Author Topic: Pros and Cons of Different Banks  (Read 4179 times)

Offline ludmila

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Re: Pros and Cons of Different Banks
« Reply #30 on: July 16, 2018, 07:20:02 PM »
I have a business account with smallbusinessbank.com (not my only business account). Only bank I found that offered a desktop check scanner option with no monthly fees. You could buy your own scanner, or get one from them for a $400 deposit IIRC.

Their online interface is very outdated (though quite functional for certain things), and the mobile app leaves a lot to be desired, but if you're looking for low volume, no cash, and desktop deposits in a business account without a monthly fee, smallbusinessbank.com might be your answer.
Thanks, will look at it.
I was the Best,still the Best, and will always be the Best.
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Offline yesitsme

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Re: Pros and Cons of Different Banks
« Reply #31 on: November 06, 2018, 09:19:33 AM »
Hate
Sovereign Bank (Santander Bank)

Offline yesitsme

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Re: Pros and Cons of Different Banks
« Reply #32 on: January 01, 2019, 09:30:18 AM »
Hate
Sovereign Bank (Santander Bank)
I just get frustrated every time I use them

Offline davidrotts63

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Re: Pros and Cons of Different Banks
« Reply #33 on: January 01, 2019, 09:32:33 AM »
Love them. So personal.
(Quit) pulling out the flowers, and watering the weeds. -Peter Lynch

Offline yesitsme

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Re: Pros and Cons of Different Banks
« Reply #34 on: January 01, 2019, 09:48:15 AM »
Love them. So personal.
you also have chase?

Offline davidrotts63

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Re: Pros and Cons of Different Banks
« Reply #35 on: January 01, 2019, 09:49:16 AM »
(Quit) pulling out the flowers, and watering the weeds. -Peter Lynch

Offline yesitsme

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Re: Pros and Cons of Different Banks
« Reply #36 on: January 01, 2019, 09:58:20 AM »
Yes.
their UI sucks, their sms commands sucks, if you schedule a payment its hard to see that you have a pending payment, to activate otp online says to call in after calling they tell you go to the branch...

Chase is a breeze

Offline davidrotts63

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Re: Pros and Cons of Different Banks
« Reply #37 on: January 01, 2019, 10:00:56 AM »
their UI sucks, their sms commands sucks, if you schedule a payment its hard to see that you have a pending payment, to activate otp online says to call in after calling they tell you go to the branch...

Chase is a breeze
In that sense I agree. I see them as growing a lot in the future, fix their app, and site and theyll be amazing.
(Quit) pulling out the flowers, and watering the weeds. -Peter Lynch

Offline a good yeshiva bachur

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Re: Pros and Cons of Different Banks
« Reply #38 on: January 01, 2019, 11:39:25 AM »
I really like Schwab.
it is true that its owned by a jew? would that be an issue of ribis?


their sms commands sucks
i use them and wasnt aware of their commands, all i know is that they send a balance one a week...

Online ExGingi

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Re: Pros and Cons of Different Banks
« Reply #39 on: January 01, 2019, 08:06:51 PM »
« Last Edit: January 01, 2019, 08:11:24 PM by ExGingi »
I've been waiting over 5 years with bated breath for someone to say that!
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Online ExGingi

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Pros and Cons of Different Banks
« Reply #40 on: January 01, 2019, 08:53:59 PM »
Here are the banks on my list:

Citi - longest relationship, though just running $1 in bill pay and $1 in direct deposit to keep fee free. Biggest pro IMHO is how they handle online bill pay for payors that get a paper check. Unlike other banks there's no way for that to cause an inadvertent overdraft.

TD - been with them since the days they were commerce bank.
Pros - local branches and next day fund availability on check deposits (occasionally they'll put a hold until just before the end of the next business day, but that won't cause an NSF or NCF).

Cons - low limits (daily, weekly, monthly) on mobile check deposit, but that's mitigated a drop with their physical presence.

Chase - Opened to gain Freedom 10+10 a"h. Keeping open just because I have so many Chase CC. Keeping fee free with $250 monthly direct deposit.

Pros - Excellent technology, check and deposit images online.

Don't use the checking account much to be able to comment beyond this.

USAA - Opened at a time when they had it available to everyone (though without mobile deposit - which became available later, probably when they closed general available).

Pros - Excellent funds availability, high mobile deposit limits, ATM fee reimbursement, no fee for incoming wires, desktop deposit with any scanner, excellent ACH hub to move funds between accounts in various institutions with great funds availability.

Cons - Zelle only available on mobile app (as far as I can tell), low limits for Zelle transfers (though it's mitigated a drop with ACH functionality combined with funds availability and ATM fee reimbursement.

Schwab

Pros - Worldwide ATM fee reimbursement. Possibly other pros, but I opened the account solely for this purpose and fund on an as needed by ACH.

Cons - Need to open a brokerage account. No Zelle.

Fidelity - Recently opened after issues with CUs were raised, and was looking for a decent alternative for my HSA. Found their HSA to be better than the one I had with Elements Financial (Previously ELFCU - Eli Lilly Federal Credit Union), and once I was there I also opened a Cash Management Account for free outgoing wires.

Pros - Cash Management Account, can do trading and "checking" in single account (unlike Schwab that opens a Schwab Bank account and a separate linked Brokerage account), very competitive APR options available for Cash Balances, FREE outgoing USD wires.

Cons - Very cumbersome online interface, no Zelle, TERRIBLE funds availability, extremely long telephone wait times to speak to someone (might have been Year End related), international wires require sending in a form with instructions and potentially a week before it's available (also requires Medallion Signature Guarantee).

smallbusinessbank.com (aka Gardner Bank)

Pros - No fees or minimums for account or for Remote Check Capture.  Despite somewhat cumbersome interface, nice calendar view of bill-pay/ACH. Despite being an online bank, itís actually a one or two branch local community bank in MO (IINM), you can develop personal relationships.

Cons - Useless mobile app.
« Last Edit: January 01, 2019, 09:20:21 PM by ExGingi »
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline a good yeshiva bachur

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Re: Pros and Cons of Different Banks
« Reply #41 on: January 02, 2019, 08:46:31 AM »
https://m.nasdaq.com/symbol/schw/ownership-summary
i dont understand what this means (or how this answers my question)... can someone please explain?

Online ExGingi

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Re: Pros and Cons of Different Banks
« Reply #42 on: January 02, 2019, 08:54:15 AM »
i dont understand what this means (or how this answers my question)... can someone please explain?

You asked:

it is true that its owned by a jew? would that be an issue of ribis?

And I responded by showing you who actually owns it.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline shimmy

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Re: Pros and Cons of Different Banks
« Reply #43 on: January 02, 2019, 10:28:22 AM »
Any one have any opinion for a Business account??

Currently use etrade (which is pretty good),  but Not thrilled  with their business suite. I found it to be majorly lacking





« Last Edit: January 02, 2019, 10:33:12 AM by shimmy »

Online ExGingi

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Re: Pros and Cons of Different Banks
« Reply #44 on: January 02, 2019, 10:53:35 AM »
Any one have any opinion for a Business account??

Currently use etrade (which is pretty good),  but Not thrilled  with their business suite. I found it to be majorly lacking
I use TD Bank as well as smallbusinessbank.com

What are your needs?
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan