Hey, I need some help. We are thinking about changing over to a new bank. We are currently at Washington Mutual, but we are hearing rumors about them going under and I'm just not sure I want to stay and go through that. I have no idea which bank to change to, any ideas????? Where do you bank and why do you love it or hate it? Some factors that are important to me:
1) User friendly website - all I do is bank online (except to deposit a check every once and a while)
2) Convenience of bank location so I can drop off checks to deposit
3) Interest rates
4) At Washington Mutual I get free checks for life and a bunch of other perks - one free overdraft waive and things like that
5) Ability to transfer as much as I want. I seriously make about 10 or so transfers a month. I know some banks only let you transfer a certain amount of times a month before they give you a fee
If it wasn't for the fact that this bank may no longer exist I would totally stay, but I don't feel comfortable staying. Any advice would be great, thanks!
10 comments:
good question. we're with wamu too. i used to work there before i had kids. i LOVE wamu! i've been hearing the rumors too and have been feeling a little uneasy too. i'm thinking of looking in to zions. (considering that's where the church has their accounts, it's got to be pretty good, right?) i haven't done much investigating though. i do know i didn't like bank of america much or wells fargo or key bank. but i may be wrong. i've heard both good and bad about us bank. i'm interested to see the responses you get.
We have USAA, but use Bank of America for day-to-day and local stuff... love USAA; hold our nose and deal with B of A. The thing is, that USAA is a membership deal affiliated with military families, so it's not available to everyone. But security-wise, B of A is huge and hosting illegals' accounts now, too, so if it's in trouble, you KNOW the Feds will just bail them out with more tax dollars ;-).
Didn't have a good experience with Zion's in college, or after, for that matter... but I know a lot of people like them.
I'd seriously look into just about any credit union I could, if I were looking. Credit unions, being more membership/affiliation-based, are much more helpful and service-oriented.
Hey there, Chad and I love Zions, they don't even have one here in Nevada we transfer all our "stuff" to Idaho. You will have to work on not transfering money so often.
We also have a US bank account so that we could have something local, and they are nothing amazing.
Im not a huge help about which banks to look at, we go to a credit union that Jar's family got into while young.
It sounds like as Rachel wrote, "WAMU" is the way to go, but concerns for going under? That would be a huge concern, Im stumped.
I also love WAMU and am sticking with them. According to a financial guru friend she thinks if they drop much further they will be bought out, which I figure is okay. Also, if they dissolve the FDIC should have your money to you within a couple of days. I am interested to see your comments though.
That's not good! I bank with the same bank? So what happens if they do go under and you have money in an account??? For our savings we bank with ING Direct. It accrues a nice interest through out the month. It's easy to use but I've never used it as far as a checking account goes so I'm not sure how it works in that regard. We use it in conjuction with the bank we are currently with. Works great as a savings account though. My family banks with BECU (Boeing Credit Union) and has always had good luck with them and awesome rates.
Let me know what you decide cause me and Jon bank at WaMu too- what a pain huh!?
Personally We bank with Capital Educators FCU. We really like it. But if you are really happy with WAMU I would just stick with them. Even if they go under all money in your account below 100 thousand dollars is federally insured (FDIC) which means you will get it all back. If WAMU does go under it may take a couple weeks to get your money so it is a good idea to have some money on hand in case of emergency. Also people panicing and taking there money away from WAMU actually makes the problems worse because they need to money to stay in business. Any way hope this helps.
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