7 ms·

Any recommendations for an alternative bank (currently with Wells Fargo)? Online-only is fine/preferred. My main use is for bill pay and debit card.

by meling 4y ago

miscaccount 4y ago
capitol one , ally
brnstz 4y ago
Ally
davidw 4y ago
Chase is big and boring and seems ok. Although, worryingly: https://twitter.com/jimcramer/status/1634222320398086145 https://twitter.com/jimcramer/status/1634222320398086145
- Frost1x 4y ago
  I wonder why people want something that isn't boring when it comes to some things like a bank in this case. I don't want hassle, I want something simple and boring that does exactly what it's always done. I don't want to think about it. If it's so boring I forget it exists but it enables my life then it's doing a fantastic job. Boring is quite good when it comes to banks. Investments, maybe you want something that isn't so boring.
bombcar 4y ago
People have reported good things about using a brokerage as a bank. Fidelity and friends have associated banks. Or use a boring credit union.
piperswe 4y ago
I've had a great experience with my local credit union (https://www.bvscu.org/ https://www.bvscu.org/) for banking and lending, your experience may vary but I think it's worth looking into local credit unions.
dieselgate 4y ago
I would recommend checking out Charles Schwab or a local credit union. I have account at Schwab (investing and general checking), local credit union (for a credit card and business checking), and Wells Fargo (because an account was opened for me as a toddler). Wells Fargo is by far the worst but I just hold minimums to prevent fees (fees having a checking account is the most rubbish thing ever) to avoid a hit to credit score. Schwab has a good mobile app and website, great customer service, and offers great checking accounts (full atm reimbursements and no fee international, no minimums to open an account). I have found the Chase app to be pretty poor. Just some data points and I’m speaking about what works for me. Super happy I went to Schwab but do your own research if desired
- TedDoesntTalk 4y ago
  I’ve read that Schwab checking has NO fees. If you overdraw, the check/draft doesn’t clear and you don’t pay any fees to Schwab.
  - dieselgate 4y ago
    Wasn’t sure on this but according o NerdWallet Schwab will not charge an overdraft fee if they’re able to transfer funds from a savings or brokerage account. Not sure about specifics. Schwab doesn’t have anything obvious on their site about overdraft but I’ve never paid any fees to them for anything https://www.nerdwallet.com/article/banking/overdraft-fees-what-banks-charge https://www.nerdwallet.com/article/banking/overdraft-fees-wh...
    - KennyBlanken 4y ago
      "Pull from another account" is common but also potentially very dangerous if you intentionally don't keep a lot of funds in your checking/debit account to limit the damage someone can do with a fake check or your debit card.
- rationalist 4y ago
  Is your only Wells Fargo account, a checking account? I didn't think checking accounts had any impacts on credit scores? Or do you have a credit card with them?
exabrial 4y ago
Ally? Seems good enough
thepasswordis 4y ago
If your net worth is high enough, then most banks offer a private banking service which is night and day different than what most consumers are getting.
- bovermyer 4y ago
  What's the cutoff for that, usually? $5,000,000 USD?
  - thepasswordis 4y ago
    No, it’s like $500,000. I’m sorry I said net worth but I meant total amount deposited/invested.
altmind 4y ago
Discover bank?
KennyBlanken 4y ago
Your local credit union. There's a greater chance of your money staying in and supporting your community...versus probably not even staying in the country. Policies are driven by needs of members, not investors/shareholders. You have a much "louder" voice about policies, offerings, etc - possibly even able to attend board meetings, for example. Despite you saying "online only is preferred", it's really nice to be able to, when you have a problem, be able to walk into your local branch to familiar faces and get help by people who remember you and give a shit about you. At a prior CU I was on a first-name basis with the assistant manager and they would do things like clear checks faster, waive an occasional fee, etc.
- Uvix 4y ago
  If my local CU had competitive interest rates I would stay there. But their best savings accounts are still only a pitiful 0.16% interest. I'm in the process of moving most of my money out of there.
deleted 4y ago
[deleted]

Any recommendations for an alternative bank (currently with Wells Fargo)? Online-only is fine/preferred. My main use is for bill pay and debit card.

by meling 4y ago

Any recommendations for an alternative bank (currently with Wells Fargo)? Online-only is fine/preferred. My main use is for bill pay and debit card.

miscaccount 4y ago

capitol one , ally

brnstz 4y ago

Ally

davidw 4y ago

Chase is big and boring and seems ok. Although, worryingly: https://twitter.com/jimcramer/status/1634222320398086145 https://twitter.com/jimcramer/status/1634222320398086145

Frost1x 4y ago
I wonder why people want something that isn't boring when it comes to some things like a bank in this case. I don't want hassle, I want something simple and boring that does exactly what it's always done. I don't want to think about it. If it's so boring I forget it exists but it enables my life then it's doing a fantastic job. Boring is quite good when it comes to banks. Investments, maybe you want something that isn't so boring.

bombcar 4y ago

People have reported good things about using a brokerage as a bank. Fidelity and friends have associated banks. Or use a boring credit union.

piperswe 4y ago

I've had a great experience with my local credit union (https://www.bvscu.org/ https://www.bvscu.org/) for banking and lending, your experience may vary but I think it's worth looking into local credit unions.

dieselgate 4y ago

I would recommend checking out Charles Schwab or a local credit union. I have account at Schwab (investing and general checking), local credit union (for a credit card and business checking), and Wells Fargo (because an account was opened for me as a toddler). Wells Fargo is by far the worst but I just hold minimums to prevent fees (fees having a checking account is the most rubbish thing ever) to avoid a hit to credit score. Schwab has a good mobile app and website, great customer service, and offers great checking accounts (full atm reimbursements and no fee international, no minimums to open an account). I have found the Chase app to be pretty poor. Just some data points and I’m speaking about what works for me. Super happy I went to Schwab but do your own research if desired

TedDoesntTalk 4y ago
I’ve read that Schwab checking has NO fees. If you overdraw, the check/draft doesn’t clear and you don’t pay any fees to Schwab.
- dieselgate 4y ago
  Wasn’t sure on this but according o NerdWallet Schwab will not charge an overdraft fee if they’re able to transfer funds from a savings or brokerage account. Not sure about specifics. Schwab doesn’t have anything obvious on their site about overdraft but I’ve never paid any fees to them for anything https://www.nerdwallet.com/article/banking/overdraft-fees-what-banks-charge https://www.nerdwallet.com/article/banking/overdraft-fees-wh...
  - KennyBlanken 4y ago
    "Pull from another account" is common but also potentially very dangerous if you intentionally don't keep a lot of funds in your checking/debit account to limit the damage someone can do with a fake check or your debit card.
rationalist 4y ago
Is your only Wells Fargo account, a checking account? I didn't think checking accounts had any impacts on credit scores? Or do you have a credit card with them?

exabrial 4y ago

Ally? Seems good enough

thepasswordis 4y ago

If your net worth is high enough, then most banks offer a private banking service which is night and day different than what most consumers are getting.

bovermyer 4y ago
What's the cutoff for that, usually? $5,000,000 USD?
- thepasswordis 4y ago
  No, it’s like $500,000. I’m sorry I said net worth but I meant total amount deposited/invested.

altmind 4y ago

Discover bank?

KennyBlanken 4y ago

Your local credit union. There's a greater chance of your money staying in and supporting your community...versus probably not even staying in the country. Policies are driven by needs of members, not investors/shareholders. You have a much "louder" voice about policies, offerings, etc - possibly even able to attend board meetings, for example. Despite you saying "online only is preferred", it's really nice to be able to, when you have a problem, be able to walk into your local branch to familiar faces and get help by people who remember you and give a shit about you. At a prior CU I was on a first-name basis with the assistant manager and they would do things like clear checks faster, waive an occasional fee, etc.

Uvix 4y ago
If my local CU had competitive interest rates I would stay there. But their best savings accounts are still only a pitiful 0.16% interest. I'm in the process of moving most of my money out of there.

deleted 4y ago

[deleted]