What type of institution is your primary bank?

[ken1706]

I got the idea for this poll during the Bank Transfer Day. What type of institution is your primary bank?

New bank fee may be one reason for people to switch from a megabank to a credit union. But it's not an easy decision to move your primary checking account.

[Nightfly]

I've used credit unions exclusively for nearly ten years now - long before it was "fashionable" to do so. There is no need to use a big bank; and those that complain about the fees while still keeping accounts with BofA, Wells Fargo, and the like have only themselves to blame. You don't do business with any company that treats you badly - and banks should be no exception to this rule.

[disneysteve]

There is no need to use a big bank; and those that complain about the fees while still keeping accounts with BofA, Wells Fargo, and the like have only themselves to blame

I read yesterday that 77% of bank fees are overdraft fees. That means that 77% of fees are customer-generated, not bank-generated. So nobody really has any basis for getting upset with the banks for those fees. They are totally avoidable by not spending more money than you have. I'm sure that some of the remaining 23% of fees are probably customer-generated too, like letting your account falling under the minimum balance.

I agree not to do business with a place that doesn't treat you well but I've never had a moment's trouble with BoA (though I do hate their new ATMs).

[graceful]

Primary banks are Chase and Citibank. Can't get any bigger than those.

My parents' account and most of our business accounts are at Chase and have been for the last 30 years when they were Chemical Bank.

My personal accounts before I got married (15 years ago) were there also. My DH's accounts were at Citibank. When we got married, we just added each other to the accounts and left both open.

We keep enough in our personal accounts to avoid any fees. So, the fees don't bother us. They are convenient since both have branches near home and work and long hours. I have to bank for work, so it is easy to bank there for myself at the same time. So, no need to move my accounts.

Now if I had to open small accounts with low balances (i.e. for the kids), I'd definitey AVOID both because it just doesn't make sense.

[Petunia 100]

I get a much better deal at Wells Fargo than I would at my credit union. There is no universal "best"; look at your needs and your options and choose what works best for you.