Over the years we've probably had our money in just about every so-called "big bank" on the planet. We had moved our money to Commerce Bank a few years ago and were really happy with them. Then TD Bank took them over and ever so slightly they've been taking away benefits and making it a little bit more expensive to do business there. I also have family in the Midwest and the West Coast and TD just doesn't seem to be where I need to be when I travel.
We have also been ING customers for about 11 years now and I have always been very loyal to them. They were a very important part of our path to debt freedom since keeping the emergency fund with them kept it somewhat out of the immediate area. Now that Cap One has taken them over and the interest rates have been dwindling we're not as keen on the Orange Dot as we used to be.
I think the point of my rambling is to just remind everybody if you're not happy with your bank you have a LOT of choices out there. It's making me woozy comparing all the different banks to each other. This is a case where personal finance really is PERSONAL because you really need a list of what you want out of your bank. Is it convenient? Can you get your money out when you need it? Do you have to wait an eternity to access your deposits? Do you do mobile banking? Is it free? Do you have to have a minimum balance? Do they offer mobile check deposit? Do they link with Quicken? Do they hammer you with fees? E-I-E-I-O.
if anyone out there is happy with their bank I'd be happy to hear about it. You never hear enough about the happy customer...especially in today's era of negative news. It'd be nice to hear a happy note or two from the Saving Advice realm about where they're putting their hard earned dollars (and cents!)
FWIW we also have money at a credit union. I love credit unions because they're very personal and personable but they also have their limitations for us in spots.
Thanks (in advance!)
Playing Bank Bingo
August 17th, 2012 at 02:14 am
August 17th, 2012 at 02:58 am 1345172335
I don't think I've been in a 'brick & mortar bank' for several years.
August 17th, 2012 at 04:04 am 1345176260
Up here in Washington State we have BECU, which is great (interest rate at 6% but only on the 1st $500, so a limit) ... except that last Nov when everybody was moving their money, they moved to BECU. So now there are ATM lines. Lots of ATM lines.
August 17th, 2012 at 04:10 am 1345176620
For our savings, we jump around banks much more, surfing for higher interest rates. I have been pretty pleased with Ally for the long run (nothing much better has come along, and I am not going to jump banks for merely a teaser rate - has to have a longer history of higher rates). So, it has been a while since we switched. But, I'd ditch them tomorrow for a higher interest rate.
August 17th, 2012 at 02:14 pm 1345212862
August 17th, 2012 at 03:08 pm 1345216138
August 17th, 2012 at 05:21 pm 1345224076
The mattress or the forced savings rate of a big tax refund (gov mattress equivalent) is looking better and better.
August 18th, 2012 at 12:06 pm 1345291573
Jerry
August 18th, 2012 at 03:37 pm 1345304247
Interest rates are just plain bad right now, no matter where you bank.
August 19th, 2012 at 01:35 am 1345340143