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Where should I open a new savings account?

Home ▸ Archive ▸ Serious Business ▸ Where should I open a new savings account?
baseball4's avatar

baseball4

Senior Member

279 posts
Nov 16, 2011 5:59 AM
I currently back at Chase, but I'm tired of all the BS fees they have. Any of you have a savings account at a bank you would recommend? I mean, I'm trying to save money and make money on the interest for keeping my money in their bank. Chase wants to charge me every time I touch it. They've also been charging me a monthly credit card fee and I have a 0 credit card balance. I paid it off completely in May yet they kept charging me a monthly fee.

Any suggestions??
Nov 16, 2011 5:59am
ernest_t_bass's avatar

ernest_t_bass

12th Son of the Lama

24,984 posts
Nov 16, 2011 6:45 AM
I'll hold it for you
Nov 16, 2011 6:45am
Curly J's avatar

Curly J

Self Pwner in Training.

7,282 posts
Nov 16, 2011 7:09 AM
ernest_t_bass;974931 wrote:I'll hold your dick for you
fify
Nov 16, 2011 7:09am
M

MontyBrunswick

Nov 16, 2011 8:43 AM
baseball4;974926 wrote:I currently back at Chase, but I'm tired of all the BS fees they have. Any of you have a savings account at a bank you would recommend? I mean, I'm trying to save money and make money on the interest for keeping my money in their bank. Chase wants to charge me every time I touch it. They've also been charging me a monthly credit card fee and I have a 0 credit card balance. I paid it off completely in May yet they kept charging me a monthly fee.

Any suggestions??

Find a credit union. They're not out to make money like banks are.
Nov 16, 2011 8:43am
baseball4's avatar

baseball4

Senior Member

279 posts
Nov 16, 2011 8:56 AM
A friend of mine suggested ING. I know nothing about them but I'll do some research. He said they have .89% interest and that there aren't any fees. That's really all I'm after. I hate the way Chase charges for everything.
Nov 16, 2011 8:56am
M

MontyBrunswick

Nov 16, 2011 8:58 AM
baseball4;975035 wrote:A friend of mine suggested ING. I know nothing about them but I'll do some research. He said they have .89% interest and that there aren't any fees. That's really all I'm after. I hate the way Chase charges for everything.
Where you live would help, too.
Nov 16, 2011 8:58am
ZWICK 4 PREZ's avatar

ZWICK 4 PREZ

Senior Member

7,733 posts
Nov 16, 2011 8:59 AM
dlazz;975018 wrote:Find a credit union. They're not out to make money like banks are.
any business is out to make money or they wouldnt stay in business.
Nov 16, 2011 8:59am
bases_loaded's avatar

bases_loaded

Senior Member

6,912 posts
Nov 16, 2011 9:00 AM
baseball4;974926 wrote:I currently back at Chase, but I'm tired of all the BS fees they have. Any of you have a savings account at a bank you would recommend? I mean, I'm trying to save money and make money on the interest for keeping my money in their bank. Chase wants to charge me every time I touch it. They've also been charging me a monthly credit card fee and I have a 0 credit card balance. I paid it off completely in May yet they kept charging me a monthly fee.

Any suggestions??

Did they enroll you in some protection plan BS? If so that's your monthly fee
Nov 16, 2011 9:00am
M

MontyBrunswick

Nov 16, 2011 9:02 AM
ZWICK 4 PREZ;975040 wrote:any business is out to make money or they wouldnt stay in business.
Banks put profit as #1 priority, Credit Union's put members as #1 priority.
Nov 16, 2011 9:02am
Pick6's avatar

Pick6

A USA American

14,946 posts
Nov 16, 2011 9:03 AM
ZWICK 4 PREZ;975040 wrote:any business is out to make money or they wouldnt stay in business.
not according to these wall st protestors...shhhh
Nov 16, 2011 9:03am
sleeper's avatar

sleeper

Legend

27,879 posts
Nov 16, 2011 9:05 AM
dlazz;975047 wrote:Banks put profit as #1 priority, Credit Union's put members as #1 priority.
Just because they are non-profit doesn't mean they aren't out to make money. They just call the profit "surplus" and don't pay any taxes.
Nov 16, 2011 9:05am
M

MontyBrunswick

Nov 16, 2011 9:06 AM
sleeper;975053 wrote:Just because they are non-profit doesn't mean they aren't out to make money. They just call the profit "surplus" and don't pay any taxes.
Right, but they also flip you a dividend at the end of the year.

Apparently I'm the only one who is a member of a credit union.
Nov 16, 2011 9:06am
ZWICK 4 PREZ's avatar

ZWICK 4 PREZ

Senior Member

7,733 posts
Nov 16, 2011 9:07 AM
dlazz;975047 wrote:Banks put profit as #1 priority, Credit Union's put members as #1 priority.
I could see that a Credit Union may be more "member friendly" but both see profit as #1 priority..they have to. The only difference would be possibly that a Credit Union doesn't hold profit as high of a standard as a typical bank would who have to answer to investors where the members are the investors at a Credit Union. But to think a Credit Union won't have fee's or even possibly gouge you, just because they are a Credit Union, would be a false assumption.
Nov 16, 2011 9:07am
sleeper's avatar

sleeper

Legend

27,879 posts
Nov 16, 2011 9:08 AM
dlazz;975055 wrote:Right, but they also flip you a dividend at the end of the year.

Apparently I'm the only one who is a member of a credit union.
I'll take a national network of banks, and ease of access to my money over some lousy dividend.
Nov 16, 2011 9:08am
ZWICK 4 PREZ's avatar

ZWICK 4 PREZ

Senior Member

7,733 posts
Nov 16, 2011 9:10 AM
dlazz;975055 wrote:Apparently I'm the only one who is a member of a credit union.
I'm a member of a Credit Union and a bank. The reason I'm a member of both is b/c the Credit Unions services are very limited compared to a banks. Both have similar kinds of fee's though.
Nov 16, 2011 9:10am
M

MontyBrunswick

Nov 16, 2011 9:14 AM
sleeper;975059 wrote:I'll take a national network of banks, and ease of access to my money over some lousy dividend.
Most credit unions are members of credit union networks. If I wanted to drive to Montana and withdraw $5000 from my account, I could.

In my experience, I've had better luck with CU's than banks...I use a CU exclusively.
Nov 16, 2011 9:14am
sleeper's avatar

sleeper

Legend

27,879 posts
Nov 16, 2011 9:15 AM
dlazz;975068 wrote:Most credit unions are members of credit union networks. If I wanted to drive to Montana and withdraw $5000 from my account, I could.

In my experience, I've had better luck with CU's than banks...I use a CU exclusively.
Cool. Whatever works for you.
Nov 16, 2011 9:15am
baseball4's avatar

baseball4

Senior Member

279 posts
Nov 16, 2011 9:19 AM
bases_loaded;975043 wrote:Did they enroll you in some protection plan BS? If so that's your monthly fee
I'm going through the application right now.

For whoever it was that asked, I live in Grove City, Ohio.

I may only touch this account a couple of times a year. For me, it'll be a way to save up for a new car and save for the future. Not necessarily something I'll be getting into a lot.
Nov 16, 2011 9:19am
M

MontyBrunswick

Nov 16, 2011 9:27 AM
baseball4;975082 wrote:For whoever it was that asked, I live in Grove City, Ohio.
FWIW: Credit Union of Ohio serves central Ohio. There's a branch in Grove City.

There's another one in central Ohio but I can't think of the name of it.

More FWIW: The APY on a savings acct with CU of O is 0.10%
Chase is 0.01%
Nov 16, 2011 9:27am
Mooney44Cards's avatar

Mooney44Cards

Senior Member

2,754 posts
Nov 16, 2011 9:36 AM
What about USAA?

Contrary to popular belief, you don't actually have to be in the military to belong. I've heard from several sources that they have awesome customer service. And apparently you can make a deposit at any UPS store.

Also why are we talking about easy access to your money if its for a savings account?
Nov 16, 2011 9:36am
baseball4's avatar

baseball4

Senior Member

279 posts
Nov 16, 2011 9:36 AM
Yeah, Chase is horrible. I'm not going to go through the headache of pulling my checking account from them because shockingly enough they don't charge any fees on my checking account. I will no longer use my credit card through them and will not open a savings account.
Nov 16, 2011 9:36am
baseball4's avatar

baseball4

Senior Member

279 posts
Nov 16, 2011 9:38 AM
Mooney44Cards;975117 wrote:Also why are we talking about easy access to your money if its for a savings account?
I may only touch this account a couple of times a year. For me, it'll be a way to save up for a new car and save for the future. Not necessarily something I'll be getting into a lot.
Nov 16, 2011 9:38am
U

UANyg

Senior Member

265 posts
Nov 16, 2011 9:51 AM
I would highly suggest ING. I have a savings account with them, and .90% APY interest is one of the best out there. The one draw back is you have to wait like 2 business days for money to transfer out to another account if you want to withdraw, but for your situation that doesn't sound like a big deal.
Nov 16, 2011 9:51am
M

MontyBrunswick

Nov 16, 2011 10:06 AM
Might be able to find a money market account. They have higher returns (typically) .
Nov 16, 2011 10:06am