Happy December 11th! Well, apparently not in the world of relationships! According to a 2022 survey from dating app, Flirtini, breakups surge on December 11th.  

Sometimes it's necessary to part ways for the sake of personal growth and well-being… and we’d argue the same of your banking relationship! If you’ve been contemplating this move, why not make it today, on International Break Up Day?

Here’s the Climate First Bank Guide to Breaking Up With Your Bank…

1. Assess the Relationship:

Do you know exactly where your hard-earned dollars are going after you’ve deposited them into your bank account? If you’re anything like Climate First Bank Marketing Intern, Jason Dobuler, probably not! Jason says, “It never occurred to me that my deposits were going to harmful industries which are fueling the climate crisis until I started interning with Climate First Bank. When I found out, I made the switch straight away.” Many major banks around the world are financing fossil fuel companies to the tune of trillions of dollars (trillions!). In fact, since the 2015 Paris Climate Agreement, the world’s largest 60 banks have poured $5.5 trillion into the fossil fuel industry. Unlike other banks, Climate First Bank use their customers’ deposits to provide loans towards environmental and social impact projects. Jason said, “It was a no brainer – I want to avoid contributing to the climate crisis as much as possible, and switching my bank was such an easy choice.”

2. Researching Potential Matches:

Just like in any breakup, it's essential to have a plan for what comes next. Research alternative banking options, comparing features, fees, and customer reviews. Consider factors such as branch accessibility, online banking capabilities, and any perks offered by potential new partners. At Climate First Bank, you can find branches in Winter Park, St. Petersburg, and Mount Dora, as well as a full-service Digital Branch. The Bank has customers in 47 states across the U.S., a long-distance relationship doesn’t phase us!

3. Preparing for the Transition:

Once you've selected a new bank that aligns with your financial needs and values, it's time to prepare for the transition. Update your direct deposits, automatic payments, and any linked accounts to ensure a seamless move. This proactive approach will help minimize disruptions to your financial routine.

4. Informing Your Soon-to-Be Ex-Bank:

Breaking up requires communication, even with your bank. Notify your current bank of your decision to end the relationship and be prepared for the possibility of them trying to win you back – don’t let them fool you! Stay firm in your decision and use the opportunity to provide constructive feedback if it feels appropriate.

5. Closing Accounts:

To make the break official, close your accounts with your current bank. Be sure to settle any outstanding transactions and ensure that there are no lingering ties. Keep a record of the closure confirmation for your records. Check out this helpful checklist from NerdWallet to make sure you don’t miss anything.

‍

In conclusion, breaking up with your bank on Official Break-Up Day can be a bold and empowering move toward a healthier financial future. By carefully assessing your needs, researching potential matches, and following a thoughtful process, you can navigate this transition with confidence. Remember, the key is to find a banking relationship that aligns with your goals and values, setting the stage for a more satisfying financial partnership. Cheers to new beginnings!

‍

Disclaimer: Climate First Bank does not provide relationship advice. The information herein is general and educational in nature and should not be considered legal or tax advice.