Does anyone know of a bank that doesn't suck?

[Haku]

WHY DO FRIGGIN BANKS HAVE TO SUCK SO MUCH!!!

Yet again I had to go to battle with my bank (1stbank of Colorado) because of some stupid rule that they come up with. So I drifted slightly under a $0 balance the other day due to me not realizing it was coming (admittedly my own damn fault in this case). The thing is, that didn't actually bring me under the balance, it brought me to something like $16.00 or so. That said, I had two bank card fees being processed for $11 and $24 respectively. The $11 one was from two days before the $24 one. Bet you can't guess which they processed first? Of course it was the $24 dollar one, with a $31 overdraft charge attached to it, followed by the $11 one with another overdraft charge. STUPID FRIGGIN BANKS!!! Needless to say they got an earful from me. I can understand wanting to pass big transactions like mortgage payments and such, which was their excuse, but when its small change stuff like that its very clear to me that they wanted to charge as many fees to my account as possible. Still don't see how it costs them $31 per charge under the limit to deal with those (or even close). I can see charging a penalty fee if I keep my balance that low for too long, but doing it "per charge" is just stupid. It takes what was a $6-10 lunch charge, up to $40 bucks. They were nice enough to waive one of the fees after I complained twice (once online through their "bank mail" system, and once on the phone). BLAH!!

Ok, end of rant.

That said, has anyone been truly happy with a banking experience, particularly one involving lower income people like myself at the moment? I've been generally happy with them, and have been banking with 1stBank since I was like 10 years old or something, even when I moved to NY for two years. That said, I'm sick to death of them trying to nickle and dime, and in some cases 50 dollar bill me. The only reason I haven't left this bank on several occasions is because I have heard horror stories from people from just about every bank out there, especially the national banks like Wells Fargo and Bank of America.

JH

[Chris]

Sounds too familiar Josh. I went through that and learned that banks are required by law to process in the order received, not date used. I was with WF until a bit ago when they really screwed things up. I wish I could suggest a better bank for you...

[BlackRubi]

I've always had much better luck and service with Credit Unions. Rather than FDIC insured, they have NCUA, which is for the same amount. If you need a loan or something, I've found that a credit union is more likely to give you one and in most cases a lower rate, primarily because rather than borrowing from the bank, you're borrowing from other members. The process is pretty much the same. I've even talked my way out of an overdraft fee before, and it wasn't too difficult. Maybe look into Westerra CU (that's who the Jeep is financed through from the dealership). I'm not sure of member criteria for other credit unions. I use Randolph-Brooks Federal Credit Union, but they're in San Antonio, so that's not really practical in this case. LOL.

[Chris]

Good idea Kyle, credit unions were opened up to provide the same services banks have always been able to do.

[Andrew]

I'm with Wells Fargo and have no complaints. But yeah if you overdraft they still charge you.

With direct deposit, if you notice that you're going to be a bit short for some reason you can request an advance online in $20 increments. The bad side to that is it's basically repaid at 110% so if you request $100 it's $110 to repay from the next direct deposit made. A bit steep.

But I don't tend to use that as I have my checking account tied to a credit card so if I overdraft they just charge the additional to the credit card and there is no fee for overdrafting unless you are overlimit on the credit card. So I don't worry about overdrafts much. I would check with your bank to see if they offer something like that. Just something with a small limit like $500 or so should be fine and most people can get that. Then you just pay it off whenever the funds get in your checking account.

[Haku]

Sounds too familiar Josh. I went through that and learned that banks are required by law to process in the order received, not date used. I was with WF until a bit ago when they really screwed things up. I wish I could suggest a better bank for you...

Thats the thing in this case, they were received the same day. They both posted as being processed on 11/27. Its very clear to me that the rules they implement are to increase fees. Just read an article that said that Nationwide, banks made $21 billion dollars on overdraft fees last year. There is a new legislation that is due to go through that limits what banks can charge you a fee for. I think it essentially stops them from being able to clear debit card and ATM transactions that put you under the $0 mark. Its common practice now to those through, and charge you a huge fee on top of it, so that will probably change. Still lets checks and Electronic funds transfers through though, so they still get to swindle money legally.

Kyle, I kick myself now that I passed up the opportunity to join the Credit Union that a former employer was partnered with (a Casino in Upstate New York). Might have to look into what it takes to join one of the Colorado ones like Belco or the like. I know it usually takes being part of a group of some sort, either employees or the like. I do generally trust those Unions more, just because of the structure they are made under. It would also be nice to have guaranteed rates and a lot better chance to get a loan when/if I need one.

JH

[Chris]

Credit Union of Denver: Everyone living or working in Jefferson County, who works for federal government agencies, RTD, Yellow Cab or certain other associations and businesses (http://www.cudenver.com/home/join/seglist), or who attends specific schools or colleges is welcome to take advantage of our services. Also, if you wish to contribute $5 or more to the John Lynch Foundation, an organization that helps our Denver youth become the leaders of tomorrow, you would be eligible to join. And once you become a member, your family members are eligible to use our financial products and time-saving services as well!

[Haku]

oh nice.......might have to look into that Chris. Nice way to do it too. I feel much better about giving to a charity instead of paying some stupid "starter fee".

JH

[WINKY]

from what ive learned ALL banks (not credit unions) SUCK

how i beat the process is by taking out cash and using cash. doing so will never allow me to overdraw my account. (still getting into the habit though) But it works.

im with ya on tired of them taking what money they want out of your account when they please before asking... I try to use debit whenever i can as that doesnt allow much processing time if any to occur.

[Smash]

from what ive learned ALL banks (not credit unions) SUCK

how i beat the process is by taking out cash and using cash. doing so will never allow me to overdraw my account. (still getting into the habit though) But it works.

im with ya on tired of them taking what money they want out of your account when they please before asking... I try to use debit whenever i can as that doesnt allow much processing time if any to occur.


I agree with you on using cash. The only thing that slows me down there is online purchasing.

[Haku]

I agree with the cash sentiment. My main problem is its way easier to spend it when its in hand, so I tend to burn through stuff pretty quick. Financially I keep it simple, and pretty much only have my checking account and a mutual fund. No credit cards or loans or the like. I like it that way, except for the fact that I have no credit history to speak of because of it (except for a few negative ones from like 7 years ago, which doesn't help). Guess I'm just waiting for that "big job" to make a house or the like a doable thing for me.

JH

[Speedwagon]

My vote is for a credit union. They aren't out to get rich off your back.

[Chris]

You can get a credit card from a credit union too. Buy on the card, go home and send them a check. Your credit rating will soar. ;)

[Patrolman]

Personal opinion is that Credit Unions generally suck too. They don't screw you over as bad, but can't offer and help or advice.

[Chris]

It doesn't sound like Josh is looking for advice so a CU may be a good fit for now.

[Speedwagon]

Personal opinion is that Credit Unions generally suck too. They don't screw you over as bad, but can't offer and help or advice.

That depends. I have USAA, and they offer almost everything under the sun. But I know they probably aren't typical, either.

[Rob]

We have accounts at FirstBank of Vail and a credit union and haven't had issue with either. But I haven't seen any advantages of one over the other, either. That might be because we haven't been in a position to be penalized with fees. But I'd be a little leery of any financial institution these days. It was just last year that Norlarco CU went belly up on bad real estate investments in Florida and had to be taken over by PSCU.

[Speedwagon]

We have accounts at FirstBank of Vail and a credit union and haven't had issue with either. But I haven't seen any advantages of one over the other, either. That might be because we haven't been in a position to be penalized with fees. But I'd be a little leery of any financial institution these days. It was just last year that Norlarco CU went belly up on bad real estate investments in Florida and had to be taken over by PSCU.

That's why they changed? My car loan was through Norlarco, and the last few months of it, it was PSCU. I was wondering what happened there.

[WINKY]

That depends. I have USAA, and they offer almost everything under the sun. But I know they probably aren't typical, either.


but as my brother found out that if your delinquent on their credit card they cancel your insurance.:mad:


i dont have any banking with them only insurance

[Haku]

We have accounts at FirstBank of Vail and a credit union and haven't had issue with either. But I haven't seen any advantages of one over the other, either. That might be because we haven't been in a position to be penalized with fees. But I'd be a little leery of any financial institution these days. It was just last year that Norlarco CU went belly up on bad real estate investments in Florida and had to be taken over by PSCU.

Huh, thats my 1stbank branch as well. I've had more luck talking directly to the people at that branch in the past actually. THe manager there actually refunded about $150-200 in overdraft charges when I had a scheduling mishap (pay check didn't come when it was supposed to), so obviously they aren't horrible.

As far as financial advise goes, not sure exactly what you mean but I haven't really needed it lately. My life is pretty cut and dried, and as long as I can afford rent and a couple bills each month I do just fine. I just get frustrated when banks do these shiesty things like that. I imagine even the Credit Unions suffer from it. Like I said, I would have left 1stbank a long time ago if I didn't think I'd get the same treatment or worse elsewhere.

Rob, just out of curiousity, why are you a 1stBank of Vail customer? I mean specifically Vail, did you live there for a while or something? I only ask because I grew up there, and my parents have lived there in some capacity since the early 70's.

JH

[Rob]

That's what happened. I was fairly pleased with Norlarco. I'm not as impressed with PSCU.

[Chris]

Up until I cancelled WF I was a Wells Fargo Minneapolis customer, location doesn't mean much any more. ;)

[cfr]

I agree. All banks suck. However...

I bank at 1stBank too. You need to sign up for their "Cash Reserve - Overdraft Protection" and have it added to your checking account.

They can explain it better than I can, but it's basically a $5000 line of credit that can be automatically tapped if you run into a situation that would cause you to normally go negative and be charged extra.

The challenge to managing this is not to treat it like a credit card (though it kind of is).

Call them up. It's saved my ass many, many times.

[1freaky1]

I have been with Colorado State Bank and Trust for a few years now and have been completely happy with them. No fees and I get cash back every October for using my Debit card as credit and I get reimbursed for any atm fees right away that are charged for taking out cash. It is the first bank I have used where it actually was a pleasure doing business with them and even though I may only go in there once every couple months the people always remember your name.

[Aaron]

Huge fan of USAA if you are ex-military.

[Medic-5150]

I use Bank of the West. Never had a problem with them. I've also used credit unions and was extremely pleased with them. I like the fact that with a credit union, you can walk into any credit union in the country and access your money/accounts. You can also use their vast network of ATMs. The only thing I don't like about them is they cannot handle bonds. Other than that they're pretty much full service. And the over draft fees are lower. Bank of the West offers something, If forget their name for it, but basically if you're approved for it when you overdraft your account they automatically open up a line of credit for the amoutn you overdrafted instead of charging you a fee. You then pay interest on the balance if you don't pay it off.

[Rob]

Rob, just out of curiousity, why are you a 1stBank of Vail customer? I mean specifically Vail, did you live there for a while or something? I only ask because I grew up there, and my parents have lived there in some capacity since the early 70's.

JH

I worked in Vail (and lived in Avon) from 1995 to 1998 when I moved back here from California, so I opened an account at the Vail branch. FirstBank locations, for some reason, are semi-independent. So, while I do all my physical banking at the two branches in Longmont (we refinanced the house, for example, at the branch on Hover and opened several new accounts there), we're still theoretically FirstBank of Vail customers. Still says so on our checks, too. That doesn't have any effect on our banking, fortunately.

[SubaCool]

I've got the same problem with overdraft fees. We have an account at Chase, actually two accounts (checking and saving). What pisses me off is that sometimes the checking account dips below zero and if we don't catch it in time (ie don't transfer funds from savs to checks) even with money in savings, it still charges overdraft fees :mad: It pisses me off. A stupid way to make money off of honest people. A $35 fee on a $1.30 under zero with say $400 in savings? Really? Yes, they do offer overdraft protection through a credit card, but not through another account (at least that's what we're told) :erm: Best to keep the cash under the mattress... Too bad you need an account for pretty much anything these days :mad:

[AboveNBeyond]

I happen to use 3 CU's, all are good... one is great but it is a 2 brancher in CA so that's out.

I have had good luck with Westerra, and to avoid the whoops situations I linked my Checking to my Savings for OD protection. No I know you still have to have $$ in the savings, but hell in most cases leaving even a $50 spot there would keep you safe from the Mickey D lunch costing the same as Red Lobster.

I would ask you current bank, or if you do switch, ask the new bank... "How can I protect myself from errors that could cause me OD fees?"

You might be surprised by there options.

[WINKY]

I've got the same problem with overdraft fees. We have an account at Chase, actually two accounts (checking and saving). What pisses me off is that sometimes the checking account dips below zero and if we don't catch it in time (ie don't transfer funds from savs to checks) even with money in savings, it still charges overdraft fees :mad: It pisses me off. A stupid way to make money off of honest people. A $35 fee on a $1.30 under zero with say $400 in savings? Really? Yes, they do offer overdraft protection through a credit card, but not through another account (at least that's what we're told) :erm: Best to keep the cash under the mattress... Too bad you need an account for pretty much anything these days :mad:

i had washington mutual that got absorbed by chase...


ChASE can eat my chocolate starfish i hate them. take a damn arm and leg to get cash withdrawn. With wamu i walked in with a simple slip, swipe my card place pin done.

[DETN8R]

Tell me about it. I have USBANK and today just got charged 2 $100 in overdraft charges for a $2.25 Amp energy drink I bought from a school vending machine.

The thing that sucks is that I signed up for their mobile alerts and they're supposed to text message me whenever I go negative. Well sure that would be great if I got the the text message when it happend and not the day after if I get it at all.

They will however allow you to deposit more the day of the transaction that put you negative but once they charge the overdraft fees and you notice when you get home from work at 6pm after getting off at 5:30pm and check your bank account only to notice that due to the overdraft charges your now negative $100+ but cant deposit more than that $100 at the ATM to save your butt.

That said USBANK sucks.

[brian pleasant]

i have been with bank of america for about 15 years, never had problems with them but i live here now and dont see any bank of america here geez....asked around..dunno..wachovia, wells fargo, chase, and others credit unions, i need to make a mind which will i choose but after reading this post seems like i am leaning to credit union