mobile banking

[DrJean]

I've tried posting about similar matters and well, those threads are no longer active due to OT replies.   Please be considerate.

I am wondering if anyone else is having issues with their bank and mobile banking?

I use Chase, one of the largest and with plenty of options etc.  However, within the last 2 years the mobile app began allowing only 2 items per day...  similar to the drive-through too I guess, so?

But now it is limiting the amount of money transacted in one day!  Total, all accounts, deposit or withdrawal...

...  that can crimp my style I think as I had been planning upon relying upon the mobile app to help me manage those "cash" like accounting actions.   I often only have the "money mind set" once in a while and having to wait until the next day to finish my "banking" (and this week I had to spread things out over 3 days)... ugh.

Is anyone else cognizant of this type of restriction at the bank where they have and use accounts?

 

[speedhighway46]

The "problem" with Wells Fargo, and Bank of America did almost the same thing, is that they took billions in bailout money during the recession which was supposed to help mortgage holders who were upside down on their loans, and instead used the money to buy other troubled banks and pay their fat-cat executives huge bonuses which would have gaged Moby Dick.

That's what's wrong with them.

Just my opinion . . .

 

[Almost There]

Well, yes and no. The only limit on daily usage I have is that my bank account has a limit of 10 debit transactions for each monthly period or I pay an additional fee for anything over that.

I do have limits on how much cash I can take daily from all my different banks via ATM machines. It's way more than I would ever consider carrying in cash anyways so it never bothers me. I don't think I've taken cash from an ATM in 2 years.

I am usually careful the number of transactions and get my cash out by doing a cash back when I'm grocery shopping - 2 for one you might say...

 

[Weight]

I have set Bank O Amerika as my direct deposit SS. I then use Bill Pay function to pay all my regular bills. I keep BoA as it has branches accross the country. But, I am very careful because of their fees. My daily use bank with debit card is Ally. I haven't had any problem with restrictions or limits except for the 6 transfer limit on Savings accounts. I keep two savings accounts so I can get around this. They recently put a 10 transaction limit on refunding ATM fees. I have started with USAA, but find I get some strange fishing e mails that use their name. Ally offers higher interest. Credit Union has many hidden fees.

 

[DrJean]

I don't use the atm.... ever! Don't even have a debit card and have it marked on my accounts not to open one without ME. hahaha

I'm looking into moving to a cheaper county in FL (or at least buying a UPS box address) but then thought since all banking is going online, why not open a bank account in that city too?

Anyone have any suggestions or caveats to doing this? I would have a government check DD so no fees for now....well, I hope.

 

[Weight]

i have been many, many years using debit cards. no problems.

 

[Dgorila1]

We have never ever used our debit cards for debit transactions, only credit.

 

[Every Road Leads Home]

^According to a few articles I read, using one as debit or credit is the exact same. It's not in reality a credit card so you don't get the protections you would from using an actual credit card. Only difference is the route the money goes from your account to the merchant, like a train taking a different set of tracks. I've never actually looked into my particular bank to see if there is any difference, but now I think i'll research it just out of curiosity.

 

[WalkaboutTed]

I had been using both USbank and Navy Federal. Usbank is bye-bye as I'm not too thrilled with them for multiple reasons, including their app. My husband now (and I did in the past) has his main account with USAA FSB. They've always had a wonderful internet interface because there is only one S&B branch, in San Antonio, Texas. Navy Federal also has only a few S&B branches and they're a piece of cake to deal with online.

If you're able to get an account at either institution, you may want to consider either USAA or Navy Federal. The apps are good and service is great. I have an ancient, but unused account at Schwab which I'll be using on our travels. No charges for anything. I just need to move a direct deposit.

We never use debit cards. Once the USBank sent me one against my request. The card was stolen out of my mailbox, but never activated. That didn't matter, it was used all over town and my account was debited for every fraudulent purchase. I would call and they would take the purchases off and then two weeks later, they would appear again. This happened for months. Once I spoke to a rep who accused me of fraudulently using the card myself because it had been used in my neighborhood (duh, it was stolen from the mailbox-in my neighborhood!). I then tried to close my account and they told me then they would continue to approve the charges and would begin collections.

Yeah, sure, use a debit card at your own risk.
Ted

 

[VanKitten]

Credit unions.

My credit union.. digital federal credit union has no such limits...of any kind. They do not charge for any transactions...and do not charge for going over a transaction limit as they have no limits.

I can use shared branch anywhere in the USA...except upstate NY. (Go figure).

I bailed out of the banks long ago.

 

[user 37446]

Really good info - i know their are individual cases like the stolen mailed debit card yet overall what the responses are is good. I don't use a debit card, I think its just too "dangerous" as the account can get cleaned out. 

I use a credit card due to the built in fraud protections. I have no difficulty controlling my spending, so I take advantage of their money and the 30 day billing cycle, plus I have good credit now, in case I need it.

The credit unions have organizations that allow usage with other agencies, so they are almost like the major branch banks. The other good idea was to get limited cash back from grocery stores and Walmart...

I do carry and use cash, and try to use that for anything smaller than $20 expenses. I don't use cash for gas since paying at the pump works ok for me. As a Costco member I use their facilities and save 10-15 cents a gallon over regular stations. Since I live in cities, and don't BLM or Nat Park stay, I can follow the Costco's as I travel.

Mobile banking is currently limited to Citibank, as that's who has the Costco Visa. They've been ok.

Obviously your lifestyle choices will drive or limit your use of a particular institution. If I had to pick a bank, it would likely be B of A due to them being all over where I travel most. Having a local account would be nice but the monthly fees take a lot.
Driving a Prius, with a 12 gallon tank, it's not like I save more than $1.20 - $1.60 max a tank, however it offsets their membership and they offer % off of other gas as long as you use their Visa.

 

[VanKitten]

Your debit card can be used as a credit card. Do not punch in your pin...instead select credit.

You get all the same protections with visa or MasterCard.

It takes about 3 days to clear in your checking account that way.

If you have trouble...you have the same transaction protection as a "real" credit card.

I never enter my PIN. Never

 

[WalkaboutTed]

RoamingKat,
The law vs reality was the case for me. But, perhaps it was just USBank. I was throwing away old paperwork last week and came upon some of the correspondence about my unactivated debit card used fraudulently. It was an ordeal. When on the road, we'll have one debit/ATM card tied to a checking account with a low balance-and stored in the safe.

It used to be that you could get a plain vanilla ATM cash machine card.
Ted