Which bank is good for a checking account?

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ivotedale
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Postby ivotedale » Thu May 03, 2012 7:07 pm

Moneytalks wrote:You want to share what bank/credit union, etc your high interest savings account is with or are you going to keep it a secret haha??


It's no secret at all- I'm just w/ Amex's high-yield savings acct, currently at .75% interest I think. It was around a full 1.0+% when I joined, but since then Amex and others' interest have gone down.

It's certainly not much, but 100x better than Chase's "savings account" of .01% interest yield or similar- and why not have your money doing something while it's doing nothing? The Chase teller had no argument against me closing that account.
Currently: American Express Blue Sky, American Express Zync, Chase Freedom Visa, Capital One Newcomers--->converted to Capital One Quicksilver Mastercard NO AF


Moneytalks
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Postby Moneytalks » Thu May 03, 2012 9:31 pm

ivotedale wrote:It's no secret at all- I'm just w/ Amex's high-yield savings acct, currently at .75% interest I think. It was around a full 1.0+% when I joined, but since then Amex and others' interest have gone down.

It's certainly not much, but 100x better than Chase's "savings account" of .01% interest yield or similar- and why not have your money doing something while it's doing nothing? The Chase teller had no argument against me closing that account.


Haha, banks are definitely not the way to go for savings accounts...I was actually asked last time I cashed a check if I wanted to open a savings account with them and I just said "No thanks, I'll pass" because I knew it was going to be some ridiculously low rate...
Wallet: Amex BCE & Chase Freedom. (Credit Card dieting since 2014)

Celestine
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Postby Celestine » Thu May 03, 2012 10:16 pm

Moneytalks wrote:Can anyone recommend a good bank for checking account? (Not Chase)


Open a checking account at any bank that has a physical location. Then open an online money market account. Set an automatic monthly transfer of funds from your checking account to money market account. Just letting your money sit at your checking account, even if it bears interest, is not a good way to do it.

Even checking accounts that bears interest are no match for online money market accounts.

Just my two cents...
"Nearly all men can handle adversity, but if you really want to test a man's character - give him power." - Abraham Lincoln

altayar88
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Postby altayar88 » Fri May 25, 2012 3:32 am

I like Chase. Very neat and high quality service.

VictorM
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Postby VictorM » Fri May 25, 2012 5:29 pm

I have a Charles Schwab checking account that is linked to a brokerage account. I also have one with my local Credit Union to do transfers to my Schwab. Schwab is by far my favorite, No ATM fee's LOL. Well, they do charge you the fee's, but they return them at the end of the month. If you do many ATM transactions I would recommend Schwab.

ivotedale
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Postby ivotedale » Fri May 25, 2012 10:16 pm

VictorM wrote:I have a Charles Schwab checking account that is linked to a brokerage account. I also have one with my local Credit Union to do transfers to my Schwab. Schwab is by far my favorite, No ATM fee's LOL. Well, they do charge you the fee's, but they return them at the end of the month. If you do many ATM transactions I would recommend Schwab.


I've been looking into Charles Schwab checking- seems almost perfect, but opening a brokerage account seems a little unnerving, mostly because I haven't delved into it at all. That, and my Blackberry doesn't support an app for quick check deposits (I'd have to use snail mail).

This still sounds highly convincing though- I wouldn't mind leaving Chase, as far as checking accounts go anyway.
Currently: American Express Blue Sky, American Express Zync, Chase Freedom Visa, Capital One Newcomers--->converted to Capital One Quicksilver Mastercard NO AF

ivotedale
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Postby ivotedale » Sun Jun 10, 2012 6:21 pm

Bumping an old post, but I just bit the bullet and went to open a Charles Schwab checking and brokerage account online. Easy and simple to set up.

Haven't had a chance to deposit funds into it yet, so no further progress can be reported- though I don't think they send you a debit card/etc until you do so.

So glad to be leaving Chase though- keep getting hit with fees.

Anyone else have experience w/ Chuck?
Currently: American Express Blue Sky, American Express Zync, Chase Freedom Visa, Capital One Newcomers--->converted to Capital One Quicksilver Mastercard NO AF

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Victorleo
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Postby Victorleo » Tue Jun 12, 2012 5:09 pm

I have my brokerage Account with Chuck and only use the bank side to do transfers from my CU. So far I’ve been very impressed with the customer service. I would say it rivals Amex. I hope there banking division is just as helpful to you. And I think the debit card look pretty cool.

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Dues
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Postby Dues » Sun Jun 17, 2012 8:33 pm

Hey Guys,

I know I'm late to the party for this post but I'm wondering why people like schwab so much here? I started a post recently in off topic about high % interest savings accounts and browsing the forum found this. Looking at their website it looks like they only offer .15% interest rates however I found other places that offer anywhere from .85% to 1%

Just curious why people prefer the .15% schwab offers as there must be something I'm missing and another benefit they offer.

DavidNY
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Postby DavidNY » Sun Jun 17, 2012 10:14 pm

I know Schwab reimburses ATM fees. Maybe its just more convenient to have a checking account there if you're doing trades with them. I guess that's the equivalent of a cash management account at Fidelity, but that is a non-interest bearing account.



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