65% of Americans Have Switched Banks. Here’s A Better Thought for Couples
- Brian Page
- 3 days ago
- 4 min read
Bank loyalty used to be a virtue. You opened an account in college, stayed put for decades, and trusted your bank would take care of you. That world is gone.
According to Raisin’s 2026 State of Consumer Banking Report, 65% of Americans have switched banks at least once, and nearly one-third have switched multiple times.
Yet here’s the contradiction. While Americans say they care about value and convenience, most are still leaving real money on the table. Only 7% of Americans earn an APY of 4.00% or more on their savings, and 31% don’t even know their savings rate.
What the Raisin Study Reveals About Modern Banking
Nearly two-thirds have switched banks at some point. But many hesitate to switch again because it feels like a hassle.
32% say setting up new accounts and transferring funds is inconvenient.
51% stay because their bank feels secure and familiar.
20% believe most banks are basically the same.
Gen Z is nearly twice as likely as the general population to use a digital-first bank. Gen X is also more open to non-traditional tools than baby boomers.
And yet, across all ages, savings behavior hasn’t caught up. Comfort is winning over returns. That’s where couples get stuck. Familiar systems feel easier. But easy doesn’t always mean effective.
Why Switching Banks Can Be Counterproductive for Couples
Switching banks sounds logical. If your bank isn’t paying competitive rates, leave. In practice, switching everything often creates new problems.
One partner understands the change while the other feels blindsided. Direct deposits get missed. Automatic payments break. Miscommunication between partners happens, as it did in my marriage, which cost me a Perfect FICO 8 Credit Score.
Most checking accounts are built for transactions, not growth. They were never meant to be where long-term cash sits. When couples switch banks entirely to chase savings rates, they often disrupt systems that are otherwise working.
This is how financial decisions become part of the broader mental load problem. One partner takes on the research, setup, troubleshooting, and follow-up. The other partner hopes it works. There’s a better approach.
A Better Thought for Couples: Add, Don’t Replace
Instead of switching banks completely, many couples are better off opening a new savings account with a top-tier APY while keeping their existing checking account intact. That's what we do, for four reasons.
Adding an account reduces friction. Your paychecks still land where they always have. Bills still get paid. Nothing breaks.
Accounts at a different bank or credit union isolate your savings. When savings live in a separate account with a clear purpose, they're easier to protect and easier to track.
High-yield savings accounts put idle cash to work without turning banking into a household overhaul.
Adding an account rather than switching banks is an approach that doesn't address the fact that people don't feel comfortable switching bank accounts.
This is especially helpful for couples managing variable income, bonuses, or large balances earmarked for near-term goals like taxes, home repairs, or tuition.
Why a High-Yield Savings Account Works Better
The Raisin study makes one thing clear. Most Americans aren’t optimizing savings because the system feels opaque or inconvenient. Opening a separate high-yield savings account solves that.
You don’t need to move everything. You don’t need to close accounts. You just need one place where cash earns what it should.
In a prior Modern Husbands post, Maximizing Your Savings with Raisin: A Financial Game-Changer, we explained how Raisin allows couples to access some of the highest savings rates in the industry without chasing teaser offers or juggling multiple bank logins.
Instead of switching banks every time rates change, couples can let their savings work harder while their day-to-day banking stays stable. That stability matters. Financial systems only work if both partners understand and trust them.
Click here to learn more about the benefits of using Raisin to open a savings account.
How to Open a New Savings Account the Right Way
Start by deciding what the account is for. Emergency fund. Tax buffer. Opportunity fund. Naming the purpose and the account reduces confusion later. Next, choose an account with:
Competitive APY [Start here]
FDIC or NCUA insurance
Clear digital access for both partners
Then, fund it gradually. Move a lump sum or set up recurring transfers from your checking account. Automation reduces decision fatigue and maintains consistent savings.
Finally, talk about it. Add this change to your next monthly money meeting. Make sure both partners know where the money lives, why it's there, and how to access it if needed.
Moving Forward
Keep your checking account. Add a savings account at a different bank or credit union. The goal isn’t constant change. It’s clarity, coordination, and letting your cash work without creating more work at home.
Professional Support
I support couples who want to better manage money or the home as a team in their relationship. I am also available for group coaching events.
I'm the only Accredited Financial Counselor®, Certified Financial Therapist®, and Fair Play Facilitator®, empowering high-achieving couples with systems to manage money and the home as a team — drawn from decades of national leadership and lived experience.
Click here to schedule a free 15-minute exploratory call.
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