So Dave, you have over $100K in your account?
That's the only reason to spread your money across different accounts.
(puts Dave back on ignore list)
Having all eggs in one basket has to be one of the dumbest things I've ever seen posted.
Good thing you prefaced with "Disclosure - I am a banker...".
I need a B&M bank so I can deposit the occasional large check and quickly transfer funds to USAA, and that's its only purpose. I've held on to my BoA for a long time but now monthly fees are up to a ridiculous $13. On top of that they reduced my $5000 limit CC that I never used to $200 a while back. Any suggestions?
I'm looking into Georgia's Own credit union myself. They seem to have pretty decent services and no fees.
no better than Wells Fargo, really.Is Chase really that good of a bank or just another evil?
no better than Wells Fargo, really.
I will leave my bank immediately if they try to charge me a monthly fee.
Disclosure - I am a banker...
Times are changing, and banks' profits have been slashed greatly, so look for ALL major banks to be implementing changes, and they will ALL have some sort of requirements to be met in order to have those service fees waived.
The bottom line is that checking accounts have not always been free; it is a relatively recent development. If you want to keep your business spread between several banks, that is your decision and nobody will argue with you, but you'll probably find that banks will be more lenient with you if you qualify for and maintain a higher level account by consolidating your finances with one institution.
The banks profits have been slashed... Really? Why do you always hear about all these big banks and their billions in profits? BS on this statement.
Free checking accounts are a new development? I am 56 years old and have never paid for a checking account. Again BS.
Find a good credit union. You will be happier and better off for it.
I don't really get this, does USAA put a hold on the funds that your local bank doesn't?I need a B&M bank so I can deposit the occasional large check and quickly transfer funds to USAA, and that's its only purpose. I've held on to my BoA for a long time but now monthly fees are up to a ridiculous $13. On top of that they reduced my $5000 limit CC that I never used to $200 a while back. Any suggestions?
The banks profits have been slashed... Really? Why do you always hear about all these big banks and their billions in profits? BS on this statement.
Free checking accounts are a new development? I am 56 years old and have never paid for a checking account. Again BS.
Find a good credit union. You will be happier and better off for it.
They only charge fees when you keep very little in the account.
https://www.wellsfargo.com/checking/
Their terms seem VERY reasonable. If you are keeping less than $500, get a secured credit card.
Disclosure - I am a banker...
All banks have different types of checking accounts, and each of those different accounts have different fees or requirements. If you talk to a banker about it, they will likely recommend that you change your account to another type that may be a better fit for you.
If you bring more of your business to any bank, and upgrade to a higher level account, you will likely not have to deal with these type of issues. Times are changing, and banks' profits have been slashed greatly, so look for ALL major banks to be implementing changes, and they will ALL have some sort of requirements to be met in order to have those service fees waived.
The bottom line is that checking accounts have not always been free; it is a relatively recent development. If you want to keep your business spread between several banks, that is your decision and nobody will argue with you, but you'll probably find that banks will be more lenient with you if you qualify for and maintain a higher level account by consolidating your finances with one institution.
I don't really get this, does USAA put a hold on the funds that your local bank doesn't?
You can put checks into your USAA account with remote deposit on their mobile app, or deposit it at a B&M UPS store where they have a partnership. There is no reason to send anything in the mail now.
IMO all the large national banks like Wells Fargo, Chase, US Bank, etc are pretty much the same. The one and only benefit to banking with them is more locations/ATMs, which can be important if you travel frequently. On the other hand you can expect to get hit with fees at every opportunity they have and the service is always sub-par.
I have been convinced for a long time that the best way to do your banking is to keep accounts with an online bank like USAA, Ally, or even the new Amex or Discover banks where you do the majority of your transactions. They have a lot lower overhead so the fees are negligible and some like USAA will either refund ATM fees back to you or have partnerships with large ATM networks. At the same time you should keep an account at a small local/regional bank, or even better, credit union for cash deposits, getting certified funds, etc. The fees will still be less but the service will be 10x better than the nationals. And many credit unions are on the Co-Op network as well so can avoid ATM fees.
I don't really get this, does USAA put a hold on the funds that your local bank doesn't?
You can put checks into your USAA account with remote deposit on their mobile app, or deposit it at a B&M UPS store where they have a partnership. There is no reason to send anything in the mail now.