where do you do your primary banking?

[spacejamz]

Southwest Airlines Credit Union...my original work credit union merged with them back in the 90's....They have been awesome...

 

[dmcowen674]

changes were pushed through in August that you need to have an average daily balance of $1K in checking (whereas prior, it was an average balance of $1K in combined checking/savings)

granted it's all my own fault because I let my account go under where it usually sits so I could pay off my credit card before Christmas shopping, but still... I think it's a sign for me to GTFO of this shitty bank.

It's clear banks are only for the rich.

 

[kranky]

For those of you who use USAA, do you get free ATM usage?

Can you do deposits by snail mail?

(My father-in-law was in the Coast Guard and I have been thinking of switching to USAA instead of our current bank and insurance since I have heard such good things about it.)

MotionMan

No USAA charge for up to 10 ATM transactions per month and they reimburse up to $15 per month in other banks' ATM fees.

They give you postage-paid envelopes for deposits by mail.

And you don't necessarily have to have a military connection for their banking and investment products (they are available to anyone) but you do need it for insurance products.

 

[nageov3t]

I think I've decided on Charles Schwab... it was down to them vs PNC, and CS just seems to have better perks (no minimum balance, deposit checks via smartphone, unlimited ATM fee refunds, no foreign service transaction fees for those random trips to Canada).

PNC's biggest selling point is that they've got an office across the street from my own office (and the ATM at the deli that I go to 4-5 times/week is PNC), but their reimbursement policies for outside bank atm fees sucks (because again, you never know when you're going to need to make a withdraw and not have access to the right atm)

edit: and while USAA has plans for non-military personnel, I'd be stuck sending in check deposits via snail mail

 

[Train]

edit: and while USAA has plans for non-military personnel, I'd be stuck sending in check deposits via snail mail

I've been a USAA member since 2006 (Wish I had done it sooner)

I have yet to send in a single deposit via postal mail.

deposited every check via scanner up until their Android app came out this year, I now deposit checks about 20 seconds after I get them, with my phone.

In both cases funds are available INSTANTLY (provided you have your USAA master card attached to your checking as back up)

 

[kranky]

USAA requires people to be eligible for insurance products (i.e. a military affiliated member) in order to use the scanned deposit feature.

 

[alkemyst]

I travel a ton so Chase is my checking bank.

For real banking I stick to Citibank.

 

[rcpratt]

USAA requires people to be eligible for insurance products (i.e. a military affiliated member) in order to use the scanned deposit feature.

You also have to have a credit card with them, I believe.

 

[kranky]

You also have to have a credit card with them, I believe.

Yes, or be eligible for one.

 

[Don Vito Corleone]

I use USAA for all of my banking and insurance. They rock. Unless the company suffers a major change for the worse, I will be a customer for life.

 

[mugs]

I've used PNC for probably a decade, since they bought the bank that bought my bank. I've never had a complaint about them, and they're the only big bank that I never hear anyone complaining about on the Internet. I always hear complaints about B of A, Chase, Wells Fargo, Citi, etc. Nothing bad about PNC, and they're the 5th or 6th biggest in the country.

Like a lot of big banks in the last year, they've recently altered the terms of their free checking. I was really impressed with the way they handled it. They called me and went over the new requirements, verified that I met them (I think something like 2 $500+ direct deposits per month is enough, or ~$1500 minimum balance, or one other option), then converted my account to their new free checking.

They also refund all ATM fees.

 

[JulesMaximus]

I bank at the Monopoly Bank of America of course..

 

[Jawo]

I've used my father's work Credit Union for ever (had an account for as long as I remember >20 years). No fees, and can do my banking at ANY credit union for free (which is nice as my CU only has like 2 branches). The credit card I have though them doesn't have rewards or anything, but then has low interest.

 

[Orsorum]

BECU and USAA, primarily. 401k through Merrill.

 

[Dacalo]

Fidelity for main.

Wells Fargo Bank just in case I have to deposit cash and such.

 

[chusteczka]

I've used PNC for probably a decade, since they bought the bank that bought my bank. I've never had a complaint about them, and they're the only big bank that I never hear anyone complaining about on the Internet. I always hear complaints about B of A, Chase, Wells Fargo, Citi, etc. Nothing bad about PNC, and they're the 5th or 6th biggest in the country.

I stay away from the big banks; such as noted. Unfortunately, PNC purchased my previous local bank. I intend to switch to HSBC for business banking since they allow low cost international wire transfers online.

Unfortunately, Navy Federal Credit Union does not provide online wire transfers for my business account, and it is always good to have a local bank for teller and ATM access.

Here are my complaints of PNC.

Complaint #1 for PNC:
1. MidAmerica Bank international wire transfer cost: $17
2. National City purchased MidAmerica Bank - international wire transfer cost: $25
3. PNC purchased National City with federal bailout funds - international wire transfer cost: $60

Complaint #2 for PNC:
It is impossible to initiate a wire transfer online. A bank visit is required.

Complaint #3 for PNC:
Wire transfers require in-bank assistance. Only the branch manager has the needed access. Other assistants have limited access to the wire transfer system, thereby making the process more difficult for the assistant and customer. Yet the full fee is still charged.

Complaint #4 for PNC:
If a person deposits or withdraws more than a certain amount of cash through a teller (I believe it is $4k or $5k), a percentage based fee is taken from the account at the end of the month with no prior notice. Not even the tellers are aware of this cash-based fee. What kind of bank charges a fee to handle cash?

Complaint #5 for PNC:
They used federal tax-payer money to purchase my small local bank and charge me higher fees.

Complaint #6 for PNC:
They do not allow internet fund transfers from my personal account to my business account and vice versa.

Complaint #7 for PNC:
MidAmerica Bank tellers were Hot Polish chicks. PNC tellers are butt-ugly.

Complaint #8 for PNC:
PNC bank tellers, assistants, and branch managers never miss an opportunity to tell me how great they are as the #5 largest bank in America. They quickly lose their smug smile when I inform them my tax dollars allowed them to purchase my bank and their excessive fees allow them to be #5, and they definitely did not earn that position through their service.

 

[boomhower]

I use a local credit union. They are the credit union for state employees so branched are over and ATM's are everywhere. The service is good and has the usual credit union perks like reimbursed ATM fees when your out of network. I really don't have any complaints now that they are finally linked up with pageonce..

 

[RichieZ]

Just a tip - I remember reading a story from someone with the same setup. He paid his Amex from his Fidelity account and didn't pay attention, accidentally putting in a payment amount of $22,000 instead of $2,200. Fidelity cheerfully sold securities from his account to raise the cash and paid the $22,000. Had he used a regular bank account, the payment would have simply been declined due to non-sufficient funds.

yea my amex card is auto pay so that can't happen. i also pay my chase card from fidelity, but it comes out of a MyCash account - basically checking account and it isn't tied to securities.

i could see if somebody how this might happen if somebody tied their main brokerage account to their credit card/bill pay. this caveat probably applies to all brokerage accounts that people use for cash management.

 

[fatpat268]

I see a lot of people mentioning USAA, and I use them for my car insurance (at a great rate, btw), but is it worth switching to them as a bank?

I currently have Chase. I pay no banking fees so long as I have a direct deposit. I have two credit cards there, a local branch, and good customer service when I accidentally overdrafted my account two years ago. Hell, even their online system is halfway decent now. The only thing that bugs me are ATM fees (hell, I got charged $3 because I stuck my card in an out of network atm, even though I immediately canceled the transaction).

Is it worth the hassle at all?

 

[Red Squirrel]

I'm with Royal bank, and only them. Not really any particular reason except for that just happened to be where I got my first bank account as a kid, and I just ended up adding on to that. Now I have a mortgage, couple savings accounts, credit card, credit line, RRSPs and use only that bank as everything is in one place and easy to manage online. I've thought of getting another bank account at another bank, since I'm not sure if it's good to have all my eggs in one basket, but I doubt RBC is going anywhere.

 

[Angry Irishman]

I see a lot of people mentioning USAA, and I use them for my car insurance (at a great rate, btw), but is it worth switching to them as a bank?

I currently have Chase. I pay no banking fees so long as I have a direct deposit. I have two credit cards there, a local branch, and good customer service when I accidentally overdrafted my account two years ago. Hell, even their online system is halfway decent now. The only thing that bugs me are ATM fees (hell, I got charged $3 because I stuck my card in an out of network atm, even though I immediately canceled the transaction).

Is it worth the hassle at all?

In short...yes. The excellent customer service and convenience on-line is enough to make the change. Also, opening an account couldn't be any easier and it's all on-line.

 

[ichy]

I use Bank of America and BCSB (a small local bank.) I keep my BoA account because of the huge number of ATMs they have, and if I do direct deposit there aren't any fees. I hate going into a branch because they always try to sell me one of their shitty savings accounts, but if you just deal with their website and ATMs they aren't so bad.

BCSB I use because of the reward checking account that they offer. That's where I keep most of my cash savings. The interest rate used to be 4%, sadly now it's down to 2%.

 

[Elganja]

Mine's a bit complex...

Checking - Charles Schwab High Interest Checking

• can deposit checks with my phone (takes pictures)
• no atm feeds (refunded on the 1st of every month)
• used to have a decent interest rate.
• can't deposit cash

Checking - Bank of America

• only used to deposit cash in the rare cases I need to (then I can just transfer to another account from there)

Savings/Checkings - ING

• savings account, has a decent interest rate
• very easy to make transfers
• atm's are few and far between

 

[dbk]

navy federal cu

 

[ThatsABigOne]

Checking at Wells Fargo.