Best bank for a newly employed plebeian?

Drez

So I want to open a proper checking/savings account. I'm in NYC so I have many options - Chase, Citibank, BoA, WaMu, the guy on the corner with the fine leather jackets,, etc. I've had Chase before and I hated hem, but I recognize things can change.

Amy advice? Also, I want to avoid all that overdraft bullshit if possible.

Bowen

Obligatory credit union plug here.

WaMu is owned by chase now, so keep that in mind. Citibank is probably the least retarded of those choices. My friends mentioned MCU.

Do you like to travel a lot Drez? Bank of America or Wells Fargo might be better choices. MCU seems like a solid choice on the credit union front (lots of credit unions refund ATM fees too).

dispatch.o

I like USBank. Had em all my life, never had a problem, always been helpful when I go into the branch offices and I've never had ridiculous charges or fees show up. Their Online Bill Pay is pretty organized and from what I have seen of some others, much easier and more useful than most.

Bowen

http://upload.wikimedia.org/wikipedia/en/7/75/USBankFootprint.png

Doesn't look like there's any coverage in NY. Looks like a great bank though.

Six

Most of my banking is done through a credit union, but I also keep a Fidelity cash management account open for a lot of day to day stuff. They'll reimburse all ATM fees, so every ATM is free. Chase, for instance, will charge you $2 to use another ATM on top of that ATM's fee. Fidelity will instead immediately reimburse you the fee you got charged. Their mobile app also deposits checks, but unlike Chase and other banks, the daily limit is much higher. With chase you can't remote deposit any check over $2000, which is annoying. Fidelity's limit is $15,000, I believe.

Fidelity's cash management accounts are actually run by UMB Bank in Utah, but Fidelity has handled any customer service issues I've had and it's always been easy to get someone on the phone.

Deebaser

Right now I'm using Chase and TD. Go with Chase, imo. If you ever need money, there's a branch or a duane reade within two blocks.

Drez

Oh yeah I heard about TD.

DisruptedCapitalist

I use Charles Schwab online banking. It's great because they refund all ATM fees, plus (at least when I opened it) it had good interest rates on checking.

The downside is that it's really geared towards investment accounts and if you don't set up one, it's kinda annoying to use their online interface.

illig

If you're a big cash user, or check depositor, then go with chase. They have ATMs in every Duane Reade so they're everywhere. BofA has a small ATM network, and Citi has a middling one in NYC.

Deebaser

TD is really only good because they'll mail out physical official bank checks for free. Chase is really the best though if you ever need cash.

On the flip side though, Syndalis and I now have Square, so people's "Oh, I don't have any cash on me excuses" will no longer fly

minirhyder

I'm a fan of TD. They're not that rare in NYC.

MushroomStick

Go with whichever bank has the most atms in your area and then when you have enough money to think about savings accounts and stuff, look into credit unions.

Artereis

Related to any service members? USAA is great.

Deebaser

minirhyder wrote:

I'm a fan of TD. They're not that rare in NYC.

True, but they aren't nearly as ubiquitous as Chase. Remember Chase has a lot more branches and an ATM in every Duane Reade.

Honestly though, both have done alright by me.

CptKemzik

Actually since USAA was brought up, it needs to be mentioned that USAA's banking products are now open to anyone - no service/family relation required (specific investment and their insurance stuff still has that restriction however). As far as online banking and dealing with staff on phone goes, they're pretty dang fantastic. Additionally you can deposit checks with a smartphone/scanner/local UPS store now. They reimburse up to $15 in atm fees per month if you need cash, checking is free. The one thing that is still an issue with them is depositing straight cash. Unless you live in Texas (which is not your case obviously), where you can use their new line of atms that take cash deposits, I still think you're SOL on that front.

Really with them being an option now for general consumers I see no reason to use any of the "fuck you," big banks unless they have specific products/features that you would use/need often.

Feral

Keep in mind that a lot of credit unions are part of credit union networks, where you can use any ATM or branch in the network to do your banking, including making cash or check deposits.

This does result in longer hold times for check deposits, though, by about one business day in my experience.

Drez

I...ended up signing on with Chase.

I appreciate everyone's advice. I read through everyone's posts, and then I did some google mapping and I looked at (a) my current location, (b) my new location (my team at work is relocating to another city/state on Monday), and (c) my home. Chase was the closest in all three situations.

that said, I wasn't 100% convinced. I walked in to the closest branch and they sold the shit out of me. I was interested in their lowest tier consumer plan and they treated me like I was High King of Tittytown. Which worked. So I signed on with them.

Ah well.

Thanks everyone