topic Re: Checking Account Options? in Personal Finance

Checking Account Options?

prabs99 — Sun, 20 Jul 2014 17:34:54 GMT

My bank is going to get rid of their free checking account. My paychecks are deposited automatically. It does not have to be a local branch, but free ATM withdrawals would be nice. Anyone know of any good choices?

Re: Checking Account Options?

mongstradamus — Sun, 20 Jul 2014 18:43:47 GMT

@prabs99 wrote:
My bank is going to get rid of their free checking account. My paychecks are deposited automatically. It does not have to be a local branch, but free ATM withdrawals would be nice. Anyone know of any good choices?

Most credit unions have that option i believe with no min balance. The other option are brokerage houses or online banks. Fidelity and Charles Schwab both have that option. Online banks like ally also have that option, which also gains interest.

I presently use ally for my savings and alliant credit union for my checking. If you do some kind of direct deposit with alliant they give you .64% interest which isn't bad ,since brick and mortar banks rarely top .05% for their savings accounts let alone checking!!

Re: Checking Account Options?

TheFate — Sun, 20 Jul 2014 18:47:00 GMT

I second a Credit Union or even Capital One 360

Re: Checking Account Options?

Anonymous — Sun, 20 Jul 2014 19:13:17 GMT

think of banks that are giants

1) JP Morgan Chase

2) Bank of America

3) Wells Fargo

why bank with them? then ask yourself how would

a) Fidelity Money Mkt

b) Schwab MM

c) Ameritrade

do it differently.

Then comes the regional banks

Capital One

BBVA Compass Bank

If all that matters to you is

Service

Timely Deposits
Fraud Alerts

than any bank will do. If you want more than just checking acct and a real banking relationship where loans/brokerage/many other accounts will be opened its quite different.

Me personally it matters

Have 3 checking accounts; Never more than one account at the same bank. (learned it the hard way).

There be no minimum balance

There be rewards associated with opening checking account (bonus)

ATM charges be free/Unrestricted. No charges for replacing lost/Stolen ATM/Debit Card; HaveMasterCard/Visa Logo on ATM card.

Every six months or so, one NSF fee is waived

The order in which payments are processed be appropriate for me so there aren't multiple NSF's.

I would test the bank's validation by actually doing that one time.

Re: Checking Account Options?

prabs99 — Sun, 20 Jul 2014 19:10:05 GMT

I have an existing relationship with NFCU & Chase besides my current bank. I will check out Ally. Anyone use DCU?

Re: Checking Account Options?

Anonymous — Sun, 20 Jul 2014 19:21:43 GMT

@prabs99 wrote:
I have an existing relationship with NFCU & Chase besides my current bank. I will check out Ally. Anyone use DCU?

I do but if you bank with NFCU and Chase, I'm surprised they do not offer free checking with DD

Re: Checking Account Options?

prabs99 — Sun, 20 Jul 2014 19:27:11 GMT

Thanks Lexie, but I just have a savings account with both NFCU & Chase. I have not used their checking products.

Re: Checking Account Options?

TheFate — Sun, 20 Jul 2014 22:45:36 GMT

@Anonymous wrote:
think of banks that are giants
1) JP Morgan Chase
2) Bank of America
3) Wells Fargo

why bank with them? then ask yourself how would

a) Fidelity Money Mkt
b) Schwab MM
c) Ameritrade

do it differently.

Then comes the regional banks
Capital One
BBVA Compass Bank
If all that matters to you is
Service
Timely Deposits
Fraud Alerts

than any bank will do. If you want more than just checking acct and a real banking relationship where loans/brokerage/many other accounts will be opened its quite different.

Me personally it matters
Have 3 checking accounts; Never more than one account at the same bank. (learned it the hard way).
There be no minimum balance
There be rewards associated with opening checking account (bonus)
ATM charges be free/Unrestricted. No charges for replacing lost/Stolen ATM/Debit Card; HaveMasterCard/Visa Logo on ATM card.
Every six months or so, one NSF fee is waived
The order in which payments are processed be appropriate for me so there aren't multiple NSF's.
I would test the bank's validation by actually doing that one time.

Why 3 checking accounts?

Re: Checking Account Options?

Anonymous — Mon, 21 Jul 2014 01:45:48 GMT

Myself Wife and Joint three different banks.

Re: Checking Account Options?

Anonymous — Mon, 21 Jul 2014 16:17:38 GMT

all this time i thought my wife was on ChexSystems, i disputed with the credit Unioin i was on and they sent me a letter stating the explanation.

Then, they decided not to send any information to ChexSystems, meaning the dispute remains UNRESOLVED , which in turn also means it is DELETED.

so then, I get a letter from ChexSystems stating unless Credit Union decides to verify the dispute its remains off the ChexSystems. I have a chase derogatory on EWS back from October 2008 which will be off in Oct 2015.

I am so glad i finally applied for a checking/savings account with SDFCU; was approved for savings/Checking account. they check Experian/ChexSystems.

want to get three bank accounts opened just in case the Credit Union decides to reverse its decision.So cant open chase but maybe DCU for EQ reports.

Re: Checking Account Options?

Anonymous — Sun, 09 Nov 2014 17:21:48 GMT

TheFate wrote:
I second a Credit Union or even Capital One 360

Cap 1 just popped on my radar for finding a new checking/savings acct, will have to compare them to a few others.

Re: Checking Account Options?

mongstradamus — Mon, 10 Nov 2014 19:08:24 GMT

@Anonymous wrote:
@TheFate wrote:
I second a Credit Union or even Capital One 360
Cap 1 just popped on my radar for finding a new checking/savings acct, will have to compare them to a few others.

If you dont mind online only banks ally could be another option they have pretty nice rates.

Re: Checking Account Options?

1GaDawg85 — Mon, 10 Nov 2014 20:40:29 GMT

Capital One 360, Ally, or any local credit union

Re: Checking Account Options?

Tazman81 — Tue, 11 Nov 2014 01:05:33 GMT

@prabs99 wrote:
I have an existing relationship with NFCU & Chase besides my current bank. I will check out Ally. Anyone use DCU?

Bank with NFCU.. you can get a free checking account and ATM rebates if they do not have any free ATMs in your area. Also their free account earns a little interest, and they have other great savings products like their 3% easy start CD (which during customer appreciation month was actually a 5% easy start CD). You will have bill pay and mobile deposits using an app on your phone if you ever need to deposit a check.