Where do you bank? - Page 3 - The Finance Forums: Financial planning, debt help, loans, mortgages, retirement and 401k, investment, and general finance discussion forums

Jerrydill · #21 (**permalink**) 05-22-2008, 08:56 PM

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.

spencer24 · #22 (**permalink**) 05-22-2008, 09:51 PM

I bank at my local bank as well.

Bradenton Ins. Group · #23 (**permalink**) 05-25-2008, 07:15 PM

I was a Vice President of Wachovia. If people knew what was going on inside of their walls they would be closing accounts. Its all politics and corruption. Do yourself a favor and find a local bank that you can build a relationship with.

EmilySBK · #24 (**permalink**) 09-09-2008, 06:57 PM

When you think of banks, more often than not, you think of big money-hungry corporations...right? Well, not so fast. There are a number of banks that really understand the idea of corporate social responsibility, whether they give back by helping to develop communities, or by investing in environment-preserving ideas. You can make your money do more for you and your community by banking responsibly.

notaclone · #25 (**permalink**) 09-12-2008, 07:44 PM

I use Chase for my main credit cards and checking; business and personal, but have abandoned all attempts at earning money through them. The Investment Services group is abysmal. I can only guess that the staff overturn is so high that there is no hope of dealing with an experienced banker at any level of the company. However, the online interface is adequate and the perks at my account level good. The Quicken interface is imperfect, as I am forever fixing entries.
For interest, I now keep the bulk of savings at EmigrantDirect and more recently, for business, INGDirect (each for a whopping 3%).
No luck earning money with Morgan Stanley either. The only wise thing I have ever done with my money was buy Apple!
I like the 3% back on the Chase Freedom card, and Citibank has a lovely "virtual credit card" for internet purchases. I use PayPal as well for such transactions.

Coop · #26 (**permalink**) 09-13-2008, 11:54 PM

I just opened an account at Fifth Third for all of my online funds. Basically it was because I wanted to seperate my living budget to my online ventures money. I chose the bank because it's nearby, pretty much.

sahota7 · #27 (**permalink**) 10-04-2008, 07:24 PM

I won't say the name of the bank.. BUT, I enjoy my bank because it's paying good interest and its still pushing strong in the market over here in the UK. Well that might bring the very few names back up, due to the crappy market right now.