# Should I just close this savings account? Will my bank let me have just checking? **URL:** \ **Category:** Factual Questions\ **Created:** [September 19, 2010, 2:57am UTC](https://boards.straightdope.com/t/should-i-just-close-this-savings-account-will-my-bank-let-me-have-just-checking/554250 "2010-09-19T02:57:24Z")\ **Posts on this page:** 7\ **Page:** 1
**Author:** ![GameHat](https://avatars.discourse-cdn.com/v4/letter/g/ed655f/32.png) [@GameHat](https://boards.straightdope.com/u/GameHat)\ **Post date:** [September 19, 2010, 2:57am UTC](https://boards.straightdope.com/t/should-i-just-close-this-savings-account-will-my-bank-let-me-have-just-checking/554250/1 "2010-09-19T02:57:24Z")
I’ve banked through USBank for about seven years now. Savings, checking, and recently a credit line for overdraft protection. I’m happy with the checking and the overdraft protection. But the savings account - ugh. It pays shit interest (0.10%) and if I go below the arbitrary minimum (which seems to increase every year) they tag me quarterly with a $4.00 “maintenance fee” It’s so stupid. I’ve kept between $500-$1k in savings with this bank for about a year. Interest earned? Less than a dollar. And then when I need to dip into it to pay unexpected bills I get charged $4.00 for going below their arbitrary minimum. I don’t want to change banks, at least for checking. I’ve got a ton of stuff set up on autopay through this checking account. Can I just drop the savings account? Do banks let you do that? I’m getting robbed blind here. Help me out. ---
**Author:** ![Duckster](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/duckster/32/1244_2.png) [@Duckster](https://boards.straightdope.com/u/Duckster)\ **Post date:** [September 19, 2010, 3:03am UTC](https://boards.straightdope.com/t/should-i-just-close-this-savings-account-will-my-bank-let-me-have-just-checking/554250/2 "2010-09-19T03:03:44Z")
So what’s wrong with the no fee [Silver package](http://www.usbank.com/en/personal/products_and_services/packages/silver.cfm)? ---
**Author:** ![LSLGuy](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/lslguy/32/5813_2.png) [@LSLGuy](https://boards.straightdope.com/u/LSLGuy)\ **Post date:** [September 19, 2010, 3:14pm UTC](https://boards.straightdope.com/t/should-i-just-close-this-savings-account-will-my-bank-let-me-have-just-checking/554250/3 "2010-09-19T15:14:05Z")
Every bank is different. And every bank has different deals on offer from time to time. If you want to kow what \*your \* particualr bank can do for you _this particular week_, call them and ask. ---
**Author:** ![Balthisar](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/balthisar/32/2825_2.png) [@Balthisar](https://boards.straightdope.com/u/Balthisar)\ **Post date:** [September 19, 2010, 10:03pm UTC](https://boards.straightdope.com/t/should-i-just-close-this-savings-account-will-my-bank-let-me-have-just-checking/554250/4 "2010-09-19T22:03:56Z")
Chase or BankOne or National Bank of Detroit (don’t remember who or when) closed my savings account automatically for me at some point, since it never had a balance. Maybe your bank will do that for you if you just ignore it long enough. You could also consider an interest-bearing checking account at Ford Credit, too. ---
**Author:** ![The\_Defenestrator](https://avatars.discourse-cdn.com/v4/letter/t/13edae/32.png) [@The\_Defenestrator](https://boards.straightdope.com/u/The_Defenestrator)\ **Post date:** [September 19, 2010, 11:02pm UTC](https://boards.straightdope.com/t/should-i-just-close-this-savings-account-will-my-bank-let-me-have-just-checking/554250/5 "2010-09-19T23:02:55Z")
> [@GameHat](#): > > I don’t want to change banks, at least for checking. I’ve got a ton of stuff set up on autopay through this checking account. > > Can I just drop the savings account? Do banks let you do that? I’m getting robbed blind here. Help me out. Yes. I have only checking with USBank. I also closed my savings account because of the stupid minimum balance thing. Go into the bank. Talk to a rep and say I would like to close my savings account. That’s how. ---
**Author:** ![ZipperJJ](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/zipperjj/32/211_2.png) [@ZipperJJ](https://boards.straightdope.com/u/ZipperJJ)\ **Post date:** [September 20, 2010, 2:41am UTC](https://boards.straightdope.com/t/should-i-just-close-this-savings-account-will-my-bank-let-me-have-just-checking/554250/6 "2010-09-20T02:41:34Z")
> [@Balthisar](#): > > You could also consider an interest-bearing checking account at Ford Credit, too. I have this and while it only pays like 1.8% right now it’s actually one of the highest around. HOWEVER, it’s not FDIC insured. It’s some sort of money market account. My dad’s had this sort of account for almost a decade I think and has never lost a cent but some people feel rightly antsy about the lack of FDIC insurance. ---
**Author:** ![Balthisar](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/balthisar/32/2825_2.png) [@Balthisar](https://boards.straightdope.com/u/Balthisar)\ **Post date:** [September 20, 2010, 2:05pm UTC](https://boards.straightdope.com/t/should-i-just-close-this-savings-account-will-my-bank-let-me-have-just-checking/554250/7 "2010-09-20T14:05:20Z")
> [@ZipperJJ](#): > > > [@Balthisar](#): > > > > You could also consider an interest-bearing checking account at Ford Credit, too. > > I have this and while it only pays like 1.8% right now it’s actually one of the highest around. > > HOWEVER, it’s not FDIC insured. It’s some sort of money market account. My dad’s had this sort of account for almost a decade I think and has never lost a cent but some people feel rightly antsy about the lack of FDIC insurance. It’s not actually a money market account; they were told to stop marketing it as such some years back since the only investment is in Ford itself. And, right, it’s _not_ FDIC insured; only deposit what you can afford to lose (although to date, Ford’s not been insolvent, like, say GM or Chrysler). [More information](http://www.fordcredit.com/interestadvantage/index.jhtml)