The $42B Question: Why Aren’t Americans Ditching Big Banks?

Re:The $42B Question: Why Aren’t Americans Ditching Big Banks? by sjellen on Friday December 09, 2022 @05:05PM (#33926972)

If Americans can't afford a $400 emergency, then they can't afford the risk of switching banks. In paycheck to paycheck living, the large bank is both a bedrock of an otherwise unstable living condition and an Overlord you dare not cross.

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Re:The $42B Question: Why Aren’t Americans Ditching Big Banks? by mint2 on Friday December 09, 2022 @05:37PM (#33927332)

If they can’t afford a $400 emergency then they aren’t going to be losing that much interest, like $16 bucks a year.

If they have a small cushion of 1k to 5k, then they should definitely consider keeping their retail bank but also opening a high yield saving. No switching banks needed.

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Re:The $42B Question: Why Aren’t Americans Ditching Big Banks? by el-salvador on Friday December 09, 2022 @05:46PM (#33927438)

Is it common to bank only with one bank in the U.S?

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Re:The $42B Question: Why Aren’t Americans Ditching Big Banks? by haggy102 on Saturday December 10, 2022 @12:21PM (#33934436)

For low-middle class, yes. For upper middle class+, it depends.

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