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Your Preferred Checking and Savings

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Your Preferred Checking and Savings

I currently use USAA for checking and Marcus for savings, but have been shopping around a bit and am open to suggestions

 

What bank/credit union do you use for checking and/or savings? Why did you choose them?

Message 1 of 20
19 REPLIES 19
Frequent Contributor

Re: Your Preferred Checking and Savings

I use Chase and Citi. Chase is where my spending money goes to and my car payment. Work only lets me have two checking accounts with DD so I have to take that car payment to another credit union which I would love to get away from because I personally don't like the idea of how small CUs are. Plan on refinancing my car to Chase when my AAoA increases and less inq. Citi gets my debt payoff cash and my savings since the APR is higher than Chase. I really wish I could do one bank but Chase doesn't have a lot of offerings like PLOC, high APR, or money markets.


New Accounts: 13/6 15/12 16/24 oops
I think I got all I want...

Message 2 of 20
Frequent Contributor

Re: Your Preferred Checking and Savings

Forgot to add:

I chose both of these accounts for relationship reasons. I really like my Citi cards and wish to get the two TYP cards I'm missing. Got Chase because they are the biggest bank in the US and I really want a sapphire some point in my life.


New Accounts: 13/6 15/12 16/24 oops
I think I got all I want...

Message 3 of 20
Established Contributor

Re: Your Preferred Checking and Savings

For savings I currently use Wealthfront. When I signed up they had the highest APY out there but now it’s only 2.02%. I stay with them because I love their app, it’s super easy to use and customer service has been great. For checking, I really can’t recommend Schwab Investor Checking enough. You have to open a brokerage account but it’s free, so are all trades as of today and everyone should invest in a few ETFs. The Schwab checking has 100% refund of all ATM fees every month so I never worry about them anymore. You can desposit checks with the app, even ones you write to yourself. They send you a box of checks and deposit envelopes for free when you sign up. Finally, the card just looks cool. I have other checking accounts for sign up bonus or to have relationships with the bank so they’ll give me credit cards but my one love is my Schwab account. Vio bank looks like they have the highest APR at 2.42% but that can literally change every day. 


AU




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Message 4 of 20
Valued Contributor

Re: Your Preferred Checking and Savings

I have money stashed in several CUs just to maintain membership (NCSECU, NFCU, and SDFCU).     I have savings stashed in a few high yield savings accounts and CDs (CD ladder), because that makes sense to me for liquid assets.   I also have odd savings here and there, like a Disco savings account that I transfer my cash back into, things like that.   My durable power of attorney doc is hilarious with the number of accounts listed.

 

I have Cap1-360 checking and savings that I irregularly use.   I originally got ING Direct for savings.   When Cap1 took over, I noticed their debit had no FTF, so I kept them since I would frequently travel out of the country.
They've been easy to use, I keep ~250 in that checking and use it to link to sites like Paypal to reduce risk.  (No overdraft).  In fact, I took my Cap1 ATM card out of the safe last night because I'm going to Canada, and I try to keep an ATM card on hand whenever I travel in case I need emergency cash.   I also use this account when people need to pay me by Zelle or some other way (my main CU doesn't take zelle).    The app is easy to use as well.


My 'daily'/main is Allegacy FCU which is a small local CU here.   I prefer to bank with smaller banks/CUs for a bunch of reasons (some of them 5 things), and when I moved to the area, I asked around and locals said that Allegacy had the best checking/customer service.  In addition, they're rates are great, they're easy to work with and I just like them.   Of course, there are other local perks as well, like discounted tickets to local attractions and stuff, which is always nice when people are in town and want to do touristy things.   Their app is excellent and website is easy to use, and they are part of the Co-Op network, so I can use their ATMs with my NFCU or SDFCU cards.   They send anniversary "gifts," too, which I find adorable (I mean, things like a vinyl sticker of their logo, which is essentially advertising for them, but I thought it was cute).

 

My workplace lets me DD into (up to) 99 different accounts, so once I got my various DDs set up, I didn't have to worry about shuffling money around.

03 Oct 2019


Garden goal: keep on keepin' on
Usually a faithful practitioner of AZE5or6or7; working on AZE1or2 and grumbling about it.
Message 5 of 20

Re: Your Preferred Checking and Savings

American Express HYS @ 1.90% right now but not interested in moving funds to a different HYS with a higher rate becasue rates fluctuate. We current have 3 account (individual savings and 1 joint savings) 

Checking account BOA (we only have the one) it's a joint checking.

I have a checking through Consumer Bank (Bankmobile Vibe) because that was the only way to get my Financial Aid refund at the time. I DD at least $250 per month to avoid fees and use it as my ACH bill pay account and the checking for my Target Red Debit.

 

 

Amex Blue Cash $20k
Chase FU $9.2k
BOA Cash Rewards $7k
Comenity BJ's Perks Plus M/C $8k
Cap1 QS $750 (AU), BOA Auto
Oct. 2019 TU 820, EX 820, EQ 797
INQ 1/6, 1/12, 2/24.......TU-0, EX-2 EQ-2
Message 6 of 20
New Contributor

Re: Your Preferred Checking and Savings


@ToxikPH wrote:

I use Chase and Citi. Chase is where my spending money goes to and my car payment. Work only lets me have two checking accounts with DD so I have to take that car payment to another credit union which I would love to get away from because I personally don't like the idea of how small CUs are. Plan on refinancing my car to Chase when my AAoA increases and less inq. Citi gets my debt payoff cash and my savings since the APR is higher than Chase. I really wish I could do one bank but Chase doesn't have a lot of offerings like PLOC, high APR, or money markets.


I don't understand... 

Message 7 of 20
Frequent Contributor

Re: Your Preferred Checking and Savings


@VPExecutive wrote:

@ToxikPH wrote:

I use Chase and Citi. Chase is where my spending money goes to and my car payment. Work only lets me have two checking accounts with DD so I have to take that car payment to another credit union which I would love to get away from because I personally don't like the idea of how small CUs are. Plan on refinancing my car to Chase when my AAoA increases and less inq. Citi gets my debt payoff cash and my savings since the APR is higher than Chase. I really wish I could do one bank but Chase doesn't have a lot of offerings like PLOC, high APR, or money markets.


I don't understand... 


I want the assets of a large corporation so I know the money is safe and a company that's very large wouldn't run the risk of cyber incidents without fixing the damage or stealing the money themselves (What happened to WF). 


New Accounts: 13/6 15/12 16/24 oops
I think I got all I want...

Message 8 of 20
Super Contributor

Re: Your Preferred Checking and Savings


@ToxikPH wrote:

@VPExecutive wrote:

@ToxikPH wrote:

I use Chase and Citi. Chase is where my spending money goes to and my car payment. Work only lets me have two checking accounts with DD so I have to take that car payment to another credit union which I would love to get away from because I personally don't like the idea of how small CUs are. Plan on refinancing my car to Chase when my AAoA increases and less inq. Citi gets my debt payoff cash and my savings since the APR is higher than Chase. I really wish I could do one bank but Chase doesn't have a lot of offerings like PLOC, high APR, or money markets.


I don't understand... 


I want the assets of a large corporation so I know the money is safe and a company that's very large wouldn't run the risk of cyber incidents without fixing the damage or stealing the money themselves (What happened to WF). 


if they have NCUA or FDIC insurance i wouldn't worry too much about that imo.



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 9 of 20
Valued Contributor

Re: Your Preferred Checking and Savings


@mongstradamus wrote:

@ToxikPH wrote:

@VPExecutive wrote:

@ToxikPH wrote:

I use Chase and Citi. Chase is where my spending money goes to and my car payment. Work only lets me have two checking accounts with DD so I have to take that car payment to another credit union which I would love to get away from because I personally don't like the idea of how small CUs are. Plan on refinancing my car to Chase when my AAoA increases and less inq. Citi gets my debt payoff cash and my savings since the APR is higher than Chase. I really wish I could do one bank but Chase doesn't have a lot of offerings like PLOC, high APR, or money markets.


I don't understand... 


I want the assets of a large corporation so I know the money is safe and a company that's very large wouldn't run the risk of cyber incidents without fixing the damage or stealing the money themselves (What happened to WF). 


if they have NCUA or FDIC insurance i wouldn't worry too much about that imo.


+1 - as long as they're under federal insurance programs, you're safe.
And clearly, size does not keep people from stealing money or acting unethically (exactly what happened to WF).

03 Oct 2019


Garden goal: keep on keepin' on
Usually a faithful practitioner of AZE5or6or7; working on AZE1or2 and grumbling about it.
Message 10 of 20
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