Big Name Bank

[Arab Nights (imported)]

I recently closed an account which was a hangover from the boom years. The interest that they tell you was about what you would expect from a credit card (borderline usary). Then you add in the fees which they do not say much about and it gets totally ridiculous. I went down to payoff the card. My previous payment was three weeks ago. I handed over the money and the banker quoted an additional dollar amount which amounts to 40% on an annual basis. I asked for an explanation. She told me casually that she did not understand how they calculated things. This is a major, major bank, by the way.

So far I have narrowed my next account down to Sun Bank (Walmart - I know, but Costco does not have a bank) and the local savings and loan.

Are people in other states finding that the local banker or S&L is by far the best and least abusive deal out there?

[Uncle Flo (imported)]

I do my financial business through two credit unions. --FLO--

[Riverwind (imported)]

As soon as I get my check on the third I am moving my account from a bank to a credit union for many of the same reasons.

River

[bobover3 (imported)]

It's always been true that credit unions, S&Ls, and small local banks offered the best deals to ordinary people.

It's been in the news for the last year or more that the big banks were trying to offset their losses on mortgages, etc., by nickel and diming their customers with fees. They do this very aggressively and shamelessly. Most people are unwilling to take the trouble of moving their accounts, so the banks exploit that.

Check out Amalgamated Bank. This New York bank was founded for the convenience of union members and working people. If you're willing to bank remotely, you might get a good deal there.

https://www.amalgamatedbank.com/home/home

[moi621 (imported)]

I like my Union Bank of California

owned by Japan.

As a priority customer I get to sit down at a desk to conduct business and rarely wait in line.

No Bank, Savings and Loan etc. offers any interest rates worth competing over.

Moi

[Losethem (imported)]

It's always been true that credit unions, S&Ls, and small local banks offered the best deals to ordinary people.

It's been in the news for the last year or more that the big banks were trying to offset their losses on mortgages, etc., by nickel and diming their customers with fees. They do this very aggressively and shamelessly. Most people are unwilling to take the trouble of moving their accounts, so the banks exploit that.

*gasp* Finally, something Bob and I agree on.

Did the sun rise in the west this morning?

[butterflyjack (imported)]

I have my mortgage, savings and checking in a little local bank now for 25 years...They are very conservative, as I think a bank should be..You can sit down anytime and talk about anything bank related with a bank exec..

I also do business (car loans, savings) with a local credit union...

I have heard of the Amalgamated Bank....sounds good.....dragonfly

[A-1 (imported)]

*gasp* Finally, something Bob and I agree on.

Did the sun rise in the west this morning?

Well, no. But I have this *feeling* that one would have to rise real early in the morning and study *real* hard before one could make as wise a money decision as Bob3 usually makes...naturally...

[Arab Nights (imported)]

So I got my card statement in the mail yesterday. Turns out they wanted another $13 for interest after I had paid off the account. That probably brings it up to about 50% annual rate. I paid $20 and said that I never want to come back again. I can hardly wait till next month to see what interest they charge on a closed account with a small positive balance.

[KimiRhoze (imported)]

I once read that overpayment of first premier credit cards was excuse enough for them to suspect illegal activity in your account and shut the account down without refunding the money lol