Least worst bank?

[Vagabound]

Hi,

Having recently arrived back in the States, it seems time for me to open a new bank account. The current obvious choices seem to be Bank of America and Wells Fargo. Both make me cringe. It feels like a choice between Hannibal Lecter and Darth Vader.

Without getting too much off track into prepaid credit cards and things like that (other threads do exist), what recommendations does the CRVL Brain Trust have for picking the least worst bank? 

Are there any banks in the US now that are designed to deal with people nearly 100% online?  I'm not talking about the basic online features that all banks have now, but rather an institution that was set up from the get-go to focus on online business.

Any banks particularly suitable to a mobile way of living?  

Any with low or no fee checking accounts?  I particularly want to avoid the bank fee death spiral.

Thanks,

Tom

 

[Gunny]

Tom, I don't know if you are a veteran, but USAA has been great for me. They refund ATM fees and you can get a cash advance at most major banks. No fees except the usual overdraft and such.

Rob

 

[Optimistic Paranoid]

The least worst bank isn't a bank, it's a credit union.

 

[mayble]

Capital One 360 started life as an internet only bank (used to be ING) has slowly been combining its S&B & online entities, but it is set up to function with no actual human contact.
I've been with them for years.

 

[ramblingvanman]

I second USAA. I use them and a SB credit Union

 

[Canine]

Stay away from Wells Fargo.. Good grief, I'm likely moving to a credit union.

 

[Dgorila1]

The least worst bank isn't a bank, it's a credit union.

I agree, all banks suck! They are for profit. Use a credit union.

 

[BradKW]

There was a thread not long ago that talked about how many small credit unions are grouping together to offer nationwide convenience...someone even linked an app that showed location.

I agree that CU's are the best bet on many fronts...unfortunately the one I've been with for a long time hadn't joined that group, and I didn't bookmark the info. <aybe someone remembers...

 

[squatting dog2]

Capital One 360 started life as an internet only bank (used to be ING) has slowly been combining its S&B & online entities, but it is set up to function with no actual human contact.
I've been with them for years.

yep... X2 strictly online for us. no need for S&B.

 

[speedhighway46]

I'm just going from memory here, but isn't Ally an on-line bank only. I think it grew out of the old GMAC.

Maybe you should check that.

 

[frater secessus]

Yes, Ally and Charles Schwab are both online only. There are others but I can't remember them. I've been delighted with Ally so far.

 

[VanKitten]

Yeah...credit union.

Pick a federal credit union....look at what they use in "shared branch".

Also...look hard at the terms for their free checking ... make sure you do not join one like Campus Credit Union in Florida....they took all the money I parked there. I left it alone for a couple years...they took all the money for "account fees". Just pick one with really free checking.

 

[Every Road Leads Home]

I have a Schwab account and a Capital one 360 and have been very happy with schwab. I actually forgot I had the Capitalone 360 account for the last few years, it was originally an ING account and when it switched I guess I just never thought about it. Just discovered a long lost 1600 bucks in it!

My local Massachusetts bank (Eastern Bank) is awesome though, I don't know how they make money because they don't charge me ever. Don't get charged for overdrafts, and they'll cover large checks if i'm short, they've covered a few hundred over what I had in there more than once. And I get reimbursed for all atm withdrawals no matter what bank I get them from. They'll also send me free checks when I run out. I know when I opened it you had to have a balance of 10k to get all the free stuff, I haven't had 10k in this particular account for a few years. Don't know if I fell through the cracks or if you just have to start with that amount and then it doesn't matter what you do.

 

[cyndi]

USAA if you're a veteran. CU if not.

USAA offers all kinds of other services, too

 

[akrvbob]

I have both a Bank Of America and a Wells Fargo account. I'm totally happy with both and recommend them. It's really hard to go anywhere out west and not run into a WF branch.

 

[IanC]

I switched from my credit union to BOA before I left on the road just because of ease of access. I haven't seen any sign that it's better or worse than any other, just convenient.

 

[Vagabound]

Yeah...credit union.

Pick a federal credit union....look at what they use in "shared branch".  

Also...look hard at the terms for their free checking ... make sure you do not join one like Campus Credit Union in Florida....they took all the money I parked there.  I left it alone for a couple years...they took all the money for "account fees".      Just pick one with really free checking.

So I wonder how somebody would specifically avoid that problem at a credit union?

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As for as for USAA, I've been a member for over 30 years, but haven't used them for the whole time. They're on my shit list at the moment. They initially insured my truck, and then a month later told me that their underwriters decided that they don't insure this kind of vehicle (box truck). Handed me off to another insurance company. Haven't given them much thought in terms of banking before. Overall, my impression is that they have slid downward in customer service over the years. That's a shame, because they used to be world-class. Probably just a result of going from an exclusive car insurance and retirement Investment company, to a company that tries to do everything for almost everyone now.

Tom

 

[Gunny]

Tom, they farm out RV's and motorcycles to Progressive. Supposedly Progressive gives a "discount" which I found was Bullshit, but for all other things I have had decent service. They finally went with smart phone deposits and cash deposits at most ups stores.

I've always been able to speak with an actual person without much hassle which is important to me, I hate playing computer tag.

Rob

 

[Vagabound]

Good to know. I look into the details a little more.

Smartphone deposit: I never heard of that before. Just looked it up online. Now that's finally using technology to be useful instead of a pain in the ass. Do you have to eventually mail the paper check to them?


UPS Stores: In my experience, when all the gougers were run out of Gougeville, they set up shop in a new location and named it UPS Store. What does it cost you to make a deposit or do any other banking to thing at a UPS Store?

Tom

 

[Gunny]

No on sending the paper check, I keep it for awhile just in case but haven't needed it. It costs nothing to make a cash deposit at the UPS near me, but I have only done it a couple of times. At the end of each month they credit my account for the atm fees.

Rob