It’s about damn time – after being charged $14 a month to keep my checking account open at BoA (even after I opened my free checking account at Chase in order to shut down my BoA account) I finally shut down my checking and savings accounts once and for all. There was only about $700 left total in both accounts and I was paying a lot considering to keep it open. They didn’t even try to keep my business, which is fine by me.
BoA was where I got my first checking account, savings account, and credit card. Back then, I had about $10k (from my childhood lawsuit) and felt like that was a lot of money. Before I started investing at other banks and online investment firms, I walked in to a BoA branch and proudly started a laddered CD — long-term CD interest rates were 5% (!!) at the time. I didn’t realize how good that was…
Closing the BoA accounts feels like the end of a financial era for me. It signifies “Growing Up” to Chase (if that makes any sense.) So long BoA. I haven’t used you for years, so I won’t miss you.
