Re: thinking about switching to an online bank.
01-24-2013 09:59 AM
We have accounts with a local CU, USAA and ING. Of the three, USAA is my favorite.
You can make a deposit of a check at a convenient UPS store, it is instantaneous, free and the funds are usually available immediately.
We transfer money from the local CU and even though it takes a few days to disappear from that account, we get immediate availability at USAA
No fees for ANY atm, they refund any fees that a foreign atm charges.
The iPhone, iPad aps are pretty sweet. On one screen I have every balance to every credit product, deposit product, investment product, IRA, Pension at all 15 different places we have or owe money. With a drill down capability that logs into the detail of those accounts.
All of this without full membership.
If you can get full membership, we were able to save 50% on our homeowners insurance and they have products for vehicles that aren't being driven. So I can fully insure a car we're saving for my son for $50/year. If I want to drive it one weekend, I can just pick up insurance for that weekend.
Don't have any credit products yet, but that will hopefully change shortly.
ING takes an extra day, just to transfer money between ING Bank and ING Brokerage which is ridiculous. USAA is instantaneous.
We have the local CU, because a branch is located in the building with my wife's office. We started with them several years ago when we made the switch from commercial banks to credit unions.
Even though I was a VP of a commercial bank, it is highly unlikely we'll ever deal with a local commercial bank again.