05-22-2008, 08:56 PM
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Junior Member
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Join Date: May 2008
Location: Iowa, USA
Posts: 29
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Re: Where do you bank?
I bank at my local bank. They provide the best rates for savings accounts and give you some better deals on investments and better interest rates on loans. The only downside I see to this bank is the fact that there are only a few ATM's that I can get money at. Which in the grand scheme of things isn't bad at all. It can also be difficult with credit cards because I didn't apply for most of my credit cards through the bank. I would recommend this bank to a friend. Local banks are given a bad reputation because they aren't as spread out as most banks, however you have better service than most banks.
Quote:
Originally Posted by Mark A
Everyone who's interested in finance should be able to answer this question: Where do you bank, and why at that institution?
What do you like about that institution?
What do you not like about that institution?
Finally, would you recommend it to a friend?
Personally, I have accounts at 3 institutions (counting paypal now). My main institution is the UW Credit Union, I used to work there, and they are the most member-centered place I could imagine, they consistently beat rates, and will proactively call me with info on better rates and special rates.
I also have an account with M&I Bank, where a 9% cut of my paycheck goes for my random expenses like lunches and so forth. This bank really shines when it comes to businesses, even giving away skybox seats to sporting events as a reward for customer loyalty. I don't like all the potential fees, but as long as I manage my account well I won't see those.
I just opened my paypal account so I could conduct business online, we'll see how that goes.
I would recommend each institution to a friend, but it really depends on their financial picture as to which one would be best for them.
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