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I've read on a few websites you should open a local bank account when you get to New York. I've got a Bank of America account already, so do I need to open a different account?
no, Bank of America has branches all over the city. Why would you need anything more local? It's true that some places don't like to see out-of-state checks, so if you plan to stay here awhile, just update B of A with your new NY address, order some checks and that's it.
If you are looking for a "local" bank - that would not be BoA. Bank of America was one of the front runners of the now famous Hank Paulson/Geroge Bush Bailout that has robbed not just our American tax payers of billions of dollars, but has caused the economic slide for the world. Local banks are community owned banks. Cooperative banks and credit unions also return our money to the community and are considered to be local. BoA feeds international corporate greed and encourages more rip-off mortgages and hugely wasteful bonuses to greedy CEOS. We can start by closing our accounts at BoA and putting our money in a "local" bank. Then we need to correct the lack of regulation in banking, meaning get the Republicans out of Congress and replace them with sensible Democrats who support financial regulation. There are plenty of "Blue Dog" Dems, tho, so looking at their voting records and general back ground is part of that. This is how we will return economic justice to America.
You don't "need" to open another account, but with BoA being, really, such a scummy example of a corporation, wouldn't you rather try someplace else?
Consider a savings bank like Apple, or a credit union. Supposedly half a million people left their scummy commercial banks on Bank Transfer Day. Wasn't it BoA that just caused that uproar with their new fees? Leave 'em.
We switched states with BofA and inquired about any good reason to switch accounts. We were told that there is a FEE to switch and no real advantages. So we did nothing except an address change.
We DID however close the NJ located safety deposit box...no point in needing the PATH and a tedious trip to get a passport or a bankbook... or the Hope Diamond.
If you are looking for a "local" bank - that would not be BoA. Bank of America was one of the front runners of the now famous Hank Paulson/Geroge Bush Bailout that has robbed not just our American tax payers of billions of dollars, but has caused the economic slide for the world. Local banks are community owned banks. Cooperative banks and credit unions also return our money to the community and are considered to be local. BoA feeds international corporate greed and encourages more rip-off mortgages and hugely wasteful bonuses to greedy CEOS. We can start by closing our accounts at BoA and putting our money in a "local" bank. Then we need to correct the lack of regulation in banking, meaning get the Republicans out of Congress and replace them with sensible Democrats who support financial regulation. There are plenty of "Blue Dog" Dems, tho, so looking at their voting records and general back ground is part of that. This is how we will return economic justice to America.
LOL I was nodding my head UNTIL you started saying we need to remove the Republicans...look I voted for Obama but when looking at campaign contributions McCain and Obama had similar interests backing them..the whole system is rigged IMO..
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Either way, I am a person who has lived in about 5 different states in the past three years while attending college (just graduated thanks ) and i'll tell you this, it is definitely a benefit to having money in a local bank. I currently use BoA myself but have used Wells Fargo.
It starts to get iffy when you are proving residence, trust worthiness etc etc. It just helps your own business along if you have ties to a local bank. I think even if you open a new bank of america account in NY it would help honestly..
I had a Chase account in Manhattan, and when I moved from Manhattan to Brooklyn, I went into the local Chase branch and said I wanted to make them my branch. So what they did was close out the account and opened a brand new one. I had to re-do all my automatic payments with the new account number, and so on.
I had Bank of America for many years, I got fed up with all the monthly fees.
Three months ago switched over Teachers Federal Credit Union here in New York, so far no fees...
I was FIRST JERSEY who got bought up by NATIONAL WESTMINSTER who got bought up by SUMMIT who got bought up by FLEET who got bought up by BANK OF AMERICA.
In all those bank renaming I nave never been charged s single PENNY in fees (except to rent a safety deposit box.) And my accounts include Saving, Checking, CD's, Overdraft Checking, Credit Cards, Debit accounts, and Money Market accounts.
What FEES do you pay? (Perhaps once they said they were going to charge for something and I called and basically said "NO, you are NOT" and they agreed. I pay no fees.
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) and i'll tell you this, it is definitely a benefit to having money in a local bank. I currently use BoA myself but have used Wells Fargo. 
