Which New York bank should I switch to?

[trinity4r1]

HSBC just announced they've raised their Online Savings account to 3.5% at least until the end of August. That's the highest rate in the country. Start shifting your money now.

 

[benzado]

Didn't TD North just get taken over by Capital One? I could be wrong. These things happen.

Close. They are now TD Commerce Bank.

 

[Fortunado]

Switch your money to Commerce Bank - it was founded by Kansas Citians and all the money comes back here to fund the arts.

 

[MichelleD]

Washington Mutual just pissed me off. I have lots of coins in the house. Is it time to switch to Commerce?

 

[benorbeen]

Commerce Bank will let you use their Penny Arcade thing even if you're not a customer. It was fast and easy and hasslefree, Michelle.

 

[xxKewlGuyxx]

Wamu all the way! I think most of the fun in having Wamu as your bank comes from being able to say 'wamu.' But they also have a decent amount of branches and they give you free checks for life! You can just sit at home and rip up check after check and they'll mail you more. If that isn't a reason to switch banks...

 

[benzado]

I followed my plan and switched to TD Banknorth, which is now the parent company of Commerce Bank. At the end of every month they refund my ATM fees, meaning that if I need cash, any ATM in the city is as good as any other, whether it belongs to another bank or a sketchy bodega.

TD only has 2 branches in all of New York City, but after you open the account you can also conduct business at Commerce branches as well. Eventually they will merge everything into TD Commerce Bank and maybe the ATM refunds will go away but until then it is a pretty sweet deal.

 

[MichelleD]

The point is that I am currently unsatisfied with "WaMu." I am seriously considering Commerce, as they are opening a new branch near my office.

 

[Cindee]

Wamu all the way! I think most of the fun in having Wamu as your bank comes from being able to say 'wamu.' But they also have a decent amount of branches and they give you free checks for life! You can just sit at home and rip up check after check and they'll mail you more. If that isn't a reason to switch banks...

WaMu is the least safe bank to have an acct in right now. They have lost a lot of money (3Billion) this quarter due to lending, and there has been talk of shuttering.

I'd reconsider ripping up those checks.

I've been with Chase my entire banking life and I have been very happy.

 

[ScottF]

I loved commerce when it opened in NYC, and opened a wamu account when I moved to L.A. I must have mis-read or ignored the letter when it came, but at some point in the last year Commerce started charging $15.00 a month if your check account balance for the previous statement balance cycle was under $100.00. That meant even if you brought it up to $100 but the last statement was <100, you got charged. And since I wasn't paying attention figuring I'll just close the account next time I'm in NYC, that was a $45.00 with lots of scrambled internet transaction activity bummer.

As for Wamu, I'm not sure, but I think the home lending division is a separate biz from the bank, and they're insured if something does happen.

Chase was my early NYC bank and I wasn't happy then, but I realize it's not even the same company now as then.

 

[youngcat]

Wachovia is great. So is HSBC, I've banked with both of them over the years. The biggest advantage wachovia has over HSBC is they really are a national bank, which means if you go to jersey, or pennsylvania, or Florida, etc.. you cvan find an atm and not pay the fees.

Their online banking rocks, too.

bill pay is super easy.