What Bank for Checking Account?
So this may be a silly question, but I have no idea so I am going to ask you guys. I have a small bank from my home town that I use, but I want to use a bigger bank that is widespread in NY for when I start working. I waited until I got a job because I thought that if I got a job a JPMorgan, I would get a Chase account, and if it were Citi I would get a Citibank account, etc. I thought it might not look that great if I worked at Citi and had a Chase bank account, etc.
But I am going to be working at Goldman, so what bank do you guys recommend me using? Preferably one that has an ATM somewhere close to 200 West St
JPM, is the most convenient in all of NYC then I would say Citi.....
Fidelity or Charles Schwab. Both pay interest, reimburse all ATM fees, and allow you to deposit checks either via their smart phone apps or mail.
I agree Charles Schwab is definitely the easiest to use considering they reimburse atm fees and can deposit the checks via smartt phone
Charles Schwab Investor's Checking is the way to go.
Which bank for a checking account? (Originally Posted: 09/29/2006)
Hello! So I will be moving to New York in a couple of months, so I will need to get a checking account. So far, I have used a big Southeastern bank, which has no presence in NYC, so I will obviously have to switch, considering how cash-oriented the city is. Which bank has the best programs and most available ATM's? BofA, Commerce bank, HSBC? Thanks in advance!
TD = no fees
well what I would do is find one thats close to where you'll be living.
most ATMs = BoA and Chase. any more fees they charge I save on having an atm almost every 2-3 blocks and not having to pay the $1-$2 surcharge from using another ATM.
if ur ib youll need multiple check accts :)
Also keep in mind if you have a brokerage account some banks make you bring it in house if they have Asset Management even if you don't meet the required minimim.
checking accts dont really matter these days, as most are free or close to it
Analysts what bank are you getting for checking accounts and why? (Originally Posted: 04/01/2007)
So, I had an issued deciding on a bank, seeing how I am not from NYC, so I did some research. Hopefully, this thread makes it easier for some of you to pick a bank. I had a large bank that has no branches in NYC so I switched to TD Banknorth. They only have two branches in NYC, but one of them is across from my bank's HQ, so it is really convenient. I don't need a branch close to home, becauseI will never be there during banking hours anyway. Finally, the biggest plus was no ATM fees from the bank and at the end of each month, they refund all ATM fees charged by other banks
chase....unless i can find a better bank that will refund the fees from the chase atm in my bldg (not @ JPMorgan)....
Well, TD Banknorth does, but I am not sure if you have a branch close to your bank.
That was the biggest seller for me, because I got destroyed by ATM fees last summer
They refund any and all ATM fees from other banks??? Am I reading that correctly?
even the ATMs in the corners of bars that are all sheisty
well i am guess that you were at GS b/c the td branch in manhattan is at 90 broad...
yep. I asked them on the phone like 50 times to make sure. All other banks' fees. It makes sense because they only have two branches in NYC
commerce bank and etrade bank also refund fees....commerce has a ton of branches in the city
Bank of America
problem w/ boa is that the don't have that many branches/atms in the wall st area....
chase is affiliated with duane reade so all the duane reade atms are chase (and if you have ever been in manhattan duane reades are as common as Starbucks).
bump
just checked out etrade bank stuff...they refund all ATM fees provided you maintain a minimum balance....and their money market rates are really good
The thing that bothers me about e*trade and other online banks is that they don't have any branches (or if they do, they are not close to me). At the end of the day, I would like to go an be able to deposit a check instead mailing it and risk it getting lost. In addition, there is an element of human interaction that is invaluable, I think
can u deposit at chase atms?
etrade actually has 2 branches in manhattan...plus you probably are going to set up direct deposit for your paychecks anyways.
For money market i use ufbdirect.com. Refund ALL atm fees and pay 5.31% interest rate right now. No branches of course, but setting up direct deposit for a portion of my check is easy.
i actually saw more Chase's Citi's HSBC's and Bank of America's in Manhatten than I did Starbucks and thats saying something.
Citi bankers get Citibank checking accounts with no fees/restrictions as well as Money Market savings accounts with no min balance required.
probably true at any of the commercials: Citi, JPM, boa
Banking for Bankers in NYC (Originally Posted: 05/31/2007)
OK, OK, I know the issue has been discussed before. But just to give the new entrants in this forum a shot at this discussion and to refresh my own memory.
What savings/checking accounts is good, especially if you live and work MIDTOWN.(easy transfers, LOTS of ATMS etc)
So far I liked HSBC direct and CITI.
I would perfer any bank that won't transfer me to a customer service representatives in India. (I guess that means no bank)
i hear ING is pretty good.. or Emigrant Bank...
can use any ATM in NYC without paying fees
I like ING Direct. Great online banking. 4% apr interest on checking, 4.5% apr interest on savings. No fee. Don't pay fees at non ING atms. Free $25 when you sign up. Only con is that they don't do wire transfers. So when I wanted to wire my rent payments when I found my apt, I couldn't do it.
Signed up with WaMu the other day for the free wire transfers. They offer a nice 5% apr interest rate on savings, no interest on checking though.
chase i think has the most ATMs in nyc and also is offering a $100 reward if you sign up with them using direct deposit
I'm a Wachovia fan
Citi e-savings
Who do you do your personal banking with? (Originally Posted: 12/01/2010)
Checking, savings, etc.
Small community bank back in IL.
Find a community bank or credit union. It's a lot cheaper than a big bank.
I currently bank with a big bank and don't pay anything to bank with them. I simply hate the smug attitude of their employees and have been considering switching to a smaller big bank like Wells.
^^^ Wells Fargo is hardly small, now. Go with a credit union. Great rates, great service, no fees.
My CDs and non-checking reserves are all with Ally.com.
HSBC, pretty reasonably priced and useful if you do a lot of international travel; have branches everywhere, and they don't charge international fees for using your debit card internationally. I use an AmEx gold for my credit card, have one for both USD and GBP. I use my debit card if that's not accepted.
Wells is smaller than my current bank. That is why I said "smaller big bank."
I have a credit union, it's just meh.
I have two seperate bank accounts, one with a big bank and one with my employer. The big box shop is where I do my basic banking services (checking, bill pay, etc.). I have a banking account with my employer since I get better rates on savings than I do with my big name bank. Whenever I need to move funds, I cut a check from my account and have it print in my office before walking the 2-3 blocks to the bank to deposit it.
I do need to second what IP said about Credit Unions. They are a much safer place to hold your money. It's something that I plan to look at in the near future. I just dislike my big box shop that damned much.
There are a few nice smaller banks (Bank of the West comes to mind), but they are hard to find here on the East Coast.
Chase. UBS for investments, Interactive Brokers for personal account
Chase. GROAN
I quit dealing with Chase back in college after they let me overdraw my account for a debit transaction.
That and when they wanted me to renew my one year Washington Mutual CD at 0.25%/year interest with a 3% early withdrawal fee.
haha
I still go to Jamie Dimon for some stuff. I have a checking at a community bank as well.
I'll second the credit union suggestion. The convenience of it being on location is obviously great, but their service is top notch. I actually go down there and handle most of my banking in person because they're so great. I do stll have an account at Fifth Third, but they're awful so I probably haven't set foot in their in 5 years.
I'm currently earning 2.5% (limited to $25k) in my checking account through my credit union and they offered very competitive mortgage rates as well.
^^^ Yes, but you have to do direct deposit and make 10 debit transactions per month.
Ally.com offers a 5 year CD at around 2.5-3% with a 60 day early withdrawal penalty.
I've got my checking account with Charles Schwab - 0.75% interest (variable) which is decent for checking, and the real sweetener is free use of any ATM in the world. Just agree to the fee at any BofA, Wells, Chase, or other ATM, and Schwab rebates me the fees at the end of the month. Yes, they'll even rebate you the $10 strip club ATM fee. Really.
Brokerage and IRA with TradeKing, since their trades are cheap and I don't need anything fancy. 401K with Fidelity because that's who my employer uses.
For credit cards - I have the Gold Amex because the 3X travel and 2X grocery rewards really stack up for me. I've also had a Citi Dividend Platinum card for years now, but hardly use it since I got the Amex.
IP - I refuse to do any business with Ally. I can't bring myself to support the disaster that is GMAC.
This could have saved me thousands in college =\
I'm @ BofA and it costs me nothing because of the balances in my account. Customer service is pretty hit or miss however.
Wells Fargo can blow me.
I'm banking with US Bank right now, I'm actually really surprised at how well they've treated me. They're smallish for a big bank, and it definitely has more of a small-bank atmosphere when you walk through the door. At least mine does :)
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