Banking options?

porsche4life · porsche4life's Garage

So with the start of my internship, I will be travelling a good deal, and not home for months at a time. I currently bank at a small bank(1 branch), wondering if I should go for a larger bank, with branches all over? I will be mostly in Brookings, SD, OKC, Little Rock, Dallas, Houston, San Antonio, Houston, and New Orleans...

My paycheck is direct deposit, but I'm thinking I'll need a way to get some cash, can't put everything on a credit/debit card.

What say the braintrust?

Racerbvd · Racerbvd's Garage

Get a major national account like Wells Fargo, a bank that is in every town you will be in and get a debit card with them. That way you can always get cash..

Good Luck..

porsche4life · porsche4life's Garage

I'm having a problem finding a bank that has branches in every state. No wells fargo in SD, and I will be living more off my own dime there, as I won't be on the road, less expense account stuff....

gprsh924 · 03-13-2012, 05:01 PM

Get a Chase account. Then get a Chase Freedom Card Visa and start earning the maximum cash back of any credit card on the market. And I disagree, you can put about 98% of your purchases on a cc.

aigel · aigel's Garage

I would only bank with Credit Unions.. Any decent size Credit Union is part of a large group which shares fee-less ATM and personal banking assistance nationwide. They usually give you a book with nationwide directory or you can look it up on their website. If all else fails, their ATM card will work anywhere for a fee and the rest can be done online.

G

74-911 · 03-13-2012, 06:15 PM

USAA Bank.

Rick Lee · Rick Lee's Garage

Quote:

Originally Posted by aigel

I would only bank with Credit Unions.. Any decent size Credit Union is part of a large group which shares fee-less ATM and personal banking assistance nationwide. They usually give you a book with nationwide directory or you can look it up on their website. If all else fails, their ATM card will work anywhere for a fee and the rest can be done online.

G

Ditto. But I only get cash at the grocery store because there are no fees when you pay with a debit card and take another $100 cash with it. I really don't understand why everyone doesn't use a credit union.

Porsche-O-Phile · Porsche-O-Phile's Garage

Quote:

Originally Posted by aigel

I would only bank with Credit Unions.. Any decent size Credit Union is part of a large group which shares fee-less ATM and personal banking assistance nationwide. They usually give you a book with nationwide directory or you can look it up on their website. If all else fails, their ATM card will work anywhere for a fee and the rest can be done online.

G

+1,000

I would never, ever, EVER go back to a "big bank" like Citi, Chase, Wells or (shudder) B of A. BTDT - join a credit union and actually get treated like a human being and not a milk cow. Those guys all follow the "Blockbuster Video" model of customer service - in other words they treat you like crap and expect to be able to screw you on fees to line their pockets with your money. You've been forewarned.

My credit union debit cards work everywhere - even internationally. Everything else I do online. I can't think of the last time I used cash for anything - personally I hate the stuff (filthy, inconvenient, etc.)

sc_rufctr · 03-14-2012, 01:16 AM

Citibank.

widgeon13 · 03-14-2012, 03:16 AM

Quote:

Originally Posted by 74-911

usaa bank.

+1

Chocaholic · 03-14-2012, 03:34 AM

Been with B of A for my whole life. Never pay a fee, there are branches literally everywhere and have never had an issue in 25 years. Be responsible with your money and it's a great solution.

Porsche-O-Phile · Porsche-O-Phile's Garage

I guess YMMV. I opened a B of A account for exactly one week when I was in graduate school. It took me that long to figure out that the "free" checking account I'd signed up for wasn't free and that they were flat-out raping me to use my ATM/debit card. Yanked all my money out and closed the account after seven days. Never again.

GH85Carrera · GH85Carrera's Garage

Sid, check out USAA bank or Tinker Credit Union. Both have free on line banking. You can pay any bill on-line for no fee.

How many checks will you ever write? I use my debit card for 95% of my spending. I can get cash for no fee at a ATM.

porsche4life · porsche4life's Garage

Umm, don't I have to have a pretty close relative that has served to get in with usaa?

Bill Verburg · Bill Verburg's Garage

Fidelity has both Brokerage and Cash Management accounts. The latter works like a savings/checking accounts, I have both, don't know if it's necessary or not but the Cash Management account sounds like what you are looking for.

All Fidelity ATM withdrawal fees will be waived for your Fidelity® Cash Management Account. In addition, your Fidelity® Cash Management Account will automatically be reimbursed for all ATM fees charged by other institutions while using a Fidelity Visa® Gold Check Card linked to your Fidelity® Cash Management Account at any ATM displaying the Visa®, Plus® or Star® logos. The reimbursement will be credited to the Fidelity® Cash Management Account the same day the ATM fee is debited from the account

On line bill paying etc is also offered,

It's fee free and easy to use and available virtually everywhere.

I'm pretty sure other firms like Schwab offere similar services, it's just that I'm familiar w/ Fidelity and after using it for the last 4 yrs am very pleased.

Porsche-O-Phile · Porsche-O-Phile's Garage

Fidelity isn't bad for investment accounts (I used to have them) but I'm not sure about their banking side.

I did find their account management fees to be a bit on the steep side. Not so bad when the fund was returning 15% a year. Nowadays, I'd probably be a bit less okay with it...

scottmandue · 03-14-2012, 07:01 AM

You guys using credit unions... you don't get hit with ATM fees? So they send you a book of free ATM's, if you are on the road working and the closest ATM is 50 miles away tha would suck.

Rick Lee · Rick Lee's Garage

Quote:

Originally Posted by scottmandue

You guys using credit unions... you don't get hit with ATM fees? So they send you a book of free ATM's, if you are on the road working and the closest ATM is 50 miles away tha would suck.

I can use any of the share branch ATMs as often as I want. My bank is based in Wash. DC and their closest branch is 2500 miles away. But they have share branches all over the place. I use ATM's maybe twice a year in the US, but all the time when abroad. In the US I get all cash while paying with a debit card at the grocery store. Takes me about a month to burn through $100-200 cash, as I cc everything for the points. While on business travel, I really credit card everything. While abroad I do get hit with the 3% foreign transaction fee at ATMs, but I have a credit card that waives all those for cc purchases abroad.

krystar · 03-14-2012, 07:29 AM

unless you need to physically go to the bank to deposit paper checks and/or make cashiers checks or do "account" stuff, i don't see why you need to have a local branch

direct deposit check to account.
pay everything with credit card.
link credit card autopayment to checking account.

even though i'm with citi. i rarely go to the physical bank building especially now with cell phone check deposits. citi ATM's are in 7elevens so they're everywhere

Rick Lee · Rick Lee's Garage

I haven't physically been to my bank in four years. I do it all by mail and occasionally via shared branch. I need a cashier's check about once or twice a year for vehicle or long distance gun purchases and can get that at the share branches.