Who do you bank with?

[nissangirl74]

If you bank with Chase, Bank of America, Ctitbank, or Wells Fargo you might want to do some research about their fee schedule. According to this article, http://finance.yahoo.com/news/Slay-new- ... 1.html?x=0, some significant fees are going to be implemented soon.

for example,
Bank of America: Currently, Bank of America charges an $8.95 monthly maintenance fees on most checking accounts. But customers could get those charges waived if they make at least one direct payment each month or maintain a balance of $1,500.

Starting at the end of the year, that will all change. If you want a basic checking account where you don't have to worry about keeping up balances of making minimum deposits, you're going to pay a $9 monthly fee. No way around it.

Can't stand the idea of paying a fee? You'll have to enroll in "enhanced" checking and keep a balance of $5,000 in your total linked deposit accounts --which includes checking, saving and investment accounts. Or you can deposit at least $2,000 monthly, or use a linked credit card at least once a month. If your balance drops below $5,000 or you don't meet the other requirements, you're charged a $15 fee.

No thank you.

[themadscientist]

Go to a credit union.
http://articles.moneycentral.msn.com/Ba ... Union.aspx

By Liz Pulliam Weston

A lot of you are really and truly sick of your banks.

You're sick of getting socked with fees, or tripped by hidden penalties, or earning lousy interest rates. You're tired of being treated like a nuisance rather than a customer. And yet you have little hope that the bank down the street is any better.

But who says you have to settle for a bank? Relief could be as close as the nearest credit union.

Because so many people are fuzzy about the differences between banks and credit unions, I'll highlight the three most important distinctions:

* Credit unions are member-owned. If you have an account at a credit union, you're a part owner in the enterprise. That may not entitle you to use the executive washroom -- your CU probably doesn't even have an executive washroom -- but you're likely to be seen as a person rather than as a "cost center."

* Credit unions are not-for-profit. This status helps explain why interest rates tend to be significantly better, and fees fewer and smaller, at credit unions than at banks. Any profits credit unions do make are distributed as dividends to their members. Contrast that with banks, which continually invent new fees and policies to boost profits (and to pay those stunning executive salaries).

* Banks hate -- hate -- credit unions. President Franklin D. Roosevelt signed the Federal Credit Union Act into law in 1934 to "promote thrift and thwart usury," and banks have been gunning for them pretty much ever since.

Because of their not-for-profit, cooperative structures, credit unions are exempted from most state and federal taxes. Banks have convinced themselves this is an unfair advantage and have spent a lot of effort, plus a fortune in lobbying fees, trying to legislate credit unions out of existence, or at least limit who can join. (I guess they thought the money was better spent there than on, say, improving their interest rates, reducing their fees or slashing their telephone hold times.)

I have used a credit union for almost twenty years and they have been fantastic.

[szh]

Also check out ING Direct ... http://www.ingdirect.com ... they are fee-free for Savings and Checkings, and also offer better interest rates than regular banks (down from a high though). I have a Savings Account with them, and I going to transfer my Checking Account to ING Direct too.

After having had a Checking account with Bank of American for more than 21 years now, this absurd fee system is irritating. Plus, the fact that their interest rate on the account is ridiculously low makes it a non-working approach now!

Z

[darens13]

i use key bank. im sort of on the fence about that i think about them.

[Ron Burgundy]

Wells Fargo.

Never had a problem. Their customer service is excellent and their online banking system is easy to use. They've never given me any reason to switch.

I read about the fees they will be enacting, but luckily they do not affect me. Don't get me wrong, I could see it being a problem for some, but I will continue banking with them!

Thanks for sharing!

[Jesda]

A local bank. I walked in and asked if they ever took TARP money. They said no so I handed them my money.

[ProudNissanFreak]

Suntrust, but only because the employees are all female and hot. And they don't charge me monthly for useless crap. But mainly because they're female and hot

[Amays U G37S]

I'm glad we're all military and get a choice between Navy Fed and USAA. Any other bank is crap. Used to have a checking with BOA, charged $5 a month cause I was no longer cashing checks through them. Bogus. I HATE BOA. To bad our Business account is with BOA. However, that is where all the bogus charges end, and there is better account management.

Word of knowledge: BoA has been around for YEARS. They process EVERYTHING. It is AMERICAS BANK.

[themadscientist]

Navy Fed FTW. Great institution.

[BusyBadger]

I keep all my cash in Mason jars buried in secret caches all over eastern Tennessee.

Actually, I use a credit union. The money stays in the community and with the members, just as it should be.

i use key bank. im sort of on the fence about that i think about them.

I used Key for ages and never had a problem with them, I ended up changing banks when I moved and there wasn't a brick & mortar branch nearby. All the Key Bank branches I used had a very local "Mom & Pop" feel and service was always great.

[PapaSmurf2k3]

https://www.renasantbank.com/

I haven't been to a branch in months. No fees, they actually pay ME! I get 3% APY, compounded monthly, and they pay for any ATM fee in THE WORLD.

All in all, that bank deposits roughly $25-$35 into my account every month. Can't beat that.

[MinisterofDOOM]

Mountain America credit union. Auto loan is through them as well. They've been great to me, branch staff are intelligent, friendly, and helpful, they all know me by name, and I've only ever had one very small issue with them. They have a well-designed Android app that lets me do a lot of stuff with my accounts straight from my phone, too.

[Dattebayo]

Credit unions are good for savings accounts, but SunTrust is my checking bank. Everything is free if you maintain at least three direct deposits in three months. They are pretty good about letting you pay overages without charging you the fees right away. You get something like 5 days to pay anything you went over.

[liquid_cool]

at this point..i dont trust banks or my government at all...ive been buying gold and metals to suplament my saving's...and keeping it on the D/L...i keep emergency cash in my safe...next to my desert eagle .50...i feel mighty safe this way

[Kompresshun]

We bank with USAA and have been for almost 5 years now, never had one bit of problem from them. We have a savings account and car loan through University of Kentucky Federal Credit Union and they've been great as well. Credit Unions rock

[Chaotic_Warlord]

I have BOA, and honestly I've never really had an issue with them and when they did charge me fees I just go to the bank manager and he reverses them and puts the money back into my account, plus I get cash back everytime I use my Visa debit card and get a discount on my insurance because it Geico has a partnership with BOA. Not to mention I'm enrolled in their cash back program (as well as Geico's) so I get money put back into my savings account when I shop at certain places.

I have direct deposit so I don't get charged any fees and my pay checks are BOA checks so I definitely don't get charged fees. I've had my BOA accounts since '07 and have never had any real problems. Had Wachovia and Commerce before and they were both nothing but headache after headache.

[PEZi]

i use a local credit union... best thing ever!

[C-Kwik]

If you bank with Chase, Bank of America, Ctitbank, or Wells Fargo you might want to do some research about their fee schedule. According to this article, http://finance.yahoo.com/news/Slay-new- ... 1.html?x=0, some significant fees are going to be implemented soon.

I looked over the BofA fees on their website and ultimately, they look similar to the structure they had when I worked there some 15 years ago. People back then made poor choices about which kind of account to get and I suspect they still do. Few people need to ever see a teller. I saw a teller last month to get a cashier's check but before that, I think it had been more than a few years since I had to go into a bank (which were usually for larger withdrawals that an ATM can't provide). I can handle most things by ATM/Debit or through online banking. Most people who came into a branch could have easily gone to an ATM and avoided the line. Most people probably have access to direct deposit from their employer and/or can stick to online and ATM banking in which case, their MyAccess or eBanking account would work just fine.

That said, a neat trick I've come across for BofA is that if you transfer money from your PayPal account to your checking account, it picks it up as a direct deposit. Not sure if that will change nor have I confirmed it explicitly, but every time I've moved money from my PayPal account to my checking, I didn't get hit with a monthly fee. Assuming this can still be done, one could obtain free checking by simply shuffling money back and forth with PayPal each month...

My recommendation for everyone is to look over each bank's checking accounts and see what works best for you. Chances are there are plenty of options to get free checking (as there always have been).

Credit unions are indeed a good option as well. I don't qualify to get into any of the local ones though. And they tend to be less widespread so finding an ATM can be inconvenient or costly if I use another bank's ATM.

[MaximA32]

I'm with Wells Fargo for the time being. They say I have to deposit $25 into savings (minimum, via recurring, automatic transfer) a month in order to maintain my "free" checking or I'll be charged a fee. To avoid said fees, I set the transfer up to go the day after I get paid. The process is two transfers. First $25 transfer goes from checking to savings. I let it sit for a day and then I set up a second transfer of $25 to go from savings to checking. Viola, no fees. It's kind of lame but I had B of A for a couple years but they hit me with some ridiculous fee and I switched. No complaints with WF thus far.

[4WOFURY]

Hancock Bank. Great bank. No fees. They cover any atm fee, any where, any time.

[GrilledCheese33]

Suntrust, but only because the employees are all female and hot. And they don't charge me monthly for useless crap. But mainly because they're female and hot

Dude same thing at my suntrust branch. I love making deposits lol. Ive been with suntrust for 6 years and no complaints here. No fees yet either...

[krimsonviper]

I use a local CU, but my loan is through Chase.

[CanuckQx4]

Td!!!

[nissangirl74]

Credit Unions FTW! Greg was banking with one when I got here and I always banked with credit unions in TN for checking, savings, and auto loans. I did some research when I got here about switching to a national bank but none of them had a better deal and they ALL had fees. Not interested in paying a lot of $ for great customer service when we can get it for free locally.

[dirtyNXerchickie]

Wow. This reminds me of all the trouble we had with M&T. They used to take money from our account before the charges from our other services went through and totally screwed us on more than one occasion. We switched to HSBC and haven't looked back. It's so great walking in and being treated like a client, not a suspect.

[Encryptshun]

JPMorgan Chase: Beginning Feb. 8, Chase will enroll most of its new customers in a checking account called Total Checking.

<snip>

If you keep your old account, you'll get charged a $6 monthly fee unless you make a direct deposit at least $500 per month or make five debit card purchases.

I'm confused. If you are a new customer, how can you have an "old account" to keep. Chase hasn't sent me anything to notify me of any impending changes...

[eellie]

i keep all my monies under my mattress

NO FEES YO