Local bank without any checking account fees?
Local bank without any checking account fees?
I'm currently using wells fargo, and seems like all the big main banks have fees for holding cash in checking accounts. I have $500 sitting in my wells fargo, but if it goes any lower I would get charged a fee so it's money that I can't utilize. I'd like it to go to my ally emergency fund. I just need an account which I can deposit cash without any fees for any amount I have in there, just incase someone were to give me cash and I need to deposit. I live in houston,tx and I haven't been able to find any banks that are easy to access without fees for checking accounts. Which ones would you suggest?
Re: Local bank without any checking account fees?
It's about tradeoffs. I would bet there are credit unions available to you that have no minimum balance required, but they probably don't have ATMs on every corner and other things that you could get from WF.
Last edited by prudent on Mon Nov 10, 2014 11:33 am, edited 1 time in total.
Re: Local bank without any checking account fees?
Open up a Wells Fargo PMA package and WellsTrade account for free. Put $50,000 of your Vanguard assets by transferring "in-kind" from Vanguard for free into your WellsTrade account. Then all of a sudden everything becomes FREE, FREE, FREE: free checks, free ATM, free everything. Of course, read the fine print and understand what FREE means. FREE! FREE! FREE!
Re: Local bank without any checking account fees?
Shop around. My local credit union has fee-free checking, no minimum balance, plus 3% APY on up to $15k, plus will reimburse up to $15 in atm fees per month so you don't need to worry about who's ATM you are using. Love 'em.
Re: Local bank without any checking account fees?
My friend it sounds like you are looking for a good local credit union. http://creditunionaccess.com/TX-Houston ... unions.htm
I would call some of the larger ones I am sure they can help you.
I would call some of the larger ones I am sure they can help you.
Re: Local bank without any checking account fees?
None of my credit unions charge for checking accounts or require minimum balances. Numerous credit unions have ATMs on site or belong to a credit union group such that you can do any transaction at any member branch.
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Re: Local bank without any checking account fees?
achen9291 wrote:I'm currently using wells fargo, and seems like all the big main banks have fees for holding cash in checking accounts. I have $500 sitting in my wells fargo, but if it goes any lower I would get charged a fee so it's money that I can't utilize. I'd like it to go to my ally emergency fund. I just need an account which I can deposit cash without any fees for any amount I have in there, just incase someone were to give me cash and I need to deposit. I live in houston,tx and I haven't been able to find any banks that are easy to access without fees for checking accounts. Which ones would you suggest?
Even though I live in AZ, I use a small local bank in OH for my banking. There are no fees for checking accounts, plenty of free ATMs nationwide, and they will reimburse the first $12 each month if you go out of network. I have a business card for the once a year that I might need to ask a question. It works very well and nothing is neglected.
No more mega-banks for me.
Re: Local bank without any checking account fees?
I just did a search for banks in the Houston area and a number were listed. Unfortunately most of them are not familiar to me. I did see Chase Bank. I have a Chase checking account with no fees. I think the only requirement I have is a minimum balance of $1500. But, if your WF bank has a similar account with a minimum of $500 you already have a better deal. You might check with some of the local or regional banks as well as credit unions. They are the most likely to have no fee account in my experience, but, you may pay a penalty in services.
Bob
Re: Local bank without any checking account fees?
I have had very good experience with using a credit union Corporate America Family Credit Union that I joined over 40 years ago when it had one branch in the factory lunch area where I worked. It is now multi-branch and is the official credit union for the McDonalds executive area in Oakbrook, IL and has many other branches.
They belong to a number of ATM networks and the only time I can remember paying a fee for ANYTHING was in Germany about 15 years ago (actually that may have been a currency fee, as the money came out of the ATM in DeutchMarks in those pre-Euro days).
My "local branch" is in Phoenix, AZ, where I used to work. I am now in south Florida, and nobody has ever noticed the strange "local" branch location on my checks. There is a closer branch in Atlanta, GA, but that doesn't seem like a change worth making.
I use them for all my financial transactions, except safe deposit box, of course. You need to keep $100 minimum in your savings account for everything to be free. This used to be $5.00 until about 20 years ago. NCUA (federally) insured, even though they have a state charter in Illinois. That is because about 20 years ago, when the ABA tried to destroy Credit Unions the proposed destructive legislation only applied to federal chartered ones, so they changed to a state charter just in case that passed.
Also I like the fact that they didn't contribute to the destruction of our economy with the incompetence and possibly criminal behavior of some of the "major banks", and never needed to be bailed out.
- Bob. Beeman
They belong to a number of ATM networks and the only time I can remember paying a fee for ANYTHING was in Germany about 15 years ago (actually that may have been a currency fee, as the money came out of the ATM in DeutchMarks in those pre-Euro days).
My "local branch" is in Phoenix, AZ, where I used to work. I am now in south Florida, and nobody has ever noticed the strange "local" branch location on my checks. There is a closer branch in Atlanta, GA, but that doesn't seem like a change worth making.
I use them for all my financial transactions, except safe deposit box, of course. You need to keep $100 minimum in your savings account for everything to be free. This used to be $5.00 until about 20 years ago. NCUA (federally) insured, even though they have a state charter in Illinois. That is because about 20 years ago, when the ABA tried to destroy Credit Unions the proposed destructive legislation only applied to federal chartered ones, so they changed to a state charter just in case that passed.
Also I like the fact that they didn't contribute to the destruction of our economy with the incompetence and possibly criminal behavior of some of the "major banks", and never needed to be bailed out.
- Bob. Beeman
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Re: Local bank without any checking account fees?
$500 at 0.90% is $4.50 a year in lost interest. To me that is a small fee to be able to move money from my online banks to a local brick and motor or vice versa. However, a quick google search shows Houston Federal Credit Union has free checking with no minimums or direct deposits needed.achen9291 wrote:I'm currently using wells fargo, and seems like all the big main banks have fees for holding cash in checking accounts. I have $500 sitting in my wells fargo, but if it goes any lower I would get charged a fee so it's money that I can't utilize. I'd like it to go to my ally emergency fund. I just need an account which I can deposit cash without any fees for any amount I have in there, just incase someone were to give me cash and I need to deposit. I live in houston,tx and I haven't been able to find any banks that are easy to access without fees for checking accounts. Which ones would you suggest?
https://www.houstonfcu.org/home/checking/checking/value
They also participate in the Co-Op network so they will take your deposits via ATM or shared branches within the network.
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Re: Local bank without any checking account fees?
If you have your paycheck direct deposited, all the big main banks waive the monthly fee. I find it easy to get all of the big bank benefits without paying anything for them, and I enjoy the convenience of a huge number of branches.achen9291 wrote:I'm currently using wells fargo, and seems like all the big main banks have fees for holding cash in checking accounts.
I was going to make the same point. To take it a step further: that $4.50 you're missing out on is taxable, so the fee is really closer to $3.Busting Myths wrote: $500 at 0.90% is $4.50 a year in lost interest. To me that is a small fee to be able to move money from my online banks to a local brick and motor or vice versa.
Re: Local bank without any checking account fees?
Schwab Investor checking. No Fees, all free.
Re: Local bank without any checking account fees?
A few replies missed this requirement:
achen9291 wrote:I just need an account which I can deposit cash without any fees for any amount I have in there, just in case someone were to give me cash and I need to deposit.
Harry Sit has left the forums.
Re: Local bank without any checking account fees?
Capital One 360 checking,,,NO fees,someone gives you a check,,snap a picture of it with your phone and deposit,,whoosh,
https://home.capitalone360.com/online-checking-account
http://helpcenter.capitalone360.com/ing ... MOBILEBAS2
https://home.capitalone360.com/online-checking-account
http://helpcenter.capitalone360.com/ing ... MOBILEBAS2
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
Re: Local bank without any checking account fees?
Hard to beat this in Houston https://www.tbacu.org/save/checking-mem ... antage.asp
Re: Local bank without any checking account fees?
Still cracks me up that in the US we consider taking pictures of little pieces of paper to transfer money "modern".Toons wrote:Capital One 360 checking,,,NO fees,someone gives you a check,,snap a picture of it with your phone and deposit,,whoosh,
I always wanted to be a procrastinator.
Re: Local bank without any checking account fees?
I live in a small town of 5,000 tucked away in Appalachia - I use the Fidelity Cash Management account for my heavy lifting, Ally for savings, and keep an account with a few thousand dollars at a small regional bank on the corner downtown. They have a free checking option.
I know the manager and tellers by name, see them around town and do "stop and chats", etc. Every now and again I'll need to get something notarized... Plus I like to support my local economy in some small way.
I know the manager and tellers by name, see them around town and do "stop and chats", etc. Every now and again I'll need to get something notarized... Plus I like to support my local economy in some small way.
Last edited by tbradnc on Wed Nov 12, 2014 1:54 pm, edited 1 time in total.
Re: Local bank without any checking account fees?
Ally and USAA have pretty much the best systems for anything I could think of needing a "local" bank for, and they have 0 fees and very low requirements for balances, transactions, and timely updates. My SO uses a credit union to handle some local benefits, like discount movie tickets and higher interest money market.
Re: Local bank without any checking account fees?
Yep, I know the manager of my bank, too. He's my neighbor, so I also know his spouse and kids and his dog, too. More importantly, he knows me and all about my trials and tribulations with Treasury Direct. I like to support the local economy, too, but surprisingly local people work at the big-name national retail outlets in my neighborhood.tbradnc wrote:I live in a small town of 5,000 tucked away in Appalachia - I use the Fidelity Cash Management account for my heavy lifting, Ally for savings, and keep an account with a few thousand dollars at a small regional bank on the corner downtown. They have a free checking option.
I know the manager and tellers by name, see them around town and do "stop and chats", etc. Every now and again I'll need to get something notarized... Plus I like to support my local economy in some small way.
Re: Local bank without any checking account fees?
The OP can do that by belonging to a credit union that's part of a credit union network.tfb wrote:A few replies missed this requirement:achen9291 wrote:I just need an account which I can deposit cash without any fees for any amount I have in there, just in case someone were to give me cash and I need to deposit.
Re: Local bank without any checking account fees?
I live in Houston and strongly recommend the bank that I use:
http://texascitizensbank.com/
Community bank with no fees
http://texascitizensbank.com/
Community bank with no fees
Re: Local bank without any checking account fees?
My primary banking has been online for about 15 years. I do have a local credit union for 1) $10 Safe Deposit Box, 2) If I need a lot of cash fast, 3) If I need to deposit cash, 4) Notary Service, and 5) Medallion Signature Guarantee. Only some credit unions have #1 and #5. The $10 Safe Deposit box is at Teamsters Federal Credit Union in Detroit. Anyone that lives, works, or worships in Wayne County can join them. They are very friendly, and I recommend them highly.
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Re: Local bank without any checking account fees?
rooms222 wrote:My primary banking has been online for about 15 years. I do have a local credit union for 1) $10 Safe Deposit Box, 2) If I need a lot of cash fast, 3) If I need to deposit cash, 4) Notary Service, and 5) Medallion Signature Guarantee. Only some credit unions have #1 and #5. The $10 Safe Deposit box is at Teamsters Federal Credit Union in Detroit. Anyone that lives, works, or worships in Wayne County can join them. They are very friendly, and I recommend them highly.
As I said before, I have been using a bank in OH despite living 1800 miles away.
#1 and #3 have been the biggest problems with out-of-town banking.
I finally found a small bank that would rent me a safe deposit box. None of the majors would without an account.
For #3, I purchased a prepaid Visa with no fees or a Walmart gift card (for gas at Murphy USA).
Re: Local bank without any checking account fees?
Since I'm in Ohio, can I ask what bank you're referring to? Feel free to PM if you'd prefer.
We just switched to Ally for everything. For cash, I can't foresee having a lot but if so a Money Order is 59 cents at the local store, then deposit like a regular check. That's my plan at least, not foreseeing having to use.
We just switched to Ally for everything. For cash, I can't foresee having a lot but if so a Money Order is 59 cents at the local store, then deposit like a regular check. That's my plan at least, not foreseeing having to use.
Re: Local bank without any checking account fees?
You might consider Alliant Credit Union (easy to join). You can open a regular savings account (earns 0.8%) and a checking account. No charge for the first order of checks, no minimum balance, no per-check charge, no hidden fees*, no gimmicks. You can transfer money from savings to checking on-line as needed. I think you might need to keep at least $100 in your savings account to earn interest, but that doesn't seem to be an issue for you.
*They do charge $1/mo if you want paper statements.
*They do charge $1/mo if you want paper statements.
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Re: Local bank without any checking account fees?
Many banks won't allow money orders to be deposited via smartphone. I believe that's the case with Ally.runner9 wrote:Since I'm in Ohio, can I ask what bank you're referring to? Feel free to PM if you'd prefer.
We just switched to Ally for everything. For cash, I can't foresee having a lot but if so a Money Order is 59 cents at the local store, then deposit like a regular check. That's my plan at least, not foreseeing having to use.
http://www.fatwallet.com/forums/finance/1336642/
Re: Local bank without any checking account fees?
You're correct, thanks. I guess I would just get a Money Order and mail it in.Louis Winthorpe III wrote:Many banks won't allow money orders to be deposited via smartphone. I believe that's the case with Ally.runner9 wrote:Since I'm in Ohio, can I ask what bank you're referring to? Feel free to PM if you'd prefer.
We just switched to Ally for everything. For cash, I can't foresee having a lot but if so a Money Order is 59 cents at the local store, then deposit like a regular check. That's my plan at least, not foreseeing having to use.
http://www.fatwallet.com/forums/finance/1336642/
What types of checks can I deposit using Ally eCheck Deposit℠?
You can deposit checks payable in U.S. dollars and drawn at any U.S. bank.
You can't deposit some items using Ally eCheck Deposit, as stated in the Ally Bank Deposit Agreement (PDF):
Checks payable to any person or entity other than you
Checks that aren't endorsed by all payees
Checks containing alterations to any of the fields on the front of the check
Starter checks or counter checks
Checks that have been previously deposited at another institution via physical item, image or electronic funds transfer
Checks that are more than 180 days old
Substitute checks (as defined in the Federal Reserve's Regulation CC, 12 C.F.R. Part 229)
Remotely created checks, as defined in Regulation CC (checks that, among other things, do not bear the signature of the person on whose account the check is drawn)
Traveler's checks or money orders (these are eligible to be mailed in for deposit)
Non-negotiable instruments, such as promissory notes
Checks drawn on any of your Ally Bank accounts
Re: Local bank without any checking account fees?
fidelity cash management account.
Fee free with no minimum balance, checking, mobile check deposits. FDIC insured, and some interest on the balance.
I use it as my sole checking account and have zero complaints.
Or a local Credit Union - my old one was superb.
Fee free with no minimum balance, checking, mobile check deposits. FDIC insured, and some interest on the balance.
I use it as my sole checking account and have zero complaints.
Or a local Credit Union - my old one was superb.
- interplanetjanet
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Re: Local bank without any checking account fees?
Oh my yes. It's almost comical thinking about it at times - interpersonal money transfers are more advanced in rural Kenya than in the USA.Sidney wrote:Still cracks me up that in the US we consider taking pictures of little pieces of paper to transfer money "modern".Toons wrote:Capital One 360 checking,,,NO fees,someone gives you a check,,snap a picture of it with your phone and deposit,,whoosh,
Re: Local bank without any checking account fees?
Bank of America and Chase have payment services that didn't involve a piece of paper. https://www.clearxchange.com/ does it between BofA, Chase and Wells Fargo.interplanetjanet wrote:Oh my yes. It's almost comical thinking about it at times - interpersonal money transfers are more advanced in rural Kenya than in the USA.Sidney wrote:Still cracks me up that in the US we consider taking pictures of little pieces of paper to transfer money "modern".Toons wrote:Capital One 360 checking,,,NO fees,someone gives you a check,,snap a picture of it with your phone and deposit,,whoosh,
"Don't trust everything you read on the Internet"- Abraham Lincoln
Re: Local bank without any checking account fees?
I'll second getting a PMA account, it's great. Especially the 100 free trades/yr/account (but that has since been changed for new signups). I like getting the free checks and the huge number of WF branches. But I also have a credit union account for some things, mainly because their ATM is at my work, and they don't charge for depositing a foreign check (WF charges 5 bucks, even for PMA accounts! I complained and got the charge waived but won't make that mistake again).livesoft wrote:Open up a Wells Fargo PMA package and WellsTrade account for free. Put $50,000 of your Vanguard assets by transferring "in-kind" from Vanguard for free into your WellsTrade account. Then all of a sudden everything becomes FREE, FREE, FREE: free checks, free ATM, free everything. Of course, read the fine print and understand what FREE means. FREE! FREE! FREE!
Re: Local bank without any checking account fees?
I'll recommend the BlueBird account. I think it's a really cool product because you can deposit cash at any Walmart, the fee structure is very clear (pretty much the only fee is for using a non MoneyPass ATM). It even comes with electronic bill pay. And it has no foreign transaction fees. I'm planning to open one the next time I travel internationally.achen9291 wrote:I'm currently using wells fargo, and seems like all the big main banks have fees for holding cash in checking accounts. I have $500 sitting in my wells fargo, but if it goes any lower I would get charged a fee so it's money that I can't utilize. I'd like it to go to my ally emergency fund. I just need an account which I can deposit cash without any fees for any amount I have in there, just incase someone were to give me cash and I need to deposit. I live in houston,tx and I haven't been able to find any banks that are easy to access without fees for checking accounts. Which ones would you suggest?
Main site https://www.bluebird.com
List of Fees https://www.bluebird.com/#fees
Consumer reports #1 ranking http://www.consumerreports.org/cro/2013 ... tm#26cards