Looking for a new bank in Maine (Bangor, Norway: builders, charges)

[sjlcu]

It does take 3 days for transfers back to your original bank BUT that's why they now offer the Debit card and oodles of places to get your money for free at ATMS. You don't have to have a CD. You can have a savings account which is linked to your brick and mortar bank account for transfers. Having the ING checking account has simplified my banking a bunch! I've also tried HSBC and Emigrant but have been much more pleased with ING overall including top notch customer service.

HTH~

Stacie

[Elcarim]

Does ING offer a debit card on savings accts now? I haven't even thought to check in a while. I did ask about it once before, and they didn't.

[treeluvr]

Originally Posted by Elcarim

Does ING offer a debit card on savings accts now? I haven't even thought to check in a while. I did ask about it once before, and they didn't.

Not sure about the savings. Expect my accounts to be rolled over into a savings account next month. (ING DIRECT still new to me.) But the electric orange checking account issues a Mastercard/debit card.

[danpv]

Though I embrace new technology, I don't trust it enough to relegate all my banking needs to the internet. IMO it's nice to have a local brick and mortar for a bit of face-to-face should the need arise.

With the economy on the skids, I am concerned about financial health of my next Maine bank. After a bit of research, I came across a rating of some banks, S&Ls and CUs that may be of interest particularly to those of you relocating to Maine: http://tinyurl.com/g5vcz

The following all received the highest five star rating:

Androscoggin Savings Bank: Lewiston
Aroostook County Federal Savings and Loan: Caribou
Bar Harbor Savings and Loan
Bath Savings Institution
Biddeford Savings Bank
First Federal Savings and Loan of Bath
Kennebec Savings Bank: Augusta
Norway Savings Bank
Saco & Biddeford Savings Institution
Sanford Institution for Savings

Only one institution received their lowest rating of two stars: Rivergreen Bank in Kennebunk.

Of course ratings are not the entire story, but should help in decision making. Enjoy and good luck.

[lbcherokee]

We have 2 ING savings accts & a CD. A transfer from ING to my local bank takes 2-3 days but it's my understanding it's the fault of my bank - not ING. They are very slow w/transfers both into & out of my acct. Other transfer into the bank also take longer than I think they should. The only reason I haven't opened an ING ck acct is that the bank I have now has ATMs everywhere. Will be moving to ME next yr & also looking for a local bank in Portland.

[forest beekeeper]

Moving here, I opened an account with a local CU. Everytime that we have moved it has always been a big deal to establish a local residency and to get local checks.

Penobscot county CU in Old Town, opened my account and took deposit of a large sum of mine. I went back a week after to see about getting checks, but they could not get their computer to register that my account was open. They could 'see' my balance, but my account was not yet 'opened'.

So I went back after two weeks, and they had me sign another signature card, saying that I needed to re-submit it before they could open my account and give me access to my checking account.

So I went back in on the third week, and they had me sign another signature card.

So I went back in on the forth week, and they apologized and had me sign another signature card.

And again on the fifth week.

And again on the sixth week. So at that time, I was very frustrated with those boneheads. I decided to give up and withdraw my money from their CU. The teller said: "You will have to wait a week for the money to clear". I threatened to call the police and file grand larceny charges against them for holding my money for six weeks and refusing to "Give me my money".

I stood in their lobby Chanting: "Give me my money",
"You have my money, give me my money".
"Does anyone else have money on deposit here?, since they refuse to gave me my money, how do you know that they will give you your money?",
"Give me my money".

I was furious with those bone heads.

Their manager spoke with me, she said: "well we should have been able to figure this out, we would have been to figure it out if you could only give us another week, We could be able to figure this out with only another week"

I told her: "Should a? would a? could a? You have held my money for six weeks, I have been here every week, for six weeks? Look should a would a could a lady, how many weeks does it take to open an account?"

"You will give me my money, or I will file grand larceny against you"

Eventually as I was chasing other customer out of their little lobby, they relented and agreed to give me my money. Then the teller said that she would have to charge me a fee, for withdrawing my money.

I went back to my chant, I blocked their front door, not letting any other customers in. Finally they agreed to give me my money without charging me a fee.

Penobscot Credit Union left a lasting impression in my mind.

Whenever I see "Should a would a could a" lady in town, I make a point of calling her that and asking her how many months it takes to open an account. If she says any thing less then two months I point out that such has not been my experience and she knows it.

[Petertherock]

Well, I just made the switch from TD Banknorth to the credit union we have at work. It's not that I was unhappy with TD but the credit union saved me 3% on my car loan interest rate and that is huge. The CU offers me the online account and online bill pay just like the banks have.

[forest beekeeper]

We still use our checking account with Navy Fed CU, we have had that account since the 80's.

We also have an account at Key bank just because they are located inside Hannafords Grocery. Otherwise I have never stepped inside a Key bank building.

[Unhappycamper]

I say Midcoast Federal Credit Union only because they have awesome commercials.

That song is so catchy!

[Acadianlion]

We use USAA Federal Savings Bank in San Antonio for all of our domestic banking, including mortgage, savings, checking, credit cards and auto loans when we have them. This is a bank that does business with military officers and federal employees of officer rank, and their service and products is second to none. I do have a Maine bank for my business, but that is changing as that bank is getting ready to be bought out and the service and quality of relationships is dropping rapidly. I will probably change my business accounts to Bangor Savings Bank because I have gotten to know a branch manager in branch that my parents accounts are with. Since I handle all of their accounts now, I have needed her help on several occasions and she has been superb while also seeming to know exactly what is going on in her bank, with their systems and policies. She is also young enough so that I expect that she will be there as long as I need a local bank.

My experience is that the banks that have grown around offering service to military families seem to have it all pretty well figured out. The fact that I have a bank in San Antonio is no limitation. When I need cash, I use a cash card at any ATM, and the bank pays the ATM fees; when I have a check to deposit, I use my computer, scan the check in, and deposit it from home. The transfer is instantaneous and the money is available immediately.

Banking in Maine is slow and behind the times technologically, probably because the cost of new electronic systems is so high, they simply cannot afford it. Besides, since there isn't much real competition in state for banking business, they don't NEED to change very much. The on line banking business is changing all of this, and will continue to do so. Bangor Savings Bank is growing having just acquired the Pepperill Trust in western Maine, and Union Trust of Ellsworth is being acquired by Camden National Bank, and then will become one of the largest banks in Maine. Machias Savings Bank will merge with or be acquired by a larger player in the next two to three years, I am willing to bet, and aside from the smaller regional banks, there will be few large banks left that are not owned "out of town" or out of state. The days when you can visit a friendly branch with smiling faces are largely done: bricks and mortar cost money, and banks are good at getting the money from their customers.