Who Do You Bank With?

[Flash]

I am interested in switching banks, because I have been watching rates and I know I am getting horrible APY's through Wells Fargo. Wells Fargo is very nice to me in person and they are easy to use, but the rates are horrible.
I'm looking for suggestions, who you bank with and how do you like it?
I am leaning towards something online like ING Direct or possibly HSBC Direct. ING Direct seems to consistently offer the better APY's in all areas. I am not sure about the extra work involved to use an online banking service like that. I've always banked at a brick and mortar bank. This switch might be an interesting learning experience if I get decent feedback.

 

[Locke]

My buddy has some wierdo online/telephone banking thing. He hates it. I am with a credit union. Thats where it's at, you know.

 

[Defiant]

Check with your local banks. Do not pay for checking. If your parents are over 50, get them to sign up with you on an account of theirs so you can use the 50+ benefits. My bank pays interest on my checking account, free checks, no charges, no minimums. All banks are on the internaweb anymore, so who you're with really doesn't matter much. Some give you additional benefits if you use direct deposit.

 

[SinaiTSi]

I just use the local bank here, because it's what my parent's use and I like it just fine even though I don't have tons of experience with different banks and such. I know my older brother uses Wachovia and he loves it. I know nothing about Wachovia, but he is very smart with his money so they must be pretty decent.

 

[cs82685]

Well if you're looking for a good savings account I'd say ING. But it does take time to transfer money in and out of them, so it's best to have another account for expenses.

ING is fairly easy to work with though, you just have your ING acct linked to a checking acct and whenever you want you can log in and transfer money between the two accts. (takes a few bus days to clear)

Ex. I have a checking and savings with Wachovia (I do have a minimum, but I get free checks, etc.) But last summer I realized I had 1/3 the amount of money in my ING savings compared to my Wachovia savings yet monthly interest was 3 times as much from the ING acct than the wachovia acct. Needless to say when I realized that, I left just the minimum in my wachovia and the rest went to ING. Personally, I don't need the savings account I have at wachovia so eventually I will just get rid of it and only hold a checking account with them where I don't need a minimum.

Since you seem to be looking strictly for a good savings I'd say have a checking at your local bank you are already a part of and open an ING acct

 

[Flash]

That exactly the response I was looking for. They say the ING account involves more work, but the trade off is a better APY.
Can you tell me if the 'more work' is a lot more work or not that much more. I think I could still use Wells Fargo, and just have that linked to an ING account and transfer funds over. What is the level of difficulty to using ING?

 

[cs82685]

I think I could still use Wells Fargo, and just have that linked to an ING account and transfer funds over.

That's exactly what you would do

They say the ING account involves more work, but the trade off is a better APY.
Can you tell me if the 'more work' is a lot more work or not that much more. What is the level of difficulty to using ING?

It's really not. I set mine up so long ago I don't remember exactly how I set it up, but to link from one account to another all you had to do was send a check for at least one dollar to ING from the account you want it linked to. That amount is then deposited in your ING account and the accounts will be linked. It's fairly simple once it's setup though, to transfer money its just a few clicks like it would be if you had two accounts with the same bank. I do not know if you can link your ING account to a savings account however, so if you don't have a checking you may have to look into that

 

[Flash]

That's exactly what you would do



It's really not. I set mine up so long ago I don't remember exactly how I set it up, but to link from one account to another all you had to do was send a check for at least one dollar to ING from the account you want it linked to. That amount is then deposited in your ING account and the accounts will be linked. It's fairly simple once it's setup though, to transfer money its just a few clicks like it would be if you had two accounts with the same bank. I do not know if you can link your ING account to a savings account however, so if you don't have a checking you may have to look into that

Right now I do have checking, that is the only way I buy anything. I think I would prefer to use my Wells Fargo for checking, but ING for savings. I heard using ING for checking isn't very fluid because of the time it takes to transfer funds, not instant, that is why its better for savings.

 

[cs82685]

Right now I do have checking, that is the only way I buy anything. I think I would prefer to use my Wells Fargo for checking, but ING for savings. I heard using ING for checking isn't very fluid because of the time it takes to transfer funds, not instant, that is why its better for savings.

Honestly, I did not know ING even offered checking

 

[Flash]

Oh they do. They offer it all, that's why I am leaning towards them. They offer Checking, Savings, CD, Money Market.

 

[95blackGsTurbo]

HSBC for savings. Gotta love 5.5% intrest on $24k.
For checking I use a local credit union.

 

[Defiant]

Get the hell away from Wells Fargo.

 

[Flash]

Yes sir! hehehe

 

[thekellbeast]

Usaa

 

[Dream On]

I have a Bank One checking/credit card, and have an ING account. I think what I'm going to do is put the majority of my money in ING since I get no interest on my checking with Bank One, and if I ever need to buy anything, I could just use my credit card and transfer money right afterwards so I'm not late and I get the most interest as I can.