Which New York bank should I switch to?

Ross Bergman

Ross Bergman

Steven Slate Rules
#1
#1
Now that Bank of America is charging a monthly maintenance fee for my so-called "Free Checking" account, does anyone know of a legitimate institution... to whom I can give my business?

I was a Bank of America customer in the mid 80s until they started really piling on the fake fees. (Back then, they actually once tried to charge me a fee for having excessive fees on my account. No joke.) Then I switched to Summit. Summit was bought up by Fleet. And three years ago, Fleet was bought up by this new and improved version of Bank of America... who starred in "A Few Good Men" with Kevin Bacon.

I (kind of) feel badly leaving them because they were super proactive when I had some online account info stolen a couple of years ago... and when I had my ATM card cloned from a scanner that was inside a McDonalds ATM machine last year.

My new bank has to be one where there's a branch near the Cornell campus... and a zillion branches in Los Angeles.
 
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ThePhilWells

ThePhilWells

Iambic Foot
#2
#2
Do you need a nearby branch for deposits or to avoid ATM fees? Schwab pays all your ATM fees for you and has a nice easy website. Downside: no local branches anywhere. You have to mail deposits.
 
T

trinity4r1

New Member
#3
#3
I'm a fan of HSBC. Tons of ATM locations, free checking, free online savings with a high interest rate. I've had no problems with them in terms of fees and stuff.
 
Rocco

Rocco

New Member
#4
#4
If you pick any bank other then Commerce you are insane.

Low fees. Great service. Awesome hours.

Here's my awesome commerce story. A few years ago, I was heading to a Foreplay show (that was the adult improv show I was in, kay?) dressed in my costume for the night - a pair of ladies' tights pulled extra tight around my junk; Doc Martins; and a cape and goggles. It's 10:30 PM. When I get to the theater I leave my wallet in the cab. This is super-bad because after the show, and a few hours of drinking, I have a 5am flight to Orlando to go to Walt Disney World. No wallet = no money, no ATM card, no ID.

I cab it back home fast and grab my passport (which takes care of the ID issue) but what about money? I call Commerce's 800 # and find a branch open until MIDNIGHT on FRIDAY NIGHT (86th sts, yo) and head uptown in a fit. I run into the bank in my gay superhero costume with my passport and ask for a new ATM card (and to shut the old one off).

5 minutes later I have a new debit/visa and cash (30 minutes later I was telling a story about planning on boning my ex in the ass). The only comment from the bank teller was a careful look down at my barely-swaddled fruitbasket, to which I replied "I'm a super hero" and she said "oh, ok then".

That is why Commerce rules.
 
ruby sneakers

ruby sneakers

hm
#5
#5
i love commerce. i don't know about their non-ny locations though. they aren't in new england at all really, so when i go home i have to get cash from cash back at the grocery store, but other than that, i love them. and the fact that the branch on 3rd and 12th (right)? finally opened makes me an even happier camper.
 
benzado

benzado

Bachelor of Science
#6
#6
I'm having a similar issue with Bank of America right now... for the last 2 months they charged me a fee for my checking account despite the fact that I have well over the minimum balance required in my savings account. We have a routine where I email them through their website and they write back to say "Oops" and refund the fee.

If it happens a third time, I'll be looking for a new bank also; but anyway the point was I don't know your specific situation but they do respond to messages sent via their website.
 
Ross Bergman

Ross Bergman

Steven Slate Rules
#8
#8
benzado said:
I'm having a similar issue with Bank of America right now... for the last 2 months they charged me a fee for my checking account despite the fact that I have well over the minimum balance required in my savings account. We have a routine where I email them through their website and they write back to say "Oops" and refund the fee.

If it happens a third time, I'll be looking for a new bank also; but anyway the point was I don't know your specific situation but they do respond to messages sent via their website.
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It's so funny that you mention that. Just this morning, they charged me a fake $5.95 fee... which they reversed when I called them up to complain. My account doesn't even require a minimum balance, so there should NEVER be any kind of fee like that.
 
noeld

noeld

Active Member
#9
#9
trinity4r1 said:
I'm a fan of HSBC. Tons of ATM locations, free checking, free online savings with a high interest rate. I've had no problems with them in terms of fees and stuff.
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HSBC is by far the worst bank I have ever dealt with. I am currently engaged in some shenanigans with my landlord in which I need to be able to access banking history. The day this stuff is over I am switching. Also, according to the consumerist HSBC has the highest customer dissatisfaction by a LONG shot.

I'll probably switch to Chase. I don't think that they are any great shakes but they are ok and big and everywhere in New York.

I try to stay away from small banks like commerce and wamu. You sign up for a great deal, but they are only offering that so that they can get a lot of customers and be bought by somebody else who will change the rules. I also want to have a bank where I can have my checking, savings, credit card, and someday mortgage.
 
Rocco

Rocco

New Member
#10
#10
Commerce might not be a Chase, but its hardly small, at least in the northeast. it's also been around for something like 35 years?

try to get into a Chase at 11pm on a friday, or 3 pm on a sunday. That's all I'm saying.
 
Maddy

Maddy

Shark
#11
#11
Commerce has a "poor tax" on their "Free Checking." You must have balance of $100 at all times or you will be charged $15. You cannot link your savings to your checking account to avoid the charge. This may not be an issue for you but it just sucks as a business practice.

Maybe you like to keep extra money in your checking account. I don't. I keep money not needed to pay checks in savings where it earns interest.
 
Rocco

Rocco

New Member
#12
#12
I'm not rich, it mattered to me too, the first time I got socked with the $15 fee. However, If you speak to commerce, you can have your free checking account changed to some kind of super-basic account and instead pay a monthly cycle service charge of $3. I know because I have two of those accounts with them (I converted two accounts into these).

I don't like having to pay that either (especially since they had a totally free checking account up to a year ago), but paying $36 an account a year is, for me, a good tradeoff for all the other conveniences I get from them.

I don't know about other banks, but as long as we're talking banking, here's a tip. Go into Commerce (if you use them) and get a second super-basic checking account (that's what i did). You'll get a second visa/debit. they'll bitch a little but explain its for bills. Link the accounts together. Keep the second card someplace safe - at home, or when you travel, seperate from your main debit card. This way if you lose your primary card, you can go to any web browser (or a phone), transfer money to the second account, and use the backup debit so you won't be screwed. i've had to do that about once a year for the last 4 years - once when traveling overseas and the card was swallowed by an atm, once when wallet lost, etc - and its worth the $36 a year for the second account.
 
S

Sams

funny lady
#13
#13
i think we can agree that bank of america just sucks. they were charging me for a safe deposit box my mother had in fl- that she closed a few years ago- and now they're saying she again has to return the keys (which she already did) or pay $200 for them to be able open the box or they will keep charging me- because i had a bank of america account unconnected to her, but when i was 15 signed a paper allowing to access the box. i would have had to fly back to fl in person to be taken off. Aside from the annoying little fees, this was just ridiculous.

I just switched to citibank, mainly because there's one in my neighborhood. they do have a minimum balance, or you have to make 2 online bill payments a month to avoid a fee. A little bs, but since i do make a lot of payments online it should be ok.
 
HairballofDoom

HairballofDoom

Bearded Daddio from Mars!
#16
#16
I have Chase and quite enjoy the fact that there's a bazillion atms at my disposals, both in banks and at Duane Reades. The one thing I dislike is that scandal that involved a Chase memo calling for the death of Zapatistas (Link!). Even though it's all been hushed up and explained as not Chase policy I'm still a bit creeped out. But then banks are evil, that's why I want to place my money in an actual kitty.
 
W

Will Choy

Member
#19
#19
What a prescient topic. I'm also looking to leave Bank of America because they finally changed my free student checking to one with fees. Took them four years to notice. The lack of ATMs near me i pretty annoying too.
 
Ross Bergman

Ross Bergman

Steven Slate Rules
#20
#20
Will Choy said:
What a prescient topic. I'm also looking to leave Bank of America because they finally changed my free student checking to one with fees. Took them four years to notice. The lack of ATMs near me i pretty annoying too.
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True. And they just raised their fee for using other banks' ATMs. Plus, they also raised the fee if a non-Bank of America customer uses their ATM. It's now $3 for outsiders. Here's an article from last year.

http://www.usatoday.com/money/industries/banking/2007-09-12-atm-fees_N.htm
 
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