My situation: I've been with Old National Bank for ages. During that time, I've been kind of indifferent to them as they've neither been awful or outstanding. I've also been able to hold a balance high enough to not trip their fees (<$750 and it ramps up every $250 you go lower.) However, shit happens, and the days of just holding on to that much cash are probably gone for a while. Mostly because of that, I'm considering changing banks. Here's my pros and cons for Old National:
- Fairly good security compared to other financial institutions.
- Fairly good CS, when I've needed it.
- Physical locations close to my house and work. (Rarely needed, so this is about irrelevant.)
- Few ATMs and out of network fees.
- Fees for balance <$750 on checking (Starting at $4/month and going up) and no interest paid on balance.
- ONB just announced some branch closings, and I've been through this routine before.
It really comes down to there are too many other options out there for me to feel I feel I should stay with someone charging me for my balance or for the lack of their ATMs. That's my major beef. I do most everything online, so branches aren't really important, though the fact that they're closing them makes me a little skittish about their future.
I'm considering going with Capitol One 360 as I've had a card with them for a long time and been satisfied. The account seems to meet my needs and, aside from the usual number of complaints any big operation gets, I'm not seeing any glaring red flags on this. I've looked at jumping to another local institution or others, but I think 360 is my best option.
1) Anyone have any experience with a Capitol One 360 checking account? Pros/cons?
2) It's been a while since I've done this, so what's the best way to close and transfer over a checking account?