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I am currently a member of USAA / NFCU / Penfed and Chase. My business accounts are with Chase and will stay with them but my personal I would like to switch starting January 1st. I was dead set on NFCU but now im considering USAA. Which would you choose and why??
@darkfrosty wrote:I am currently a member of USAA / NFCU / Penfed and Chase. My business accounts are with Chase and will stay with them but my personal I would like to switch starting January 1st. I was dead set on NFCU but now im considering USAA. Which would you choose and why??
I belong to DCU, PENFED & NFCU.
My favorite is NFCU. Because of their generosity. I gave them 10k in my checking and 10k in my savings.
DCU is my second favorite. I keep 1k in money market, a 10k 5 year CD and keep a few hundred in savings but I use them for my everyday checking and direct deposit only because they have a branch the next town over. Also have a DCU credit card at the lowest rate as well as an auto loan at lowest rate.
Penfed is third on my list. I keep $500 in checking and $500 in savings.
I use DCU for checking, ATM reimbursements, and direct deposits crediting a day early. There's also branches about 30 minutes away if I need to go into brick and mortar for some reason. I also keep 500 in savings to get their good interest rates for the first 500, but then divert excess to other banks with better interest rates.
I use Chase because I've never once paid a random ass fee there, I can find a branch when I need it (like today's passport expedition: 3 post offices flatly don't offer it anymore, and the one I found which still does it doesn't take credit cards even though it said it did on the website... this whole experience was awkward, **bleep** it USPS and State Department both, update your websites jeezus) to get cash since I've used a debit card exactly once in 5 years and I don't carry it with me. Without that the kinda fustruating day would've ended on a sour note whereas now /shrug, holiday traffic and my fault for interviewing in December I guess and taking an international travel gig instead of buying a fancy car for a mid-life crisis.
They've also treated me absolutely righteously on both their credit card products and their mortgage origination... I can't complain when they've done everything right by me and nothing wrong, though I may be about to go push the boundaries of the relationship. Likewise even if I did someday move my personal accounts (which I have no reason to) I will likely never move my business checking unless they do something really unethical in my book. I know rationally that I shouldn't make it personal because Chase assuredly is not, but I actually like them. Stupid emotions.
I used DCU a while back when I lived in a Boston suburb and had absolutely no qualms with them. I still do non-trivial stuff with them now and they've still been fine; looked at coldly though, leaving my deposits at Chase does more for me relationship wise than it does if I were with DCU whom I get everything I want from anyway I suspect between my 16 year membership and my above the line FICO score.
USAA: Claim to fame financially is you can ACH money in, or out, with absolutely zero fees: if not for Chase or if I had more complicated needs for shoving money to various places I'd stop with the 2 step and just use this as the routing engine for my financial life. I'm sure there are others but I haven't found anyone who can do this on the limited amount of cash I leave laying around my checking accounts usually... if I went into Chase Private Client (which I might, not as enthused as I once was about self-directing investing all my assets) I think I'd get most if not all of the transfer fees removed from my Chase accounts (and that's true with many other banks too actually) but USAA giving it for free in my experience, simply golden.
@iced wrote:I use DCU for checking, ATM reimbursements, and direct deposits crediting a day early. There's also branches about 30 minutes away if I need to go into brick and mortar for some reason. I also keep 500 in savings to get their good interest rates for the first 500, but then divert excess to other banks with better interest rates.
It's currently 5.12% on the first $750. I'm not sure when it changed.
Good thread OP! Thanks for starting it.
USAA will be my primary checking soon once the limitless card available to all states. They even reimburised ATM fee for a certain amount without requirement compare to DCU it does
BofA has been my primary bank since I went to college. Despite the experiences of some other people, I've had no problems with day to day stuff (I did have a problem getting my credit card with them converted to a chip card when they first started offering them, but ultimately got that resolved).
For my side business, I have a Chase account. It was originally opened at WaMu before the financial crisis since they had completely free accounts, and as far as I can tell it's still free. I'm not sure what'd happen if I were to open a brand new account today.
I also have Charles Schwab/Capital One 360/UNFCU, the first one for traveling and the others so that I could have "true" chip and PIN cards. On that note, UNFCU will reimburse up to $10 in ATM fees starting next month.
I would never switch my credit products away from chase .. USAA / NFCU etc dont have crtedit products that do anything for me. I would mainly switch my stuff over there for personal banking and keeping my business products at chase. USAA is good because you get your direct deposit apparently a day early but their mobile app is kind of disappointing. I really like NFCU's mobile app.