July 2, 20196 yr Finally got tired of the high fees, shitty service and general zero fucks given from my hometown brick and mortar. Been with them since 1974. Did some looking around and decided to go with Simple. They're a branch of BBVA and have decent interest rate checking with no minimum balance. I'm sure the customer service can't be worse than what I'm getting now and at least I'll make 2% on my deposits. Who are you using? (include account and routing numbers)
July 2, 20196 yr balances, I’ve been with BofA since 86. Not switching now. Of course, if you maintain real balances, there are no fees.
July 2, 20196 yr 22 minutes ago, Sbbruin said: balances, I’ve been with BofA since 86. Not switching now. Of course, if you maintain real balances, there are no fees. Yes but if you have decent amount of money there, you’re losing money since they don’t pay interest. however like you I’ve been with the same bank since 88: Chase via Bank One.
July 2, 20196 yr Amegy via Southwest Bank of Texas (12 accounts; 3 personal and 9 bidness) Plains Capital via Bank of River Oaks (1 bidness account) Dont encounter a lot of fees on personal stuff with Amegy due to knowing my officer well. Business is another story. If I really bitch and moan my officer will get some fees waived but it's a lot of give and take with me having to constantly stay after them.
July 2, 20196 yr i like the chuckie schwab but i dont use them for anything but online banking and a bit of brokerage services
July 2, 20196 yr 38 minutes ago, Nice Guy Eddie said: Yes but if you have decent amount of money there, you’re losing money since they don’t pay interest. however like you I’ve been with the same bank since 88: Chase via Bank One. They pay interest; I get interest on both my checking and savings. It isn’t much, but they do pay something.
July 2, 20196 yr USAA for checking Barclays for online savings Wealthfront for personal Roth IRA outside of company managed Voya 401k
July 2, 20196 yr I use E*Trade for 11 personal accounts (combo of checking, savings, brokerage, IRAs) they are good and I don't pay any fees and get ATM charges refunded.
July 2, 20196 yr 16 minutes ago, LebongJames said: USAA for checking Barclays for online savings Wealthfront for personal Roth IRA outside of company managed Voya 401k I'm close to this - I used to use a local Credit Union for Savings/CD but their security was hacked twice so I moved my savings to USAA in addition to checking. I rolled my personal IRA into my company managed Fidelity 401k but also keep a separate TSP fund that outpaces everything else I have experienced (prolly because there's no corporate margin to grow). On a hunch, I'm going to open an international account in China (under one of the big four there, most likely BoC or ICBC), it won't be much but it will be a start.
July 2, 20196 yr 8 minutes ago, Grippe said: I rolled my personal IRA into my company managed Fidelity 401k First of all, didn't know you could do this. Second, why would you? An IRA is more flexible (beneficiary designation, investment choice, etc. etc.) than a 401k. The only reason I can think of for doing it is that a 401k is more absolutely exempt from creditor claims than an IRA (IRAs depend on state law for exemption and are exempt in Texas). I suppose you can borrow against a 401k and not an IRA, but yeesh.
July 2, 20196 yr Yes, you can - the fact that my personal IRA was with Fidelity made it easy (in-company transfer of assets). As to why - for early retirement, the penalty for borrowing/withdrawing was significantly less on the 401k than the IRA. The numbers aren't astronomical (below 7 figures) but the timing (wanting to retire before 60 which is coming up fast) helped it make sense.
July 2, 20196 yr First of all, didn't know you could do this. Second, why would you? An IRA is more flexible (beneficiary designation, investment choice, etc. etc.) than a 401k. The only reason I can think of for doing it is that a 401k is more absolutely exempt from creditor claims than an IRA (IRAs depend on state law for exemption and are exempt in Texas). I suppose you can borrow against a 401k and not an IRA, but yeesh.Nm- answered my own question
July 2, 20196 yr Local credit Union. Banking isn't what it used to be but to me this is as close as I can get.
July 2, 20196 yr CapitalOne360 has all my money parked in it, the 360 MoneyMarket is paying 2% interest, which is pretty nice. I haven't seen a place with a higher rate.
July 2, 20196 yr I use Ally for my every day banking needs. Money market savings at 2.2% and a checking account for when I need to pay my lawn guy.
July 2, 20196 yr 11 hours ago, RPM said: Finally got tired of the high fees, shitty service and general zero fucks given from my hometown brick and mortar. Been with them since 1974. Did some looking around and decided to go with Simple. They're a branch of BBVA and have decent interest rate checking with no minimum balance. I'm sure the customer service can't be worse than what I'm getting now and at least I'll make 2% on my deposits. Who are you using? (include account and routing numbers) I have a simple account, but there's one problem; you can only photo deposit checks up to $3000. Just about every check I get is more than $3000, and the only alternative is to deposit by mail, which takes a few days. It's the only drawback that I've found with simple. I don't work for The Man, so direct deposit isn't an option. Edited July 2, 20196 yr by Gil Bang
July 2, 20196 yr A bank with lots of branches Near you with lots and lots of staff. That kind of overhead directly translates to more money in your pocket.
July 2, 20196 yr 9 hours ago, Grippe said: Yes, you can - the fact that my personal IRA was with Fidelity made it easy (in-company transfer of assets). As to why - for early retirement, the penalty for borrowing/withdrawing was significantly less on the 401k than the IRA. The numbers aren't astronomical (below 7 figures) but the timing (wanting to retire before 60 which is coming up fast) helped it make sense. Terminate employment and over 55?
July 3, 20196 yr 23 hours ago, dlatin said: CapitalOne360 has all my money parked in it, the 360 MoneyMarket is paying 2% interest, which is pretty nice. I haven't seen a place with a higher rate. Plenty of Free Checking accounts with higher than 3% interest, if you meet qualifications. This one in Austin pays 3.5: https://www.bankkeystone.com/
July 3, 20196 yr 2nd for Amegy via Southwest Bank.3rd for Amegy via SWBofT, I go even further back to. Northwest Crossing Bank
July 8, 20196 yr On 7/3/2019 at 12:25 PM, gurt said: Plenty of Free Checking accounts with higher than 3% interest, if you meet qualifications. This one in Austin pays 3.5: https://www.bankkeystone.com/ Thanks - I don't see the rates or qualifications at keystone, but it doesn't matter since I'm not a resident of the select counties. I've found some higher rates but there are often caps.
July 8, 20196 yr 3.5% is pretty impressive. I would have to think they can't sustain that for long but nothing wrong with taking advantage of a promo rate. There is some criteria on spending transaction but they don't seem difficult.
July 10, 20196 yr On 7/8/2019 at 1:02 PM, HRSchenker said: 3.5% holy shit! That's a whole percent higher than VMMXX On 7/8/2019 at 1:34 PM, Nice Guy Eddie said: 3.5% is pretty impressive. I would have to think they can't sustain that for long but nothing wrong with taking advantage of a promo rate. There is some criteria on spending transaction but they don't seem difficult. These things are called "reward checking accounts". Google that phrase and you'll find plenty of them. Was a big fad 10-ish years ago but ultralow interest rates killed most of them off. Who wants to jump through a bunch of hoops for 1.5% interest? I suppose they're coming back now that rates are up a bit. Usually the rate is only good on a certain amount of money (e.g. first $20k) and you have to do 10-20 debit card transactions per month to get the interest. They're legit, and if you follow all the requirements to a T, can pay off pretty nicely. I used to fuck with them a lot, but they're usually at really tiny (think 1 branch) banks which tend to come and go. I got tired of changing banks every 18 months (or more accurately, explaining to my wife why we need to change banks every 18 months). Most of the banks are hoping to bring in a bunch of new customers quickly in a short period of time, then they start fucking with the requirements and rates hoping you'll be too lazy to move on. You can do almost as well with high-yield online savings accounts with about 5% of the hassle. I keep most of our cash in one of those now and just enough for day-to-day operations in a (regular) checking account. Edited July 10, 20196 yr by tokamak
July 11, 20196 yr I've been looking around at changing mainly because I currently use a local bank which only has branches in the immediate area and will need something that has presence both here in the Corpus area and the San Antonio/ Austin area pending a future move up there and a business start somewhere in the vicinity. I already scratched the big national banks. Screw them as they don't even have real decision makers at some of their bigger locations. Then it's the more Texas based banks like IBC, Frost, etc and they have their pros and cons. But I've also looked at the Credit Unions like RBFC, Security Service and I'm getting inclined to go with one of them. One thing they do well is if you need to get a loan or mortgage and you have an account with them, they can get you the better interest rates and in some cases expedite the process along . Plus they have an ATM network with other credit unions which don't charge service fees. They built those networks up when many of these credit unions focused primarily on military affiliated individuals as their customer base and kept them as a cornerstone as they've opened their memberships up to the general public at large.
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