Joint Bank Account

[lamplight2012]

Hello, all.

Me & my fiance are looking at setting up a joint bank account for bills. Here are some features we are looking for

• No monthly maintenance fee
• $0 required minimum balance
• Free online bill-pay service
• Conveniently located ATMs(I'm in Louisville, KY)

Any recommendations?

Thanks!

[Revelate]

Specifically no, but I'd go find a decent CU in your local area as virtually all the major banks have minimum balances or direct deposit requirements which might be awkward to fufill for this purpose.

[ScoreSizzle]

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@Revelate wrote:

Specifically no, but I'd go find a decent CU in your local area as virtually all the major banks have minimum balances or direct deposit requirements which might be awkward to fufill for this purpose.

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Totally agree.

I bank with two credit unions and it's the best decision I've ever made actually. No fees, no having to deposit $50 from checking to savings every month and I can pretty much go anwyhere I want when I need money without getting charged as long as there's a co-op logo (which is everywhere). 

One holds $10 in the savings and the other one holds $1 which isn't bad at all. 

[Anonymous]

Do you want a brick and mortar bank or would you be okay with an online institution? Schwab has a great no fee cash management account where every ATM in the world is free for you to use. Otherwise like the poster above me mentioned I would check out your local credit unions, many offer ATM surcharge rebats and low or no requirements. If you don't have credit unions like us here in Chicago check out smaller locally owned banks. 

[Anonymous]

also look into:

Alliant Credit Union (Soft Pull)
Fidelity Cash Management Account (Soft Pull)

*warning on Fidelity CMA, they're a 'brokerage' bank so everything takes a little bit longer compared to a regular bank.

[Anonymous]

How much do you use the ATM per month? Alliant will refund 20$ a month in ATM fees making it very convenient to use. I have been happy there, plus the interest rates are solid on checking and savings. .64 checking with direct deposit and 1 on savings last I looked. 

[QUAILMAN]

Check out Discover bank!  You can set up a savings account (.95% APY) and link it to your checking account for easy/instant funds transfers, and you get 10 cents for each check you write (online or paper checks!)

[Anonymous]

Me and my wife set up a joint account for bills with Capital One 360. We had it inactive for a few months until we officially got married, and finally started using it the past 2 months. I believe it meets all your requirements (although I am not sure about ATM locations where you live, may want to search the website). We've been using BillPay the last 2 months also, no complains with the joint account. 

[lamplight2012]

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@Anonymous wrote:

Me and my wife set up a joint account for bills with Capital One 360. We had it inactive for a few months until we officially got married, and finally started using it the past 2 months. I believe it meets all your requirements (although I am not sure about ATM locations where you live, may want to search the website). We've been using BillPay the last 2 months also, no complains with the joint account. 

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Thanks, EndersRapture.

I forgot to update, but we ended up going with Cap One 360. They have ATM's all around us.

[longtimelurker]

As others have said, it often makes much more sense to use internet banks, where you can use any ATM for free (sometimes there is no fee, other times you get the fee credited back at the end of the month)   No need to be tied to any network ATM