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"People also are willing to pay for convenience and simplicity" This is my reason for primarily banking at one of the large banks. I have my mortgage, checking
by johnthuss 4y ago
"People also are willing to pay for convenience and simplicity"
This is my reason for primarily banking at one of the large banks. I have my mortgage, checking and savings accounts all in one place and the physical bank and ATM is less than a mile away. That said, when I do have a large amount in savings I do move it to an online savings account with better rates.
- bityard 4y agoBanks can and do sell mortgages to other banks and other financial institutions all the time. So just because your mortgage is with that bank now doesn't mean it will be forever.
- young_breezy 4y agoSo you have a single point of failure
- johnthuss 4y agoIt's too big to fail ;-)