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I'm never charged when using a First Citizens ATM, I'm an account holder there. I don't what 25cent charge you are talking about. There are many accounts, my sons have FCB's Free Checking accounts and they are not charged any fees for anything, for the last 2yrs.
Wachovia and RBC Centura are on the FDIC watchlist. I would be very careful putting money in either of those. Even tho FDIC guarantees you up to 100k, there is no specific time frame listed in their paperwork that nails down when you will get your 100k back. Its written with a lot of gray in the policy.
As far as deposit holds, thats not an arbitrary thing, its a fed regulation, Reg CC. It allows the bank to decide IF they want to place a hold, the length of hold is decided by Reg CC. Reg CC also protects those depositing checks, if you spend all the money and the check is bad...you have to pay it back. If you understand the hold policy, it shouldn't be a problem for anyone.
Though people have had mixed feelings, Bank of America has been surprisingly good to us. Though I have introduced myself with the banking manager and call him on a first name basis, the services we've been getting have been terrific and free. Of course, having our home loan with them does offer certain perks.
Wow, I had no idea some banks were taking debits out of accounts before credits. I would be tempted to switch banks if that wasn't the policy when I opened the account.
I was pretty happy with SunTrust until I called their tollfree number and got a rep in Mexico. This is a pet peeve of mine. I want to talk to someone in America, who I can call back if need be. I always get their name and number.
Plus, if anyone with SunTrust is doing online transfers, you may be interested to know this. I found out that even though I was told by my branch that online transfers are immediate, instantly put into the account transferred to, that is false. There is a cut-off time of 10 p.m. ET. I made a pretty large transfer at 11 p.m. once that didn't go through till the next day. I would have been totally screwed up without overdraft protection. They'll rob ya blind of you let them! And sometimes even when you don't.
Wachovia and RBC Centura are on the FDIC watchlist. I would be very careful putting money in either of those. Even tho FDIC guarantees you up to 100k, there is no specific time frame listed in their paperwork that nails down when you will get your 100k back. Its written with a lot of gray in the policy.
You get your insured money immediately just as though nothing ever happened. It's the uninsured portion that is the unknown.
Truly, the only reason to check on the health of a bank is if you are investing in bank stocks or if you plan on keeping more than the FDIC insured limit at that bank.
I'm never charged when using a First Citizens ATM, I'm an account holder there. I don't what 25cent charge you are talking about. There are many accounts, my sons have FCB's Free Checking accounts and they are not charged any fees for anything, for the last 2yrs.
Wachovia and RBC Centura are on the FDIC watchlist. I would be very careful putting money in either of those. Even tho FDIC guarantees you up to 100k, there is no specific time frame listed in their paperwork that nails down when you will get your 100k back. Its written with a lot of gray in the policy.
As far as deposit holds, thats not an arbitrary thing, its a fed regulation, Reg CC. It allows the bank to decide IF they want to place a hold, the length of hold is decided by Reg CC. Reg CC also protects those depositing checks, if you spend all the money and the check is bad...you have to pay it back. If you understand the hold policy, it shouldn't be a problem for anyone.
This was a few years back. Apparently, the fee was later dropped. My daughter had a basic college student account which probably had fewer benefits than your account.
Wachovia and RBC Centura are on the FDIC watchlist. I would be very careful putting money in either of those. Even tho FDIC guarantees you up to 100k, there is no specific time frame listed in their paperwork that nails down when you will get your 100k back. Its written with a lot of gray in the policy.......
Unless you're working for the FDIC and have breached your own code of conduct (for which you'd be fired) there's no way to know which institution is being monitored. Here's a disclaimer right from the FED
Problem Banks
The FDIC creates reports on problem or troubled banks in the aggregate. We do not make the details of this list publicly available. The FDIC does not, at any time, comment on open financial institutions.
As for the comment about insured money, that's completely untrue. There have been a number of institutions that have been closed this year and in every single case depositors had continued access to their funds without exception in accordance with FDIC regulations.
It's interesting; in 1929 the financial world crumbled because of panic fueled by originally baseless fear and overinflated investments. While we certainly have been presented with the overinflated investment scenario again (not the first time since 1929 either) you'd think society would manage the fear and panic aspect better. But now we have the Internet and forums such as these and it's so much easier for inaccuracies and innuendo to make the rounds.
Your FDIC funds are safe up to the $100k limit. All banks are monitored by the FDIC (and the OCC and the OTS and the...... you get the idea). For the vast majority of us I doubt we have anything to worry about. For those that have more than $100k in your regular bank accounts, turn of the PC and go out and spend some of it to help the economy.
I would suggest you do what I did. I looked at the maps of branch locations for three or four recommended banks and picked the one that was the most convenient for our family. The bank I picked has a branch near our house, near our kids school, and branches in grocery stores that we will be shopping at. That made it a no-brainer to me. We picked SunTrust primarily for that reason alone.
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