Online or Traditional Bank?

I find myself rarely using our traditional brick-and-mortar bank anymore. Mortgage and auto loans have long been paid off. However, I still haven't convinced myself that going online only is the best option for us.

Your thoughts/experiences?

 

I go with whoever pays me the most to stash my money in this vaults, right now, that's Ally Bank and their online setup.

 

We use a local credit union. I like face-to-face when I need to wire money or deal with large sums of cash.

 

Us also. I just like to make personal contact with some one when dealing with my own accounts.

 

I have a couple CD's with Discover Bank..At least you see a little interest with them as opposed to one I have with Bank Of America which is laughable for the amount of it (Under 10g but still that is some $)
I just shake my head tax time..Never remember to change it when it matures,I'm lazy and I don't even read half the mail BofA sends out..But I think you really do need a brick and mortar for checking accounts incase you need a face to face sometime..

 

I've been with E*Trade Bank for twenty years. At a certain account minimum you get no monthly fees, free checks, and no ATM fees period. If an ATM says 5.99 fee and I take out five hundred my account reads withdrawal (505.99), credit (5.99). This is enormously useful in Vegas as I don't feel obligated to withdraw a large amount of money or shop ATM fees. I keep a smaller brick and mortar account so that I can write local checks to persons who don't have their own checking account.

 

i use both, online for higher interest and a traditional checking acct for misc.

 

I've worked in banking the last 8 years. Started off in business customer service (phones), then email/chat, then 4 years in credit Card, and now CIU/anti money laundering. The bank I work for is a big east/west coast bank only. Sad thing is, I don't even bank there... I've been w Huntington instead for 17 years.

Nonetheless, it's a rarity under any circumstance that I go to a physical branch for anything. I do as much as I can online. I hate uneducated people who work in a specific field. The stories I can tell you that involved branch managers, relationships managers, and business service officers would boggle your mind. Obsolete and uneducated.

 

I use a traditional bank.
For when I need pens and can't make it to Vegas to replenish my supply.
Also, I visit my autographed Tony Mandarich rookie card in my safety deposit box.

RICHARD

 

Is that card even worth a dollar?

 

Ugh, one of the worst draft picks, if not THE worst, for the Packers. Probably a top ten all time NFL draft flop.

 

I'm surprised no one mentioned him over in the Scary Things thread.

RICHARD

 

I believe if I ever tried to sell it I'd have to pay someone at least twenty bucks to take it!
It's probably a future gag gift!

RICHARD

 

Okay, so which online savings account offers the highest interest?

 

You can look it up, I have capital one(former ING), that pays 1.1% currently, better than nothing I guess.

 

Here are some that I watch.........

GS Bank 1.20%
Synchrony 1.15%
Ally 1.15%
Discover 1.10%
Amex 1.05%

 

I do both plus Ally and Barclay Dream Account for high yield savings.

 

I'll join the crew who says use online for better savings rates in most cases.

For now, I still have my checking account at a traditional bank with a big ATM network, but I sense my need for this is declining as I use less cash and fewer checks. My wife probably wouldn't like it if we moved accounts, though, which may keep me here for a bit.

I'd also add I use Venmo to move cash around with friends/relatives and it works great as an add on to banking.

 

I have an account w/ Barclays, they're currently at 1.15%