Banking question (Boston, Newton, Washington: apartment, lease, credit)

[ME Hokie 07]

Sorry for another off-the-wall question but I need to get a new bank because Wachovia does not have branches in Mass. Does anyone have any recommendations for a bank to go with that I might not be familiar with? If I had to choose now I'd go with Bank of America only because I've heard of them and know they are in the area. I'm not looking for anything special, just checking and savings for little to no additional fees. Thanks.

[CaseyB]

Well, BOA is the largest, but there's also Citizens, BankNorth, Sovereign, etc. Call around and see who will give you the best deal. Some large employers have relationships with banks so you can get a better deal that way.

[smarty]

BofA has the largest ATM network. However, they also charge the highest fees. As long as you have high balance, BofA is fine. Lower fees institutions are usually local Credit Union or the other banks CaseyB mentioned.

[ME Hokie 07]

Thank you both

[Hatless Wonder]

Bank of America is evil. They will nickle and dime (more like $5 and $10) you to death.

If you're near Boston, check out Wainwright Bank. Free checking, free savings, free SUM ATMs, free online banking (with bill pay).

Citizen's is okay. The biggest benefit is branches at Stop and Shop.

[maggiekate]

Originally Posted by ME Hokie 07

Sorry for another off-the-wall question but I need to get a new bank because Wachovia does not have branches in Mass. Does anyone have any recommendations for a bank to go with that I might not be familiar with? If I had to choose now I'd go with Bank of America only because I've heard of them and know they are in the area. I'm not looking for anything special, just checking and savings for little to no additional fees. Thanks.

when I lived in MA I had citizens, check out the state street bank also. depending where you will be and work you also could check out credit unions. with banking you can do most business on the telephone, internet and mail. I still left saving in my MA bank. anyway state street is real nice. what I did was join a credit union and just open a small acct with a local bank, so i could cash a check etc.,
credit unions give you the best rates etc.

[Parsec]

You're a Hokie, so you're probably web-savvy enough to use Washington Mutual. Their savings account rate (around 5%) is much higher than any of the banks listed here, plus they have free checking w/free ATM reimbursements (so you can use any ATM you want). The thing is, it's an online account which I know a lot of the older folks aren't comfortable with, but for you it might just be the thing you're looking for.

[ME Hokie 07]

Originally Posted by Parsec

You're a Hokie, so you're probably web-savvy enough to use Washington Mutual. Their savings account rate (around 5%) is much higher than any of the banks listed here, plus they have free checking w/free ATM reimbursements (so you can use any ATM you want). The thing is, it's an online account which I know a lot of the older folks aren't comfortable with, but for you it might just be the thing you're looking for.

haha thanks. A friend had recommended this to me awhile back and I completely forgot about it but after looking over the website again I think I'm going to open an account there in the near future. The only question I have is concerning fees on ATM withdrawals: I called and asked on the phone and the guy basically said that banks will charge a fee to use their ATM and the only ones without a fee at all would be WaMu ATMs. I guess it's probably still better if you mostly just use credit but if you used cash you'd have to be more careful. Thanks for the advice though.

P.S. I actually just signed for a lease on an apartment in Newton so I hope the area is as nice as it looks.

[Parsec]

Originally Posted by ME Hokie 07

haha thanks. A friend had recommended this to me awhile back and I completely forgot about it but after looking over the website again I think I'm going to open an account there in the near future. The only question I have is concerning fees on ATM withdrawals: I called and asked on the phone and the guy basically said that banks will charge a fee to use their ATM and the only ones without a fee at all would be WaMu ATMs. I guess it's probably still better if you mostly just use credit but if you used cash you'd have to be more careful. Thanks for the advice though.

P.S. I actually just signed for a lease on an apartment in Newton so I hope the area is as nice as it looks.

That's weird ... I wonder if we're talking about different types of checking accounts cuz their website still advertises free worldwide ATM withdrawals (only cash withdrawals ... not operator fees such as account inquiries). If you have any questions about Newton, feel free to PM me. I'm a Yellowjacket btw, but I suppose I'd be happy to find a fellow Southerner up here even if he was a Bulldog!

[turk1will]

Stay Away from BOA. They will steal your money. Newton is TERIFF.