Ditching my Bank.

Discussion in 'After Hours Lounge (Off Topic)' started by Philip_T, Apr 29, 2004.

  1. Philip_T

    Philip_T Supporting Actor

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    I'm getting a little fed up with some of the ticky tack charges my current bank (Vectra) is charging me for my checking account. $8/mo for checking (which I thought used to be free) and $5/mo for online bill pay. Its not a whole lot, but it ads up to $156/yr. I saw that WaMu was offering free online bill-pay and checking but thought I would ask you guys if you knew of any good banks out there that truly offer free checking or close to it. Good and bad feedback welcome.
    Regards,
    Phil
     
  2. DaveF

    DaveF Moderator
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    Hopefully you can find a better bank. I was with Chase Manhattan a few years ago and they had free checking and free online banking (with bill pay). My current credit union has free checking, no minimum balances, and free online banking.

    Certainly CO has something similar!
     
  3. Ron-P

    Ron-P Producer

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    Try to get into a credit union.
     
  4. Cameron Yee

    Cameron Yee Executive Producer
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    Yes, credit union is a good way to go. My parents belong to one, but their primary assets are in Wells Fargo. Every so often they mention they would be charged for this and that if not for being in some special program. Well, I get all the things they mention at my CU and don't have to do anything but keep 5.00 in a savings account.
     
  5. Philip_G

    Philip_G Producer

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    I have a USBANK free checking acocunt, free online banking and billpay, I have yet to be charged a fee for anything.

    After so many bad experiences with CU's I stick to full service banks for my primary account.
    I have a CU account through work that I use for car loans and personal loans.
     
  6. ChrisMatson

    ChrisMatson Cinematographer

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    I use Bank of America and have been happy.
    -Free checking (at least when I signed up last year, it was "free for life")
    -Free online banking and bill payment (saves time and money each month)
    -I haven't had any silly fees (only $1.50 here or there for outside ATMs)
     
  7. Malcolm R

    Malcolm R Executive Producer

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    Nearly all the banks around here offer free checking. I guess it depends on where you live.
     
  8. SethH

    SethH Cinematographer

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    www.netbank.com -- I love it and the only reason I will ever open an account somewhere else is so PayPal will verify me (they refuse to verify online banks)
     
  9. ChrisMatson

    ChrisMatson Cinematographer

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    NetBank disclaimer:
    Not Insured by the FDIC or any Federal Government Agency
    I wouldn't risk it.
     
  10. Carl Johnson

    Carl Johnson Cinematographer

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    In addition to my credit union which offers free checking I'm aware of a handfull of local banks including Bank One and Union Federal that run non stop advertisments for their free checking w/ free online bill pay offers. Shop around. I find it hard to believe that free checking is a dime a dozen in Indiana but is nowhere to be found in your state.
     
  11. SethH

    SethH Cinematographer

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    QUOTE: NetBank disclaimer:
    Not Insured by the FDIC or any Federal Government Agency
    I wouldn't risk it.


    Sorry buddy, but you're very wrong. From Netbank's website:

    "Our FDIC member number is 32575. You're welcome to verify that NetBank is FDIC insured by going to the "Is My Bank Insured?" page and entering NetBank."

    Please feel free to check it out if you'd like.

    That disclaimer is for their insurance and brokerage products.
     
  12. ChrisMatson

    ChrisMatson Cinematographer

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    Ahh...

    I found more information through the FDIC website:


    I should have researched that one a bit more...
     
  13. JustinCleveland

    JustinCleveland Cinematographer

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    Like Philip, I use USBank and have been extremely pleased with everything associated with it. They bought up my old bznk, Firstar, and there were very few changes. The online banking system is tight, and the free checking is killer. Plus, if I ever have problems, they give me money for my time. I've gotten 25 dollars so far, most of which came from their screwups (The lady putting in my info initially made a typo, which came back three times on my credit card so I had to get a replacement... not a big deal to me, but they gave me cashola. Then another time when the ATM was down for service I had to go inside, and they kicked in another 5 dollars for my trouble. It was great!)
     
  14. Philip_G

    Philip_G Producer

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    I forgot to mention, they pay me about $100 per year for using my check debit card with their "free checking that pays" thing, I get a percentage of my spending back on a rising scale based on how much I've spent.
    I don't carry cash or write checks anyway, so it's awesome for me [​IMG]
    They also give me 3 free foreign ATM uses a month, but I never use them (would still have to pay the other bank's fees)
     
  15. Philip_T

    Philip_T Supporting Actor

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    Well, looks like Philip and Justin convinced me to at least check out USBank. Sounds like they've got it right. And Philip, I use my debit card like there's no tomorrow so that benifit in your last post would be awesome for me as well. I do have a savings account with my works credit union, but for some reason, I was never that impressed with their opperation to try them out for checking. And I also had some bad experiences with other CU's in the past. The other option we have would be USAA through my wife, but I don't think that they have any branch offices in Denver so getting any kind of cashiers check my take longer. Thanks for all the info guys.
     
  16. JustinCleveland

    JustinCleveland Cinematographer

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    Yeah, I love them. They gave me a 50 dollar bonus when I signed up for direct deposit for my checking account and made my first deposit. It was great.

    I think the cash back rate is 1% annually, and that's not much for me, but it can add up if you are a person who uses your debit card. I only use checks for paying bills and the rent, so it's perfect for me. The only time I stop at my physical bank location is to deposit checks or use the ATM, and that's not often.
     
  17. Jason Harbaugh

    Jason Harbaugh Cinematographer

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    Vectra bank was the only bank in Colorado that would give me a checking account as they were the only one that didn't require a credit check complete with high marks to get one. [​IMG] I still don't get the reasoning behind requiring prestine credit for a checking account when all you do is put in your 'own' money and take it out.

    I would like to change banks now but I've built up a good rep with Vectra and will want to purchase a house soon so it may be good to stick with them when I need to get a loan. Those fees are annoying though.
     
  18. Philip_G

    Philip_G Producer

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    I find interesting ways to pay things with my CC.
    if only I could pay the mortgage with it [​IMG]
     
  19. Eric_L

    Eric_L Screenwriter

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    One word - overdrafts.. or is that two? Also check fraud, which those in financial dificulty are more prone to pursue. (Chek fraud = writing checks you know are bad - even if they bounce - they hurt the system. Imagine a system choked off by worthless checks bouncing all over)

    At the end of the day - your credit report is nothing more than your record of keeping promises - promises to repay money you have borrowed in regular scheduled intervals. Much of what defines character is illustrated by a persons ability to keep a promise.

    Bad things can happen - but a person of outstanding character still finds a way to keep their promises (and avoids getting over their head) A few minor glitches are forgiveable, even a more serious one can be overlooked, but a pattern of broken promises indicates a person not to be trusted to keep a promise. AKA- bad credit

    A person with a stellar record of keeping their promises is easily worth trusting for ever larger amounts.
     
  20. Philip_G

    Philip_G Producer

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    banks love overdrafts, they get to hit you for $30 a pop for each one, pushing you further negative, causing more overdrafts, causing more fees.
     

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