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Old 05-18-2010, 10:56 AM
 
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which banks would you choose?

I am looking into migrating all accounts to "online" banks and firms. I currently have Wachovia and BofA, and they just aren't cutting it. Wachovia is basically in corporate turmoil with this migration to Wells Fargo. Parts of the Bank of America website have not worked since mid-2008, and the website is constantly down. I am looking for higher quality than this.

Anyway, I am looking for recommendations on "branchless" banks, and a brokerage firm, where I can manage everything online. Cost is important, but customer service is a top priority. any ideas? what do y'all use?
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Old 05-18-2010, 11:04 AM
 
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i use fidelity investments for just about everything including bill payment and direct deposit. i keep a local bank
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Old 05-18-2010, 11:14 AM
 
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I've always been a believer in small local banks, Savings and loans and credit unions. The mantra that bigger is better isn't true. The big banks want big money and the little guy is treated like a pain the rear.

But investment wise -- I went with Charles Schwab. I had a dear friend that worked there as a VP for years until she died. And out of all the things she said about work, which wasn't much as she was pretty happy there, she never complained about the "culture" of the place.

There was never a sense of them against us in the workforce.

The first bank I worked for was run well for the first 3 years, but then the head honcho took his retirement and what came in his place were people intent on sucking all the money out of the place they could, draining it dry and leaving a shell for another bank to buy.

And that led to disillusionment of the workers. Us against them. Bad culture...
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Old 05-18-2010, 11:17 AM
 
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Originally Posted by mathjak107 View Post
i use fidelity investments for just about everything including bill payment and direct deposit. i keep a local bank

fidelity is what a friend of mine uses, and recommends. that, and ING.
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Old 05-18-2010, 11:19 AM
 
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Originally Posted by Tallysmom View Post
I've always been a believer in small local banks, Savings and loans and credit unions.

yes, but for me, customer service is about 95% based on the usability and features of the website. i'm looking for "branchless" banks, not because I don't like branches (i don't use them), but because i know that this online business model will force a firm to have a quality website.

If I have a transaction dispute with Amex, for example, I can click one button, or make a 45 second phone call. I had a the same problem with Wachovia, and I had to find a .PDF on their website, download it, print it, fill it out, fax it to them, and then wait 4 to 6 weeks for processing. Totally unacceptable, by comparison.

S&L's and credit unions around here have terrible websites. the website is the main reason i was still with Wachovia and BofA, but they went and screwed that up, too.
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Old 05-18-2010, 11:19 AM
 
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if you use fidelity you want a local bank......
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Old 05-18-2010, 11:23 AM
 
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Originally Posted by mathjak107 View Post
if you use fidelity you want a local bank......

that is what i was thinking, but i know very little about fidelity. ideally i'd have one firm, with a brokerage account, a checking account, and a top-notch website.
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Old 05-18-2010, 11:27 AM
 
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you need a place to deposit checks locally, get bank checks for various things in a pinch ,signature guarantees , etc
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Old 05-18-2010, 11:31 AM
 
1,403 posts, read 3,128,890 times
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Quote:
Originally Posted by le roi View Post
yes, but for me, customer service is about 95% based on the usability and features of the website. i'm looking for "branchless" banks, not because I don't like branches (i don't use them), but because i know that this online business model will force a firm to have a quality website.
I guess its all how to define customer service I guess.

Frankly, you aren't going to do any better than Bank of America in terms of online banking, website utility, and features.

All ISPs/websites are going to have outages. Live with it. It happens.

Quote:
Originally Posted by le roi View Post
If I have a transaction dispute with Amex, for example, I can click one button, or make a 45 second phone call. I had a the same problem with Wachovia, and I had to find a .PDF on their website, download it, print it, fill it out, fax it to them, and then wait 4 to 6 weeks for processing. Totally unacceptable, by comparison.
You are comparing apples to oranges here. AMEX isn't a bank.

Quote:
Originally Posted by le roi View Post
S&L's and credit unions around here have terrible websites. the website is the main reason i was still with Wachovia and BofA, but they went and screwed that up, too.
Yes they do have terrible websites, but the trade-off is that you can talk with a warm body if you need to.
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Old 05-18-2010, 11:44 AM
 
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Quote:
Originally Posted by le roi View Post
which banks would you choose?

I am looking into migrating all accounts to "online" banks and firms. I currently have Wachovia and BofA, and they just aren't cutting it. Wachovia is basically in corporate turmoil with this migration to Wells Fargo. Parts of the Bank of America website have not worked since mid-2008, and the website is constantly down. I am looking for higher quality than this.

Anyway, I am looking for recommendations on "branchless" banks, and a brokerage firm, where I can manage everything online. Cost is important, but customer service is a top priority. any ideas? what do y'all use?
For online bank, Ally bank.

For brokerage, Vanguard Brokerage Service (if you have more than 50k in assets)

If you want one shop, then ING direrct + Sharebuilder.
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