I'm looking for a new checking account

Broken Arrow · #1 (**permalink**) 08-16-2006, 06:06 AM

It must be accessible online! Of course, I also prefer something that gives free checks, free billpay, and links to saving accounts elsewhere.

Does anyone have any recommendations?

Anyone have any experience with WaMu?

BankAtlantic looks interesting too.

Best Bank Online looks interesting too, especially with a cash/rewards check card for groceries!

sweeps · #2 (**permalink**) 08-16-2006, 07:41 AM

What minimum balance can you afford?

How about Presidential Bank? The web site looks like it was created back in 1995, but the Checking Plus account terms are pretty good. Pays 4.5% APY. Free checks and free online bill pay. Minimum to open is $1500, minimum to avoid fees is $1000. I'm extremely tempted to switch banks myself.

Broken Arrow · #3 (**permalink**) 08-16-2006, 07:48 AM

Hmm! That is VERY interesting!

Ordinarily, I would not want to tie up my money on a checking account, but... I suppose... maybe I COULD afford that minimum... especially if it's able to earn a decent APY.

For what it's worth, Bank of Internet is offering 3.40% without a minimum balance (or $1).

WellManicuredMan · #4 (**permalink**) 08-16-2006, 09:18 PM

I use Wells Fargo and they have a good online interface. Forget about earning interest on your money though. But I only keep enough to pay bills. ATMs are everywhere. Checks aren't free though. But I write so few checks I never need to order more.

ruthie · #5 (**permalink**) 08-16-2006, 10:06 PM

Quote:

Originally Posted by Broken Arrow

Bank of Internet is offering 3.40% without a minimum balance (or $1).

But they still say "A $4.00 monthly maintenance fee is charged if the average daily balance falls below $1,000."
Presidential charges $5.00 if your balance falls below $1,000, although you do have to open an account with at least $1,500, it's not like the $1 minimum for Bank of Internet is really a great deal.

I've been thinking about Presidential myself but it seems that I would still want to have a local bank because the only way to deposit $ outside of direct deposit is through a electronic transfer from another bank or mailing in your check.

Broken Arrow · #6 (**permalink**) 08-17-2006, 04:32 AM

Quote:

Originally Posted by ruthie

I've been thinking about Presidential myself but it seems that I would still want to have a local bank because the only way to deposit $ outside of direct deposit is through a electronic transfer from another bank or mailing in your check.

That's a good point....

poundwise · #7 (**permalink**) 08-17-2006, 05:19 AM

Quote:

Originally Posted by Sweepsplayer

What minimum balance can you afford?

How about Presidential Bank? The web site looks like it was created back in 1995...

Wow. That web site is terrible.

Not a comment on the bank. Just the site. Yikes!

WellManicuredMan · #8 (**permalink**) 08-17-2006, 05:27 AM

Quote:

Originally Posted by poundwise

Wow. That web site is terrible.

Not a comment on the bank. Just the site. Yikes!

No kidding! I feel like I've gone back in time when looking at it. It says in the upper right hand corner "America's 1st Online Bank since 1995" - and they want to drive the point home by not updating their site since then too.

Looks like something a 15 year old created on GeoCities.

baselle · #9 (**permalink**) 08-17-2006, 10:34 PM

I bank with WaMu, and I have a number of online accounts linked to it - ING, PayPal, Treasury Direct. Haven't done billpay with it. About a month ago WaMu updated its site, so I couldn't get on and look for five days, and it really affected billpay.

http://************/hm5da

Haven't had any other compliants except that their interest rates are, well, crap...

getforfree · #10 (**permalink**) 08-17-2006, 10:59 PM

I have Wamu. I almost don't use paper checks. It has the billpay there. But I pay most of my bills with my cc, because I get rewards. It doesn't have any fees on free checking and don't require minimum balance or direct deposit.

Diolla · #11 (**permalink**) 08-18-2006, 04:41 AM

I use US Bank, they have free bill pay, no fee checking, no fee ATM's in fact I don't think I have paid a fee with them since I started banking with them 2 years ago. I also like the way they don't debit your account until the check clears when they have to send a paper check for a bill.

Their debit card also has a cash back feature.

I don't know if they have any branches or ATM's in your area though.

http://www.usbank.com/

Jaynen · #12 (**permalink**) 08-19-2006, 10:10 AM

Just got off the phone with B of A (business). I don't pay any fees, no minimum balance, free checks, easy sign-up, good online banking, ATMs and banks are pretty much everywhere, and customer service isn't too shabby. Now, I don't have a lot in this account at the moment; I would say use these mainstream banks for your everyday stuff and use one of those high-interest checkings for all of the check-writing, bill-pay, auto-draft, etc. That way you can let the big money sit where it needs to be and the chump change you have easy access to (ATMs and local branches).

Jaynen · #13 (**permalink**) 08-19-2006, 10:12 AM

Quote:

Originally Posted by getforfree

I have Wamu. I almost don't use paper checks. It has the billpay there. But I pay most of my bills with my cc, because I get rewards. It doesn't have any fees on free checking and don't require minimum balance or direct deposit.

This is another great idea..... then you could only write one check a month or have only one account to use bill-pay for or auto-draft or whatever