Need another bank besides Capital One
Need another bank besides Capital One
I have Citibank as my main bank because of the ThankYou points I get.
but their interest rates suck, and I xfer excess $ to Capital One which pays .75% on savings.
I learned that Citibank will stop giving Thankyou points for basic savings/checking at the end of the year.
So I'm closing that acct in Jan 2015.
but I also don't want to put all my eggs in 1 basket.
I would like a 2nd bank.
It doesn't have to be a brick and mortar. it could be an internet only bank.
What I'm looking for is:
- High interest rate for savings
- low requirements for checking
- Free ATMs (if internet only bank)
Recommendations?
but their interest rates suck, and I xfer excess $ to Capital One which pays .75% on savings.
I learned that Citibank will stop giving Thankyou points for basic savings/checking at the end of the year.
So I'm closing that acct in Jan 2015.
but I also don't want to put all my eggs in 1 basket.
I would like a 2nd bank.
It doesn't have to be a brick and mortar. it could be an internet only bank.
What I'm looking for is:
- High interest rate for savings
- low requirements for checking
- Free ATMs (if internet only bank)
Recommendations?
"Always be thankful for what you have no matter how much or how little" -EternalOptimist
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Re: Need another bank besides Capital One
Try DiscoverBank.
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Re: Need another bank besides Capital One
We gave up on the multiple banks, internet banks, etc. years ago.
We consolidated everything to our local regional bank with one checking and one savings account. Everything now is so simple and has worked the absolute best in terms of cash flow (i.e. no transfers among multiple banks and accounts).
We consolidated everything to our local regional bank with one checking and one savings account. Everything now is so simple and has worked the absolute best in terms of cash flow (i.e. no transfers among multiple banks and accounts).
John C. Bogle: “Simplicity is the master key to financial success."
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Re: Need another bank besides Capital One
Why not a credit union? I've been in one since the 80's. Like Vanguard, they are owned by the depositers and exist for the benefit of the members.
Bogle: Smart Beta is stupid
Re: Need another bank besides Capital One
+1The Wizard wrote:Ally bank is a good choice...
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Re: Need another bank besides Capital One
I use Capitol One and Barclays .9% vs .75% and easy to use.
Re: Need another bank besides Capital One
I like and use Ally, but if I was shopping for a new bank now, I might go with Chase, but only in tandem with the Chase Sapphire card since their rewards are flexible and pretty awesome. A while back they had some promotion where you could get x number of points for signing up for a Chase checking account. Chase Ultimate Rewards trumps the Citi ThankYou program IMHO.
Re: Need another bank besides Capital One
We use Alliant Credit Union as the main hub - great (but not the best) rates on both checking and savings. One day ACH transfers. Others on here have recommended them before. Great service that's available 24/7 and you can deposit all your checks online / via a mobile app. Something like 80,000 free ATMs throughout the country, too.
I'd also recommend Ally if you want to park some money - that's where our emergency fund lives. Slightly better rates on savings.
I'd also recommend Ally if you want to park some money - that's where our emergency fund lives. Slightly better rates on savings.
Re: Need another bank besides Capital One
hm.. whats the difference between an Ally Online Savings acct (.87% interest) and a Money Market acct (.85%)?
http://www.ally.com/bank/compare/?INTCM ... eL_Default
http://www.ally.com/bank/compare/?INTCM ... eL_Default
"Always be thankful for what you have no matter how much or how little" -EternalOptimist
Re: Need another bank besides Capital One
The Money Market account comes with a debit card and checks, so easier to withdraw.
Re: Need another bank besides Capital One
Do you have a reference for this?Gambler wrote: I learned that Citibank will stop giving Thankyou points for basic savings/checking at the end of the year.
Re: Need another bank besides Capital One
Nvm. Found a link to it on FWF. Sad to see this go. Guess I'll shopping around for a different checking account soon too...Choy wrote:Do you have a reference for this?Gambler wrote: I learned that Citibank will stop giving Thankyou points for basic savings/checking at the end of the year.
https://online.citibank.com/US/JRS/pand ... YRNRewards
Re: Need another bank besides Capital One
you're still limited to 6 withdraws a month.dolores32 wrote:The Money Market account comes with a debit card and checks, so easier to withdraw.
why is this better than the savings acct with a checking acct?
savings acct is also 6 withdraws/month, but the checking is unlimited. and you get your first box of checks free.
"Always be thankful for what you have no matter how much or how little" -EternalOptimist
Re: Need another bank besides Capital One
My combo is Charles Schwab checking (ATM fee reimbursal worldwide, and no foreign currency conversion fees (currently earning 0.1% interest, which is actually decent for a checking account these days), and Ally for savings.
Re: Need another bank besides Capital One
Agreed. They have never done me wrong and you wait less than 5 minutes to talk to someone. Most of the time, there is no wait at all! AwesomeThe Wizard wrote:Ally bank is a good choice...
Re: Need another bank besides Capital One
I'd give a nod to LMCU for their Max Reward Checking account. We have two, which means 3% on 30k. There are some requirements to get the higher interest. I have debit cards for both accounts which I alternate for lunches at work. We both have a direct deposit paycheck. I'm not sure about ACH speed.
51% US / 34% ex-US / 15% “bond”
Re: Need another bank besides Capital One
I use barclays for most of my cash flow. 0.9% savings and 2.25% for 5 year cds. Pretty good Only been a customer for less then a years but so far their website and customer service has left me with no complaints.
I still have a regional bank for withdrawing cash, depositing checks, the occasional medallion guarantee but its rates are terrible and its website even worse.
I still have a regional bank for withdrawing cash, depositing checks, the occasional medallion guarantee but its rates are terrible and its website even worse.
Re: Need another bank besides Capital One
Your mention of Citibank and Capital One makes me think that you are on the east coast, NY/NJ/CT most likely.
If my guess is right, I'd suggest that you look into Santander Bank. Open their extra-20 checking and savings combo, then arrange for a direct deposit of your paycheck, and pay at least 2 bills per month, you keep getting $20 per month deposited into your savings account.
They also offer a money-market savings account that's paying 0.9% as long as the minimum balance is $10,000. Lower balances get paid 0.3%, which is not bad either.
There is a gotcha though; if you do not / cannot do direct deposit, your account gets charged $10 fee per month.
There are enough brick-and-mortar branches, as well as a lot of ATMs in CVS pharmacy stores in NY/NJ/CT area for Santander bank, so you are never far from their branch or ATM.
If my guess is right, I'd suggest that you look into Santander Bank. Open their extra-20 checking and savings combo, then arrange for a direct deposit of your paycheck, and pay at least 2 bills per month, you keep getting $20 per month deposited into your savings account.
They also offer a money-market savings account that's paying 0.9% as long as the minimum balance is $10,000. Lower balances get paid 0.3%, which is not bad either.
There is a gotcha though; if you do not / cannot do direct deposit, your account gets charged $10 fee per month.
There are enough brick-and-mortar branches, as well as a lot of ATMs in CVS pharmacy stores in NY/NJ/CT area for Santander bank, so you are never far from their branch or ATM.
Re: Need another bank besides Capital One
Charles Schwab Bank has done the job for me.
Re: Need another bank besides Capital One
+1. Customer service is great. Good rates. Free checks, wire fees are very reasonable. Two-factor authentication. My wife and I have been very happen with them.The Wizard wrote:Ally bank is a good choice...
Re: Need another bank besides Capital One
DiscoverBank gives a 10-cent cashback for checks, ATM card usage, and other things, as well as sign-up bonuses that would probably surpass whatever interest you'd get from another bank.
For those who live in WA, BECU gives 4% back on the first $500 in checking and savings.
I also like Penfed for the one-stop convenience of putting interest from their generous CDs into savings/mmf, then paying off my Penfed credit card directly from that account. With their credit card you get 5 pts on gas, 3 on groceries, , and 1 on everything else, with no foreign currency fees. Their home equity products and car loans are also often superior, so instead of looking to which bank pays out the highest pittance in interest, I'd evaluate the overall financial benefit of a second bank, or the convenience of something like a local credit union with physical branches if needed and supporting a local business that way.
For those who live in WA, BECU gives 4% back on the first $500 in checking and savings.
I also like Penfed for the one-stop convenience of putting interest from their generous CDs into savings/mmf, then paying off my Penfed credit card directly from that account. With their credit card you get 5 pts on gas, 3 on groceries, , and 1 on everything else, with no foreign currency fees. Their home equity products and car loans are also often superior, so instead of looking to which bank pays out the highest pittance in interest, I'd evaluate the overall financial benefit of a second bank, or the convenience of something like a local credit union with physical branches if needed and supporting a local business that way.
Re: Need another bank besides Capital One
I would look at DiscoverBank. I have a savings account there that I'm very happy with. Savings is currently paying 0.85%.
Even a stopped clock is right twice a day.
Re: Need another bank besides Capital One
and discover checking is offering a $50 sign up bonus.powermega wrote:I would look at DiscoverBank. I have a savings account there that I'm very happy with. Savings is currently paying 0.85%.
www.discoverbank.com/bonus714
doesn't seem like Ally is offering any sign up promos
"Always be thankful for what you have no matter how much or how little" -EternalOptimist
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Re: Need another bank besides Capital One
Ally bank is your answer. You can open savings, money market and checking accounts. They will reimburse you if you get ATM charges. It's free to open any accounts there and rates are competitive.
Debt is dangerous...simple is beautiful