Lakewood NJ Master Thread

[ae123]

We don't like having accounts opened that we never asked for.

Is that something common?

[ae123]

I had an account with their predecessors from when I was a kid at The Savings Bank of Rockland which became First Fideltiy to First Union to Wachovia to Wells Fargo (I think a missed some in the middle). I used Wells Fargo and tolerated the poor service since the changeover from Wachovia until I dealt with an estate account with Chase and saw the difference in service. Once COVID hit, Wells Fargo branches basically ceased to exist. I've moved all of my banking to Chase and am very satisfied.

We were told that Chase charges monthly fees for checking and savings accounts while Wells Fargo doesn't.
Can that be confirmed?

[imayid2]

We were told that Chase charges monthly fees for checking and savings accounts while Wells Fargo doesn't.
Can that be confirmed?

Confirmed incorrect.

WF charges fees if your average balance is under 1500 in one month for checking and 300 for savings.

[yungermanchik]

We were told that Chase charges monthly fees for checking and savings accounts while Wells Fargo doesn't.
Can that be confirmed?

Chase has fees that can be avoided

CHECKING

Monthly Service Fee — $0 or $12
$0  with ONE of the following each monthly statement period:

Electronic deposits made into this account totaling $500 or more, such as payments from payroll providers or government benefit providers, by using (i) the ACH network, (ii) the Real Time Payment or FedNow℠ network, or (iii) third party services that facilitate payments to your debit card using the Visa® or Mastercard® network
OR
Have a balance at the beginning of each day of $1,500 or more in this account
OR
Have an average beginning day balance of $5,000 or more in any combination of this account and linked qualifying deposits /investments

SAVINGS


Monthly Service Fee — $0 or $5
$0 when you have any ONE of the following:

A balance at the beginning of each day of $300 or more in this account
OR, $25 or more in total Autosave or other repeating automatic transfers from your personal Chase checking account (available only through chase.com or Chase Mobile® app
OR, Chase College Checking℠ account linked to this account for Overdraft Protection
OR, an account owner who is an individual younger than 18
OR, a linked Chase Premier Plus Checking℠, Chase Sapphire℠ Checking, or Chase Private Client Checking℠ account
OR

$5 if none of these options are met

[EliJelly]

Chase is the best bank, but with the risk of getting your accounts shut with no-one really to talk to. 

[yungermanchik]

Chase is the best bank, .

-100
They don't pay any interest. There are many banks that are better. Their only Maalos is that they have the largest footprint and good credit cards.

[avromie7]

Is that something common?

It definitely was until they got caught.

Chase is the best bank, but with the risk of getting your accounts shut with no-one really to talk to. 

WF isn't any better in that regard.

[EliJelly]

-100
They don't pay any interest. There are many banks that are better. Their only Maalos is that they have the largest footprint and good credit cards.

Smaller banks offer interest in order to be visible. I'm talking about service, user friendliness and footprint, no one comes close.

[yungermanchik]

Smaller banks offer interest in order to be visible. I'm talking about service, user friendliness and footprint, no one comes close.

Capital one is not so small

[EliJelly]

Capital one is not so small

Still a fraction of Chase's footprint.

[HudZ]

Both are great in different ways. Each should do what is best for them.

[aygart]

Both are great in different ways. Each should do what is best for them.

Meanwhile nobody wrote an advantage to Wells Fargo

[HudZ]

Meanwhile nobody wrote an advantage to Wells Fargo

Well, according to Mr. ae123, it seems like there is...

[aygart]

Well, according to Mr. ae123, it seems like there is...

Not really

[aygart]

Well, according to Mr. ae123, it seems like there is...

Not really

[ae123]

Thanks for your above replies.
Very helpful.

Wells Fargo is currently offering 4.75% on a saving account with a minimum of 25k.
Also, 4.89% for a CD of 7 or 11 months, not sure the minimum.
Also, if accounts total more than 100k, no ATM fees worldwide & free checks. They call it Prime Account.
(I believe I got the above info correct, but obviously do your own research.)

Does Chase have similar?

[ae123]

They (Chase) don't pay any interest.

On savings, checking or CD?

[ae123]

Chase is the best bank, but with the risk of getting your accounts shut with no-one really to talk to.

Why would they do that?

[aygart]

Thanks for your above replies.
Very helpful.

Wells Fargo is currently offering 4.75% on a saving account with a minimum of 25k.
Also, 4.89% for a CD of 7 or 11 months, not sure the minimum.
Also, if accounts total more than 100k, no ATM fees worldwide & free checks. They call it Prime Account.
(I believe I got the above info correct, but obviously do your own research.)

Does Chase have similar?

3 months ago they offered similar to me

[ae123]

3 months ago they offered similar to me

Meaning Chase?