Bank Woes

[airbiscuit]

I kind of understand the Bank's perspective on customers who maintain low balances. Those customers are not exactly profitable.

 

[Oaktree]

The Toaster Transition—Evolving Away from the Free Checking Account

In fact community bank clients with fee-based checking accounts are three times more likely to have other accounts and products with that same bank.

mabusagency.com

Really?
I haven't seen a free checking account, nor "gifts" offered for opening one since the 70s. Maybe no service charge if you maintain a (fairly high) minimum balance, but that's it. A handful still pay interest on the balance, but these days it's such a pittance as to not be worth the bother.

 

[Oaktree]

One that I've been using for close to 20 years kept getting bought out. Back when all I had was dial up internet, I found a place called CompuBank. Web only, no branches.

I looked into online banks a while back, they seem to pay better interest but most seem to require a certain number of debit card transactions a month to qualify. Nope. No debit cards for me.

 

[Sigarms]

Did you get your free toaster yet?

Back in my hometown in Pa, we had a Polish bank that offered $500 for every toaster you brought in.

They didn't stay around long.

 

[fried1765]

Join a credit union Maybe??Been with my CU for 42 plus years great experience..

DITTO !!!!

 

[LS Tractor Owner]

I'm now in the process of shutting down my third local bank account. The first just flat out lied more than once. One person would tell me something when I asked how to do something and when I went to follow through, another person would tell me 'no, that isn't true, we don't do that'. The second applied hidden fees. They refused to disclose them openly, or even in their published fee schedules. You didn't see them until you were logged in and went to complete a certain task like a transfer. Then, and only then would you see that you would be charged. Repeated complaints yielded nothing, not even an admission of the error.

Now, this third one openly states they don't really care about what customers want and don't care if they leave. Also found out they share account information with third parties.

I've used Chase, USAA, CitiBank and Synchrony among others and while they all have their faults, you can usually work with them. But these local fools just don't care. And don't talk to me about Credit Unions either. I've looked at them and their fees, rates and account conditions are ridiculous.

Wow, I am a member of 3 credit unions.... none of which charge me for ANYTHING! No fee checking, transfers, ECH transfers, NOTHING!
I even get a small pidlance of interest on allof the accounts...

I have my truck financed through one... 2.49%....

You might want to shop around some more. We got away from ALL banks.... they will rip you off anyway they can!

 

[two_bit_score]

I'm now in the process of shutting down my third local bank account. The first just flat out lied more than once. One person would tell me something when I asked how to do something and when I went to follow through, another person would tell me 'no, that isn't true, we don't do that'. The second applied hidden fees. They refused to disclose them openly, or even in their published fee schedules. You didn't see them until you were logged in and went to complete a certain task like a transfer. Then, and only then would you see that you would be charged. Repeated complaints yielded nothing, not even an admission of the error.

Now, this third one openly states they don't really care about what customers want and don't care if they leave. Also found out they share account information with third parties.

I've used Chase, USAA, CitiBank and Synchrony among others and while they all have their faults, you can usually work with them. But these local fools just don't care. And don't talk to me about Credit Unions either. I've looked at them and their fees, rates and account conditions are ridiculous.

This seems to be a common theme with Diggin It.

 

[mikester]

I'm now in the process of shutting down my third local bank account. The first just flat out lied more than once. One person would tell me something when I asked how to do something and when I went to follow through, another person would tell me 'no, that isn't true, we don't do that'. The second applied hidden fees. They refused to disclose them openly, or even in their published fee schedules. You didn't see them until you were logged in and went to complete a certain task like a transfer. Then, and only then would you see that you would be charged. Repeated complaints yielded nothing, not even an admission of the error.

Now, this third one openly states they don't really care about what customers want and don't care if they leave. Also found out they share account information with third parties.

I've used Chase, USAA, CitiBank and Synchrony among others and while they all have their faults, you can usually work with them. But these local fools just don't care. And don't talk to me about Credit Unions either. I've looked at them and their fees, rates and account conditions are ridiculous.

Don't move to Canada it's a lot worse. Banks here are given guaranteed monopolies and customers are treated like dog sh@t stuck to the bottom of your new sneakers. Then like clockwork they raise your bank fees, change bank account plan names to remove free features like statements, pay zero interest, and declare record profits every year.

The latest gimmick is to offer long term savings plans that promise 1.95% interest in a promo period as long as you don't touch your money for 3 months at a time, then they drop the interest to 0.25% even though you locked in at 1.95%, and then you find you can't access your account anymore because they declare your account "inactive" after 3 months.

 

[3Ts]

I have 2 CU accounts, one of them going on 40 years and are pretty much free. They are the primary accounts we use since they cover most things we do with banking. As much as I don't want an account with BofA, they are the closest bank by far that will handle international money transactions, so we maintain an account with them just big enough to avoid most of the fees.

 

[daugen]

One that I've been using for close to 20 years kept getting bought out.

I bet this has happened to many of us. It's my whole life story, I'm now on bank 5 and I have never
requested a change. Started out with home town bank where I got a handshake loan on my first car to the county
bank that bought out the small banks. Then on to another bank who in turn got bought out by Wachovia.
Now there was a fine company with great tech. It was their online investment interface that Wells Fargo now uses, and Wells gets
none of the credit. Marvelous capability to have checking, savings, primary credit card and investment account information all on one page.
None of the credit unions has ever had that level of sophistication.
So all I do is click around with my mouse and the bills get paid and the investments get rebalanced.

Wells Fargo has had some pretty bad management; most of them got fired, and locals are nice.
Lot of hassle to change...and I don't pay any fees of any kind, and get free trades on the investment account, because I get credit for all the
accounts together. But if anyone else offered an online investment interface similar to Wachovia/Wells Fargo, I would sure consider it.