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How to remain financially flexible while banking

Close up of Calculator keypad
Close up of Calculator keypad

Maintain your financial flexibility by avoiding being stuck with one bank. Here are some helpful tips.

  1. Split your direct deposit

You can request your employer for two accounts where your direct deposit will be split. Should you decide to close one account you can easily route the funds to an existing account from another bank. It will be more convenient than opening up a new one after closing an account. You just have to take note of a bank’s required minimum balance to waive fees, because keeping two accounts might make it difficult for you to meet their requirement.


  1. Avoid recurring payments

Although paying bills manually take longer than setting up recurring payment information. But it will be worth the financial freedom because failure to update an account might delay your payment. And if you forget your payment information you have to contact each company with your new account information, which is time consuming.

  1. Scatter your accounts

You don’t have to put all your money in one bank you can deposit them in different banks and use an app to track them. If you have a financial advisor, inquire if he/she uses software that can aggregate all your accounts. This makes it easy for you to monitor your accounts without being stuck.

  1. Skip overdraft protection

Learn to track your transactions so you won’t overspend and feel the need of an overdraft protection. This offer may seem convenient at the onset but will only delay you should you want to close your account with the bank. Diligently, monitor your spending through online banking and keep a buffer of cash in your account so it won’t go negative.

There are a lot of sticky products which you should look out for so you will remain financially flexible when you’re banking.



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