|
|
 Expert
Posts: 1718
  
Location: Southeast Louisiana | I've been with my credit union forever, but they more or less act just like any other bank now. I've been really miffed with them lately, but I have never shopped around for my banking needs and don't know where to start. I don't think there are any hometown banks around anymore, like the ones that keep your mortgage in-house and what not. Or are there? What do you all look for in a bank? Or are they all pretty much the same nowadays? Are some easier to deal with than others as far as loans for things like used horse trailers? I need some advice on what to ask while I'm looking at banks. |
|
| |
|
 Total Germophobe
Posts: 6443
 
Location: Montana | Here's what I did when I switched banks. I was with a nationally known bank at the time, but was piffed off at the service I was getting, so I went to a local credit union. One reason I chose it is one of their drive-ups is less than a block from where I work (that was a pretty big reason, because I could just walk to it!). The other is at the time they offered slightly better interest rates. They do all the kinds of loans I would ever need, if I needed a loan. Also, I have gotten to know almost everybody that works at the drive up and it is jsut easy to go in, cash a check, and maybe joke with the loan officer or something.
By far, credit unions are easier to get loans from than banks, unless it is a local bank. Nationally known banks (such as Wells Fargo and US Bank) are especially a pain in the you know what as far as getting loans. Also, they don't pay ANY interest on a savings account anymore. |
|
| |
|
Expert
Posts: 1718
Location: Southeast Louisiana | I thought credit unions were easier, too. But, not any more. They seem to be following the same rules as all other banks now. Recently, they decided to change all of their online services. It has messed up my whole system for paying bills and their new system sucks. It doesn't pay when it says it will. They did a day long maintenance and for reasons I can't figure out, took money out of my account. A fee, but I don't know what for. No e-mail or notice telling me why, they just took it. I e-mailed them last week and have gotten no reply. That right there is unacceptable to me. I will go to the local branch and get it straightened out when I have time. But, I hate dealing with them now. If I wanted all of these changed, I'd have just switched banks! So, that's what I'm going to do now. |
|
| |
|
Elite Veteran
Posts: 963
Location: Deep in the heart of Texas. | Might just be the credit union you are with. I had nothing but good luck with the credit union I was with when I lived in San Antonio only reason I am not with them now is because we don't have one local. |
|
| |
|
"Heck's Coming With Me"
Posts: 10797
Location: Kansas | Stay away from Bank of America. They're full of costly tricks. The big banner across the front of their bank that said Free Checking really meant we will drain your bank account with every stupid fee we can think of. When I called them on it and said I was going to close out my (new) account they said "sure" that will be a $25 close-out fee. I just took all my money out in cash an left them no opportunity to steal that fee.
|
|
| |
|
 Lady Di
Posts: 21556
Location: Oklahoma | Frodo - 2014-11-02 9:25 AM
Stay away from Bank of America. They're full of costly tricks. The big banner across the front of their bank that said Free Checking really meant we will drain your bank account with every stupid fee we can think of. When I called them on it and said I was going to close out my (new) account they said "sure" that will be a $25 close-out fee. I just took all my money out in cash an left them no opportunity to steal that fee.
Wells Fargo does the same stuff. I bank at a local bank and love it. I know almost everyone in there personally, and they take care of me if I have a problem. If there was no other choice but the big banks like Wells Fargo, BOA, or Chase, I'd just stick it in a can. lol |
|
| |
|
Total Germophobe
Posts: 6443
Location: Montana | dianeguinn - 2014-11-02 8:51 AM Frodo - 2014-11-02 9:25 AM Stay away from Bank of America. They're full of costly tricks. The big banner across the front of their bank that said Free Checking really meant we will drain your bank account with every stupid fee we can think of. When I called them on it and said I was going to close out my (new) account they said "sure" that will be a $25 close-out fee. I just took all my money out in cash an left them no opportunity to steal that fee.
Wells Fargo does the same stuff. I bank at a local bank and love it. I know almost everyone in there personally, and they take care of me if I have a problem. If there was no other choice but the big banks like Wells Fargo, BOA, or Chase, I'd just stick it in a can. lol
Wells Fargo is one of the worst! They are who I switched from to a credit union. Just shop around for different banks and credit unions in your area and find one that fits your needs.  |
|
| |
|
  Playing the Waiting Game
Posts: 2304
| If your in Oklahoma Arvest is a good bank... and if you get a home loan they DON't sell the mortgage.. A lot of the large banks will sell the mortgages and is a pain to keep up with WHO you owe money too. |
|
| |
|
Expert
Posts: 1718
Location: Southeast Louisiana | suzy2qtee - 2014-11-02 3:18 PM
If your in Oklahoma Arvest is a good bank... and if you get a home loan they DON't sell the mortgage.. A lot of the large banks will sell the mortgages and is a pain to keep up with WHO you owe money too.
I wish we had one here that wouldn't sell the mortgage! I can't find one around me, tho. I'm in southeast Louisiana. |
|
| |
|
Expert
Posts: 1718
Location: Southeast Louisiana | mtcanchazer - 2014-11-02 11:22 AM
dianeguinn - 2014-11-02 8:51 AM Frodo - 2014-11-02 9:25 AM Stay away from Bank of America. They're full of costly tricks. The big banner across the front of their bank that said Free Checking really meant we will drain your bank account with every stupid fee we can think of. When I called them on it and said I was going to close out my (new) account they said "sure" that will be a $25 close-out fee. I just took all my money out in cash an left them no opportunity to steal that fee.
Wells Fargo does the same stuff. I bank at a local bank and love it. I know almost everyone in there personally, and they take care of me if I have a problem. If there was no other choice but the big banks like Wells Fargo, BOA, or Chase, I'd just stick it in a can. lol
I definitely don't want to go with a big chain store type bank.
Lately, my credit union seems to be acting just like them with fees and such. They used to be awesome! Now... not so much. |
|
| |
|
Industrial Srength Barrel Racer
Posts: 7268
| Don't go with Meritrust Credit Union if there is one near - they are AWFUL anymore. I got an OVERDRAFT because my SAVINGS account dipped below a minimum amount - 1) I didn't even KNOW there WAS a minimum amount and 2) I HAD $1500 in my checking account, why didn't they just transfer that money and let me know??? THEN, last Friday, I had a notice that I had missed a car payment - payment of $14,000!! -1) my payments are AUTOMATIC and 2) that amount was for the whole balance of the loan! I.AM.NOT.IMPRESSED.!! |
|
| |
|
 I hate cooking and cleaning
Posts: 3314
Location: Jersey Girl | I would choose based on convenience and what fees they charge. What is minimum balance for monthly service fee, do they charge to use ATM etc..... |
|
| |
|
Married to a Louie Lover
Posts: 3303
| We move quite a bit so I've switched around quite a bit.
Mostly we just ask co-workers who they are with and their experience. We went with a medium sized national bank when we moved out here originally because the locations were convenient, ended up closing the accounts after we had rude service on more than one occasion.
The small state bank we were with recently got shut down by the FDIC and bought by a larger regional bank - so far so good. The regional bank absorbed all the locations and employee's so not much as changed as of yet. I'm miffed my paycheck is no longer dropping into my account early - but maybe that's why the state bank got shut down too.
I do still have a joint account with my hometown credit union with my mom. Have had it since I was born, it's nice to have in case I need to send money or she needs to give me some, we both have checks. I also do my vehicle loans through them. |
|
| |
|
 Baby Blue's
Posts: 7306
Location: Texas | Frodo - 2014-11-02 9:25 AM Stay away from Bank of America. They're full of costly tricks. The big banner across the front of their bank that said Free Checking really meant we will drain your bank account with every stupid fee we can think of. When I called them on it and said I was going to close out my (new) account they said "sure" that will be a $25 close-out fee. I just took all my money out in cash an left them no opportunity to steal that fee.
I'd watch this...just because you don't have money in the account doesn't mean that you don't still "owe" the fee. And they rack up. For instance, they'll charge you the $25 fee, there won't be any money, so then they'll charge you a $50 overdraft fee. THEN, the account isn't closed so you get a monthly fee (most "free" checking accounts require a direct deposit to be free) which each month comes with an overdraft fee. Good ole Bank of America did this to my husband when we switched accounts and it went on his credit. We ended up having to pay about $1,000 and WE NEVER DID ANYTHING TO INCUR THE COST! So frustrating. |
|
| |
|
 "Special"
Posts: 2364
Location: in the middle of backwoods iowa | I use a small town local bank. Love it better than the big guys! Heck all the workers live within 6 blocks of my house but one. I won't switch anytime soon!! |
|
| |
|
 Neat Freak
Posts: 11216
Location: Wonderful Wyoming | Credit Unions are still great, I think you just have to find the right one. I have been with the same one since I was in HS. I was able to be a member because my dad worked for the UP Railroad. They are now 3 1/2 hrs from me, but we still bank with them. I can call over the phone and get loans and even though they are not the least bit agriculture related, they give us loads on those things. I rarely go there in person, but when I do a couple times a year, they know me. We have tried some other banks, but just always go back to the majority of our business with the credit union. |
|
| |
|
Unable to Live Without Chocolate or Coffee
Posts: 1849
| I like local banks. I've always been with a local bank and always been happy. |
|
| |
|
The Resident Destroyer of Liberal Logic
Location: PNW | bocephus's mama - 2014-11-03 8:34 AM
Frodo - 2014-11-02 9:25 AM Stay away from Bank of America. They're full of costly tricks. The big banner across the front of their bank that said Free Checking really meant we will drain your bank account with every stupid fee we can think of. When I called them on it and said I was going to close out my (new) account they said "sure" that will be a $25 close-out fee. I just took all my money out in cash an left them no opportunity to steal that fee.
I'd watch this...just because you don't have money in the account doesn't mean that you don't still "owe" the fee. And they rack up. For instance, they'll charge you the $25 fee, there won't be any money, so then they'll charge you a $50 overdraft fee. THEN, the account isn't closed so you get a monthly fee (most "free" checking accounts require a direct deposit to be free) which each month comes with an overdraft fee. Good ole Bank of America did this to my husband when we switched accounts and it went on his credit. We ended up having to pay about $1,000 and WE NEVER DID ANYTHING TO INCUR THE COST! So frustrating.
This!!!! I ended up "owing" Wells Fargo for this EXACT reason. Came out to about $650 or so. |
|
| |
|
Expert
Posts: 1718
Location: Southeast Louisiana | svincent - 2014-11-03 8:52 PM
bocephus's mama - 2014-11-03 8:34 AM
Frodo - 2014-11-02 9:25 AM Stay away from Bank of America. They're full of costly tricks. The big banner across the front of their bank that said Free Checking really meant we will drain your bank account with every stupid fee we can think of. When I called them on it and said I was going to close out my (new) account they said "sure" that will be a $25 close-out fee. I just took all my money out in cash an left them no opportunity to steal that fee.
I'd watch this...just because you don't have money in the account doesn't mean that you don't still "owe" the fee. And they rack up. For instance, they'll charge you the $25 fee, there won't be any money, so then they'll charge you a $50 overdraft fee. THEN, the account isn't closed so you get a monthly fee (most "free" checking accounts require a direct deposit to be free) which each month comes with an overdraft fee. Good ole Bank of America did this to my husband when we switched accounts and it went on his credit. We ended up having to pay about $1,000 and WE NEVER DID ANYTHING TO INCUR THE COST! So frustrating.
This!!!! I ended up "owing" Wells Fargo for this EXACT reason. Came out to about $650 or so.
WOW! You got robbed by your bank!
It's amazing they get away with that stuff!
|
|
| |
|
Expert
Posts: 1718
Location: Southeast Louisiana | fulltiltfilly - 2014-11-03 6:11 AM
I would choose based on convenience and what fees they charge. What is minimum balance for monthly service fee, do they charge to use ATM etc.....
Thanks! I'll start with that list of questions.
I want to go with a smaller hometown bank, but I think all of the ones near me pretty much act the same as the bigger banks with selling the mortgages and all. |
|
| |
|
Industrial Srength Barrel Racer
Posts: 7268
| Nita - 2014-11-03 9:59 PM svincent - 2014-11-03 8:52 PM bocephus's mama - 2014-11-03 8:34 AM Frodo - 2014-11-02 9:25 AM Stay away from Bank of America. They're full of costly tricks. The big banner across the front of their bank that said Free Checking really meant we will drain your bank account with every stupid fee we can think of. When I called them on it and said I was going to close out my (new) account they said "sure" that will be a $25 close-out fee. I just took all my money out in cash an left them no opportunity to steal that fee.
I'd watch this...just because you don't have money in the account doesn't mean that you don't still "owe" the fee. And they rack up. For instance, they'll charge you the $25 fee, there won't be any money, so then they'll charge you a $50 overdraft fee. THEN, the account isn't closed so you get a monthly fee (most "free" checking accounts require a direct deposit to be free) which each month comes with an overdraft fee. Good ole Bank of America did this to my husband when we switched accounts and it went on his credit. We ended up having to pay about $1,000 and WE NEVER DID ANYTHING TO INCUR THE COST! So frustrating. This!!!! I ended up "owing" Wells Fargo for this EXACT reason. Came out to about $650 or so. WOW! You got robbed by your bank! It's amazing they get away with that stuff!
I agree! WOW - this is craziness - doesn't even seem like it would be legal! |
|
| |
|
Expert
Posts: 1718
Location: Southeast Louisiana | Griz - 2014-11-04 5:44 AM
Nita - 2014-11-03 9:59 PM svincent - 2014-11-03 8:52 PM bocephus's mama - 2014-11-03 8:34 AM Frodo - 2014-11-02 9:25 AM Stay away from Bank of America. They're full of costly tricks. The big banner across the front of their bank that said Free Checking really meant we will drain your bank account with every stupid fee we can think of. When I called them on it and said I was going to close out my (new) account they said "sure" that will be a $25 close-out fee. I just took all my money out in cash an left them no opportunity to steal that fee.
I'd watch this...just because you don't have money in the account doesn't mean that you don't still "owe" the fee. And they rack up. For instance, they'll charge you the $25 fee, there won't be any money, so then they'll charge you a $50 overdraft fee. THEN, the account isn't closed so you get a monthly fee (most "free" checking accounts require a direct deposit to be free) which each month comes with an overdraft fee. Good ole Bank of America did this to my husband when we switched accounts and it went on his credit. We ended up having to pay about $1,000 and WE NEVER DID ANYTHING TO INCUR THE COST! So frustrating. This!!!! I ended up "owing" Wells Fargo for this EXACT reason. Came out to about $650 or so. WOW! You got robbed by your bank! It's amazing they get away with that stuff!
I'm sure it was all in the fine print somewhere. Doesn't make it right, just allowed them to legally do it. Kinda like your experience with meritrust, I know the fine print says they can call a loan at any time. But, they rarely do. Still... it's a crappy way to treat their customers. |
|
| |
OT - I want to change banks. How do you chose one?