Can you recommend some good banks? (Baltimore, Owings Mills: mortgage, credit, loan)

[timlee]

I would like to choose some bank(s) that is(are) good with checking and saving accounts and debit cards.


Consider common factors, for example (what I can think of and I may miss important features as I am a newbie):

1. maintainence fee for checking and saving accounts (if free with some minimum balance?)

2. easiness of money tranfer online with other banks' accounts (under the same owner, or between different owners)

3. popularity and fees for ATMs locally (Baltimore, MD) and nationally (and world-wide) for getting cash with debit card, and/or for possibly depositing cash (which is important if local branches are not widely available)

4. popularity for local branches both locally (Baltimore, MD) and nationally (and world-wide) for depositing cash

5. fees for overdraft protection

6. fees for checks (issuing fee and bouncing fee)

...

Thanks!

[ichy]

A lot of people like to hate on Bank of America but I actually like them. You need a monthly direct deposit in order to waive the account fee, but they have ATMs everywhere & smart phone check deposit. Don't waste your time with their savings accounts though, the interest rates are a joke.

[goldenage1]

The B of A is probably the only "national" firm. I have liked Chevy Chase, which has a few branches in Baltimore, and more in Washington, DC and Virginia. I currently use BBT which has branches through-out the Southeast. If you have direct deposit to either, the checking is free.

If you are able to, I would suggest using a credit union for lower fees and state-wide available ATM's. The State Employees Credit Union has some liberal joining criteria. (I was eligible as the spouse of a former state employee.)

[bmorephillynyboston]

Susquehanna bank has a zero fee checking account and savings.

[oneworld25]

Try and join a credit union. If you live, work, or worship in Baltimore City there are a number of credit unions you can be eligible for. You may also be eligible to join a credit union depending on your employer or if you want to a state university.

[Michael21214]

Here is some info on M&T Bank.

Originally Posted by timlee

I would like to choose some bank(s) that is(are) good with checking and saving accounts and debit cards.


Consider common factors, for example (what I can think of and I may miss important features as I am a newbie):

1. maintainence fee for checking and saving accounts (if free with some minimum balance?)
$10 monthly for checking, waived with direct deposit. Savings account fee is waived if you also have checking.

2. easiness of money tranfer online with other banks' accounts (under the same owner, or between different owners)
I believe they charge $3 for this.

3. popularity and fees for ATMs locally (Baltimore, MD) and nationally (and world-wide) for getting cash with debit card, and/or for possibly depositing cash (which is important if local branches are not widely available)
Lots of fee-free (for account holders) ATMs around Baltimore, some in DC, VA, PA (fee-free ATMs in Wawa stores in Maryland, Sheetz in PA. I'm not aware of any deposit fees. Debit card fee (PIN transaction) is $.50.

4. popularity for local branches both locally (Baltimore, MD) and nationally (and world-wide) for depositing cash
Branches in NY, PA, DE, MD, VA, maybe NJ

5. fees for overdraft protection
$12.50 per use

6. fees for checks (issuing fee and bouncing fee)
Not sure about issuing fee, I think it's $37 per bounce
...

Thanks!

[emmiesix]

Originally Posted by oneworld25

Try and join a credit union. If you live, work, or worship in Baltimore City there are a number of credit unions you can be eligible for. You may also be eligible to join a credit union depending on your employer or if you want to a state university.

I second using a credit union. Many of them give interest even on checking (I get > 1% at Alliant CU) which you'll never see at a national bank. Also by being a member, you will have the opportunity to get much better loan deals than you would through Bank of America (which sucks, by the way -- they got caught re-ordering debit transactions in order to bounce the maximum number of items if you went over -- I know because this happened to me once when a vendor screwed up and charged my card triple). Anyway, for example, I was approved for a $12k loan for a car at only 2.3% -- that is VERY cheap money.

Alliant is a good one (they had/have the best rates that I found shopping around) -- another nice thing with them is that they have online check deposit. You just snap a picture or scan the check and it is deposited instantly (assuming it is valid). I have also found their customer service to be good and responsive.

I have also used ING direct -- one thing I like about them is that they will give you a small overage credit, so if you accidentally overcharge your account it is no big deal, they just charge some tiny interest like 25 cents (unlike BofA where it is $35 per charge on overdrafts). ING is online-only though, so you need to be ok with that.


Edited to add: For both ING and Alliant you can transfer to other institutions for no fee (if you are willing to wait a day or two), I find Alliant is faster. Also, ING has scan-at-home check deposit too, but I found it harder to use. Both ING and Alliant have partnerships with other credit unions and ATMs so you will find them all over the US (they both have a "find an ATM" search if you google for it.

[emmiesix]

Forgot to add the most important thing: Anyone can join Alliant, but most people would have to go the route of donating to a charity (it's like $10, one-time) to be eligible.

[North Beach Person]

Credit unions are ok but can be a hassle sometimes (I know banks can be, too, but just pointing out that CU's aren't necessarily a panacea).

There's Branch Bank and Trust (BBT), a regional bank based in the Carolinas. They retain their mortgages and don't sell them, the checking is free with a minimum or if you have a mortgage with them. They are one of the few banks that have youth accounts for kids.

We've been with them, or their local predecessor MD Federal S&L, for nearly 30 years.

[jvbzook]

Originally Posted by timlee

I would like to choose some bank(s) that is(are) good with checking and saving accounts and debit cards.


Consider common factors, for example (what I can think of and I may miss important features as I am a newbie):

1. maintainence fee for checking and saving accounts (if free with some minimum balance?)

2. easiness of money tranfer online with other banks' accounts (under the same owner, or between different owners)

3. popularity and fees for ATMs locally (Baltimore, MD) and nationally (and world-wide) for getting cash with debit card, and/or for possibly depositing cash (which is important if local branches are not widely available)

4. popularity for local branches both locally (Baltimore, MD) and nationally (and world-wide) for depositing cash

5. fees for overdraft protection

6. fees for checks (issuing fee and bouncing fee)

...

Thanks!

Are there any banks in the Owings Mills part of the Baltimore area with free checking?