Question: Online bank recommendations?

I use a smaller local credit union. I'll never use any large national bank
 
I'm old-fashioned. Don't get me wrong, I use the on-line banking option a lot, but I want a branch I can walk into and know the tellers by name. Like Alex, I use a local bank that just merged with another local bank, making it a slightly larger local bank.
 
I had an account with ING before it became... Whatever it is, now. Honestly, it proved to be more of a pain in the ass than anything. We ended up just letting it languish with 30 cents in it as the end. We kept our TD Bank account through that.
 
That used to be the case but my understanding is they've opened the gates a little more. I don't have details.
 
Credit Unions or nothing. I'd rather keep my money in a pile under the mattress than go with a regular bank again.
 
FWIW, having seen the local/regional bank from the other side of that equation, you're nothing to most of them except deposit dollars. Granted, the branch staff might be all smiles and sunshine but to everyone else in that organization, you're nothing but deposit $. A large business or massive account holder, OTOH, they will bend over backwards for.

I have a couple different bank accounts but for online banking, Charles Schwab has been great. You can do everything online or via app and have multiple checking, investment, savings and 401s under one logon to manage them. Deposit checks, transfer funds between accounts & managing it all is a snap.
 
Yeah, the online only banks are more hassle than anything else. Better off using the online option of an actual brick and mortar, branch having bank.

We opened some accounts with HSBC online several years ago, because it sounded good and they offered great interest rates on savings. Shortly thereafter, the economy tanked and the interest rate dropped from 7% to less than 1% incrementally over the next few months.

Meanwhile, the actual banking portion was just a complete pain in the ass. There are no HSBC branches in California. To deposit a paper check required putting it in an envelope and mailing it off to some processing center thousands of miles away. What could go wrong there?

Also, no ATM's. Using another banks ATM (if you could find one that used the same shitty network instead of Cirrus) cost like 4 bucks.

Fuck all that.

Btw, FWIW. .. Ally is still effectively GMAC but with the Federal Government involved. So it's basically run by not one, but two entities that are completely incapable of making sound business decisions.
 
OGG said:
Yeah, the online only banks are more hassle than anything else. Better off using the online option of an actual brick and mortar, branch having bank.

We opened some accounts with HSBC online several years ago, because it sounded good and they offered great interest rates on savings. Shortly thereafter, the economy tanked and the interest rate dropped from 7% to less than 1% incrementally over the next few months.

Meanwhile, the actual banking portion was just a complete pain in the ass. There are no HSBC branches in California. To deposit a paper check required putting it in an envelope and mailing it off to some processing center thousands of miles away. What could go wrong there?

Also, no ATM's. Using another banks ATM (if you could find one that used the same shitty network instead of Cirrus) cost like 4 bucks.

Fuck all that.

Btw, FWIW. .. Ally is still effectively GMAC but with the Federal Government involved. So it's basically run by not one, but two entities that are completely incapable of making sound business decisions.
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FWIW, w/ schwab none of that applies:

http://www.schwab.com/public/schwab/banking_lending/checking_account
What are the fees and minimums?
  • Monthly service fees: $0
  • Account minimum: $0
What do I get with this account?
  • Unlimited fee rebates from any ATM worldwide1
  • A 0.10% APY variable interest rate on any balance2
  • Free bill pay on Schwab.com and Schwab Mobile
  • Apply for Schwab Mobile Deposit™ to deposit checks from anywhere
  • Free standard checks and a Visa® Platinum debit card once the account has been funded.
  • FDIC insurance up to $250,0003
  • A linked Schwab One® brokerage account
I take a pic of the front and back of the check and it's done...deposited in my account and clears just at quick as handing it to a teller w/ a deposit slip. w/ online bill pay, I can cut a check to anyone for anything with out touching pen to paper. They mail it directly to the payee when EFT isn't an option, for free.
 
Lerxst said:
FWIW, w/ schwab none of that applies:

http://www.schwab.com/public/schwab/banking_lending/checking_account
What are the fees and minimums?
  • Monthly service fees: $0
  • Account minimum: $0
What do I get with this account?
  • Unlimited fee rebates from any ATM worldwide1
  • A 0.10% APY variable interest rate on any balance2
  • Free bill pay on Schwab.com and Schwab Mobile
  • Apply for Schwab Mobile Deposit™ to deposit checks from anywhere
  • Free standard checks and a Visa® Platinum debit card once the account has been funded.
  • FDIC insurance up to $250,0003
  • A linked Schwab One® brokerage account
I take a pic of the front and back of the check and it's done...deposited in my account and clears just at quick as handing it to a teller w/ a deposit slip. w/ online bill pay, I can cut a check to anyone for anything with out touching pen to paper. They mail it directly to the payee when EFT isn't an option, for free.
Click to expand...
Wow, not bad. Not bad at all.

As far as I know, HSBC still hasn't gotten with the program in terms of the whole mobile deposit thing, which, considering their status as a global behemoth, is shocking.

And as for the fees... never gonna happen. Those bastards love their fees.
 
We've had the Schwab account for the past 4 years and everything has been smooth sailing after getting it all setup initially. Still have local bank accounts too but most of our household transactions go through the online account
 
Working for a bank, I get their best account for free, which sounds a lot like Lerxt's Schwab account.

I'd never meet the minimums to get it for free otherwise.
 
I have been with Wells Fargo for 15 years and only because I had a family member as branch manager. What are these fees you speak of?
 
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