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Where to bank

Started by Hayden, September 12, 2018, 10:44:42 AM

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Hayden

Hi FS Community,

Where do the majority of you bank at? I currently use Chase and I have not been super happy with their service. I am thinking maybe a credit union? Any suggestions?
Very Respectfully,
Hayden

rtysmith

Can you live without a branch?

That is the kicker. If you can get off the branch bandwagon which means phone/chat support only, focusing on non-fee ATM's (usually at drug stores; you can still use any ATM but usually capped on refund for fees), and are willing to do deposits via mail and or app, and online bill pay) there are LOTS of options.

I use ally.com, but this is mainly based on the APR they will pay me for my accounts, currently 1.85% on savings and .6% on checking if over 15K. This eliminates cash drag I experience with ANY local bank and or CU.

I like to keep a "more then needed" cash balance, so earning a return on it helps offset cash drag.

Jeffolucky

I keep a local account to handle about 3 months of needs. I then keep a larger amount in Citizens Access which currently paying 2%. I do wire transfers as needed.

jekamom

#3
I use State Farm bank for most banking (they refund atm fees) and then we have BBVA Compass that used to have a more local management we had a relationship with. Compass still lists us as "whatever they call folks they wished banked more with them so be extra nice customers" so we can have access to a big deposit with less clearing time.  Not much relationship anymore with  big banks. We have used Oakworth and  a local affiliate of Synovus for a signature loan, they have great customer service but I don't know how they make any money with so much overhead.







Sam

I have several banks, b/c each has optimum service/rates.

But, I've been w/ Citibank since 2001 b/c I needed/wanted an international bank b/c I was always traveling to Asia for work.

There are good synergies and better rates if you aggregate a certain amount with one bank.

First Republic is one of the best for concierge service imo. Very personal.
Regards,

Sam

Leigh

I used to work at Delta and have stuck with their credit union, which is now open to anyone. I love the customer service. When I use them for a mortgage loan, they've had competitive rates, and service the loan for the life of the loan. Not crazy about the MMA %% but everything else has been great.

Jon Sharpe

I've been with internet banks since 1998 and have all of my household accounts at CapitalOne360. Rates are good, service is good, it's everything I need. For my HELOC, I run that through my credit union. Investments through Vanguard.

Orphan

I focus on small local banks. I find their service is superior to the big banks. We even still have drive thru tellers.

Hayden

Quote from: Orphan on September 16, 2018, 05:50:46 AM
I focus on small local banks. I find their service is superior to the big banks. We even still have drive thru tellers.

How are the rates? I think that online banks are pulling my attention due to their higher interest rates.
Very Respectfully,
Hayden

Orphan

Quote from: Hayden on September 16, 2018, 07:25:54 PM
Quote from: Orphan on September 16, 2018, 05:50:46 AM
I focus on small local banks. I find their service is superior to the big banks. We even still have drive thru tellers.

How are the rates? I think that online banks are pulling my attention due to their higher interest rates.

Not that great. But I use them strictly for direct deposit, online bill payment, atm acces. I don't buy any financial products from them unless they have a deal on CD,s...

sevenplaces

I split deposits to my credit union and Salem Five Cent Savings Bank (both checking and savings there.)  Credit union for loans and Salem for higher interest earned.

I also have a Chase account for local cash deposits and withdrawals.  I use Fidelity and CapitalOne for investments, though my CapitalOne account is in process to convert to eTrade.

DarlynVMD

Quote from: Hayden on September 12, 2018, 10:44:42 AM
Hi FS Community,

Where do the majority of you bank at? I currently use Chase and I have not been super happy with their service. I am thinking maybe a credit union? Any suggestions?

I also use JPMorgan Chase. I haven't had too many issues w/ them to-date. However, I feel that almost the majority, if not all, brick and mortar banks have their fair share of issues resulting in customer dissatisfaction. I'm truly content w/ Ally, I haven't had an issue w/ them at all. I have a high-yield, and MM account w/ them. The rates are way better than your common banks, which is a great plus for me.


D

Rdizzle

Usaa, great customer service and some cool products

bf312

Chase for checking, credit cards. American Express for online savings. Always been happy with customer service/ features of both

goodcookie

We do our Regular everyday banking through PNC at the moment, but are in process of switching to Sun Coast Credit Union. Rated the #1 bank in Florida. An will be moving emergency fund to Alley bank to earn the higher interest rate. And we do our investing through Carver Financial Services that uses Raymond James. Very happy with them!

TravelGirl

How about for your business?  Do you use a different bank or the same to keep transfers between personal and business accounts simple?

Cheezus

I like Chase.  I don't bank for interest rates.  They have a great app, lots of branches, all the services you would want/need, etc.  The rare occasion I go in to a branch, they are pleasant enough and handle issues.  So few people go to branches nowadays that it's never busy either.

I think you are overthinking this.  Just stick where you are at.  You really shouldn't be putting so much thought in to a bank.  It's just a bank.

hyperobjeckt

I've used Ally for 5 or 6 years now, great service (much better service than the regional bank I used to use) and the comparatively high interest rates are nice too. The only annoying thing I've run into is that there is no way to deposit cash directly, if that matters to you.

Hayden

Quote from: hyperobjeckt on November 08, 2018, 03:41:48 PM
I've used Ally for 5 or 6 years now, great service (much better service than the regional bank I used to use) and the comparatively high interest rates are nice too. The only annoying thing I've run into is that there is no way to deposit cash directly, if that matters to you.

So what do you do when you run into the issue of needing to deposit cash?
Very Respectfully,
Hayden

hyperobjeckt

Quote from: Hayden on November 09, 2018, 10:43:44 AM
Quote from: hyperobjeckt on November 08, 2018, 03:41:48 PM
I've used Ally for 5 or 6 years now, great service (much better service than the regional bank I used to use) and the comparatively high interest rates are nice too. The only annoying thing I've run into is that there is no way to deposit cash directly, if that matters to you.

So what do you do when you run into the issue of needing to deposit cash?

I don't  ;D

It just becomes pocket money for spending at bars/food trucks/etc. Personally I am fine with that but I could see it being a dealbreaker for someone who needs to deposit cash.

You can do circuitous things with money orders, I think, but at that point I'm sure it wouldn't be worth the hassle vs a bank with a local branch.