Comments on: Bank Accounts Aren’t Just About Great Rates

By: Bill

Bill — Tue, 23 Feb 2010 17:53:47 +0000

For me, the deciding factor in choosing who to bank with is the customer service and the quality of assistance offered by staff. Most of the other factors; fees, limits etc, don’t tend to vary much from one bank to the next. Customer service, on the other hand, varies drastically. I’m tempted to drop some names of the worst performers, but I’d rather just let them fade into oblivion.

By: Ken

Ken — Thu, 18 Feb 2010 05:09:28 +0000

Similar to transfer limits, an online bank’s transfer features are important. Some internet banks require you to mail in a voided check to create a link to an external account. I much prefer the trial deposit method. Transfer speed is another important feature.

By: Kyle

Kyle — Tue, 16 Feb 2010 18:17:05 +0000

Stability is definitely important. One of the first online savings accounts I opened was with a startup online bank called On Bank. They had super high rates when they first started out, now their rates are something like .50%.

By: Daniel

Daniel — Tue, 16 Feb 2010 17:47:29 +0000

For me, checking and savings accounts are in completely separate categories.

For checking accounts, I need ATMs that are easily accessible, that have no fees, and are easy to use online.

For savings accounts, I usually look for the highest rate but that lets me transfer money freely. I don’t go rate hunting, but as long as it’s in the top tier, I’m ok.

I hate Bank of America, but it’s so damn convenient that I keep it. I hope that one day I’ll leave them.

ING is my primary checking account, where I get my paychecks deposited to and where I transfer money and pay bills. Everything flows through it and if they had more ATMS in my area, they would be my only checking account.

SmartyPig is where I have my savings accounts. I don’t touch that money.

By: RJ Weiss

RJ Weiss — Tue, 16 Feb 2010 17:07:26 +0000

Customer service is a big one for me.

A majority of my savings is online, but I still continue to go to a local bank because of their customer service. Even though I know I can get better rates somewhere else.

The only other thing I would add is stability. I’m not a huge fan of newer banks or banks that are just entering a new market like online banking.