Orlando Area Bank

[4powells]

Originally Posted by boy3365

Free checking is no more. If you open a checking account, you have to have a minimum balance ($500?) or direct deposit to get free checking. I don't know if/when they are converting existing Wach/WF accounts to this.

Well, it's still free if you have direct deposit. I can't envision a situation in which I would want to deposit my paper paycheck every 2 weeks.

[Granny Sue]

I've got Chase. I have no problems

[boy3365]

Originally Posted by 4powells

Well, it's still free if you have direct deposit. I can't envision a situation in which I would want to deposit my paper paycheck every 2 weeks.

For me, my Wachovia/Wells Fargo checking was a secondary account that I had in since college. That is why I am dumping it.

I did see that they are piloting a monthly fee for debit card usage. It doesn't look like Orlando is one of their markets for that yet.

[Ken1706]

You should consider Orlando area community banks or credit unions. Fewer fees, and you're supporting local businesses.

Some of them offer free high-yield checking accounts with free bill pay and free ATMs. Old Florida National Bank is one. It's paying 3.04% apy. Here's a review of this account and other similar Florida checking accounts.

[TedTLPN]

Originally Posted by 4powells

I need a good recommendation for a Bank. I'd prefer brick and mortar (not Ally) and anyone but Bank of America. I do online bill pay so they need to offer that at a reasonable rate if not free. What's the predominant bank down there? The kind that has branches in the front of megamarts?

Just curious to know why Ally isn't a good choice in your opinion? If anyone else has experience I'm interested to know too!!

I have Suntrust and I LIKE them, but I certainly don't love them.

I have mixed emotions about the Ally commercials. Using and (arguably abusing) children to make a point doesn't seem nice, but then again, the kids ARE actors and I am sure are treated very well. The points they are making in their commercials are spot on.

From the research I have done, all ATM fees are reimbursed at the end of the month no matter which one you use, so the idea that ANY bank is my bank is appealing.

I look forward to everyone's response's!!

[Ken1706]

I have the Ally Bank checking account and savings account, and I've been very happy with them.

In addition to reimbursing ATM surcharges from other banks, they offer free paper checks.

One potential issue is if you need to deposit checks. They do provide postage paid envelopes, but that's slow and a hassle. However, they are slowly rolling out remote deposit capture, that will allow you to scan checks with your PC and deposit the checks online without having to worry about the mail. There's a good review of this service here.

If you need to deposit cash or if you want to handle issues with a person face-to-face, you'll need a local bank or credit union. Another option is to just have two accounts: one at an internet bank like Ally and the other at a local community bank or credit union. Ally makes it easy to move money online to and from your local bank.

Internet banks like Ally also offer the best interest rates except for community banks like Old Florida National Bank which offer high-interest reward checking accounts.