|
Replies: 18
| visibility 1
|
Heisman Winner [105622]
TigerPulse: 100%
Posts: 65212
Joined: 12/2/02
|
Let's Talk Banking (non-stock market crap)
1
May 3, 2023, 1:03 PM
|
|
Greenr, bless his heart, is using the same small town bank he has used since his daddy was an employee there and helped Greenr set up at account around 14 years old. This bank, in the last 6 months, has come into the 21st century by offering MOBILE DEPOSIT and other decent options on a new-fangled phone app. However, there are limits on the mobile deposit, $1500 maximum to be exact. Greenr has moved away from that local bank and continuing to use them could become problematic.
FFW to now. Greenr is about to get some check(s) from various places for his mother's estate finally closing (13 months since she died) and those checks will probably be over $1500. Greenr is considering an ONLINE option such as Ally, Sofi, etc.
Do any of you guys use online-only banking? I RARELY need a branch to visit. Last few real estate deals have all been 95% online until closing. Ally has a decent return on a savings account, much better than small hometown bank.
Also considering keeping small hometown bank and squirreling away money there, out of sight, out of mind kind of thing.
Thanks for offering your wonderful advice.
|
|
|
|
 |
Oculus Spirit [79260]
TigerPulse: 100%
Posts: 24944
Joined: 8/29/12
|
I deposit all my checks online.
2
May 3, 2023, 1:08 PM
|
|
Except for when I sold my house cause that one was way too big. But those are rare cases (at least for me) when you've got checks for hunnids of thosands of doll hairs. I've cashed a few tax returns that were high thousands. It just takes longer for it to hit your account, and they move it in installments rather than all at juance. I use Bank of America btw.
|
|
|
|
|
|
Oculus Spirit [85339]
TigerPulse: 100%
Posts: 24920
Joined: 5/21/14
|
When I sold my house it was easy, I just had to
May 3, 2023, 1:10 PM
|
|
WRITE a check for $8,000. It was awesome.
|
|
|
|
|
|
Oculus Spirit [79260]
TigerPulse: 100%
Posts: 24944
Joined: 8/29/12
|
Well that don't seem to make sense now does it?***
1
May 3, 2023, 1:39 PM
|
|
|
|
|
|
|
|
Oculus Spirit [85339]
TigerPulse: 100%
Posts: 24920
Joined: 5/21/14
|
Something like this
May 3, 2023, 1:47 PM
|
|
Appraised for 190
Purchased for 175 (30 year, 0 down, first time homeownerthingy)
Sold for 165.
4% realtor fees = 6600
165-6.6 = 158.4
Amt owed after 5 years ownership = 165K
So I brought a check to closing essentially to pay the realtor fees and got $0 out of the house.
|
|
|
|
|
|
Oculus Spirit [79260]
TigerPulse: 100%
Posts: 24944
Joined: 8/29/12
|
I've only sold 2 houses, but I've never not made money on
1
May 3, 2023, 2:36 PM
|
|
them. First one I owned for 5 years and then this one was 7 years.
|
|
|
|
|
|
110%er [7004]
TigerPulse: 100%
Posts: 2275
Joined: 9/2/21
|
To answer your question, I love Ally's high interest
2
May 3, 2023, 1:08 PM
|
|
savings account. I believe it is 3.75% right now, which is great. That said, I use it mostly for an emergency fund rather than a daily checking account. I think it has a monthly transactional limit, though I've never run up against it. The checking accounts may not have that limit. The transfers can take a few days to deposit.
If you are looking for a place to keep money out of sight and out of mind, Ally is the way to go.
For other options, I recently left Wells Fargo for Oakworth Capital Bank. I don't know if they service your area but it has zero ATM fees and mobile deposits for all checks. The customer service is OUTSTANDING. I called them yesterday with a question and had a real person pick up the phone on the first ring.
|
|
|
|
|
|
Orange Blooded [4616]
TigerPulse: 100%
Posts: 2260
Joined: 1/12/01
|
I use Wells Fargo and never go inside a branch
May 3, 2023, 1:16 PM
|
|
My account is $25000 daily deposit for checking, $5000 for savings - I always use the mobile app for depositing any checks. And I use the ATM for cash occasionally. I like having a big bank for day to day cash needs. I have a Capital One online savings, and Schwab money market for the better interest rates...
|
|
|
|
|
|
All-In [47799]
TigerPulse: 100%
Posts: 44519
Joined: 9/5/02
|
tired of paying for ATM are you? well, you've ### to
May 3, 2023, 1:16 PM
|
|
the right place for [ad] vice.
|
|
|
|
|
|
Heisman Winner [105622]
TigerPulse: 100%
Posts: 65212
Joined: 12/2/02
|
Oh, I don't even use ATMs. If I need cash, I get it as
1
May 3, 2023, 1:21 PM
|
|
cash back at the grocery store
|
|
|
|
|
|
Heisman Winner [135617]
TigerPulse: 100%
Posts: 91644
Joined: 12/6/98
|
With the imminent collapse of the American banking system
3
May 3, 2023, 1:16 PM
|
|
on the horizon, I would suggest that instead of risking everything you have with a bank you should dump everything you have into something tangible...like Pokemon cards. I would have said Beanie Babies in the past, but that market is now flooded and will surely crash sooner rather than later.
|
|
|
|
|
|
All-In [47799]
TigerPulse: 100%
Posts: 44519
Joined: 9/5/02
|
lmao. there's a *store* up the street from me that
May 3, 2023, 1:19 PM
|
|
Specializes in pokemon cards. they also offer baseball cards. This is a very high rent location and I can't understand how they stay in business.
I appreciate the Beanie Baby analogy and that helps explain the fad I suppose.
|
|
|
|
|
|
All-In [49176]
TigerPulse: 100%
Posts: 27604
Joined: 8/10/02
|
money laundering.***
May 3, 2023, 1:33 PM
|
|
|
|
|
|
|
|
All-In [47799]
TigerPulse: 100%
Posts: 44519
Joined: 9/5/02
|
yeah, that what we joke. I'd say drugs but I never see
May 3, 2023, 1:36 PM
|
|
anyone in there
|
|
|
|
|
|
All-In [49176]
TigerPulse: 100%
Posts: 27604
Joined: 8/10/02
|
I was with BoA when they closed all branches here. I stayed
May 3, 2023, 1:39 PM
|
|
with them for a few years with no problems, until they made me mad on an unrelated issue. (I had a business credit card just to consolidate all my business expenses on one statement for tax time. They suddenly cancelled it with no explanation, while I was on a business trip)
The only issue I had for those years was larger amounts of cash than the limit of cash back at the grocery store. Like a drug deal, buying something off Craigslist, etc. Or depositing actual cash, like from a drug deal, selling something on Craigslist, etc.
|
|
|
|
|
|
All-In [31518]
TigerPulse: 100%
Posts: 10211
Joined: 1/28/15
|
Re: Let's Talk Banking (non-stock market crap)
1
May 3, 2023, 1:41 PM
|
|
It’s nice to have a branch nearby, but only once or twice a year max do you have that need. Biggest thing for me is high interest on savings. Bank I’m with now gives me 4.75 on a money market account for my savings, which I appreciate and keeps me loyal.
|
|
|
|
|
|
Associate AD [828]
TigerPulse: 94%
Posts: 3982
Joined: 4/14/09
|
Re: Let's Talk Banking (non-stock market crap)
May 3, 2023, 3:59 PM
|
|
I mostly do everything on-line, but I really like that I know the staff at the local branch and that they can helpfully answer questions when I would otherwise use a financial advisor. They also can notarize whatever needs notarized.
|
|
|
|
|
|
All-In [42907]
TigerPulse: 100%
Posts: 10448
Joined: 3/1/18
|
Get thee to a Credit Union. I use Truliant FCU and have
May 3, 2023, 5:42 PM
|
|
since I was wee Kenneth. Their mobile app is great, I haven't been to a branch in years. You can deposit up to $7500 check on the app.
Also they have an online money organization tool that lets you categorize everything you spend, including charges to all of the credit cards and outside accounts you want to connect.
This is how i know I spend 69% of my money on Blow and 4.20% on Hookers.
|
|
|
|
|
|
Recruit [85]
TigerPulse: 95%
Posts: 60
Joined: 9/3/16
|
Re: Let's Talk Banking (non-stock market crap)
May 3, 2023, 10:11 PM
|
|
Greenr, bless his heart, is using the same small town bank he has used since his daddy was an employee there and helped Greenr set up at account around 14 years old. This bank, in the last 6 months, has come into the 21st century by offering MOBILE DEPOSIT and other decent options on a new-fangled phone app. However, there are limits on the mobile deposit, $1500 maximum to be exact. Greenr has moved away from that local bank and continuing to use them could become problematic.
FFW to now. Greenr is about to get some check(s) from various places for his mother's estate finally closing (13 months since she died) and those checks will probably be over $1500. Greenr is considering an ONLINE option such as Ally, Sofi, etc.
Do any of you guys use online-only banking? I RARELY need a branch to visit. Last few real estate deals have all been 95% online until closing. Ally has a decent return on a savings account, much better than small hometown bank.
Also considering keeping small hometown bank and squirreling away money there, out of sight, out of mind kind of thing.
Thanks for offering your wonderful advice.
I've used Ally for 6 years after switching from a small town bank. Would recommend...good rates, no maintenance fees, no charge for checks, mobile app is solid.
Only downsides are rare...~2 weeks if you need a certified check (e.g., car / boat purchase from private party) and cannot mobile deposit checks over $50k.
|
|
|
|
|
|
Replies: 18
| visibility 1
|
|
|
50
