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Personal Bank Reco

2,492 Views | 20 Replies | Last: 2 yr ago by CT-11
Mollie03
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AG
Just got an email that Bank of America is jacking up fees for transfers and I use that service pretty often for my personal savings account held at a different bank. So I will be changing banks finally.

What is best place for my personal checking account?
Done7
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Why not use Zelle for transfers between banks?
Mollie03
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AG
Have not thought of that as an option. Will look into it.
Done7
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That is what I use to move money between my bank accounts.

I have chase, BAC and cap 1. I prefer cap 1 mainly due to their customer service and no transaction fees when I travel aboard.
mosdefn14
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AG
There are 2 or 3 ways to do the transfer on the BAC website/app. Not positive, but my understanding is the plumbing on one of them has a cost, but the other 2 do not.
jagged
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AG
Watching this. Have been at bac for a long time, but closest branch is not that close and service sucks at most of them I have been in lately. Also they were way uncompetitive on refi, I'm guessing because their costs are high.

Transfers have never been an issue. Try zelle as mentioned but that has some limits. You may see if they can waive some of the fees by marking your account as preferred or whatever they call it.
JSKolache
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AG
Find a local credit union
OldArmyCT
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AG
If you have enough $ at BoA you'll never get a fee on anything. A mortgage counts as money on deposit as does anything you have with Merrill. The have credit cards that waive foreign transaction fees. Normal people that have 2-3 banks often get spurious fees that customers who consolidate don't get, by normal I mean they split $100,000 into 3 banks and expect preferred treatment. Banks make money in a ton of different ways but generally lose $ on smaller accounts. Smaller banks often waive fees at first then add them later in an attempt to either make you profitable or make you leave. BoA has a strong mortgage arm but they are slow and nit pick too much. On the plus side they have an outstanding fraud department and they've never really been hacked, both of which may be a good reason to stay.
malenurse
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AG
Wait.................

People still use Bank of America?
The last thing I want to do is hurt you. But, it's still on the list.
jakester03
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AG
JSKolache said:

Find a local credit union


This
SouthTex99
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AG
Get your money out of the mega banks. Bank local.
Mollie03
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AG
I don't keep a lot of money in my checking account.

Opened my first savings account in the 80s with First Gibraltar or something that was acquired by Bank of America. Just never moved it anywhere.

Credit union is what I was thinking too. Just to have to find a good one in Dallas.
YouBet
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AG
Fidelity Spending Account

  • Zero fees regardless of balance
  • Excellent customer service
  • Refunds all ATM fees
  • If you invest money with them then you have all your accounts in one spot and you can move money back and forth immediately
  • Bill pay
  • Personal Capital type aggregator portal (although not as spiffy as PC) that consolidates all of your finances into one view so you have full picture of everything

Credit Unions tend to have inferior technology from what I've see, but obviously a good option for financing if you need it.
htxag09
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AG
We have USAA. Not military, not sure if they still have banking open to non military or if that changed. They have a lot of perks to make up for the lack of physical banks.
insulator_king
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AG
USAA now requires military service to use their banking products.

Besides a CU, I would also use Cap 1 360. I can recommend it.

There is also PenFed CU. If not military, you can join an affiliate to be eligible.
Stat Monitor Repairman
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SouthTex99 said:

Get your money out of the mega banks. Bank local.
Headed that direction.
Texker
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AG
I agree about banking local. If you have a way in Navy Federal Credit Union is a fantastic option. Customer service is top notch and their technology is good since they serve worldwide. You can call at 2AM and talk to a rep. We still have a Chase account but about to dump them.
12thMan9
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AG
BoA sucks.

Don't know where you are no located, we have used Cadence for a long time. Although they're merging w/a SE bank group, name escapes me.
Ronnie '88
10andBOUNCE
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AG
Ditch the TARP banks
Mollie03
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AG
I'm in Dallas. Looking for a credit union around here.
Brian Earl Spilner
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AG
Schwab
CT-11
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AG
Does anyone have any experience with Texas Bay credit union? I have used Aggieland/GTFCU but I hate their website interface.
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