Find a good credit union

US Bank has been working out good for me. No fees, no minimums.

It depends on where David lives. There are a lot of really good banks that won't screw over the customer, but some of them don't have branches on the West/East coast, or in the Southeast, etc.

Charles Schwab Bank has a pretty kick butt interest checking program.

I'm happy about the chase-wamu buyout simply because I spend months at a time working in different cities around the country. This will make banking a lot easier for me.

Just in case you missed the posting by menty666...

Find a good Credit Union!

Banks really seem to have morphed into many headed monsters who's mission in life is to liberate their customers from their money.

You can chose not to be fleeced, join a Credit Union.

National City (soon to be PNY) has a no-fee checking account. An added positive is their Points system which gives redeemable points for writing checks, paying bills, etc. I haven't tried to redeem anything yet, so I can't speak for the quality of it. I also have no idea whether PNY will keep the Points program after the "merger" is complete. I have had no problems whatsoever with the bank (yet).

Although it pains me greatly to say this, Bank of America might actually be the lesser of the Prime Evils in this banking climate...

In the SF Bay Area - Mechanics Bank

Arvest Bank FTW if you live in MO, AR or OK. No fees, no minimums. Only $15 overdraft fee. Oh, it's owned by the Walton family. Think "Wal-," not "John-Boy."

Sorry to hear David had a turn for the worst with Chase.

I left CitiCrooks, for Chase, once I received an offer in the mail for 125 clams if I open a direct deposit account with them.

Low & behold a month and a half later, there were my money. Here in nYc, Chase/WAmU, are all over the place so it's hard to miss them. As Citi disappears little by little.

My only gripe with Chase is the double charging I get when I use a non-Chase ATM. Chase will charge me $2 and the ATM it's self would charge me another 2-3 bones. So I just walk around with cash more often, or make sure to hit up a Chase/MuMu.

To me, the message would be "We no longer really value you as a customer, go ahead and bank some place else."

I would take them up on it.

@Riff-Raff: National City is okay. The points system is pretty good. I redeemed some a couple weeks ago and got a $10 gift card from BB. It came as a regular card. Although I have to say, and it may be just my branch, but I've noticed things dropping off the "Pending" list after being on there immediately after a debit card purchase, and then they reappear in a couple of days. I'm reading it as a way for them to try and "catch" people with low balances and charging excessive fees. Otherwise they are quite good.

@menty666: Absolutely. Penfed and Alliant are two good nationwide ones which have clauses which allow almost anyone to join (Alliant = join the PTA, Penfed = join the Military Family group listed on their website, and be prepared for a credit inquiry on your reports). Or of course, go local.

Not to be sarcastic, but just keep track of your accounts, and don't overdraft against them. Simple way to bank without the fees.

My wife and I switched to First Republic Bank about a year ago. They continue to make a profit without bogus fees by old-fashioned banking: they treat their customers well and lend money conservatively. Not only do they refund other banks' ATM fees, but our branch has comfy chairs and free cookies. Check 'em out on Yelp.

@Nick Bonczyk: Do you think stating the obvious is really helpful to anyone?

What's Really Different with Major Banks?

I've been through a few different banks in the last 5 years. Chase isn't perfect by any means, but they're not as bad as some of the others I've had occasion to use.

I've been with Chase for almost 3 years now, and although there are a few picky little things here and there, my experience with Chase has been largely positive. Certainly better than B of A, US Bank or Citi.

@menty666: Absolutely. Find one here:

[www.creditunion.coop]

Okay, everyone, GO read the Card Act in its entirety. EVERY credit card company so long as their terms of service TELLS you this, and EVERYONE is changing it, can do whatever they like.

THIS was the loophole that was intentionally left in because when I read the terms of the Card Act I noticed this before it was passed.

Funny though how the news media AND the politicians seemed to be happy seeming to pass ineffectual legislation just to look like they were doing something.

The Card Act is a sham, nothing but smoke and mirrors, in reality it's business as usual as long as the terms of service are all changed and sent to customers to ACCEPT or find a new card, now since ALL credit card companies will do this, where are we going to go?

SCAM SCAM SCAM Credit Card Act was a scam on all consumers.

@Nick Bonczyk: But that's not the point. The OP could do that, but why should the OP be given vague terms of service? What else would Chase do to him?

The first step is prevention.

I'd recommend M&I Bank if you live in Arizona, Florida, Illinois, Kansas, Minnesota, Missouri, Nevada, or Wisconsin (from their location search on mibank.com). We switched to them a couple years ago and they're large enough that they have locations everywhere I need them (Minneapolis metro area), but they're small enough that they can actually help when I call or stop by the branch.

If credit unions had more than one branch and didn't charge me for ATM usage, I'd probably recommend them as well. I just can't drive 45 minutes to do a free deposit or withdrawal.

I've had a credit union account since I was 16 years old, and have literally NEVER had a problem with them.

@menty666: That's what I did when my trusty local bank was taken over by (*barf*) Capital One. I no longer pay $6/month for the privilege of depositing my money, I have access to a network of free credit-union ATMs, and for times when I'm low on cash, I do a debit transaction with cash back at a supermarket for only 25 cents. I'd much rather pay that than be subject to a million sleazy fees.

@GreatWhiteNorth: Ditto Ditto Ditto

@Nick Bonczyk: I got screwed on this via PayPal though. I only kept about $20 in the account I have attached to PayPal (to keep from getting completely robbed). I have a CC as a "backup funding source" assigned in payPal. I bought something that was, say, $50, assuming my bank would deny it and PP would then use the CC. The bank decided to let me overdraft instead, and charged me $25 for the privilege.

@oneliketadow: The way things clear can sometimes make it complicated to avoid overdrafting even if you keep a close watch on your finances.

BB&T is good in the mid-atlantic/south.

@pecan 3.14159265: Hear Hear.

@csdiego: Agreed, I love my credit union. No more banks for me.

If he's in Washington - BECU.

@oneliketadow:

I never use the acc't withdrawal from Paypal - I always charge it to the credit card on file. Cash back FTW!

I too would like a recommendation (not a credit union, I travel enough that I'd like a major bank in addition to one). I live in Southern California, and I need a bank with no fees for checking, and no/ low fees for accessing your $ abroad. Thanks!

It sounds like what they're saying is that whether or not they'll charge you extra fees depends on how much they feel like ignoring customers that day.

I agree with the people advising the OP to leave. It's bad enough that they're saying you can't opt-out anymore but being vague about when it will or won't happen is ridiculous.

One of our local banks managed to not be swallowed up by the big banks. They are still fairly reasonable in the way they operate. If they were not around all of our accounts would be at our credit union.

@Guvmint_Cheese: I wonder if I'd be eligible now. I used to work for the state (several years ago), but found it impossible to actually USE a credit union, since I worked 8-5 and took the bus. There actually happened to be a credit union across the street from my apartment ... but it was never open when I was home. Sometimes I got lucky and was able to make it by noon on Saturday, but I wasn't home half the time or I was sleeping.

So that was lame.

Now that I have a car and therefore more time during business/bank hours (and also I work 7a-3p now), I'm thinking about looking into a credit union. So this tl;dr comment was basically to say THANKS FOR THE LINK!

@GreatWhiteNorth: The only problem with Credit Unions is that they tend to have less banks, and if you take public transportation, it can be a bitch to really use one. That's what I used to have a problem with.

@pecan 3.14159265: Seconded. When we opened our joint account earlier this year we went to BB&T and so far everything about them has been great.

@sanjsrik: This article is about a deposit account; the Card act is not relevant.

@nakedscience: I couldn't tell you the last time i walked into my bank. Only thing that might be an issue are atm's.

@nakedscience: My Penfed account has a nifty "instant deposit credit" feature (that's not the name, but it's close) where you mail paper checks to Penfed, but you tell PF beforehand what the amount is - and they credit the amt immediately. There is a limit (so direct deposit is still your best bet for paychecks), but any little paper deposits you need to make aren't a PITA at all. For me, that was the only reason I ever actually went to my local branch, so it's pretty sweet.

Or he could, you know, just not over draw.

I'm thinking it's time the large banks got shut down. The large banks are the ones raping most people with overdraft, late, and all manner of fees. They are backing most of the pay-day lending places. In short, their entire business model and profit center is less "bank" like and more "loan-shark" like.

Ditch the big banks. See what your smaller local banks and credit unions have to offer. Their customer service is RIGHT THERE, since all their clients are more localized.

If these banks (Chase, Citi, BofA, etc) are all "too big to fail", then they are just flat out too big.

@czadd: Depends on the credit union. Some are larger and have multiple branches. Shop around.

My wife and I switched to a local credit union a year ago, and could not be happier. I would point Dave in that direction.

USAA, if you are eligable. Free checking, plus they'll rebate $15/month of ATM fees other banks charge (no fee from USAA on that either). Interest accrues on the checking account, but not much.

But... Debit cards are evil. Credit cards protect the consumer far better.

Here's a crazy idea....Don't spend money you don't have. There is no excuse for overdrafts, I don't care what people say about how difficult it is to keep track because of how different things clear. Be responsible and you won't get charged a fee. Chase, or any other bank for that matter, has ever right to charge a fee if you spend more money than is in your account because they are the ones who then have to lay it out for you. Whether the charge should be approved and the bank allow you to overdraft is another story. Also, many banks give you the option of linking a savings account to your checking so that funds are automatically transferred to cover your overdraft. Take some responsibility.

@chrysrobyn:

If you use a debit card with a Visa logo, how would they even know it's a debit vs. credit card? Especially online.

CHASE SUCKS! I had a WaMu Visa and they changed all the terms including my billing cycle and due dates. Sheesh, and when I tried to explain to the rep, "I signed up with WaMu and NOT Chase because they did x,y and z, why can't the company be flexible on this" (I think that was the call about moving my bill dates back) she responded with "and that's why we had to purchase them, so deal with it." Isn't that great!?!

@neost: Yeah, that was the main issue. I don't even think that particular branch HAD an ATM at the location across the street from me. Which would have made life fun.