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What bank do you use?

4,543 Views | 33 Replies | Last: 6 yr ago by quidam65
GarlandAg2012
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AG
Just got married and am looking to consolidate wife's and my bank accounts. Here's what we want:

  • As high of APY possible for both checking and savings
  • Free ATMs
  • Ability to create multiple sub accounts to track savings goals
  • Branches in the DFW area or easy way to deposit cash and checks
  • Online bill pay (does any bank not have this?)

I'm currently with LegacyTexas. They're ok, but savings rate is basically 0 (.05%-.2%) and Ultimate checking is 1% but only up to $25,000.

I've been looking online and there's no perfect solution it doesn't seem. There are banks with higher APY, but only up to $10,000 in deposits or require 15 debit card transactions of $3 or more, etc.

Just looking for something without too many rules. Have no problem doing direct deposit, online statements, and can even do debit card transactions if there's no transaction minimum.

Out in Left Field
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AG
Ally Savings + Ally Checking?
TwoMarksHand
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When I got married I closed my Chase account and we opened a Wells Fargo account. Only reason is because she had more money in her account than I did mine. We don't hardly use the savings account because we can park our Emergency money in better places without losing too much liquidity. Our "savings" is in stocks, bonds, and real estate.
The Pilot
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AG
Capital One 360, has both checking and savings. Pretty easy to create/delete savings accounts.
GarlandAg2012
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AG
This is what I'm leaning towards but is it possible to deposit cash? We like Vegas so that would be annoying if no.

GarlandAg2012
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AG
All ears on where to park an emergency fund as well.
752bro4
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AG
I just went through this exact same proces. We ended up consolidating everything into a Chase. You likely have gotten a free $500 thing in the mail if you open a checking and savings and maintain a $15k balance or more between the two. You get $200 for one, $300 for the other after 90 days. It's probably more interest than you're going to earn over a substantial amount of time.

We keep 3 checking and 2 savings and 2 credit cards with them, all show up on our log in screens, and I'm sure you could add more, we just don't need any additional.

JPMC ATMs are everywhere and so are their branches. Online is pretty good, and so is their app and remote deposit.

APY is nothing (.01%), but $500 is more than any interest you're going to get over many, many years elsewhere. APY is 1.0% if you maintain a balance of $250k.
Out in Left Field
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I don't think there is a direct way to deposit cash to Ally yet.

I have a Wells Fargo checking account that I use to pay all bills, write checks, and withdrawal/deposit cash. The extra goes to Roth IRA, brokerage account, and Ally savings. I try to only keep a minimum in WF since it earns essentially nothing.

I do have an Ally checking account too, but I've never actually used it. I thought it would be nice to have a backup checking account in case WF gets all jacked up for whatever reason.
RangerRick9211
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GarlandAg2012 said:

All ears on where to park an emergency fund as well.

I-bonds.
TwoMarksHand
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RangerRick9211 said:

GarlandAg2012 said:

All ears on where to park an emergency fund as well.

I-bonds.
Agree
Quailmeezy
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Been really happy with Capital one 360. 1.1% APY for money market savings accounts with over 10k. You can use any capital one location like a brick and mortar bank for any cash deposits. Free ATM at any Allpoint ATMs (there are tons). Easy online interface and app. Referral bonuses for new members.

Would absolutely recommend.
Vernada
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We have multiple accounts.

BOA for everyday stuff and easy access to ATMs and billpay.
360 for cash
Fidelity for investing

All accounts are linked so moving money is pretty easy.
Cyp0111
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Is there a limit on the 1.1%.

CIT Bank is running a special where they offer 1.3% and 1.25% over $100K.
TwoMarksHand
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Cyp0111 said:

Is there a limit on the 1.1%.

CIT Bank is running a special where they offer 1.3% and 1.25% over $100K.
Must have 10k for the 360 MM account from Capital One
Matsui
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AG
BoA just in case
USAA
Capital One 360
KC_Ag14
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AG
Money market funds
62strat
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USAA.

I have zero desire to try and look around and go through the effort to get 1% on my $10k that's in savings. $100/yr, big whoop.

I have thought about the Chase $500 thing, and then as soon as I get it, put all my money back at Usaa and close the chase accts.
Ag13
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I use Capital One 360 for savings and checking but keep $300-$500 at a time in a Charles Schwab checking account. Schwab has unlimited free ATM's world wide. When I know I'm going on a trip I usually transfer over a little more. Very easy to use.
smokeythebear
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My wife and I both grew up using Bank of America so it was pretty easy when we got married. We also use Merrill Lynch for all our investments.
{AggieGirl}#07
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Chase for checking since I have 3 CCs through them and it's easier to pay those bills same day. Discover for my savings
colonialag
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Bank of America for checking combined with Merrill Edge for investing. I think their preferred rewards program is one of the best values in personal finance.

Emergency savings is in an online savings account that I've had since the days you could get 5-6%, now down to 1%... Capital One 360's savings account has the sub account feature for different savings goals the op is looking for.
evan_aggie
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AG
Checkout Purepoint Financial.

They bumped their savings from 1.25% to 1.3% recently. I think there is a $10k+ minimum.

Pahdz
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62strat said:

USAA.

I have zero desire to try and look around and go through the effort to get 1% on my $10k that's in savings. $100/yr, big whoop.

I have thought about the Chase $500 thing, and then as soon as I get it, put all my money back at Usaa and close the chase accts.
Those two points seem to contradict, don't want to bother looking for higher return on savings, but would shift all your stuff to one bank only to move back in 90 days?
OldCamp
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Quote:

Capital One 360, has both checking and savings. Pretty easy to create/delete savings accounts.
Love being able to create different "sub" accounts.
We have accounts for "Emergency", "home improvements", "vacations", etc. that we categorically save money to.
idAg09
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752bro4 said:

I just went through this exact same proces. We ended up consolidating everything into a Chase. You likely have gotten a free $500 thing in the mail if you open a checking and savings and maintain a $15k balance or more between the two. You get $200 for one, $300 for the other after 90 days. It's probably more interest than you're going to earn over a substantial amount of time.

We keep 3 checking and 2 savings and 2 credit cards with them, all show up on our log in screens, and I'm sure you could add more, we just don't need any additional.

JPMC ATMs are everywhere and so are their branches. Online is pretty good, and so is their app and remote deposit.

APY is nothing (.01%), but $500 is more than any interest you're going to get over many, many years elsewhere. APY is 1.0% if you maintain a balance of $250k.


I did this two years ago and said I'd move the cash after 6 months but Haven't. You considering another promotion somewhere else or keeping it with chase?
YouBet
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Fidelity Spending Account for checking.

Every ATM on the planet is your ATM regardless of who owns it. They reimburse all ATM fees and charge zero fees for anything else. I haven't stepped foot into a physical bank in 8+ years. Phone deposits. Throw in investment accounts on top of it. What's not to like?

We use a credit union for a liquid savings account because of the better interest rates vs everyone else.
Pahdz
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Fidelity Cash Management account? is that what you have?
AgCPA95
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BOA for joint personal. Both had them when we got married so closed one, kept one and they are everywhere, however I may visit the actual bank about 1 time per year if that.

Bank of Texas for business account.
YouBet
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AG
Pahdz said:

Fidelity Cash Management account? is that what you have?
Yes.
Retired Principal
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Frost Bank
Bluehazel
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I use Synchrony Bank (used to be GE Capital) 1.20% Savings account. I use chase for my checking and just do online transfers to savings. Haven't tried opening multiple savings accounts so can't speak to that, but the rate can't be beat.
hijakeroo123
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If you are needing branch access, I would strongly recommend Frost Bank! They actually staff their branches well, and if you need to call customer service, a live human picks up immediately. It is obvious that they place a high value on great customer service. On the other hand, avoid Bank of America in DFW. They are closing branches right and left up here, and the branches which remain are grossly understaffed, leading to lines which can often reach 10-15 customers deep (I have a secondary account with them and have run into this issue numerous time at multiple branches). I have also heard similar complaints about Wells Fargo.
schwack schwack
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Do you have any relatives that work for Southwest? Their credit union has incredible rates. 4% up to $25K + you can have 2 accounts. That's roughly $80/per month x 2. Over that still gets something but its much, much lower.

It used to be more extended family but they might have tightened it up to more immediate. If you're connected to an employee, you should check it out. swacu.org
Out in Left Field
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Ally upted the rate to 1.20%
quidam65
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I use a local credit union for my personal accounts (actually I have two, one was for rental property but I sold my last house and am keeping it open only to pay out final bills).

If you and your wife (congrats) work on opposite ends of town, First Convenience Bank has a lot of branch locations but that's about their only advantage.

If you can sign up for USAA definitely do so (I work with several people who are ex-military and every one of them are proud to have USAA).
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