How To Know It’s Time To Break Up With Your Bank

Unsplash/Andrea Natali

Banks are more than just buildings that dispense cash — they’re literally the mediator between ourselves and our hard-earned money. And while we respect the banking system, there are some establishments that just don’t fit our needs. Choosing the right bank for you is one thing, but what happens if the bank you’re currently with isn’t working for you anymore? Yes, there are warning signs that you should break up with your bank. Know them well and move on when it’s time.

Here’s when you know your bank isn’t loving you the way you deserve:

You moved away from any nearby branches.

A long-distance relationship takes so much more effort than one you can commit to in the flesh. If you recently moved and your bank doesn’t offer branches near your new home, it’s not serving you the way it used to. You definitely don’t want to be in a situation where you need cash from your specific bank and have nowhere to withdraw it. Even if you only use credit through a particular bank, you want to be near a branch just to have the option to go in and speak with someone.

Your bank doesn’t fit your lifestyle anymore.

Never mind about moving away — sometimes your life changes and your bank doesn’t fit your new lifestyle. That’s okay! We all started out with that bank account our parents set us up with when we were 18, but that doesn’t mean that it makes sense for your adult self. Major factors like new job responsibilities, marriage and evolving financial priorities could completely change your relationship with your bank. If it doesn’t fit into your life anymore, let it go.


The customer service is awful.

Hey, we don’t tolerate abuse or neglect of any kind. So, if your bank has an atrocious online user experience or rude employees every time you need someone to talk to, it’s time to rethink your financial partnership strategy. You don’t deserve to deal with awful treatment from your friends and loved ones, so don’t tolerate it from your bank.

Fees are your bank’s middle name.

Notice that everywhere you go, your cash withdrawal fees are one on top of the other? Or maybe your bank has a scathing annual fee that wipes out a good part of your paycheck. If the fees are too much, consider switching banks — for your wallet’s sake.

It doesn’t check out with the feds.

Ever heard of the Federal Deposit Insurance Corporation (FDIC)? You should get acquainted. The corporation manages the financial health of each bank, and you can check the website to get a gauge on how your bank is holding up. It also provides a particular insurance to banks that cover checking and savings accounts in case something happens to your particular bank. If you have under $250,000 stored in a bank and it’s up to date on its insurance, you’ll get every penny of your money back if things go awry. If your bank hasn’t updated its particular insurance (you can check this on the FDIC’s website), you’re not covered — not good.