Every few months, I like to take a look at our financial network map to update it and see if there are ways I can optimize what we are doing. The last few years, most of the focus was on reducing the number of accounts we had. It had bloated tremendously, as the proliferation of online banks (and my application and review of all of them) led to a ton of accounts, and optimization meant culling the herd.
Now that our map is leaner, one area I haven’t spent a lot of time on was the checking account portion. Until the last few years, checking accounts were pretty standard. You earned no interest, you had to kept a daily balance to avoid a fee, and the accounts were as utilitarian as you could get.
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