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>I guess the most boring bank possible would probably be something like Chase A bank like Chase has all sorts of fees and minimums for a simple checking accoun
by vba616 4y ago
>I guess the most boring bank possible would probably be something like Chase
A bank like Chase has all sorts of fees and minimums for a simple checking account - which a normal regional bank doesn't.
What's the benefit to an a average person of banking with a subsidiary of a huge Wall Street bank? They don't even want your business. The only reason they are even offering consumer services is because of out of control empire building, like how JP Morgan bought Chase Manhattan.
You don't have to bank with a national brand name.
You don't have to pay a monthly fee for checking.
You don't have to have a monthly direct deposit.
You don't have to have a $1500 minimum balance (like with Chase).
And credit unions are fine of course, but banks have free checking too.
I wonder if there are a lot of people who think you will get food poisoning from any hamburger not made at a McDonald's.
- woodruffw 4y agoFar be it from me to defend Chase. I thought they might be a good example of a “more boring” bank in the sense that the GP meant. But I agree completely that, for many people, a small bank or credit union is a much better choice.
- abakker 4y agounless you want a website with a real set of useful features, a mobile app, and a cybersecurity audit dept. My grandmother uses a small local bank in Spokane, WA. its terrible to interact with them, and I constantly have to do so because their website is garbage and their mobile app is just a wrapper around their garbage website. OTOH, Bank of America has a good mobile app and informative website. I almost never need to interact with them to do what I need to.
- woodruffw 4y agoThis probably depends on what you're trying to get out of your bank. I currently use my bank's app, but I don't think I actually need to (the only things I do are write the occasionally check and use my debit card.)
- vba616 4y agoMost smaller businesses do not develop their own website and everything like it's 1996. There are service providers that cater to the 99% that spare them from totally reinventing the wheel. There's a company headquartered near me, that you never heard of, that as I recall basically provides a white-label e-commerce platform to small and mid-size businesses. A particularly fucked up website, I would bet is likely the product of a business that did have some in-house tech people years ago, and once they had something working, has prudently avoided redoing it from scratch.
- abakker 4y agoOh yeah - the bank in a box package from those SPs is totally real. The basic kind of stuff that is uniform across banking kinda works. Its the stuff that is specific to a particular bank that just seems to never be implemented. I have a piece of equipment that I financed through Bank of Colorado. They're not even that small a bank, but I have a different account to pay my loan every month than I have to see my balance on the loan...it is not great.
- nunez 4y agochase definitely absolutely cares about consumer banking, and they are leagues above most credit unions