• I'm happy to introduce the Styleforum Happy Hour, our brand new podcast featuring lively discussion about menswear and the fashion industry. In the inaugural edition, a discussion of what's going on in retail today. Please check it out on the Journal. All episodes will be also be available soon on your favorite podcast platform.

  • STYLE. COMMUNITY. GREAT CLOTHING.

    Bored of counting likes on social networks? At Styleforum, you’ll find rousing discussions that go beyond strings of emojis.

    Click Here to join Styleforum's thousands of style enthusiasts today!

Banks...

mkarim

Distinguished Member
Joined
Sep 24, 2008
Messages
4,645
Reaction score
34
I used to bank with Washington Mutual. Great bank, great service, free checking, until Chase came along. Now they want to charge fees for everything and I want out!

I want a free checking account with no mimimum balance requirement, BillPay and good customer service. What bank(s) would you recommend? I have a mortgage with Wells Fargo and can qualify for their Portfolio Management Account (PMA), their premier account that comes with lots of free services (eg., 100 free brokerage trades a year, mobile banking, no-fee non-Wells ATM withdrawals, etc). They bought out Wachovia and have a solid presence in Atlanta, where I live, but am wary of large banks. They tend to change their rules every time. My theory is that it is better to be an investor than a customer at large banks. I have also looked at Schwab.

Any advice from personal experiences?

Thanks.
 

Don Carlos

In Time Out
Joined
May 15, 2009
Messages
7,527
Reaction score
25
I don't mind Wells Fargo, which I have used for years. Their checking accounts can be expensive if you don't keep a minimum amount in savings. As with any other big bank, expect to get nickled and dimed. But they don't fuck you as much as Chase or BoA do.
 

mkarim

Distinguished Member
Joined
Sep 24, 2008
Messages
4,645
Reaction score
34
Originally Posted by Don Carlos
I don't mind Wells Fargo, which I have used for years. Their checking accounts can be expensive if you don't keep a minimum amount in savings. As with any other big bank, expect to get nickled and dimed. But they don't fuck you as much as Chase or BoA do.

Oh yes, I've heard about BoA!!!

With my mortgages (I have 2 with Wells), I qualify for a no-fee PMA account and a no-fee savings account. An advantage is that I would be able to access all accounts on one website.

How is their customer service? Apparently, Wachovia was known for excellent customer service and Wells says they want to keep theirs at that level.
 

fiasco

Senior Member
Joined
Nov 10, 2009
Messages
121
Reaction score
0
BoA has accounts where you can avoid service charges by either: Using the paperless statement feature and only using the atm for deposits and withdrawls or setting up direct deposit. No minimums required when you do either of those options.
 

dragon8

Distinguished Member
Joined
Feb 19, 2007
Messages
4,658
Reaction score
57
My cousin has Schwab and there are no fees for him since he has direct deposit. Full reinbursements on atm fees.
 

Biggskip

Distinguished Member
Joined
Feb 10, 2008
Messages
4,305
Reaction score
1,618
Originally Posted by mkarim
I used to bank with Washington Mutual. Great bank, great service, free checking, until Chase came along. Now they want to charge fees for everything and I want out! I want a free checking account with no mimimum balance requirement, BillPay and good customer service. What bank(s) would you recommend? I have a mortgage with Wells Fargo and can qualify for their Portfolio Management Account (PMA), their premier account that comes with lots of free services (eg., 100 free brokerage trades a year, mobile banking, no-fee non-Wells ATM withdrawals, etc). They bought out Wachovia and have a solid presence in Atlanta, where I live, but am wary of large banks. They tend to change their rules every time. My theory is that it is better to be an investor than a customer at large banks. I have also looked at Schwab. Any advice from personal experiences? Thanks.
I was in the same situation with WAMU changing over the Chase. They told me that if I wanted to retain my account and not pay the monthly maintenance fee ($10, WTF!) that I would need to make a monthly direct deposit >=$500. Not sure if that applies to you, but maybe something to consider. I wouldn't be as wary of Wells as you seem to be. They are a phenomenal bank that works very well and is very good at customer retention and getting their customers to use more and more of their products. And I say that as a man who works at an institution that competes with them everyday. If you can get all they they are offering for free (since you have your mortgage with them) I say take it. Also, in general if you have more than $500k in total investable assets most banks will roll our the red carpet for you if you bring your whole relationship to them. You get higher rates on deposit accounts, special mortgage rates, special services, etc.
 

mikeman

Senior Member
Joined
Jun 4, 2008
Messages
701
Reaction score
5
Honestly, go with a credit union. They usually offer everything you want, without all the bullshit.
 

Biggskip

Distinguished Member
Joined
Feb 10, 2008
Messages
4,305
Reaction score
1,618
Originally Posted by mikeman
Honestly, go with a credit union. They usually offer everything you want, without all the bullshit.
Except, that they generally have very small ATM and Branch networks which can lead to a lot of fees over the long term if you're not careful or there isn't a branch nearby.
 

Harold falcon

Stylish Dinosaur
Joined
Dec 6, 2009
Messages
33,512
Reaction score
12,028
Originally Posted by mikeman
Honestly, go with a credit union. They usually offer everything you want, without all the bullshit.

I am very happy with my local credit union. As Biggskip pointed out, you do have to be careful about ATM charges and teller access, but if those aren't huge issues for you credit unions beat banks by every other measurement.
 

random-adam

Distinguished Member
Joined
Nov 14, 2008
Messages
1,173
Reaction score
180
Originally Posted by harvey_birdman
I am very happy with my local credit union. As Biggskip pointed out, you do have to be careful about ATM charges and teller access, but if those aren't huge issues for you credit unions beat banks by every other measurement.

This. NASA FCU has been good to me since before I knew what money was.

ATMs aren't a problem; I'll duck into a grocery store and use my check card to buy a pack of gum for $.69 to withdraw $60 here and there rather than spend $2.50 on some BigNationalBank ATM fee.... or consult this if I'm going somewhere with which I'm unfamiliar. Hell, there's one just a block from my house.
 

uhurit

Distinguished Member
Joined
Jan 4, 2009
Messages
1,136
Reaction score
3
Go with a local small bank or a credit union, just watch your ATM withdrawal fees...why the hell would you use an ATM anyways? Just carry some spare cash, that's all. I closed my Chase checking account because of their BS maintenance fee.
 

XeF4

Senior Member
Joined
Mar 25, 2008
Messages
748
Reaction score
4
Yeah I was at WaMu too, and I also echo the OPs sentiment, fuck Chase. I moved all of my shit to ING.
 

mkarim

Distinguished Member
Joined
Sep 24, 2008
Messages
4,645
Reaction score
34
Originally Posted by XeF4
Yeah I was at WaMu too, and I also echo the OPs sentiment, fuck Chase. I moved all of my shit to ING.

I was thinking of having my checking account with Wells or SunTrust and (orange) savings account at ING. Great interest rates (1.1%). I could transfer from checking to ING savings account every month and build up decent savings.

How do you like ING?
 

uNiCoRnPriNcEsSx

Senior Member
Joined
Nov 29, 2010
Messages
830
Reaction score
248
Originally Posted by dragon8
My cousin has Schwab and there are no fees for him since he has direct deposit. Full reinbursements on atm fees.

this. for the motherfucking win. you may have to mail in your checks, but if damn, you can withdraw monies from anywhere for free, and no need for a minimum balance in your account.

tldr: SCHWAB
 

NorCal

Distinguished Member
Joined
Jun 3, 2007
Messages
8,828
Reaction score
1,519
Originally Posted by mikeman
Honestly, go with a credit union. They usually offer everything you want, without all the bullshit.

Yep.

And the issue of ATMs is non-existent b/c mine refunds all charges automatically. So I have the largest collection of ATMs of any bank and can use them all for free.
 

Featured Sponsor

What's your favorite pair of shoes to wear with jeans? (Choose two)

  • Boots (Chelsea, Chukkas, Balmorals, etc.)

  • Loafers

  • Work boots (Red Wing, Wolverine, etc.)

  • Monk strap shoes

  • Oxford / Derby shoes

  • Sneakers


Results are only viewable after voting.

Related Threads

Staff online

Forum statistics

Threads
427,013
Messages
9,190,064
Members
193,028
Latest member
Peak Surge Keto

Styleforum is proudly sponsored by

Top