Ask the Readers: Best Brick-and-Mortar Banks?
Published on - October 19th, 2007 (Modified on - February 18th, 2008) (by J.D. Roth) Last March I shared a list of the best online high-yield savings accounts. Rates have been dropping, and I intend to post an update. Meanwhile, I’ve received a couple of questions recently about the best choices for brick-and-mortar banks. Alex wrote, “I would love to see a write-up on the best banks for regular checking accounts (in terms of customer service, minimum balances, overdraft fees, etc.).”
Paul has a similar question:
My wife and I have three checking accounts, all with Citizens Bank. Our wages come into a joint account, and we “pay ourselves” a weekly allowance for daily expenses to our personal accounts.
But we do not like Citizens. I have a heck of a time getting its information into an online manager like Wesabe or Mint. Also, we’re paying fees on the joint account (it’s an old one), and Citizens have been less than helpful in removing those fees.
What brick-and-mortar bank do you recommend for our joint account that we can have wages go to, and have the ability to easily deposit checks (which rules out ING Direct), that has great online management, and can easily hook into online services? Fees are obviously nasty and to be avoided.
Could you recommend a checking account for us? (We’re in Massachusetts, if it matters.)
A good place to begin searching for a financial institution is the Bankrate checking & saving rate search tool. But while this will help you compare the stats for various banks, it won’t help you with the intangibles:
- How convenient is the bank?
- How is the customer service?
- What is the web interface like?
- What are the bank’s check-clearing policies?
- Do you have free access to cancelled checks?
For that sort of information, it’s useful to get feedback from current customers — from people like the readers of Get Rich Slowly!
Of course, different people can have conflicting experiences with an institution. I loathed U.S. Bank when I had my account with them. Yet Kris thinks they’re great to work with. (The difference, I think, was that she has a no-fee account, which U.S. Bank would not give me. Also, because I was a poor money manager, I was hit with far too many $28 overdraft fees for my liking.)
A couple years ago, I switched to a local credit union. I love it. Sure, there are only four branches. No, there aren’t many ATMs. But the people are friendly, my accounts have no fees, and the web interface is superior to the one at U.S. Bank. My favorite feature: no bizarre check-clearing rules — you make a deposit, the funds are available.
What about you? Can you recommend a good brick-and-mortar bank for Alex and Paul? Where should they open their checking accounts? Which banks should they avoid? Or does it all boil down to personal preference?
Addendum: In the comments, CP points to an article by Liz Pulliam Weston that describes why you should ditch your bank for a credit union.
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I have been a Wells Fargo customer since 1998 when NorWest bought them and took their name. I have never had any problem with them. Having used several of their branches, I can say I’ve always had acceptable customer service with their employees.
The website is both easy to use and secure (I believe that they have been named Most Secure Bank Website on more than one occasion).
On a side note, I must recommend AGAINST using TCF at any and all costs. I have almost half a dozen family members and friends who have used them in the past and all of them experienced numerous problems with errors in the bank’s favor, difficulty in clearing up bank errors, and long delays in deposits being credited to their account (sometimes over a week, even for cash deposits made to a teller).
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I’m surprised to read all of these positive comments about Bank of America, because my personal experience with them is/has been terrible. Without going into a long tirade, the main things I don’t like about them are:
1) Telephone Customer Service: Anytime I have a problem with my credit card or checking account that I have to clear up, I end up having to call them NO LESS than three times before the problem is taken care of. I will explain the error and the customer service rep will promise to correct it, and then nothing happens. So I’ll call again, they’ll apologize that the error was not cleared up after the first call, and then promise to correct it. Again, days later, nothing happens. This process is usually repeated several times until I start taking the names and numbers of the people I speak to and vow that I will be in touch with them in 48 hours if my problem has not been cleared up. Not surprisingly, they usually get things taken care of after that.
2) Hidden Fees in Online Interface: It’s not that they charge fees that I don’t know about necessarily, it’s that they don’t list these fees online on the list of recent account activity. For instance, the monthly service charge on my credit card doesn’t show up, it’s simply added. My option is to either do the math myself to find out the exact amount and if it’s accurate, or to download the information to see how they came up with the number. Except the information can only be downloaded in formats that most computers can’t open unless you have a program like Quicken (if you want a simple PDF or RTF that details the fees, too bad). I find this practice shady especially since my Chase Bank Account and my girlfriends Wells Fargo Account automatically have their fees listed.
3) Fluctuating Interest Rates: In addition to not listing the fees on your account activity, they don’t tell me my interest rate online either, and it seems to change to their discretion. My minimum monthly payments sometimes go up drastically from where it was in previous months (and I wont even have made any purchases). When I call about it, they usually admit it was a mistake and, by the third or fourth call, will correct it and bring it back to normal.
That was a little longer than I anticipated, but, in short, I have to say that I would not go with Bank of America if I could do it all over again. They are fine as long as there is no computer or human errors regarding your account, but unless you have some strange way of preventing that, prepare for them to be a pain in the ass. My girlfriend seems to be very happy with Wells Fargo, so based on her experience I might recommend them.
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Also, with DCU I can mail in my paychecks if I’m not near a branch, though I set up direct deposit through work (and they give you a bonus on your savings interest rate if you do). They’re a member of the credit union ATM network, so I can avoid fees, and they refund fees from other ATMs up to a certain amount (I’ve never gone over). I’ve used my card at ATMs in Europe with no problems and no extra fees. It also interfaces easily with Quicken, which is a bonus for me.
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This probably wont be too helpful since they are a local bank, but I love Bank of Hawaii. I have My checking and Savings with them. My savings is no fee as long as I keep the balance above 500 dollars and my interest rates goes up with the amount of money I have in the bank.My checking is no fees, no minimum balance, the online account management makes tracking spending easy, makes money transfers easy and allows you to download your history to MS money or quicken if you want. The staff is always friendly, and I rarely wait long in lines while there.
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I recommend using a local bank. Our bank is small, but it is great. The larger banks, like Wells Fargo, are crazy with their fees and have insane rules and things. You have to pay to wire money, and then they charge you to accept money, so you pay on both ends, even if both accounts are your own.
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My banking is done at a credit union. My car loan was from there…and I’ve never actually been to the lone office. All my banking can be done online or on the phone–and they have a deal with a major bank that there’s no fees at their branch locations. It’s worked well for me, and I enjoy the interest earned on my checking account.
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I agree with Lazy Man that I like a bank with lots of local ATMS and no fees. For me, I’ve had success with big national banks.
That said, the decision boils down to preferences. As a lot of the comments suggest, you want to consider other related questions like do you want other bank services like loans? Where do you hold your savings?
It is how you combine various accounts that determine if your decision is overall good for your finances.
For instance, I am not a big fan of combo products like checking accounts with high interest rates. I do better with a no-interest checking where I put “just enough money” plus a savings-only account with a much higher rate than the combo checking.
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I haven’t had an account with a bricks-and-mortar bank in nearly 20 years. I use a credit union for all of my banking.
Having online access and having a local credit union service center locally makes it work for us, even though the credit union offices are all 2000 miles away from us now.
We find the credit union more friendly and customer-oriented than the for-profit banks we’ve dealt with.
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I’ve used US Bank for several years now, and I’ve been very happy with them. I’ve never had a fee. The one overdraft charge I had was reversed because it was an error on their part (they didn’t link my checking and savings accounts like they said they would.) They have great interest rates on their credit cards. Their customer service is top notch. The only complaint I have is their web site could use a good revamp.
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I know it’s not B&M for most, as they’re in San Antonio, but my reccomend is USAA, if you are current or retired military. We’ve tried many, but there’s been no equal.
Outstanding customer service; free ATM withdrawals anywhere (they reimburse you for all fees); free checks (when you run out, order more online, they ship them to you free); free checking, free billpay; a great website; 0.5% cash back for all debit card purchases (when done as credit); a great modern website, all statements available online or via mail; Deposit @ Home- I endorse and scan my checks to deposit on my scanner via the website interface, enter the amount, and funds are available immediately, i then void the check and shred it.
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I’ve been a BoA customer since my freshman year of college and I’ve about had it with them. When I didn’t have but a few transactions a month it wasn’t a problem, but now that I have a steady income and debt to pay off I’ve a little tired of a number of their practices.
I moved from California to Seattle, which aren’t apparently part of the same country anymore, so it is always a pain in the ass. When I reordered checks the still had my old address on them, even though I had changed my address with them and they sent my statements (and checks!) to the correct address. I requested they fix it, and never received the checks. After a month I hadn’t received them and cancelled the order, since I only write one check a month, for rent. The rest I pay online.
BUT, whenever I go into the branch to get a money order for rent (since I’m now out of checks) they always debit my account TWICE. One of them is always pending and never actual posts to the account, but BoA removes all pending transaction payment funds from the account the second they appear (while only making a small portion of deposits available). It basically wipes out my balance for 4 days every month (since I try not to keep much money in my checking account).
I have a VISA card with them as well, so I have both accounts showing up in my online banking list of accounts. When I make a payment to the card the money is always out of my account 2-3 before the payment even shows up as pending on the CC account. A nice way for them to juice 2-3 extra days of interest out of me. I’ve had it with them and I’m switching. The branch service has been great, but I only use the branch once a month, and it’s not worth the hassle of dealing with their practices and very unhelpful phone support.
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I recently opened a Bank of America account in addition to my long standing Washington Mutual account. I’ve been really impressed. They did charge me some unexpected fees, but they quickly reversed them without a second’s hesitation. I prefer to bank online or via ATMs and they have great features I haven’t seen elsewhere.
1) The scanning ATM’s that accept instant deposits of cash and scan individual checks.
2) The ability to instantly transfer to other Bank of America accounts online. My boyfriend and I use this feature to pay each other back for shared expenses.
You still have to be careful. As mentioned in a post above, when overdrafting, they go for the largest bill first. So, any small purchases you made that day will also get hit for fees, too. This has happened to a friend more than once Ouch!
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Another happy WaMu customer here. I think they offer the best package all-around, and there’s one at every other corner in my area. In your online statement, you’ll have access to scans of canceled checks, which is really nice if you write a lot of those.
The only nitpicks I had so far were a 7 business day clearing policy for check deposits of new customers, and a $10 incoming international wire transfer fee.
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Its often a good idea to check out some local banks while you are searching – and if you don’t qualify for a credit union. I use a smallish local bank. The staff recognize me (and I don’t stop in that often), they are always helpful and most of the time their rates are as good as or better than the big guys. And if I’m looking to buy CDs they’ll tell me if their rates aren’t so good right now and suggest that I look around! There are so many “service institutions” that provide lousy grumpy service. Good friendly service is worth a lot.
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I find I get the best deal at smaller community banks. I also live in MA, and had great luck with South Shore Savings Bank and Cambridge Savings Bank.
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And for no-ATM fees, see if you can find a list of banks which are part of the SUM network. (Both banks I recommended are or were SUM banks, as was Citizens.)
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Commerce Bank: I love my bank.
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I like WaMu. Lots of ATMS, at least where I live, and I don’t pay fees for…anything.
People I know who have B of A and Wells Fargo are gradually switching to WaMu and local credit unions because they are sick of the fees.
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In MA, the SUM network’s great. I actually just moved my checking account away from my local university credit union, which had regular, pitiful B&M interest rates, to Salem Five, which is a local bank with an online high interest checking account (rates just lowered to 4.7% APR). They have a few local branches including one in downtown Boston, but they also participate in the NYCE deposit program, so I can deposit my checks at most ATMs. Plus fee-free with ATM fee reimbursement up to $15/month (though I’ve never hit this with SUM). Good online banking, though I’ve never tried exporting data.
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I’m a big fan of WAMU, but I don’t think they have branches in MA. If you’re settled where you are living and aren’t planning to move, I would have to vote for a credit union. I love them, but I move around too much for that to make sense for me.
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I’m Canadian, so my advice isn’t much help here, but I’ll share my tip anyway because it might be applicable somewhere in the US.
Use a line of credit for all your banking.
Seriously. I have one, and it gives me:
- free cheques
- no services fees
- no overdraft charges
- standard bill payment/online transfer features
Sure, I pay interest if the balance goes “negative”, but it’s usually just a few cents, which is FAR better than paying $20 for an overdraft. I don’t make any interest on the account, but I just transfer the bulk of the funds to my ING Direct account to make some interest. Best of all, I NEVER have to worry about available balances and overdraft limits. If I write a check for $7000 and only have $4000 in the account, and the check clears before I get the other $3000 deposited, I typically pay my 10.25% interest for 1-2 days. $1.68 for being $3000 “overdrawn” for a couple of days.
If there are any banks in the US that would let you get away with something like this, then I say go for it!
(I bank with TD Canada Trust here in Canada, by the way.)
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I should add one thing to my last post: I do pay very careful attention to avoid being “overdrawn”! 10.25% interest is still about 10.25% more than I want to be paying.
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I’ve been using Wells Fargo for about 8 years now. I love it. I chose it because I wanted a bank with an ATM on my college campus, a physical branch within walking distance of the campus, and branches and ATMs in my hometown, too. I love the online banking – it’s super easy to use and I love all the extra sections about investing and saving. I joined Wells Fargo with their student account.
I did have a credit union account when I was younger through my dad’s work. I liked it and wouldn’t mind using a credit union again. You just have to be aware that not all credit unions are the same. I really dislike the local credit union here that I can use – they had a surprisingly high number of fees and minimum balance requirements.
I’m also a little surprised at all the BoA compliments. I chose Wells Fargo over BoA because BoA was going to charge me one crazy fee after another. I listen to my friends complain about BoA a lot. Only recently has one friend said something good about it – they reversed a fee on his credit card after he called them…but the fee shouldn’t have been there in the first place.
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I use Wells Fargo and I’m in the right account. I have a savings and a checking account with a debit card, checks, online banking, online bill pay, credit card. In order for my account to stay free I have to keep my balance at a certain amount or…..I can have an automatic transfer of $25 dollars from savings to checking every month. I got hit with overdraft fees but like every other bank, you need to know how to manage your money.
You need to balance a checkbook, write down how much you spend, check online, ask the teller to give you balances with any pending transactions. I’d rather have them decline my debit card if I dont have enough money in my account. Wells Fargo charges you for online bill pay if you have a specific account or if you exceeded the amounts of payments for that month when Wamu offers the same thing completely free regardless of account or use.
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Personally in the MA area I love Century Bank – very basic service – but I just need a simple Checking account with the lowest possible fees and they do it and do it reliably.
http://www.century-bank.com/personal/check_cheaccount.cfm
-Frank
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http://www.cnbt.com
City National Bank of Taylor (Texas)
I live in ATLANTA and I’ve used them for my primary checking and savings for four years
CHECKING:
-no minimum
-no balances
-free checks
-no atm fees at foreign atm’s
-THEY REFUND THE FOREIGN ATM FEE WITHIN ONE BUSINESS DAY (this is my favorite part)
-free billpay
-free transfers
-4.09% interest
SAVINGS
-no minimum
-no fees
-4.59% interest
I’ve yet to find anyone that can beat that interest rate on checking and savings with NO minimum balance
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Hi,
I have to agree with Adam (#60) above. USAA is absolutely unparalleled, in my opinion for just about everything. I live in MA also, and used to bank with BayBank, which, through a series of acquisitions is now BofA. I never once had a problem with BayBank or it’s successors unto BofA came along and started nickel and diming me to death.
I’ve been a USAA customer for 15 or so years, but they were simply my auto/homeowners insurance provider. After getting boffed by BofA, I switched over entirely to USAA for all my banking needs.
As Adam pointed out, they re-imburse for ATM fees, give you .5% back on their debit cards, and 1% back on their platinum credit cards. Additionally, since you mentioned depositing checks must be simple, I don’t think it gets any easier than with USAA. Though they don’t have local branches, you can mail your deposits in, or, you can *scan* the check with your PC, and upload the image to their website and in most cases, the funds are available within a day or so.
Because USAA was built by and for military personell, they’re very overseas friendly as well. So they’re a great if you intend to do any foreign travelling. Of course, in order to become a USAA member, you need to qualify, which essentially means you need to be in or related to someone in the military. Their website (http://www.usaa.com) has all the information.
I hope that’s helpful.
Seeya,
Paul
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I’m a member of a credit union (USC Credit Union, I got it when I first went to college) that’s about to switch to a real bank. I’ve already transferred most of my savings to my HSBC account, and when I can I’m going to finally switch to a regular bank for my checking. My credit union is only open 9-5 Monday through Friday, making it essentially impossible for me to go to the bank without taking time off work. They may have better rates and terms, but it’s sorely lacking in convenience.
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I bank with WaMu and have mixed feelings. Most of the time, everything is fine. But when they screw up, they really, really screw up. Recently, I had major hassles with getting a new debit card and PIN. In total, it took two full weeks to receive both. Then at the end, they told me I could’ve been using the new debit card as a credit card (so I could’ve gotten around entering a PIN). I also had CS reps repeatedly be unable to answer questions (“It’s Saturday. Can you tell me if people are working in that group today? [before you transfer my call]) — even after “checking on it.” I also repeatedly had CS reps just give me bad information (on talking to a manager “Well, I don’t know where she got that information from, because it’s wrong.” — I kid you not, a manager said this to me). When venting my frustration about their lack of speed and finesse about how they handled the situation, I asked the rep why I should continue to bank with them. He completely dodged answering the question until I pressed him (“well, you can choose to put your money wherever you like”). Or, as my friend put it “Yeah, they answered your question — they don’t care about you or your accounts.” And I’ve banked with them for 15+ years. It’s really nice to know that my bank only values my business if I have lots and lots of cash in my accounts (I did until I opened my Ing accounts, so I could actually earn more than .2% APR).
If WaMu wasn’t so prevalent and easy to access (I’m self-employed, so don’t have access to direct deposit), I’d switch to an online bank in an instant. But, I never pay any fees, and they are convenient, so…
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I use USAA and Navy Federal for all of my banking, housing, insurance, and credit card needs. I haven’t used a “normal” bank in years, and I never get charged fees for anything.
I’m so happy my dad was in the military because if he wasn’t connected, I wouldn’t be as financially savvy as I am today.
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[...] JD wants to know who you think is the best brick and mortar bank? [...]
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I will never go back to a McBank like USBank, BoA, etc. after my experiences with a local credit union, as well as with small, local banks.
Even though I haven’t had an account there and walk in about once every 2 years, whenever my mother writes me a check and I go to cash it, their first response is, “Oh, you’re xxxxx’s son? You’ve grown!” It’s nice to be recognized like that. This is a bank most of my family has used for the better part of the past 40-50 years.
Myself, I am with a local credit union since I live in a different city and couldn’t be happier with the small-town feel of the service. Being addressed on sight by name always scores points in the customer service department.
One other plus for credit unions is the CUServiceCenter program many CUs now participate in, which let you conduct fee-free banking at any of over 2,800 other credit union locations. Very few people actually know this program exists unless they go to their CU’s web site. Information on it can be found at http://www.creditunion.net/AboutSharedBranching.aspx
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I will join in on the credit union cheering. Someone above mentioned the Co-Op Network, I have a guest post on the subject lurking here on the site.
http://www.getrichslowly.org/blog/2007/07/18/the-co-op-network-another-reason-to-consider-credit-unions/
The article contains a pointer to the web site where you can put in your City and State or ZIP code and get a list of nearby ATMs. If you have enough locally (check for deposit-taking units) you can use any participating credit union. Example: I just looked up my city, there are 7 no-charge ATMs in the city I can get cash at, of these, 3 take deposits, the nearest of these is 10 minutes away on foot if I feel like exercise.
If you have a connection to the air travel industry, you may want to see if you qualify for Wings Financial CU. (Formerly Northwest Air CU.) I got in by a family link. The web site is revised periodically and has bill pay and all the usual stuff you expect from modern financial organizations. Check images are available and there are various ways to transfer money around.
It’s been 3 years since I actually had to visit the branch during business hours. (If it’s on the way, I’ll stop by the ATM they have there.) I was able to get a small personal loan and setup an overdraft line of credit over the phone. (Tip: Always write in your ATM transaction BEFORE you use the machine, then if it fails to give you a receipt, you don’t forget later.)
I can’t speak for how they handle Debit cards as I have more sense than to use one on a live checking account. While they will try to give you a debit card by default, you can ask for an ATM-only card and they will give it to you. Also, you can ask for a replacement ATM card when yours gets worn out (I’ve had to do this 4 times now) and they do not deactivate the old card until you activate the new one upon receipt. One drawback, new cards have new PIN codes, this can be changed at STAR ATMs.
Poke around on the web, you may find a credit union that affiliates on your profession, and most such CUs will let you apply by mail.
Unless you expect to need frequent presence at an actual office, it is no longer much of a concern if your financial institution is anywhere near you.
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M&T Bank
I was with AllFirst (Maryland) for many years, actually back in the days that it was First National. I have very few issues with them and their staff was generally helpful and pleasent. A couple years ago they were absorbed by M&T Bank. Just about a year ago they started to charge fees for everything. They even began to hold CC-POS purchases for up to a week (claiming that they had not posted), waiting until just before my paycheck would clear, and then charging fees for overdrafts going back 7 days. The funny thing is that the account never reached a negative balance. Reviewing months worth of records from Quicken and their online account access I found that the only time my account would ever reach a negative balance was due to one of their $37 overdraft fees. In the course of 90 days I was charged over $1500 in overdraft fees.
I closed my accounts on the spot and went to the State Employee’s Credit Union of Maryland. I use my accounts the exact same way and now almost 8 months later have never had a single fee of any type. The CU also offers regular financial education courses that are free of charge focusing on audiences from children, to teens, to 30 somethings, to the retired crowd. Go to a credit union and never look back.
I must also add that I have a trust that is handled by Wachovia’s Wealth Management Office. I could not ask for better service than they provide.
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Peachy,
I’m curious what you use Navy Federal for. I too am a member of both Navy Federal and USAA, but I find that USAA has everything I need and more, and their rates seem better than Navy Federal’s. I have a checking/savings account with Navy Federal, but other than leaving some money in them to keep them open, I don’t think I’ve used them in about 15 years.
Seeya,
Paul
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I enjoy the hybrid services of Charles Schwab and Charles Schwab Bank. I’ve had a brokerage account with Schwab for about twelve years, and have been banking with them for two. The only limitation is no cash transactions(except ATMs). With Schwab Bank you get 4% interest on your checking account balance, ATM rebates (domestic and international), bill pay, etc. The free ATM use is by far my favorite feature next to the interest. They rebate ALL your ATM fees at the end of the month. Even if you’re in another country you just have to find an ATM with a VISA logo on it and the transaction will be free (minus that damn 1% VISA charge for international transacitons). But, it’s still easier than traveler’s checks and cheaper than switching currency at the airport. This completely makes up for not being able to deposit/withdraw cash at Schwab brokerage locations.
For local banking (savings bond cashing/rare cash deposits) I’ve had a great experience with Washington Mutual. I’ve had one of the newer free checking accounts for about a year. Good service and they automatically deleted an overdraft charge after a deposit took longer than expected to clear. But I rarely, if ever use this account. It’s really just there if the need should arise.
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Just before my old bank was acquired by the Wells Fargo, its employees lost a $30,000 savings bond and then tried to tell me they had put it in the mail and it was my responsibility to get the Post Office to track it down. I had to sic the federal banking commission on them to get the bond back–after I filed a complaint, one of their vice presidents showed up at my front door to deliver the thing.
Wells Fargo had a very bad reputation. I switched to another national bank. Though I never bounce a check and my credit is excellent, every time I turned around I was being nicked and gouged by another ridiculous charge. Human beings were not available by telephone–and they actually started charging customers for having the temerity to go TO the bank and stand in line to speak with a teller. On the rare occasions I could get through to humans, they acted like they were doing me a favor to take my money and use it to generate a profit for the bank.
I finally closed my accounts and moved my money and automatic deposits to a credit union. What a difference! Human beings are always accessible and they are ALWAYS helpful and kind. No costs whatsoever are associated with checking, and it’s easy to get a decently paying money market account to stash your monthly savings. Once you have a few shekels saved up, you can get a CD that pays more than 5%. Loans are incredibly cheap and easy to get.
I can’t imagine ever doing business with a bank again.
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It seems no one has been clued into the best part of the modern Credit Union. All of the Credit Unions I deal with are members of the the CU Service Center network. They allow a concept known as “shared branching”. What this means to you and I is that you can do daily banking at any Credit Union in the country that is a Shared Branching facility. I live in the Midwest, but my CUs are in Texas and California. I wouldn’t know the difference, since I can deposit and withdraw at my local branch.
Its a very power concept.
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You said of your local CU that there weren’t many ATMs. Check to see if they are a member of the CO-OP network – a network of credit unions that allow members to use each others machines at no charge. It is nationwide and locations can be found here: http://www.co-opfs.org/public/index.cfm
Here in San Diego, there are many different credit unions and there are ATMs all over the place that we can use. It makes a big difference.
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I also live in MA, also have an account with Citizens, and also really dislike them. (I have to keep the account for dumb reasons, otherwise I’d close it immediately. My favorite Citizens Moment was when I learned that I kept getting charged insufficient balance fees–even though my account was well above the minimum balance–because the two linked accounts I had were opened in different states, which somehow meant that balances couldn’t be combined for minimum balance purposes.)
I would highly recommend Bank of America–they have branches and ATMs everywhere around here and half the country (and they seem to be the only bank in Camberville to have a branch that stays open past 5pm), the website is great, and I have never had a problem with in time I’ve had my account with them, which was since they bought Fleet in ’04.
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Commerce Bank simply rocks. Its one of the best banks and customer service is marvelous.
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Hi everyone – I’m the Paul who initially asked the question – I’ve been catching up on the thread, and am overwhelmed by the response!
I thought I’d check in and give people an update.
First some background – my wife and I both work for a technology firm, just outside Boston. Yet we live in Central Mass, over 50 miles away.
We also both travel all over the country for business – which means when we’ve started looking at Credit Unions, we’ve not found many with the flexibility we need. So we’ve reluctantly scratched them off our list.
We do have a local bank (local to home, that is), that appears to be pretty good – no fees, we drive past it on our way to and from work, seems to have what we need online even. We’re going to open a checking account this weekend to see if it will work for us.
I’ve been enjoying my ING experience for my personal account – it is fantastic to be able to do almost everything online! mint.com likes them (it hates citizens, and I’m yet to look into wether it will like our local bank).
It was interesting to read the opinions of the large banks! It seems for every one who has a good experience, there are people with bad ones. It seems to be such a crapshoot!
Thank you for your feedback, suggestions and advice!
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I used to bank with Bank of America. I had the account set up so that most of my banking was through the ATM. One day I started to deposit my paycheck from a new job, and found there were no deposit envelopes. I went inside to get one and was told they were out and I would have to go through the line. Then they charged me for talking to a teller.
As soon as I found out I closed my account and went to USBank. They have much better customer service, and have never charged me a single fee.
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My girls and I we’ve owned more prepaid credit cards over the years than I can count, including Ready, Greendot, etc. But, the last few years I have found that one is the best for are family AccountNow Visa. Why? Because I was happy to discover how well-designed and no sweat to use the underappreciated (and widely mocked) AccountNow Visa’s are.
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