Favorite bank

[MickeyMouseCD524]

I'm honestly at the end of my rope with Chase. They've raised so much hell on our business accounts and this month more than ever has made us realize we need to say goodbye. Can anyone recommend a different/better bank to switch to?

 

[ruadisneyfan2]

Not specifically but here is a website that tracks bank bonuses being offered. If you're going to try some new banks out, you may as well get some perk for trying them.
We don't have business accounts but dh and I sign up separately to double our bonuses. For 2017 & 2018 we made over $5000 each year in bonus $. I probably would have again this year but I lost my mother last spring and didn't start any more until Sept.
(He does disclose that he doesn't get any referral perks when people open bank accounts but he does when someone opens a credit card from his links.)
Good luck and hope you find a bank that works for you!

https://www.doctorofcredit.com/best-bank-account-bonuses/
eta: Despite trying all of these banks, I still like our small, local bank the best.

 

[barkley]

i love using a local credit union. all the same bells and whistles of a big bank but live people on the phone, long term and knowledgeable people in the branches. no/lower fees, higher interest than i've seen anyone post for any of the on-line for savings/cd's, lower rates on all forms of loans.

 

[tvguy]

i love using a local credit union. all the same bells and whistles of a big bank but live people on the phone, long term and knowledgeable people in the branches. no/lower fees, higher interest than i've seen anyone post for any of the on-line for savings/cd's, lower rates on all forms of loans.

That was my mindset until about 6 years ago, but the two credit unions we were dealing with seem to have changed. No more real people. Fees for everything, and their interest rates really aren't much different different than the big old banks. We dumped one Credit Union 6 years ago. The other I have no real issues with for me, but as I posted in another thread here, they wouldn't give my daughter an auto loan, but the big banks would. They wouldn't give her a mortgage when a big bank would. And in the past month they have imposed rules that prompted some of her electronic payments to be rejected, where the big bank would let those go through, but issue a warning that after that point, they would not.
My big bank, which I did not think I would like when they purchased my small bank in 1996, has been wonderful. I've got a "Personal Banker" whose services I really don't need because their system seems to work just fine. And I have a Financial Adviser on their Brokerage side who has guided my investments and retirement savings for 25 years.

 

[DisneyHardin]

We have accounts at US Bank and Fifth Third and have no complaints with either one.

 

[disney212]

Huntington Bank for 20+ years. No issues.

 

[belle032]

I’ve used Ally for a few years now and love it. It is a total online bank so some people don’t care for that, but no complaints. Their customer service is awesome and their interest rates are consistently good as well. I can transfer between accounts instantly, get my ATM fees reimbursed, deposit checks through my phone, etc. I don’t miss having an actual brick and mortar bank at all.

 

[kaytieeldr]

And in the past month they have imposed rules that prompted some of her electronic payments to be rejected,

Is that the one where she unknowingly violated laws relating to savings account transactions? Why do you think banks would reverse the fees?

 

[ruadisneyfan2]

Is that the one where she unknowingly violated laws relating to savings account transactions? Why do you think banks would reverse the fees?

If that is the case, I'd be glad to just accept the fee. Ds19 uses Capital One 360. When he exceeded the 6/month rule he got a warning with a threat that they'll close his account if he does it again. It's a federal law so it applies to all banks in the US. They all may vary how they handle things when customers exceed 6 but I don't think any of them are going to sit back and let people keep doing it.

 

[OrangeBirdGirl]

That was my mindset until about 6 years ago, but the two credit unions we were dealing with seem to have changed. No more real people. Fees for everything, and their interest rates really aren't much different different than the big old banks. We dumped one Credit Union 6 years ago. The other I have no real issues with for me, but as I posted in another thread here, they wouldn't give my daughter an auto loan, but the big banks would. They wouldn't give her a mortgage when a big bank would. And in the past month they have imposed rules that prompted some of her electronic payments to be rejected, where the big bank would let those go through, but issue a warning that after that point, they would not.
My big bank, which I did not think I would like when they purchased my small bank in 1996, has been wonderful. I've got a "Personal Banker" whose services I really don't need because their system seems to work just fine. And I have a Financial Adviser on their Brokerage side who has guided my investments and retirement savings for 25 years.

The little banks by us are getting hard on people to. My mom manages a branch of a very small regional bank (4 locations). For people to get a car loan they need 25% down. And for a home loan it takes weeks for approvals. Hard for people starting out to try and stick with the local places. Hers also implemented in 2018 they won’t even give a loan unless $5k+. While a lot of people may see this as not an issue, I’m sure many homeowners might need a small loan, such as a new furnace or some other home repair that comes up.

 

[Etonduf]

Another vote for working bank bonuses here. Like @tvguy I used to love my credit union but they've become no different than the big boys, except they have the inconvenience of very few branches on the rare occasion that I need one.

Now I rotate through and earn bank bonuses. I still have my CU account, mostly because they hold my mortgage loan and I get a reduced APR as long as my payment is deducted from my CU checking account. So our paychecks go to whatever banks we're currently using for bonuses, and then I transfer enough to cover the mortgage payment each month. In the process I've learned that I don't care about having a relationship with a bank. I'm just their customer, and they're just my bank--no more, and no less.

I'm not as aggressive as some, but my spouse and I made about $3,600 on bank bonuses in 2019. I budget all of that money for travel so that it feels like we get something fun out of it.

It may not be for everyone but it's at least worth looking into.

 

[tvguy]

Is that the one where she unknowingly violated laws relating to savings account transactions? Why do you think banks would reverse the fees?

The credit union didn't impose any fees. The companies whose payments were rejected imposed late fees. HOWEVER, in my experience with a bank, not a credit union. You got a warning letter that you were in violation, and that if it continued the account would be changed to a checking account. But credit unions may do things differently.

 

[tvguy]

If that is the case, I'd be glad to just accept the fee. Ds19 uses Capital One 360. When he exceeded the 6/month rule he got a warning with a threat that they'll close his account if he does it again. It's a federal law so it applies to all banks in the US. They all may vary how they handle things when customers exceed 6 but I don't think any of them are going to sit back and let people keep doing it.

Exactly

 

[barkley]

If that is the case, I'd be glad to just accept the fee. Ds19 uses Capital One 360. When he exceeded the 6/month rule he got a warning with a threat that they'll close his account if he does it again. It's a federal law so it applies to all banks in the US. They all may vary how they handle things when customers exceed 6 but I don't think any of them are going to sit back and let people keep doing it.

mine will let you exceed-at a 5.00 fee for each. i don't know if they have a tolerance level after which exceeding it they put a stop to it but we've had to exceed a few times over the years as had our dd on her's. on line we get a warning notice on the payment/transfer screen and then have to acknowledge we understand the rule and are accepting the penalty fee. when we set up auto payments from dd's and the system realized that with the existing transfers that account does it would exceed 6 we got the same warning/fee notification.

The credit union didn't impose any fees. The companies whose payments were rejected imposed late fees. HOWEVER, in my experience with a bank, not a credit union. You got a warning letter that you were in violation, and that if it continued the account would be changed to a checking account. But credit unions may do things differently.

i'm honestly surprised she didn't also get hit with a fee from her credit union. with every type of financial institution i've dealt with any payment (check or electronic) that 'bounces' at the back (either lack of funds or violation of terms of account) would incur a bank fee on top of the vendor's fee. i've had banks that do them even if you have overdraft protection on an account.

 

[Pesky]

USAA. We’ve been very happy with them. No bricks and mortar nearby but they will refund any charges for a cash withdrawal up to a certain number of visits every month.

 

[RUDisney]

My DH and I worked for the same community bank for 26 and 19 years, respectively. We still have accounts there, but we moved the bulk of everything to Wells Fargo.

We are treated like trash by our long time employer (we were both VPs. I started the IT department and he was a commercial lender). It is amazing how that bank has changed over the years. It doesn't matter whether the person knows us or is a stranger to us.

Wells Fargo, OTOH, is wonderful to us. Whenever we have to go into a branch (not often) we are greeted at the door, before we get to the teller line or to one of the customer service people. This has been true wherever we go. If we have questions, the staff bends over backwards to help us, whether its in person or through the 800 number. I can't say enough good things about this bank.

 

[gottalovepluto]

I'm honestly at the end of my rope with Chase. They've raised so much hell on our business accounts and this month more than ever has made us realize we need to say goodbye. Can anyone recommend a different/better bank to switch to?

Since you’re looking for business accounts have you considered Wells Fargo? Their minimum is only $500 vs Chase’s $1500 for businesses to prevent AF. The interface online is not as clean as Chase’s. I haven’t used them as a full business account but in your shoes I’d “try” them out. Keep your Chase account whole test driving your WF.

If PNC is a local bank for you I know they have business accounts as well.

ETA: check for bank bonuses before you open the account but don’t let the lack of one stop you. It sounds like you are DONE with Chase, moving on sooner could be worth passing on a potential bonus for.

 

[pryncess527]

USAA forever

You need a military connection to use their insurance products, but anyone can open a regular banking account with them. Admittedly, they do not offer the highest saving interest rates, but they give free checks, reimburse ATM fees from other banks and have generally great customer service

 

[MickeyMouseCD524]

Thanks everyone! I'll look into the bank bonuses. I keep getting told that moving to Wells Fargo is a bad idea because of all the opening accounts and transferring funds around without customer consent that they did. And that's the kind of nonsense I'm trying to get away from with Chase. PNC bank is looking like a front runner though. I've looked at USAA in the past but the only military service we have in my immediate family is my granddad and I've been told he doesn't count.

 

[MrsBooch]

I’ve used Ally for a few years now and love it. It is a total online bank so some people don’t care for that, but no complaints. Their customer service is awesome and their interest rates are consistently good as well. I can transfer between accounts instantly, get my ATM fees reimbursed, deposit checks through my phone, etc. I don’t miss having an actual brick and mortar bank at all.

I agree re: Ally however if anyone wants to open Business Accounts at that bank - please understand they do not allow for it. Only personal banking - no business accounts.
But for personal banking - they are awesome.