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7 Reasons to Break Up with Your Bank

posted on April 23, 2018 in Financial

Why you no longer need a national bank to get the best benefits

So you’re stuck in a loveless marriage. The flame’s gone out. The honeymoon’s worn off. All you’re left with is an unresponsive partner that’s always taking more than they’re giving back. Or worse, fooling around with your accounts behind your back. It’s time to put an end to the abuse. We give you all the hard evidence you need to get past the denial phase and walk away feeling like:

Wolverine walking away from explosion


Maybe you were affected by the recent ghost accounts scandal. Or perhaps you lost money in 2008.

Or maybe the roots go deeper still. Maybe you were with a top-three bank when they called their customers’ bluffs to leave. Remember 2011? Just as we were all starting to recover from the crash, the nation’s second-largest bank announced a new fee: customers would be charged $5 just to use their debit cards. And they weren’t the only ones in on it. They were simply the last to back down from the plan, forcing them to take on the brunt of the criticism.

Whatever your backstory, it’s time to put an end to it. Those examples are not the exception, they’re the rule. Too big to fail? Maybe, but you’re not. And they’ve already failed you. Here are seven solid reasons to walk away from your abusive (or unsatisfying) relationship with your bank:

  1. A Physical Office Is No Longer That Important

Big banks love to bring up how many locations they have. “We have branches in every state. Do they?” they’ll ask defensively when you threaten to leave them for a younger, more attractive bank. But financial institutions are not the same as wireless providers. Your coverage does not depend on cell towers, and your account access isn’t all that limited by the lack thereof. Timely access to financial experts and internet services has become much more valuable. Most modern community banks and credit unions offer eBanking services, like Bill Pay and Mobile Check Deposit, which brings us to the next reason to switch banks.

  1. National Banks Are Not the Only Ones With Great Technology

Convenient, online services used to be an acceptable reason to stay with a big bank. Not anymore. Internet IQ is at a record high. Kids are learning coding in school and at home. The entry cost to build a decent website or app has never been lower. With more competition come more competitive prices. Many modern community banks and credit unions offer services comparable to big banks.

  1. Local Banks Are Offering More Services

But what if you want your bank to be more than just a bank? Maybe you’re a business owner. You want to bank with a financial provider that offers commercial loans, large lines of credit, and investment options, as well as your traditional checking and savings accounts. You may be surprised to learn that more community banks are moving toward that model. For instance, Texas Citizens Bank specializes in business financing options—including  Loans, Lines of Credit, and even Purchase Order Financing. What’s more, we recognize that more choices can actually cause more confusion, so our relationship managers take the time to explain each and tailor plans that fit.

  1. Cookie-Cutter Promotions That Do More Harm Than Good

Have you ever gotten bombarded with promotional offers from your bank that don’t apply to you? This is because most big banks don’t find the cost of audience targeting worthwhile. After all, getting personal with millions of customers is hard. Instead, they take the shotgun approach with much of their email and website marketing, and hope something sticks. But maybe you click on one of these promos, not realizing it’s wrong for you. That’s when not having an honest advisor or relationship manager hurts. Because the sales rep on the other end is worried about meeting his or her own bills and quotas. And promos mean double points.  If you want to get sold, stay with your big bank.

  1. ATM Networks Are Less Exclusive Than They Used To Be

The number of ATMs with your bank’s name on it used to mean something. Now, many smaller banks have similar partnerships with popular ATMs—like the Exchange ATM network—or they simply waive ATM fees for their customers. Exchange’s once medium-sized network has grown significantly over the past three years, and is now considered extra-large, with more than 500,000 ATMs across the US.

“The increased size of the Exchange makes using an alternative financial institution as convenient as a big bank from an ATM point of view.”—Rob Carrick, The Globe and Mail

Texas Citizens Bank goes one step farther than the better community banks and credit unions by offering customer refunds at any US ATM.

  1. Your Big Bank Doesn’t Care About You

As we mentioned in reason no. 4, big banks can’t be bothered with individual customer needs. America’s top three largest banks are infamous for their terrible customer service. It’s to the point where some customers have dedicated themselves to fighting against the megabanks with websites that provide forums and phone numbers for people that have been burned. All three banks are neck and neck in Overall Satisfaction Ratings on Consumer Affairs, all averaging less than 2-star ratings. Meanwhile, community banks are excelling in this area. Texas Citizens Bank boasts one of the most knowledgeable Treasury Management teams in Texas, along with quick-access, local support specific to customer needs: Online Banking Support, 24/7 General Support, and even personalized business advise from loan experts.

  1. Proven Bad Track Record

Your big bank is not on strike one or two. The internet is full of dirt on America’s largest banks. Whether they’re pushing products you don’t need, drawing out the approval process, or robo-signing loan documents, they’re actions are unacceptable but avoidable. Don’t waste your time (and sanity) putting up with their nonsense. Break the cycle and start fresh with a bank that practices what they preach.

Easier said than done, right? It’s one thing to complain about your partner, it’s another to actually end it. Just remember this: They’re never going to change. The longer you wait the more time and money you will waste. So go tell your ball-and-chain bank you’re leaving for good this time. Then actually do it. You’re running out of reasons not to.

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