skyhightree1":3v76ixt7 said:
Yea I don't use checks all debit. When I go to auctions and buy stuff I either take case or in some cases the auction house will alow me to do a bank to bank wire of money to pay for stuff.
Even in today's corporate climate, it is still important to develop a personal relationship with your LOCAL banking institution. Last year, my wife was in North Texas using one of the debit cards and I was at home using the other. Bank called me and asked if one of us was out of town. When I was in S. Texas a couple of weeks ago, we spent a lot of $ on our debit card. 3rd day the bank manager called me and asked if we were out of town and said they were about to lock our account due to "unusual activity".
1. Keep no less than 3 accounts.
a. A household checking/debit account--this should be your most active account. Keep enough in this account + no more than 20% overage to handle your usual monthly household needs.
b. An overdraft account--linked ONLY to your household account. Keep no more in that account than 50% of you monthly household expenditures.
c. A savings or brokerage account--or both. NEITHER of which linked in any way to any other account.
d. A business account. Self explanatory. Don't link it to anything else.
Do NOT use off bank site ATMs any more than neccessary and never ever ever make intra-account transfers using an ATM other than the one AT your bank. Too many of these (in convenience stores etc) have had electronic snooping boxes illegally installed to steal passwords/pin numbers and deplete entire accounts.
I do not use automatic minimum balance transfers--this is where you choose to keep a set minimum daily balance and if activity causes your balance to drop below that set line, an automatic transfer from another account takes place automatically. A recipe for disaster.
