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In The Media

US banks want 10-12 debit card transaction / month. Why?!

by Larry Chiang on August 21, 2014

By Larry Chiang 

Larry Chiang (@LarryChiang)
Why do certain US banks/credit unions require 10/12 debit card transactions per month to give higher interest rates?

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Banks want you as their primary.

It’s harder to be slutty and less loyal. 
What I mean is that you benefit from having multiple banking relationships.

For example:
My savings is at Wells
My checking is at Chase
My mortgage is at B of A (err was)

This makes the bank compete by offering me a constant stream of deals in an attempt to “buy my business”

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