Who should I bank with and why?

Airbnb zZ2ttB
May 4 26 Comments

So I currently bank with BOA and Wells Fargo. But the interest rate is just so depressingly low. I'm thinking of switching to an online account. If I follow through, is there any reason why I should keep my traditional accounts (BOA and Wells Fargo)? Eg. Foreign travel? Credit Card?

If you guys have any recommendations for online banks I would appreciate that as well (I'm in the Bay Area)!

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TOP 26 Comments
  • Any Credit Union is better than those.
    May 4 0
  • Oracle wJnl24
    Ally, Goldman sachs Marcus, HSBC
    They all give 2.25+ %APR
    May 4 1
    • Lockheed Martin gdbsk6d
      2nd on Ally. Fantastic bank
      May 4
  • Google AI Snot
    Discover. Open an account in 10 mins, online or on the phone. Start earning 2.10%, and the interest rate keeps on increasing.
    May 4 0
  • Capital One c1Lambda
    Capital One because our money market account is solid with good returns and can be liquidated into your Capital One checking account instantly rather then a few days.
    May 4 0
  • FedEx JCMt22
    Navy Federal- thank me later
    May 4 3
    • New bzRF81
      Absolutely second this! But OP needs a military affiliation.
      May 4
    • Amazon Yolo!
      Do you need to be blood relative?
      May 4
    • New bzRF81
      I think so, except if you have a roommate who is already a member.

      Check this out this should give you a binary answer:

      https://www.navyfederal.org/membership/become-a-member

      They scrutinize all apps thorougly, people these days get frozen and accounts shut down later if the membership was found to be not eligible. Not sure why they do this tho. May be the effing banks are being pia?!

      For roommates I think you need both your names on the utility bill etc...

      Used to be other ways, all removed now.

      NFCU treats you like a king - best rates, best tech & mobile app, knowledgeable reps, fantastic service overall, you can do everything online... If they were a full service bank, BofA, Chase and Wells will all have to eat shit and die.

      PenFed and NASA are lower rung with lot of flexibility in eligibility req's but they both are a pain in the fucking ass.

      If NFCU = Business Class, PenFed and NASA = Cargo Class

      People should vote for someone who wants to remove charter based restrictions for Credit Unions so bank lobby can no longer blackmail them.
      May 4
  • New cousin
    Why worry about interest on a savings? Just keep an emergency fund in there and invest the rest
    May 4 0
  • Microsoft Brazuka
    Wait, you actually leave money laying around (not in an actual investment account) in your bank? Savings account is for poor people.
    May 4 3
    • Microsoft StackπŸ–•flo
      Wtf are you talking about? You have zero cash holdings? That is moronic, enjoy losing your home next major recession while I buy the dip and outlast it.
      May 5
    • Microsoft Brazuka
      Only emergency in cash. All rest invested in stocks and bonds. I'm not planning to withdrawal in the next 20 years. If there's a recession I'll happily ride it along. Btw, I rent. Go ahead with your doomsday plans.
      May 5
    • Microsoft StackπŸ–•flo
      So that emergency cash... its not in a savings account?
      May 6
  • New bzRF81
    Check these out:

    Navy Federal (already mentioned in another comment).

    If NFCU not possible then:

    Savings:
    Ally, Citizens Access, Marcus, PenFed, Alliant

    Checking:
    Chase

    Cards:
    Amex, Wells Fargo Propel, Uber Visa, BofA Premier rewards, Alliant Visa Siggy, Cap1 (for no foreign txn fee)

    Check out: depositaccounts.com and doctorofcredit.com
    May 4 2
    • Uber SDDD
      nit: uber visa twice
      May 4
    • New bzRF81
      Corrected... But don't feel too good about it, lol... credit goes to Barclays πŸ™‚
      May 4
  • Checking in credit union, savings online.
    May 4 0
  • Hertz !XXX!
    Chase for day to day banking & Goldman Sachs Marcus for saving and CD.
    May 4 0
  • Charter eDyI05
    I have been with WF since I was 16 and I am 49 also worked there and know how serious they are about customers security
    May 8 1
    • Uber Efh43
      WF == Wells Fargo? Their rates are awful
      4d
  • Gen!x ixptl12
    Iron Bank of Braavos
    May 5 0
  • Expedia sapnu_puas
    Chase, Barcleys, GS Marcus have interest rates on savings > 2%.
    May 4 0
  • Microsoft imafish
    You should bank with bitcoin 🀣
    May 4 0
  • Square GAKm75
    First Republic. They're primarily a wealth management firm so they treat their clients very well. They offer brick and mortar level service at the cost of most e-banks. You only need to maintain a $3,500 balance to get ATM fee reimbursements world wide.
    May 4 0
  • Qualcomm dynasty001
    Ally bank
    May 4 0

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