new bank - DPChallenge Forums

Canon EF-S 18-55mm f/3.5-5.6

11/02/2011 01:59:16 PM · #1

im exercising my own protest against the banks :)

i just got a letter and actually 5, one for each account thy they will now be charging... $9 per account for web transcations. i go over that each money as my wife has things set up to move money out of our main accounts and into other accounts we have set up for savings, this occurs weekly on top normal moving money into checking to pay bills. so i am about to take a $45 a month hit for managing my own money on the web. if i go to the teller its free.

this on top of atm fees.

screw that.

im looking for a new bank. this may be a losing battle but i am prepared to jump bank to bank in protest. so what banks in your experience have good online services, and low to zero costs. higher interest rates are a plus.

Message edited by author 2011-11-02 13:59:41.

o2bskating

Canon EOS-350D Rebel XT

11/02/2011 02:00:40 PM · #2

credit unions

Canon 12x IS USM (S3 IS built-in Lens) -- 36-432mm (35mm EQ)

11/02/2011 02:26:21 PM · #3

dont you need to be in some sort of organizaion? how do they compare with online only banks?

GeneralE

Canon PowerShot S3 IS

11/02/2011 02:30:44 PM · #4

Originally posted by o2bskating:

credit unions

Ditto -- if all you have is ordinary houshold and personal accounts credit unions are great.

They are owned by the members, so they don't have to generate a profit for outside shareholders. Most of them have all the services including online banking, and are joined in a network of fee-free ATMs larger than most of the major banks.

Membership can be based on all kinds of criteria, including area of residence. If you have any nearby, just check them out first. I'm sure you can call and ask what you need to qualify for membershop -- my guess is that it will be a photo ID and a $100 minimum deposit.

Kelli

Canon EOS-D60

Canon EF 28-135mm f/3.5-5.6 IS USM

11/02/2011 02:32:03 PM · #5

//moveyourmoneyproject.org/find-bankcredit-union

enter your zip code here and will give you all your local non big banks & credit unions.

o2bskating

Canon EOS-350D Rebel XT

Canon EF-S 18-55mm f/3.5-5.6

11/02/2011 02:32:17 PM · #6

it depends on the credit union, some of them want you to be a member of like the military but others are just like regular banks. i only know that mine dosn't charge a fee for everything like my other bank did. and i pulled all my money out of ING and put it in the credit union. the intrest is usually better than a normal bank but not as good as ING.

bergiekat

Canon EOS-5D Mark IV

Canon EF 24-70mm f/2.8L II

11/02/2011 02:34:00 PM · #7

And even credit unions are pricey from cu to cu. Intouch is new to the area, but are undercutting the rest of the Credit Unions around here for fees! We are moving our banking as well. I'm going to piss people off and write checks or use cash and if they don't take a check...I won't buy anything there. I'm so sick of the damn banks and their greed I could scream!

Maybe I'll just buy a bigger mattress! :P

DrAchoo

Panasonic Lumix DMC-LX5

Canon EF-S 18-55mm f/3.5-5.6

11/02/2011 02:35:04 PM · #8

I had a bunch of money in ING because at the time the interest rate was quite a bit better than my local bank, but I've noticed (since it was bought out) that the different is tiny now. Time to take that money back and put it back at home. Thanks for the reminder.

o2bskating

Canon EOS-350D Rebel XT

11/02/2011 02:41:19 PM · #9

Originally posted by bergiekat:

haha get it gurl i'm right there with you.

EL-ROI

Canon EOS-450D Rebel XSi

Canon EF-S 18-55mm f/3.5-5.6 IS

11/02/2011 02:49:24 PM · #10

I abandoned the banks three years ago...

I started with a national bank. They raised rates and fees every time I turned around. I ditched them and went to a local bank. My local bank with one branch got bought twice until it turned into a bigger bank. I ditched that bank and went with a local credit union... $5.00 membership fee and they love me and I love them! Hell, as a member I could probably sit on the board or something...

Hugs for the CU's!!

Message edited by author 2011-11-02 14:51:04.

Canon 12x IS USM (S3 IS built-in Lens) -- 36-432mm (35mm EQ)

11/02/2011 02:51:18 PM · #11

the online banks i found seem really good and cheap but how do i deposit cash or checks? do i still need to maintain an account at a local bank in order to get the money to the online bank?

im going to look into credit unions too.

edit, thanks to Kelli's link there are only two near me and only one has online banking the other is still using what looks like a web1.0 interface. the fees at other the seem to parallel what i am leaving :(

Message edited by author 2011-11-02 14:57:00.

GeneralE

Canon PowerShot S3 IS

11/02/2011 02:54:17 PM · #12

Originally posted by bergiekat:

I'm going to piss people off and write checks ...

When my last batch of checks ran out I started printing my own, with one of my pictures on it. As long as it has the necessary information (routing and account numbers, names/address, amount, etc.), it doesn't have to be printed by a special company or anything; I print mine on a color laser at work. I saved them to a PDF document and added form fields, so I have the option of typing in all the information before printing it, so I only have to sign it and trim it out of the sheet.

Originally posted by EL-ROI:

Hell, as a member I could probably sit on the board or something...

You can definitely stand for election, but be prepared to deal with some large and complex numbers and to go to a lot of meetings ... ;-)

Perhaps more importantly, you get to VOTE for the Board members.

Message edited by author 2011-11-02 14:56:54.

bergiekat

Canon EOS-5D Mark IV

Canon EF 24-70mm f/2.8L II

11/02/2011 03:05:10 PM · #13

Hmm, printing checks at home...but what about all of the "security features" on the ones you order...will your bank still pay these checks

. With a photo on them, makes it harder for someone to forge, but still worry.

Art Roflmao

Canon EOS-6D Mark II

11/02/2011 03:06:25 PM · #14

Sure, it's rough on the back, but I ain't paying no monthly fees, dammit.

robs

Canon EOS R6 Mk II

Sony 24-70mm F4 Vario-Tessar T* FE OSS

11/02/2011 03:09:52 PM · #15

The online ones are the best... I use ING direct but alley and some others are similar.

I use a BofA acct just to get access to the ATM and direct deposit enough to avoid the fees (I forget how much it is now and that may well have changed).

CU's are good and I did use them but I got sick of the lack of ATM's which is important to my use of a bank.

Some of the brokerages used to have decent deals although they might not now... so e*trade, Fido, Schwab MIGHT have a way to get at free ish banking.

Personally... I stuff everything I can onto a credit card that gives me 2% cash back and just pay that one..... no miles or tired crap... just cash.

Bear_Music

Samsung Galaxy S24 Ultra

11/02/2011 03:31:24 PM · #16

I dumped BofA a couple months ago when, out of the blue,they told me my free account wouldn't be free anymore. And some other fee-jacking crap. I went over to a local, Cape Cod based bank with good reviews and opened a new account. Went to BofA and closed the first account when my monthly direct deposit moved over to the new bank.

Of course, at that point, and since, BofA has been telling me I don't really have to pay all that, they'll waive it; but I'm not interested. The message they are sending me is that they'll rip off everyone who doesn't complain about it to line their own pockets. Hell, I have spent half my life escaping from BofA (my original bank in the 60's) as they continually buy up whoever I escape to, LOL. Seriously. My new bank says they'll never let BofA buy them. We'll see...

R.

Art Roflmao

Canon EOS-6D Mark II

11/02/2011 03:42:36 PM · #17

I'm not OWS, 99%er or bank hater, but BofA is Evil. Eeeeevil.

DrAchoo

Panasonic Lumix DMC-LX5

11/02/2011 03:45:17 PM · #18

One of the downsides to a smaller bank though is ATM fees. If you plan on using ATMs you'll probably get hit with more fees than any monthly charge for the account.

I can't say I love BoA, although I loved the people at the branch back in Camas. But I've stuck with them because they have a lot of ATM machines and I haven't paid a fee at an ATM for years and years. I actually don't have any fees on my account period, but I do keep a minimum balance (so I'm essentially paying something because the interest rate is so low).

Canon 12x IS USM (S3 IS built-in Lens) -- 36-432mm (35mm EQ)

11/02/2011 04:03:29 PM · #19

interesting this comes out today:

bank of america is scrapping the debit card fee:

//news.blogs.cnn.com/2011/11/01/bank-of-america-dropping-planned-5-debit-card-fee/

GeneralE

Canon PowerShot S3 IS

11/02/2011 04:06:46 PM · #20

Originally posted by DrAchoo:

One of the downsides to a smaller bank though is ATM fees. If you plan on using ATMs you'll probably get hit with more fees than any monthly charge for the account.

That's rarely true -- most community banks will refund any ATM fees, even if charged by the other (host) bank.

And as I mentioned, most credit unions belong to a very wide network of ATMs you can use for free, AFAIK larger than any ATM network of any of the individual mega-banks.

11/02/2011 04:11:18 PM · #21

im really liking what ing has to offer, i have tons of atm they they dont charge for around my area. there is also a local reginal bank that is pretty popular that doesn't have any fees that i need to check out.

im also curious to see how my current bank handles it when i go to close all the accounts,

DrAchoo

Panasonic Lumix DMC-LX5

Canon EF 100mm f/2.8 USM Macro

11/02/2011 04:23:55 PM · #22

Originally posted by mike_311:

You realize ING is owned by Capital One, right?

It would be interesting to see if we had some blinded menu of bank account features if someone could differentiate the small banks from the big ones and if they would even prefer the small ones.

EDIT: I should say this doesn't matter at all if you are just looking for a good account versus making some statement.

Message edited by author 2011-11-02 16:24:45.

Spork99

OM System OM-1

11/02/2011 04:38:08 PM · #23

Originally posted by DrAchoo:

One of the downsides to a smaller bank though is ATM fees. If you plan on using ATMs you'll probably get hit with more fees than any monthly charge for the account.

I'm in a small Credit Union here, they're part of a CU network. I pay no ATM fees as long as I use an ATM at one of the network CU's. That sounds like it might be limiting, but the network is nationwide. The only time I've had to pay a fee was when I was overseas. I don't pay monthly fees either.

Message edited by author 2011-11-02 16:40:13.