mouses wrote: ↑Fri Feb 16, 2018 2:53 pm
I'll avoid the extended nesting of quotes
It obviously comes down to what you value and the options available to you. For someone who wants an empty checking account, BofA is clearly not a good fit. Perhaps their local CU offers 3% interest and no fees on their $0 deposit
Personally, I've never had a local bank or CU that has had good rates on savings or CDs, and all of them (including the CUs) have had minimum deposit amounts to avoid fees.
In your case, you value the ability to access a local brick and mortar location, and are willing to pay a 0.5% fee for that service. You clearly have a CU that has decent CD rates, much higher than I have in any location I've ever lived.
My local options are, and have always been:
Big national bank with excellent online system and expansive ATM network with terrible savings/CD rates
Local bank with horrible online system and no ATM network with terrible savings/CD rates
Local CU with horrible online system and no ATM network with terrible savings/CD rates
For the vast majority of people the optimal solution may be a national bank for checking/local access, and an online account for the better savings rates. For those lucky enough to live near a CU with Ally level interest rates, national bank quality websites, and ATM fee reimbursement, consider yourself very lucky