Help Me Find a New Bank (See Ya, Wells Fargo!) (college, deposits)

[DiderotsGhost]

I'm at Wells Fargo and I hadn't heard about this. I'm a bit confused as to what it applies to. If I pay my bills with an 'online check', is that a 'transfer' that they charge for?

I really hate using a big bank. I travel a lot, so it's convenient for that purpose, but I'd rather bank with a small, community bank. They know they need your business, so they are much less likely to jerk you around.

Wachovia (IMO) used to be the more customer-friendly big banks, but all of that changed once they got taken over by WF.

[Carlingtonian]

Originally Posted by DiderotsGhost

I'm at Wells Fargo and I hadn't heard about this. I'm a bit confused as to what it applies to. If I pay my bills with an 'online check', is that a 'transfer' that they charge for?

I'd like to think they just mean transfers to non-WF accounts, but they would call those wire transfers. And I think they already charge for those. So if this is for transfers to other WF accounts, big mistake on their part. We have two accounts and routinely transfer money between them. It costs them nothing, and this convenience is very important to us. (BTW, one of the credit unions--think it was Navy Fed or NW FCU--says on its site that you can't do these kinds of transfers at their institution.)

Even more amazing is that I got this e-mail two days ago, and it says that the changes go into effect in September. And that continuing to use their online services amounts to agreement.

[farplaner]

Originally Posted by Carlingtonian

I am a DoD employee, but I normally would be stopping at an ATM somewhere in N. Arlington (usually Ballston or Westover), so I'm really wanting a bank or CU that has ATMs in one or both of those places or will reimburse me for fees incurred using someone else's.

Since you're a DoD employee, have you considered the Navy Federal Credit Union?

https://www.navyfederal.org/

Also, since you're on an Internet forum I'm assuming you're online savvy I'd also recommend ING Direct. They have one of the highest rates available. They also have lots of ATMs - pretty much any ATMs at any 7-11s. They also have free online transfers to and from other banks after you've linked them.

Online Banking - ING DIRECT USA - Save Your Money!®

[Carlingtonian]

Originally Posted by tongyang

Since you're a DoD employee, have you considered the Navy Federal Credit Union?

https://www.navyfederal.org/

Also, since you're on an Internet forum I'm assuming you're online savvy I'd also recommend ING Direct. They have one of the highest rates available. They also have lots of ATMs - pretty much any ATMs at any 7-11s. They also have free online transfers to and from other banks after you've linked them.

Online Banking - ING DIRECT USA - Save Your Money!®

Thanks. Navy Fed is on my short list! That said, their ATM locations are not convenient for us. (Neither I nor my wife would feel safe withdrawing money at a 7-11.)

Despite my very debatable online savvy, I do have an ING online account. Even though they (I just found out) do offer actual checks, they too use 7-11s as their ATMs.

[khuntrevor]

I vote for ING, but if I lived in Reston, I would go with HSBC. Both are very good for traveling. You can get Dollars in Mexico out of the HSBC ATMs.

[michgc]

We bank with Navy, and I have an account at SunTrust. I have it set up that I can electronically transfer money from Navy to Suntrust, but I don't think I can do the reverse through them. You can also transfer money to a 3rd party account who had accounts at Navy. For example, my extended family are all members. I have it set up so I can transfer money into my nephew and nieces' accounts on their birthdays, graduations, etc. It makes it easy for me since I always forget the occasion until that day. I don't use ATMs from that account, so I cannot comment on that.

[Carlingtonian]

Thanks, Khuntrevor and MichGC.

Basically, we like having two checking accounts at WF: one joint and one that's mine alone. (The missus has her own solo account elsewhere.) Makes life easier. I'll just have to ask each one if they allow this free of charge.

Oh, I also have an HSBC account for that very reason K-trevor mentioned--foreign ATMs. I think it has about $10 in it.

I definitely want a real ATM nearby that'll take deposits, and I also want a branch somewhere nearby with parking--so it may just come down to TD Bank.

I'm gonna wait till the new year, though, to make things easier come tax time.

[Carlingtonian]

Originally Posted by car54

Burke & Herbert did not have account numbers for 120some years....not until 1978. That is when they installed their first computer system...which required account numbers.

My dad (a developer) was close friends with the Burke family, so my first kiddie savings account was with B&H. I still have accounts there 50+ years later.

I still remember the letter they sent out explaining the new account numbers....it went something like "You will notice some numbers printed on the bottom of your checks. Do not be alarmed. They do not mean any thing to you and they do not mean anything to us, but the people at Safeway will not cash your checks without them."

Ever wonder why B&H's logo is a green parrot? A green parrot perched on B&H president Taylor Burke's shoulder in his office for many years. He would walk around the bank with it (I forget it's name!) to the delight of all, especially kids. What a character he was!

Wow, great story! (I somehow missed it earlier.)

[RamblingMan]

Originally Posted by car54

I'm pretty sure that USAA banking services are open to all. It's the insurance services that require membership.

Car54,

You are right. I just pulled this off USAA's website:

USAA's investment products, most checking and savings products, credit cards, life insurance, and shopping and discounts are available to other individuals.

Given that there's no membership requirement for banking, I'd bank with them just for USAA's customer service which is widely recognized as not only the best in the financial industry, but among the best in any industry.

[The Dissenter]

Originally Posted by RamblingMan

Car54,

You are right. I just pulled this off USAA's website:

USAA's investment products, most checking and savings products, credit cards, life insurance, and shopping and discounts are available to other individuals.

Given that there's no membership requirement for banking, I'd bank with them just for USAA's customer service which is widely recognized as not only the best in the financial industry, but among the best in any industry.

Another thing to think about. With all my direct deposits in the USAA account, I get the money available one day before everyone else. My company pays Friday, I can take money out and pay bills and rent Thursday. I highly recommend them.