What Bank to Choose

[ontheroadagain]

thanks Willy, I laughed for like 10 minutes from the vid's ending comment

 

[Zil]

I use Ally with direct SS deposit. They refund all my charges each statement. I have the higher interest savings and a money market account for backup to the interest checking. This allows 12 free overdraft transfers per month (6 each). I use their mastercard for almost all my purchases to keep track of my spending. I can transfer money to and from other banks (loan to family) or scan or photo checks for deposit.<br><br>I also have Bank of America as they are every where I have been. I avoid fees with direct deposit of pension and a monthly auto transfer to savings. I use the Bill Pay to automate my life and avoid being late on payments. BoA is less forgiving of fees and they have many if you are not careful. I have the Visa card. I can make deposits at their ATMs. Cash or checks. <br><br>I also have built credit history with a union backed credit card that started as secured and after a year now gives me $1200 credit limit. <br><br>On all accounts i have protection from unauthorized transactions. I had to use this two times, gas stations hire thieves. Both work well for me.

 

[TxGypsy]

I would cautiously recommend Bank of America. &nbsp;They are nationwide and there is generally one within reasonable driving distance. &nbsp;The other reason to have a BofA account is that you can withdraw money from Santander ATM's in Mexico with no fee. &nbsp;You do need to keep an eye on BofA. &nbsp;They are very fond of fees, but it is possible to avoid them if you are vigilant.

 

[Morgan7600]

Hi Guys,&nbsp; I have automatic deposit for my pensions each month.&nbsp; Right now it is with Chase but<br>I would like to see them in my rear view mirror getting smaller and smaller some day soon.<br>I'm also an eBay seller and use PayPal for direct deposit on all sales.<br>Since I mostly just use my Debit Card and would go paperless with the few bills I <br>will have on the road, I too have been wondering which bank would be the most<br>welcome across the states?&nbsp; This is a detail that must be right when one is planning an escape!

 

[Morgan7600]

As a PS to my own post a moment ago, I have checked out some other local banks and they <br>all have the same feeling if you know what I mean.&nbsp; So there is probably a good chance I'll<br>just keep Chase.&nbsp; The road is not the only thing that is crooked these days eh?

 

[James AKA Lynx]

I suggest you have 2 accounts in different banks. Just in case your account gets frozen. Lots of banks offer "Free" accounts with no monthly fees.<br><br>Always have enough cash for a month expenses. Never carry more cash that you are going to spend that day. Most banks are not careful about letting people know how much money they are giving out to you. <br><br>When I was in the Bahamas and I took out cash, <span style="text-decoration: underline;"><em>Everybody in the town knew how much I took out!!!!!</em></span><br><br>James AKA Lynx

 

[Morgan7600]

OK so exactly as I anticipated...&nbsp; <br><br>Question: Best bank to use on the road?<br><br>Answer: They all suck!

 

[stude53]

<span style="color: rgb(0, 128, 0);"><strong><span style="font-family: arial,helvetica,sans-serif; font-size: medium;">Morgan,</span></strong></span><br><br><span style="color: rgb(0, 128, 0);"><strong><span style="font-family: arial,helvetica,sans-serif; font-size: medium;">Credit unions have the lowest fees. I use&nbsp;two credit unions.&nbsp;One has branches most places I am nearby.&nbsp;&nbsp;My other&nbsp;credit union offers shared branching, I can go into&nbsp;any credit union that is on the shared branch list nationwide, and deposit money or withdraw without fees. I have direct deposit to one credit union, and no cost transfer of funds to the other. Works well for me.</span></strong></span><br><br><span style="color: rgb(0, 128, 0);"><strong><span style="font-family: arial,helvetica,sans-serif; font-size: medium;">Bob</span></strong></span>

 

[Morgan7600]

Hi Bob,&nbsp; You know I have heard that they are the best choice.&nbsp; We have a Navy Federal CU and others here in San Diego.&nbsp; I should take a look.&nbsp; Thanks,&nbsp; M

 

[user 423]

+1 on the credit unions. I have the same setup as stude53. Still get some ATM fees, just depends on where you are. Paperless on both and also have eBay/PP tied to one with a 6.5% Visa.

 

[Morgan7600]

Hey slowday,&nbsp; are you a seller like me?&nbsp; That's something that comes up frequently for me.&nbsp; When I was in the electronics, computer string, most folks said to watch out for using Paypal in hotspots.<br>Ooops, that's for another area of the forum isn't it...&nbsp; Anyhow, eBay is slow right now but I've done ok to supplement my pensions that way so Paypal and banking is a key issue that way...

 

[user 423]

Hmm...I haven't had any problems but then I don't sell a ton either when travelling. I have the secure satellite ID thing to sign in to PayPal and use AVG on my home PC and my laptop. Probably should read up on that type of thing before I go full-time in November.

 

[Morgan7600]

slowday,&nbsp; can you elaborate for my further edification, what is AVG and when you say secure sat ID?<br>I think we're dragging the money matters string into the computing string...&nbsp; Oh well :::<br>I obviously have a lot to learn and the on line access procedures, what is good, what is bad, what is cheap? is always of interest to me right now.&nbsp; So far, I've just learned that I will need to "tether" my iPhone to get on line.&nbsp; Correct or not correct?&nbsp; When I get going, I won't mind spending some $$$<br>on upgraded roof antenna's for Internet seeing as it's for my income.&nbsp; thnx,&nbsp; M

 

[user 423]

https://www.paypal.com/us/cgi-bin?c...tycenter/PayPalSecurityKey-outside&amp;bn_r=o<br><br>PM sent.

 

[Morgan7600]

Wonder how I missed that..&nbsp; Thanks,&nbsp; M

 

[Telcobilly]

I had USAA through my dad (former Airforce), unfortunately a divorce lead to a subsequent bankruptcy causing them to close all lines of business with me. I'm hoping I cam get back with them after the 8 year period after the bk. Does anyone know if they will take you back?

 

[peacetara]

If you need, or feel you need local branches, then nationwide banks that are everywhere are very limited, you have BofA, Chase, Wells Fargo... that's about it. If you don't need a local branch, then I suggest an online bank, of which there are many, they tend to be almost completely free, and some even reimburse you for some things. I have used many diff. online banks (starting with netbank, one of the first). I currently use: Capitol One 360 and Simple . I'm happy with both. Simple has a unique take on 'banking', and if it fits for you, it's a great solution. Both are free. I used to travel outside the country a lot, so I have an account with HSBC, they are ok as well, and great if you need outside the country access. Credit Unions are also good, tho they can have some odd rules about becoming a member. I have an account with Bank of America (in a monthly free account), that I don't keep much money in, in case I need a local branch for something, but have most of my money in online only accounts. The problem is, if you lose access to an online only account, and your 'address of record' with them is not remotely close to where you are, it can take a month for you to get a new debit card, or pin # or whatever, to access your account again.. This is the main reason why I have a BofA account as well.

 

[Zil]

I have the same solution. I have direct deposit to Ally Bank. I can not say enough good about Ally. I have another direct deposit with BoA. They are convenient in most areas of USA. About the only good for BoA.

 

[Optimistic Paranoid]

I'm currently using a local credit union for all my "banking". But I'm enough of a neo-luddite that I don't like using atms, I want to be able to walk into a local branch.

As far as I can tell, none of the super banks are in all 50 states. None of the eastern banks - BoA, Chase, Citi - have branches in places like Montana, Wyoming, or Alaska. Wells Fargo is a western bank, and they have branches in all of those states. They also have a local branch about 20 miles away from me, so I'm probably going to open an account with them.

You can search each banks online site for where their local branches are, to see where they do business and where they don't.

Regards
John

 

[akrvbob]

Wells Fargo merged with Wachovia (a large Eastern bank) and they are now in 39 states. I'm with B of A and very happy with them, but if I could do it agian I would give Wells Fargo serious thought.

https://www.wellsfargo.com/press/2009/20090101_Wachovia_Merger
A quote from their merger press release:
Wells Fargo now has community banks in 39 states and the District of Columbia and is #1 in deposit market share in 18 of those states plus the District of Columbia.* It also is #1 in the U.S. in community banking presence (6,650 stores), small business lending, middle market commercial banking, agriculture lending, commercial real estate lending, commercial real estate brokerage, and bank-owned insurance brokerage. It is #2 in banking deposits in the U.S., home mortgage originations and servicing, retail brokerage (number of financial advisors), and debit card. Wells Fargo is one of America’s largest private employers with 276,000 team members.

Bob