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re: What bank do you use and do you like them?
Posted on 6/30/16 at 9:23 am to MrSavage
Posted on 6/30/16 at 9:23 am to MrSavage
I use Wells Fargo (checking, savings, cc) because they have branches everywhere, Navy Federal (checking, savings, truck loan) because they take care of service members spectacularly, and Chase (cc) because they have the best credit cards.
0
Posted on 6/30/16 at 9:23 am to TheCaterpillar
quote:
use Ally Bank for Checking, Savings, and laddering CDs. Their app is unreal and their customer service is top notch.
Interest checking and no ATM fees as well.
They just released a credit card that seems pretty solid as well. 1% cash back on everything, 2% of gas and groceries, and additional 10% when redeemed for cash in an Ally bank account.
But I don't have it yet, still love my other credit cards (Amex, Southwest Visa, Chase Sapphire, etc.)
Serious question- how do you deposit cash?
Posted on 6/30/16 at 9:24 am to Pectus
quote:
If you aren't putting your incoming funds in a local bank in this day and age you are missing out on thousands over the next at least 5 years.
Explain...is it interest rates? Because branchless online banks have solid ones as well.
Posted on 6/30/16 at 9:24 am to NYNolaguy1
Maybe he doesn't need to 
Posted on 6/30/16 at 9:25 am to NYNolaguy1
quote:
Serious question- how do you deposit cash?
I don't tbh.
My wife and I's paychecks are direct deposited and if someone writes me a check I can deposit with the app very easily.
I don't get paid in cash for anything expensive enough to warrant a bank deposit.
Posted on 6/30/16 at 9:26 am to TheCaterpillar
Nobody said USAA yet? They are the tits!!
Posted on 6/30/16 at 9:26 am to TheCaterpillar
Bank of America.
Never had any issues and the one time there was a fraudulent charge it was handled extremely quickly.
Only thing that annoys me with them is that they keep constantly sending me pre-approvals for credit cards in my email and through the mail.
Never had any issues and the one time there was a fraudulent charge it was handled extremely quickly.
Only thing that annoys me with them is that they keep constantly sending me pre-approvals for credit cards in my email and through the mail.
Posted on 6/30/16 at 9:27 am to tduecen
quote:
Online Savings
ANNUAL PERCENTAGE YIELD
1.00
Six transactions limit per statement cycle. Why only 6?
No clue.
Never been close to that threshold. Max I think I've hit is two. (automatic deposit from paycheck each month and withdrawal for large expenses)
Also, not sure transferring to and from savings into checking is considered a transaction and its instantly done on the app.
Posted on 6/30/16 at 9:29 am to NYNolaguy1
quote:
Am also having problems with capital one. They started charging us maintenance fees for some of my accounts ($8.95/month/account), and when I brought the subject up to our banker he basically told us sorry, nothing he can do. I just think it's absolute bullshite that they can make money off of my liquid assets and then have me pay a fee for them to do so.
There are plenty of banks that don't do this, so after a long stay with cap1, their time might be done for us. It's especially sad because I have been a customer since Hibernia shut down their operation years ago.
I feel you man. They are really squeezing money and I feel like they've gotten too big that they don't care if you're inconvenienced or if what they are doing is right or fair. They'll just do what they want to because they have so many accounts, if it upsets one or two people it's no big loss to them.
Posted on 6/30/16 at 9:29 am to tduecen
quote:
Online Savings
ANNUAL PERCENTAGE YIELD
1.00
Six transactions limit per statement cycle. Why only 6?
My BOA savings account has this as well. Not like I'd ever have more than six transactions.
I believe someone told me that it's a federal law?
Posted on 6/30/16 at 9:31 am to TheCaterpillar
quote:
Online Savings
ANNUAL PERCENTAGE YIELD
1.00
Six transactions limit per statement cycle. Why only 6?
Here's the answer:
quote:
In consumer banking, "Regulation D" often refers to §204.2(d)(2) of the regulation, which places a limit of six withdrawals or outgoing transfers per month[1] from savings or money market accounts via several transaction methods. Transactions counted against the limit include "preauthorized or automatic transfer, or telephonic (including data transmission) agreement, order or instruction, or by check, draft, debit card, or similar order made by the depositor and payable to third parties." Transactions not counted against the limit include "mail, messenger or in person or when such withdrawals are made by telephone (via check mailed to the depositor)."
The regulation was amended in 2009 to allow greater freedom for the depositor: beforehand, the limit was six withdrawals per month if the funds remained within the same institution (e.g., transfer to checking), but was only three drafts where the funds left the institution (e.g., check, ACH, or card based purchase).[2]
The number of deposits or incoming transfers into savings or money market accounts is not limited.
Regulation D does not emplace the six-time transfer limit on outbound savings or money market account transactions initiated in person, via messenger or mail; over-the-counter (OTC) withdrawals and transfers, ATM withdrawals and transfers, or installment loan repayments.
Regulation D "penalties" or fees do vary by financial institution. USAA, for example, will close an account if Regulation D is exceeded more than 3 times within a 12-month period. From a legal standpoint, notifications of exceeding the allowed 6 transfers have to be communicated with the customer of USAA. Each financial institution will choose to charge (or not charge) fees for exceeding these limits. Wells Fargo, will not close the savings account, but will charge a $15 "Excess Transaction Fee" for each item cleared after the regulation has been exceeded. Financial institutions are allowed to choose their own fee schedule related to this required federal regulation.
Posted on 6/30/16 at 9:32 am to TheCaterpillar
quote:
Very, very easy. App is fantastic.
I have teh WF app but rarely use it.
quote:
Doesn't WF allow you to open a brokerage account with a certain amount of free trades per month? That's something I really wish Ally had.
Idk, I don't use WF for that type of thing. I have my retirement accounts through work and a separate one on my own through VAnguard.
Posted on 6/30/16 at 9:34 am to MrSavage
I use several for checking and savings. Most of my business runs through Wells Fargo. Superior access to wealth management and private banking options
Posted on 6/30/16 at 9:34 am to MrSavage
Go to a credit union. They have better rates and typically don't have a bunch of fees. Don't close your Cap One credit card, but look around for others that give you better cash back like Citi Double Cash.
Posted on 6/30/16 at 9:36 am to WG_Dawg
quote:
I have teh WF app but rarely use it.
Never seen it, but the Ally one is great and I use it all the time.
I can set up laddered CDs in 5 minutes from my phone or transfer money instantly among all of my accounts. I have several different accounts in Ally (checking, savings, money market, CDs, and a student loan account that I keep separate from the wife
) Also, I still have a pre-existing Regions account from college that I keep open because they have a branch in my father's office in Baton Rouge and we can exchange money that way. The Ally app lets me deposit/transfer money in and out of the Regions account without ever having to deal with Regions.
Posted on 6/30/16 at 9:36 am to MrSavage
quote:
Am also having problems with capital one. They started charging us maintenance fees for some of my accounts ($8.95/month/accoun
I find it absurd that they are charging you a monthly fee for an acct and find it more absurd the banker told you there's nothing they can do (unless part of the story is missing). That's really bad service. If you have direct deposit then you should not be charged, unless you work for a company that doesn't offer it. Our bank charges a monthly fee, but it's waived if you have $500 or more direct deposited into the acct each month.
Posted on 6/30/16 at 9:39 am to TheCaterpillar
Yeah.. Get out of big banks except what you need in larger accounts.
Posted on 6/30/16 at 9:40 am to WG_Dawg
quote:
and honestly they seem pretty legit. I think there's just somethign in my brain that won't let me join somehwere that doesn't have a physical branch.
My friend's bf has Ally. He really liked it...until the day he lost his debit card on a Friday. Ally wouldn't overnight him a new one so he had to wait a few days for a replacement card to arrive in the mail. With no physical branches...he had no way to get money from his account until his replacement card arrived in the mail.
Posted on 6/30/16 at 9:40 am to Pectus
quote:
Yeah.. Get out of big banks except what you need in larger accounts.
Why?
End of the world?
Posted on 6/30/16 at 9:40 am to MrSavage
Go local man. You won't have an issue getting things done. They will treat you like royalty. I used to bank with First Federal Bank of Louisiana until I moved. I hate that they don't have a branch where I'm at now, or I would still be with them. I like in-person banking, not much for the app.
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