Which Bank is really the best to use?

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seththefallen

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After unbelievable strife with Washington Mutual, I'm shopping for a new bank. I'm a student so I don't need to store 100k or anything. Any banks with amazing customer service, free checking etc... I know a lot of people use Bank of America, which makes me wonder if their customer service can be that good. What do you guys think?
 
Bank of America was good to me when I closed my account with them. Pretty painless. I opened a checking account there to get a $100 bonus. Got the bonus pretty quickly and then closed the account a month or two later. However there was a monthly fee for checking accounts below a certain balance. That's why I closed it.

I have a checking account with BB&T and can't complain. No min balance, no fees - other than the normal things like overdraft, foreign ATM fees, etc.

IMO the key thing is to go with a bank that has branches and ATMs convenient to you. That plus a no fee, no min balance checking acocunt.

For me that was BB&T.
 
I've had quite a few bad experiences with banks, and remain distrustful.

I opened a checking account at NBC Bank because it was offering a no fee, no min balance, intrest bearing account. About 2 years later, the bank was bought out by SunTrust. These SunTrust idiots ain't fer shit with customer service, and they have tried several times to change my account to one of their regular checking accounts that isn't an intrest bearing one, or one that is but charges a fee, or has a min balance. But, since I signed a contract for it when I was with NBC, they are forced to uphold my account and they HATE ME for it.

If it didn't have a good intrest rate, I would tell these bozo's to kiss by nigger ass and go to a credit union.
 
I've used Bank of America, U.S. Bank, and National City Bank. Honestly, they all do about the same thing for me: free checking with a debit card and some checks up front for free. The only reason I've had an account with all of these banks is because of relocating. Basically, whatever bank is close to me and has a good ATM network is what I choose.
 
As you age you'll eventually turn away from free-checking accounts and look for savings accounts, mutual fund accounts, interest accruing high-yield checking accounts, etc.. And the longer you stay with the same bank the better perks and service you tend to get.

For that reason I'd suggest looking at the long-term potential of the bank instead of the ability to save a dollar or two over the short-term.
 
Is ING direct one of the better online banks in terms of better than average APY? It states the following under their savings account:

-There is no minimum balance required to open your Orange Savings Account, and you don't have to keep a specific balance in your account to qualify for a high interest rate. No matter how much you have on deposit, the rate is still 4.50% APY.

No fees. No service charges. No penalties. No hidden costs.

http://home.ingdirect.com/products/products.asp?s=OrangeSavingsAccount
 
[quote name='alucard8319']Is ING direct one of the better online banks in terms of better than average APY? It states the following under their savings account:

-There is no minimum balance required to open your Orange Savings Account, and you don't have to keep a specific balance in your account to qualify for a high interest rate. No matter how much you have on deposit, the rate is still 4.50% APY.

No fees. No service charges. No penalties. No hidden costs.

http://home.ingdirect.com/products/products.asp?s=OrangeSavingsAccount[/QUOTE]


id go with gmac online bank they pay more

Balance Rate APY*

$0 - 499.99 5.06% 5.19%
$500 - 4999.99 5.16% 5.30%
$5000 or more 5.16% 5.30%

* Annual Percentage Yield

http://gmacbank.com
 
As a student get whatever is closest and has free checking because you do not want to pay atm fees.

For savings, hsbc is the best in my opinion, over 5% interest for the online savings, and it's easy to transfer between the online account and a normal free checking account.

Now I have that and a local free checking account (with suntrust) because I'm not near hsbc branches anymore.
 
Check bankrate.com for the top yielding MMAs.

I had (still have) an ING account, but opened an HSBC account after about a year as it had a better APY (by about .5%) over that entire time than ING.

Neither have any fees or anything. If you do go with ING I can refer you and then we both get a bonus. But I'd go with a higher yielding option.
 
We use HSBC for saving for our kids. Great rates there.

If you don't need access to a physical bank, go with a net bank. I use USAA for all my personal stuff. My savings is only 2.44%, but I don't have any money in there right now anyways. With everything else I have with them, it's easy. Instant deposits via check/scanner. Great if you don't need to deposit cash.
 
[quote name='CocheseUGA']Instant deposits via check/scanner. Great if you don't need to deposit cash.[/QUOTE]

I had never heard of that. Very interesting.
 
I don't use banks, I use credit unions.

Banks exist to make money for their president and his board members, credit unions exist to make money for all the members.

I admit that I don't know too much beyond that but I do know that my parents have been using credit unions more or less exclusively since before I was born (28 years ago). They're really the ones who told me to not use banks. If I can retire with half the nice things they have, at the relatively young age they retired at, I'll be thrilled.
 
I bank with Wachovia, ING and HSBC. I have no problems with any of them. I would never recommend Bank of America due to their insane fees.
 
2nd on the Credit Union.

It's pretty painless and it seems that any locality nowadays has one that anyone can be a member of. I belong to one that pays a decent interest rate, no minimum fees, free online bill pay, free Visa Check card and awesome customer service. Best part is if you accidentally bounce a check, they'll pay it for you for a $24 fee instead of bouncing it and incurring not only your bank fee but additional fees from the depositing bank as well. Not sure if they all do that though.
 
[quote name='wubb']I had never heard of that. Very interesting.[/QUOTE]

Sucks if you don't have a scanner, as you have to mail everything in otherwise. They went to this instead of using overnight UPS (for free).

I'd also like to give props for the insurance, too. Sold our car back to a family member at Xmas, and I had forgotten to take it off. Finally called last week and USAA credited me for the entire six months.
 
[quote name='wubb']I'm guessing the free overnight UPS days were pre-dot com bubble burst time frame? :mrgreen:[/QUOTE]

Actually, that just ended earlier this year. It fueld my decision to pick up a Lexmark scanner/fax/printer/copier at Target on clearance.

Also, unfortunately, going to Kinkos doesn't work either, as they (K) don't allow that type of Java application.

But it's all good now.
 
Wow. Makes you wonder just how much money banks make on a checking account if they can afford that. (Well I guess they couldn't quite afford it. :lol: )
 
I use WaMu currently and have never had a problem with them. So long as you keep track of balances and don't overdraw, you shouldn't have problems with them (but I don't know OP's story). In any case, I've always been happy with them. Had them when I lived in Miami. Switched over to Fleet when I lived in Boston (no WaMu's out there at the time. And I ended up hating Fleet). Moved out to San Diego and switched back to WaMu. Although I kind of like what Cochese was talking about. I might look into that.
 
[quote name='wubb']Wow. Makes you wonder just how much money banks make on a checking account if they can afford that. (Well I guess they couldn't quite afford it. :lol: )[/QUOTE]

I think UPS offered it for free to USAA, who in turn offered it for free. Didn't really cost them (UPS) a lot, because it went to somewhere else via QuickPost and QP translated the info to the banks. USAA developed their own software, but UPS ended it a month or two earlier than USAA had it available. They offered us a couple of free FedEx overnight envelopes to bridge the gap.

Anyways...it's a nice setup for me because my wife pays me a couple times a month and I scan it in and it's ready to use. Everything is free, billpay included.
 
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