Yo bank

It’s time for a Thursday throwback. I’ve been enjoying the heck out of this little vacation and haven’t had much time in front of the computer. I’ll whip up a tasty little treat for ya tonight, so you get something fresh for Friday, but today I thought you might enjoy this post I did one year ago titled “Why do you bank with who you bank with?”

I opened up my first checking/savings account with Washington Mutual when I was 16. I loved WaMu and was not happy when Chase acquired them a couple of years ago. I was a die-hard WaMu fan, but had absolutely no loyalties to Chase, especially once they tried changing the terms of my checking account requirements. As my good friend Snoop Dogg would say “I dropped them like they’re hot.”

I’m kind of an account whore as Girl Ninja and I have a Credit Card with Bank of America, a Credit Card with Chase, a Checking/Savings account with Wells Fargo, and a Savings account with ING Direct. Needless to say, we get around 🙂

When I think about all of the different financial institutions I’ve banked with over the years, few have really impressed me. ING and Wells, however, have been pretty awesome.

ING is the Coolest. Bank. Ever. No joke. They’re hilarious. They have clever marketing campaigns and are always challenging their customers to save. In fact, one of their slogans is “‘No ones ever had savers remorse.”  They offer a competitive APY for their online savings account and are very customer friendly. I’ve used them for my primary savings account for a little over two years and couldn’t be happier.

I’ve had my Roth IRA through Wells Fargo since 2007, but didn’t open a checking account with them until 2010. While I wouldn’t necessarily say Wells is great for everyone, they DO offer a Portfolio Management Account  (PMA) to customers that meet certain minimum requirements. If you are able to qualify for a PMA account, I challenge you to find a bank that offers something better. 100 commission free online trades, no brokerage account annual fee, interest bearing checking, free ATM withdrawals (from other banks too), free checking, free saving, unlimited free custom checks, personalized debit cards. The list goes on and on. I switched from Chase to Wells and couldn’t be happier.

All right so now that I’ve shared why I love ING and Wells, it’s your turn to share who you bank with and why you love them. If you are a creature of habit and only bank with your bank because you have been with them for “X” years, maybe it’s time you start looking for something new. Life’s too short to have a mediocre bank.

(sorry for me extreme lameness as of late).

15 thoughts on “Yo bank

  1. I do all my banking with Royal Bank here in Canada. I’ve just been with them forever and they treat me pretty good. They just don’t give me any reason to try other banks, although I have tried a couple others in the past due to outside circumstances.

  2. National City, which became PNC. Pretty happy with them but considering opening a CD with USAA since they have significantly higher rates.

  3. I banked only with Wells for a long time, but then I moved and there weren’t any branches near me anymore, so I had to switch to BoA. I never really thought about whether or not I “liked” Wells, but I never had any problems with them in the six or so years I had an account with them. And now they manage one of my student loans, and I can’t really complain about that either. But I’m not really interested in what services a bank can offer me — I just need a place to store my money. 🙂

  4. Percentage-wise, I don’t keep a lot of my assets in cash, and I think the main reasons for “stacking cash” are safety and liquidity. So I keep my cash with Citibank despite the low interest rates, as it’s convenient to have branches within three miles of my office and home.

    • 🙂

      I’ve been thinking about my strategy of investing in savings accounts compared to a non-Roth retirement account. Because I’m paying taxes on the interest I earn, I don’t have to pay taxes on my withdrawals. A nice perspective on my savings account.

  5. I have two banks: CoAmerica and National Bank of CT. The first one is a nationwide branch, it was my husband’s account before we merged our finances. I love my Natl Bank of CT. They have amazing cutovers service, don’t charge me for anything, etc. The only problem is that it is a local community bank. Since I moved away from where my parents are, I can’t really go to the office and deposit money. Neither banks have good saving accounts rates. RIght now we have our savings in CoAmerica because we are planning to buy a car in less than two months and want to have access to some cash. After that I am planning to open an account either at ING or USAA.

  6. I, too, am an account whore. I bank with a small local Credit Union and a small local Savings & Loan, as well as online bank Emigrant Direct. My home mortgage is through the Savings & Loan as well. My first bank account was a “Jammin’ Hoops” kids savings account with SeaFirst. When SeaFirst was bought out by Bank of America I stayed. I think it was 2005 when I finally got sick of using their ATM all the time because they charged you a fee to talk to a teller. I decided to find a financial institution that actually paid me something for my savings, gave me decent loan rates, and that didn’t need my I.D. because they recognize me & ask about my kids. I do keep a grand with US Bank in case I’m out of town and need a chunk of cash.

  7. I agree that life is short and definitely do not put up with a mediocre bank. I would reconsider having my Roth IRA at a bank., if I were you. Banks usually tack on fees and under perform the market. I would roll it over to Vanguard or Fidelity.

  8. I like ING as a savings account but their checking account is no good. In order to deposit a check you either have to mail it to them (to much effort) or deposit it into a different bank’s checking account and then transfer it to your ING checking account (seems pointless)

  9. Lately, I’ve been an account whore too. My original account has been with US Bank, just checking because their savings suck. So I went with Citibank for savings until they went downhill too, but I keep the account open because they gave me a free safety deposit box. So I put my money into Capitol One Costco savings account because they offer me the best interest with bonus. I opened a Wells Fargo account just because I will have a go to bank if my other banks upset me. I also opened up a Chase checking and savings account for their $275 bribe. I intend to close those up when I don’t incur closing fees which should be about 6 months.

  10. The timing for this post is perfect! I have been harassing my relatives (and Google) looking for a good checking/saving accounts since I will be moving to the States pretty soon. I know my sister has a Wells checking account (and she’s pretty happy with it) and I have heard only but good things about ING, so I think this is the confirmation I need to be their customer.

    Any advice on Deposit Certificate?

    Thanks for your review! 🙂

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