Help Me Pick A Bank

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kcarter609
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Location: VA

Help Me Pick A Bank

Postby kcarter609 » Sat Nov 16, 2013 4:54 pm

Hi,
With my recent move to VA, PNC has hardly any branches here, and none within range of where I live. Chase has NO branches here at all.

My choices seem to be BB&T, Bank of America, Wells Fargo, or some local banks. Unless someone else lives in the Prince George area and knows of others.

Out of that list, I'd probably choose BofA. Experiences, comments, suggestions, other banks?

What's everyone's thoughts on switching to Ally Bank exclusively? Having no brick & mortar bank at all.

Active Cards:
Chase Freedom 10+10 Visa Signature ($9k Limit - 8/2012)
Chase Sapphire Preferred ($10k Limit - 2/2013)
Chase Ink Plus ($7k Limit - 2/2013)
Discover IT ($9.5k Limit - 10/2012)
AMEX Zync (No Pre-set Limit - 1/2010)
AMEX Blue Cash Everyday ($20k Limit - 1/2013 - Backdate to 1/2010)


Sevenfeet
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Location: United States

Postby Sevenfeet » Sat Nov 16, 2013 5:51 pm

Been using Bank of America since 2007. Service is pretty solid, ATMs are everywhere, branch employees are friendly (at least where I live). I also used to support BofA (my company is a major IT vendor of theirs) and so I have an idea of how the employees operate. Lastly, website is pretty good. Not as obvious as it could be for some features but everything you'd want to do is there.
Cards:
American Express Platinum (NPSL)
Penfed Platinum Reward Visa ($28K)
Chase Freedom Visa ($25K)
Fidelity American Express ($20K)
American Express Blue Cash Preferred ($20K)
Bank of America Cash Rewards MasterCard ($20K)
Citi Thank You Preferred Visa ($9.5K)
Chase Sapphire Preferred ($7.5K)
US Bank Cash + Visa Signature ($7K)
Discover IT ($4K)

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Terry
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Location: Texas

Postby Terry » Sat Nov 16, 2013 5:53 pm

I am a loyal customer of Wells Fargo because their branches are open six days a week until 7pm and also they are in just about every town I visit.
AMEX Green Card - NPSL [Member Since 1995] ;)
AMEX Everyday Card ($25,000) 6/14 Backdated to 1995 - For 20% Extra Points Benefit
Chase Freedom Visa Signature ($17,000) - For 5% rotating categories
Citi ThankYou Preferred Visa Signature ($16,000) - 2% dining
Discover IT Humane Society Design ($16,500) - For 5% rotating categories
Firestone ($2,600) - For 0% financing
Home Depot ($10,000) - For 0% financing
JCPenney Credit Card ($7,000) - For special discounts
Sam's Club MasterCard - ($20,000) - 5% off gas at any fuel pump
Wells Fargo Personal Line of Credit - ($15,000)

FICO's - 767 EX, 778 EQ, 790 TU [02/2015]

whit
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Postby whit » Sat Nov 16, 2013 6:59 pm

lemme ask you, how do you typically do your banking?

by that I mean do you write checks?
how often do you use the ATMs?
what are typical balances you keep?

for me, I don't use debit cards, and charge everything on the card. from my bank account I pay my cc.

for checks I have to write, or for the times I need to get cash (*shakes fist at cash only*) I would use a small account I set up with Chase that gets part of my dd to keep it fee free.

this is before I discovered Charles Schwab

I HATE telling this on the internet, but really, I guess it won't hurt

they are fantastic. they're like a blend of mortar and brick (10%) and online banking (90%)

I opened my account online, with brokerage..easy peasy

I had checks ordered (free) and ATM card (free)

and then I'm set.

I still keep my chase account because I rather avoid abusing Schwab's generous ATM fee rebates (I easily transfer funds if needed but hasn't gotten to that point yet)

also because I got mine for free so why not


But Schwab's really great and unless u do stuff like cash deposits, ATM withdraws frequently (more then once a month), or if you get turned down for check deposits..

just my two cents.

DavidNY
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Postby DavidNY » Sat Nov 16, 2013 7:00 pm

BofA and WF are decent. No experience with BB&T. I suggest also checking local CUs for perks like ATM fee reimbursement.

whit
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Location: ca

Postby whit » Sat Nov 16, 2013 7:02 pm

DavidNY wrote:BofA and WF are decent. No experience with BB&T. I suggest also checking local CUs for perks like ATM fee reimbursement.


mine reimburses and doesn't charge. it also didn't charge me anything overseas, in ATM fees or FT :)

kcarter609
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Location: VA

Postby kcarter609 » Sat Nov 16, 2013 7:17 pm

whit wrote:lemme ask you, how do you typically do your banking?

by that I mean do you write checks? [color="red"]Rarely[/color]
how often do you use the ATMs? [color="red"]Once in a while. Maybe once a month[/color]
what are typical balances you keep? [color="red"]Upwards of $10k all the time[/color]

for me, I don't use debit cards, and charge everything on the card. from my bank account I pay my cc. [color="red"]I do the same[/color]

for checks I have to write, or for the times I need to get cash (*shakes fist at cash only*) I would use a small account I set up with Chase that gets part of my dd to keep it fee free. [color="red"]I keep the $1,500 minimum in my Chase Checking account to get the 10+10 bonus and to keep the account totally free without the need for any DD to go there[/color]

this is before I discovered Charles Schwab

I HATE telling this on the internet, but really, I guess it won't hurt

they are fantastic. they're like a blend of mortar and brick (10%) and online banking (90%)

I opened my account online, with brokerage..easy peasy

I had checks ordered (free) and ATM card (free)

and then I'm set.

I still keep my chase account because I rather avoid abusing Schwab's generous ATM fee rebates (I easily transfer funds if needed but hasn't gotten to that point yet)

also because I got mine for free so why not


But Schwab's really great and unless u do stuff like cash deposits ([color="red"]Very rarely. I put cash on my Bluebird card and just pay it towards my CC bill because it's much easier than driving to the branch since Walmart is much closer.[/color]), ATM withdraws frequently (more then once a month), or if you get turned down for check deposits..

just my two cents.


I'm honestly debating really between BofA and Ally

Active Cards:
Chase Freedom 10+10 Visa Signature ($9k Limit - 8/2012)
Chase Sapphire Preferred ($10k Limit - 2/2013)
Chase Ink Plus ($7k Limit - 2/2013)
Discover IT ($9.5k Limit - 10/2012)
AMEX Zync (No Pre-set Limit - 1/2010)
AMEX Blue Cash Everyday ($20k Limit - 1/2013 - Backdate to 1/2010)

whit
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Postby whit » Sat Nov 16, 2013 7:27 pm

try Charles Schwab, they give u a little interest (.10 now but better then 0 or .01) and it's mobile app is easy to use as well as online but I use the mobile app almost always

and they rebate ATMs, any, and great for when u travel overseas

customer service is superb

have a bofa if you must

but between Charles Schwab and my ING I'm set. I keep banks like chase and bofa for conveniences..I'm wary of wells because of the stories I hear (they take sales to a whole new level and is the one who invented cross sells and conveniences or whatever you call them)

kcarter609
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Postby kcarter609 » Sun Nov 17, 2013 2:53 pm

So I'm going to use Ally as my primary bank and set up a BofA account just to have a B&M bank if the need arises. I'll keep my Chase Checking account with the $1,500 minimum so I don't pay fees on it. That way I'll get the 10+10. Once I get notice that my 10+10 is no longer active, I'll cancel that account and move the money out.

Active Cards:
Chase Freedom 10+10 Visa Signature ($9k Limit - 8/2012)
Chase Sapphire Preferred ($10k Limit - 2/2013)
Chase Ink Plus ($7k Limit - 2/2013)
Discover IT ($9.5k Limit - 10/2012)
AMEX Zync (No Pre-set Limit - 1/2010)
AMEX Blue Cash Everyday ($20k Limit - 1/2013 - Backdate to 1/2010)

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otter
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Postby otter » Sun Nov 17, 2013 4:56 pm

Having dealt with all three banks as recently as this year (BB&T, BoA, and WF), if given the choice of dealing with those three, I would pick BB&T over the other two. Of course, I say that but have done the opposite (I currently have accounts with WF and BoA because BB&T has no footprint where I live, Wells is one of the only large banks with a footprint in Wyoming, and I am "grandfathered" into a BoA account which is no longer offered which offers no fees as long as I don't visit a branch). Of the three, BB&T offers the best service and they're not as likely to "test" new fee structures/products which screw over their customers (Wells Fargo and Bank of America were two of the big three who wanted to charge their customers to use their debit cards).

But as others have suggested, Schwab is the way to go and that's where the majority of my money gets direct deposited. Their customer service is top notch, you get reimbursed for any ATM fees, and their website/mobile app is great. Sure, Ally has a little better interest rate, but their customer service is just as terrible as it was when they were GMAC. Is it worth an extra $20 a year or so in interest if it means you have to talk to "Peggy" when you have an urgent banking issue which needs taking care of?
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450



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