Thinking about switching banks

**susie michelle** · 10-30-2012, 12:37 PM

The best bank for you is going to depend on some factors that are very individual to you. The accessibility of ATMs IS something to consider, as are monthly bank fees, ATM fees, account balance requirements and interest rates. Findabetterbank.com is a resource that may help you to find the right bank for your personal needs.

**disneysteve** · 10-30-2012, 01:00 PM

I took the liberty of moving your thread to the Banking forum since it was a banking question.

Can you tell us what you haven't been happy with at BOA? You mentioned fees. What kind of fees exactly? I know a lot of people complain about BOA but I've been with them for years and never had any trouble and I've never paid a penny in fees of any sort.

**NickVO113** · 10-30-2012, 01:17 PM

Im mad for a few reasons:

1. They told me when I signed up for my checking account that I would not be charged a monthly fee for anything like walking into the bank and using the tellers. Now they changed it so I did get charged unless I switched to a checking account that's all done with ATMs and online banking, otherwise I get charged 12 bucks a month.

Now, I understand ithat policies change. But no one made a effort to inform me. I will fully admit that ill do most banking via ATM AND ONLINE/mobile means, but there are simply times I to use a teller.

2. I just don't have a very good image of BofA right now. I don't feel I can trust it with most, if not all my banking. And the sudden fee thing mentioned in part 1 explains this a bit.

There's certainly wellsfargos in my area. However, im worried I won't be able to find ATMs when traveling, which I don't do much anyway.

**Petunia 100** · 10-30-2012, 01:43 PM

Originally posted by NickVO113 View Post

Im mad for a few reasons:

1. They told me when I signed up for my checking account that I would not be charged a monthly fee for anything like walking into the bank and using the tellers. Now they changed it so I did get charged unless I switched to a checking account that's all done with ATMs and online banking, otherwise I get charged 12 bucks a month.

Now, I understand ithat policies change. But no one made a effort to inform me. I will fully admit that ill do most banking via ATM AND ONLINE/mobile means, but there are simply times I to use a teller.

2. I just don't have a very good image of BofA right now. I don't feel I can trust it with most, if not all my banking. And the sudden fee thing mentioned in part 1 explains this a bit.

There's certainly wellsfargos in my area. However, im worried I won't be able to find ATMs when traveling, which I don't do much anyway.

I bank with Wells Fargo and could not be more pleased.

If you have a PMA account, non-Wells Fargo ATM fees are reversed.

I am in the habit of withdrawing cash twice each month and never in-between. This makes fewer ATMs (which I also find to be true since switching from B of A) not so much of an issue.

I also think there is no one "best" bank; we all use our bank accounts a little differently.

Currently at Wells Fargo, I get the $30 per month PMA free as well as free trades in my brokerage account. The service is quite good. The on-line budgeting tool is not as good as B of A's, though. Still, all in all, no complaints here.

**siggy_freud** · 10-30-2012, 04:25 PM

I run my personal and business banking accounts through Wells Fargo. Their accounts don't have fees, so long as you meet certain conditions. For my type of checking, I have to have a Mortgage also on there. I refinanced a few months ago, and during the month when the loan was back in limbo (as it had been with Wells Fargo, and is now again) I got charged a $13 fee. It pissed me off at first, but it's the cost of doing business, and one I would have known about if I had paid attention.

I agree that fees are frustrating, and if they change the rules of the game, I'd have no problem picking up and heading to my local credit union.

Regarding ATMs . . . not sure where you're located OP, but here in Portland I can find a Wells Fargo ATM with ease. I think there are 2-3 in a 6 block radius of what I am at. But we have a Wells Fargo tower in downtown so perhaps they're more prevalent here.

**NickVO113** · 10-31-2012, 05:20 AM

Originally posted by siggy_freud View Post

I run my personal and business banking accounts through Wells Fargo. Their accounts don't have fees, so long as you meet certain conditions. For my type of checking, I have to have a Mortgage also on there. I refinanced a few months ago, and during the month when the loan was back in limbo (as it had been with Wells Fargo, and is now again) I got charged a $13 fee. It pissed me off at first, but it's the cost of doing business, and one I would have known about if I had paid attention.

I agree that fees are frustrating, and if they change the rules of the game, I'd have no problem picking up and heading to my local credit union.

Regarding ATMs . . . not sure where you're located OP, but here in Portland I can find a Wells Fargo ATM with ease. I think there are 2-3 in a 6 block radius of what I am at. But we have a Wells Fargo tower in downtown so perhaps they're more prevalent here.

There's about 3 ATMS within 2 miles or so of each other. Anyway, I went ahead and opened a savings and checking account with them and I'm switching over from B of A. Hope I enjoy the bank.

**Jwilliamson22** · 10-31-2012, 11:15 AM

It really depends on your situtaion I would go to ech bank and tell them your whole situation and what your looking for, there are often ways to avoid fees and such when you package certain accounts etc.

**disneysteve** · 10-31-2012, 03:03 PM

Originally posted by NickVO113 View Post

1. They told me when I signed up for my checking account that I would not be charged a monthly fee for anything like walking into the bank and using the tellers. Now they changed it so I did get charged unless I switched to a checking account that's all done with ATMs and online banking, otherwise I get charged 12 bucks a month.

I wonder if I'm grandfathered in on my account. I have never been charged a fee for anything with BOA including using a live teller (which I do rarely but it does happen maybe 3-4 times per year).

Did they say if that fee only applied if you didn't maintain a certain balance on your account?

**kv968** · 11-01-2012, 08:25 AM

Originally posted by disneysteve View Post

I wonder if I'm grandfathered in on my account. I have never been charged a fee for anything with BOA including using a live teller (which I do rarely but it does happen maybe 3-4 times per year).

I'm wondering the same thing. Although I haven't even been inside a bank for years so I wouldn't know about the live teller charge.

All I have is direct deposit with BOA and keep the BARE minimum in my checking and around $600-$1000 in savings and I'm not charged any fees.

I'm sure if I overdraft or something I'll be charged but that's a different issue.

**Goldy** · 11-01-2012, 07:50 PM

Wells Fargo had some pretty big screwups with my accounts to the point that I was so fed up with them that I switched everything including the mortgage. I moved my bank to Ally and I wish I had done it years ago because not only do I get an amazing rate but the customer service is phenominal. Also, with Ally you can use any ATM without a fee. If the ATM charges you a "convience fee" then ally reimburses you at the end of the month.

We did keep a small wells fargo account open just to have access to brick and morter bank services such as money orders and cashing checks but thats really all we use it for.

**snafu** · 11-01-2012, 08:44 PM

The banks have been seeking ways to increase profit and if you will forgive my cynicism...ignore the havoc generated by the executive suite.

It's important to understand the terms and condition of the particular type of account that suits your needs best. What is your breakdown of electronic to brick & mortar banking services? I do 90% of finances electronically and 10% at the bank and am considering changing to Credit Union [CU] because of their incredible customer service.

**disneysteve** · 11-02-2012, 05:43 AM

Originally posted by kv968 View Post

I'm sure if I overdraft or something I'll be charged but that's a different issue.

Perhaps I'm wrong, but it has always been my impression that the vast majority of bank fees that people complain about are actually customer-generated, not bank-generated. In other words, the fees are triggered by the customer doing something he shouldn't have done like bouncing a check, making a late payment on a loan, etc.

If I'm wrong about this and there are fees that you get hit with when you're doing everything right, I'm curious to hear about that.

**bjl584** · 11-02-2012, 06:11 AM

Originally posted by disneysteve View Post

Perhaps I'm wrong, but it has always been my impression that the vast majority of bank fees that people complain about are actually customer-generated, not bank-generated. In other words, the fees are triggered by the customer doing something he shouldn't have done like bouncing a check, making a late payment on a loan, etc.

If I'm wrong about this and there are fees that you get hit with when you're doing everything right, I'm curious to hear about that.

My bank only charges me a fee if I overdraw my account (which I've never done) or if I use an ATM outside of the bank's network (which I never do either.)

**p_wyt_12** · 11-18-2012, 08:05 AM

I always use internet banking and so glad that everything is good with my current bank like no fees at all. If there are some fees, I am informed through email or some announcement within their site when I visit. Hope you'll also be happy with your switching banks. I think it's alright if the ATMs are limited as long as there is atleast one you can access on your area.

Thinking about switching banks