costs when I decided to go back to school, forcing me to bank #3) and then ING direct, where I vainly try and hide a few dollars to “save my money”.
Not only do I get the mandatory statements in the mail from four of them telling me just how little I make, I also get constant phone calls trying to upsell me on the latest account feature, or to take out life insurance with them, or asking me to tell them how much I love paying them ridiculous fees for the honor of (temporarily) storing my money with them.
5 banks.
Five bloated leeches hanging off me, bleeding me dry one dollar at a time with service fees, and convenience fees, and “today is an odd number and we feel like charging you” fees. I can’t wait to find out what they will charge me if I decide to use my bank card when I’m away in New Zealand. I’m guessing multiple fees (currency conversion, convenience, and “not in north america” network fees?) but I’ll find that out for sure tomorrow. If it is any more than zero I’ll go the traveler’s cheque route, and tell the banks where they can put their fees.
To make a long story short, I’ve had it.
I’m tired of throwing thimbles on forest fires instead of making a single lump payment, I’m tired of multiple banks calling me multiple times a day for stuff I don’t want or need. I’m tired of stupid banks that either won’t do a simple transfer to get their money, or insist on charging me to transfer because the money isn’t in an account with their brand on it. Since I’m not willing to pay them even more to do this, I’m also tired of the start of the month driving circuit to withdraw from bank A to physically deposit in B, C and D.
My plan is to cut 5 down to 2… ING for savings, main bank for everything else.
I know the other 3 will be upset that I’m turning off the gravy train of easy money, but I don’t care. I’m not going to listen to their pitches to move my business to their bank (unless they were to offer me a no interest loan and a high interest savings account), because why should I only get somewhat worthwhile offers when I try to leave?
In the infinitely wise words of Eric Cartman, my response will be “screw you guys, I’m going home”…
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