I’m trying to break up with US Bank because they charge me 2 dollars every time I use a check to pay rent. I didn’t choose this life and that 2 dollars could go towards avocado toast
@@joejuneman1460 - I know right? She's not responding back. We can help each other and I'm a US Bank customer. I definitely have insights. All I can do know is just guess and I don't want to do that.
@@crazymonky256 Some people dont have parents at all or the parents didn't get educated as good as most people. Not everyone has parents who will help them out with financial advice.
Cade Crowley, right?! My parents were financially savvy but for some reason reluctant to pass on their wisdom (in this particular area) to me... school could have done a lot more!!
Local banks aren’t like this. Only thing I pay for at my bank is replacement checks. To me, that’s understandable as they are customized to me. Interest rates are low here but they don’t fee me to death. I don’t understand why anyone would bank with a larger bank. Only reason is for business to have their bank in any area
Ignoring the million or so employees that would be out of a job if Big Bank went under; the government probably didn't want BOA, Chase, or Wells Fargo pulling the rug out from under the people with mortgages. There's a lot of fine print on those documents and large banks are super shady.
This is the reason why I only bank with Credit Unions. I suggest that you do a video comparing banks to credit unions. It is a big difference just in fees alone.
Royal Honey Ropes not at all. Obv every credit union has different requirements but most of them welcome anyone. Golden 1 CU in California only requires you to live in CA to be eligible. Really just depends on what credit unions are near you.
I don't think it's completely appropriate to apply a blanket statement here. If you threw a dart at a map of the US and opened an account with the bank/credit union with the nearest branch, you'd probably be better off by taking the credit union approach. But shitty credit unions do exist, and there are plenty of them. Some of them really don't do much better than the big banks on fees or the interest rates- and, more commonly, the overall experience is worse (i.e. poor app/website, lacking customer service, relatively inconvenient, etc.). Point being to do your research and determine which institution fits your needs the best.
Credit unions are good for personal accounts, but business accounts are pretty bad at credit unions. Chase has some good business accounts and i can link it to my QuickBooks. There statements are also significantly nicer to use.
I did customer service for a vendor company for many of these financial banks and I can confirm that these banks do not have their customer's interest in mind.
@@beans4269 Banks are the reasons as to why the entire world is in disarray. They use our hard earned money to build wealth for their investors and cares 0 no anything thing else
@@Aagggyy Forget the savings account. We have 4 checking accounts in our bank for 4 specific purposes. Cashback rewards checking: weekly spending Checking 2: Bills and Credit fund Checking 3: Rainy Day fund Checking 4: Investment transfers.
@@stillness4610 Interesting! Never thought having multiple checking accounts would be helpful in organized spending. Are all of these Discover accounts?
Omg i HATE CHASE! They have been holding my payroll check hostage for 5 days now. Let me remind you... my work.. BANKS WITH CHASE! They won’t clear my check since Friday. Keep blaming the “holiday” but my money has not cleared yet .. and It’s now Wednesday @ 330am est.. should be cleared. I hate them. So much
Zewmer That’s true. I’m still investigating which banks are better. I’m working from home now and I get direct deposit. I feel it will be a big pain in the butt to change everything now.
Wells Fargo are the worst bank you could ever deal with I took out a loan application pay my fees got to prove all of a sudden after 3 months they call me back and telling me they cancel my loan so I say okay give me my money back I have to wait for $535 before I can move on to another I need a company that will finance me it's not my doing but believe me y'all do not Wells Fargo Bank so when this all the stuff is over with I'm filing a lawsuit against them for breach of trust
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"Honestly, i think you better go walking around the street picking off lost change at that point". It hurts because its true hahaha.
I love how they're finding every way possible to charge broke people fees that they probably can't afford if they're getting the fees to begin with. So scummy.
Sad but true. Being poor is expensive. Takes money to make more money. Bank bonuses even. You need capital to abuse them...poor people cannot do this...I'm sorry.
A good job that's energetic keeps you in shape also . Buying gym memberships are a waste of money. That's for boneheads that think they're The Incredible Hulk
I cancelled my BofA account after my assistant was charged over $50 in service fees for calling them because they "accidentally" transferred a savings to checking transfer to another person's account. After being on phone with them for 3 days BoFA started billing them for calling in too often. I agree BofA is great for mortgages, but horrible as a bank. I would love a series on good small business bank accounts, because I've been going through this same process with a new company I opened and business checking is its own little niche of hell.
As soon as I’m done with school and I land a job in my career I’m going to drop my Wells Fargo account . I’ve known it was necessary for me to do this for a while ...
They were my first credit card. I truly do not like them, I don't use the card anymore because I got into maximizing value of points and I can't cancel the card because it is my oldest card and I don't want to lose the history but I can't upgrade to say the Propel AMEX card because it would just be opening a new card and losing my account history.
Reason I still have an account with one of these banks is because they're brick-and-mortar. While online banks are by far better for earning and saving, I still need to visit a branch from time to time when certain issues come up. And yes, I do read the fine print and have never been hit with a single fee ever.
I have had Wells Fargo since I was in high school because it's what my mother helped me open to get my first debit card and didn't change because I didn't know better, but since watching your videos I've opened up Ally for checkings and have Wealthfront for savings and I started Robinhood for investing. And watching my accounts gain interest so easily makes me wonder how many thousands I've missed out on because of staying with Wells Fargo and not trying to invest. 😂 I'm on the right track now though thanks to you!
Ha ha, closing a Wells Fargo account - took me 25 months, a lawyer (mine), my bank, $380 in additional fees, and 120+ hours of my time on the phone. Every excuse in the book (and then some illegal ones) to charge additional fees. They are so insular from their customers that they literally laughed when my lawyer called and threatened suit. Should be #1 but understand your criteria.
@Sponge Bob I was doing exactly as they told me to do to close and transfer the money to a ready and waiting IRA account from their IRA account (consolidating). Every time they rejected what I sent in saying the info needed changed and to apply again and pay another $95 fee to apply again. Wash and repeat again and again ...
I have two bank accounts: one with my company's credit union and the other is with Charles Schwab (high yield checking account). I opened up the later because no international debit card swipe fees and re-imbursed fees at all ATM's, and they have never charged me a fee once. I'd highlighy recommend it if you don't have access to a credit union.
What's worse with Chase is if you have 5 transactions go through in a day, and you made a mistake and couldn't cover them all, they will run the largest through first so they get to charge overdrafts for the smaller ones. Even if the large one shows up last that day.
Brandon Merrithew same 💯 I used to work for U.S. Bank and we all agreed how we didn't agree with the charges and fees. I opened a checking and savings with Discover through my credit union and LOVE it 💰💰
...then...Greedy Ass ...WELLS-FARGO- WENT ANd ...GoBBLED-Up OUr ...Chaper-11-...Trucking-Companies...CELADON- just went ...Bellied-Up'' Damn...Shame just PLAIN ..corporate GREED'''
I personally have a secondary checking account with Chase where I keep $1500-$2000. The primary idea behind establishing it was to have a bit of liquid cash, somewhere, that I can get to easily in the very unlikely event that something happens to my main checking account at Alliant Credit Union (any added benefits are a bonus). I chose Chase because I received a significant signup bonus, it gives me access to a very large network of ATMs where I can also make cash deposits, I had an established and mutually good relationship with them, and the BS fees are something I can avoid easily.
Great video. US Bank bought out my local bank several years ago and told the customers there would be no changes to our accounts. Within thirty days we were notified of all the charges that would hit our accounts. I immediately closed my account there and moved to a locally owned bank and never looked back.
MeLissa GayLe by new I’m assuming it was replacing the one you lost. They don’t charge me when they send me a new card after mine expires. It is a business, those cards cost them money. How dare they charge you for your negligence?
As a son in a Navy family... I grew up with Navy Federal Credit Union. Clearly I've been spoiled, because I laughed at their .25% Savings interest rates as pathetic. I'm sorry, NFCU. Please forgive my youthful arrogance.
Plus, I've bought some EPD stock lately, that has been providing a dividend rate of approx. 10% currently, ... and that will most likely go down, as the price of the stock goes up, ... but hey, I'm still getting around 10% on my original investment.
Im about to turn 18, and ive been BINGEEEEEE watching you videos man im sooo glad there are [people like you in the world i would loveee to learn everything i can from you!!!!!!!!!!!!!!!!!
My college partnered with US Bank and students had waived fees. It was also the only bank on campus and I had just moved cross-country, no car. So I didn't do, like, any comparisons. Imagine my rude awakening when I moved off-campus and lost my student status.
Amelia Fleck same I was employed with them and they give the platinum account to employees but once you leave, they ask you to close your account or pay the $25 monthly fee 😩
As a U.S Bank employee I never clicked this fast in a video before. I’m going to grab some popcorn because my favorite TH-camr is going to give the final verdict😎
Haplone I actually loved it! Like the person above me said, definitely entertaining, because we are aware of the cons, and the funniest thing he said was about the website, that killed me lol.
I will never use them for banking, but I am using them for their credit card offer, $150 sign up bonus for spending $500 within the first 90 days. Easy $150, 1.5% cash back & 1.8% cash back on phone wallet payments. I had to call them to find out if I had to open an account to redeem the points, I don’t have to and can just take a check for that free money just for paying bills.
This is so weird. When I first started banking (in the 90s, I was born in 1980) all checking accounts were 'free' and all had a $0.00 minimum. The checking account is a freebie the bank gives you to get you to also open a savings account, which charges no fees but instead pays a low interest rate. The only fee is that you have to pay to have your checks printed, but you can order custom checks (with a picture of Garfield or a bible quote or whatever) from one of those ads if you want instead. The first time I saw an ad for 'totally free checking,' I was like, 'Doi! All checking is free. That's not a bonus.' My credit union still follows that model, with the slight variation being that you have to open a savings account to get your free checking account.
You can setup your Chase Mortgage to Auto-Pay and upgrade your Total Checking Account to a Premier Plus Checking Account, and you wouldn’t need to keep the $1,500 beginning day balance to avoid the monthly service fee
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I got 2.27% on a CD (w no penalties for early withdrawal) and a 2.09% on Money Market! However their website is outdated. That’s why I kept my Capital One for bills payment and credit card.
Had the same experience with Chase I felt like they were just circling like vultures waiting for me to screw up in some minor way and slam me with fees.
Yeah I just started chase. Not only did they withhold my check for 12 days without compensating me for the late fees and other bills because of their withhold but they locked my account because" they were protecting me from suspicious activities" even tho there was no available funds in my account because they are withholding my check. I didn't know checking my own account was considered suspicious.....
US Bank won't even let someone else deposit your own check in your own bank account. (Think - I'm on vacation out of state can you go pick my check up from work and deposit it for me.)
I have accounts with 3 banks and 4 credit unions that I use every day, I've never even seen a bank or a credit union that has any fee of any kind but I've always avoided the mega banks like the plaque. I prefer to give my business to companies small enough to know who I am.
When I was a kid (40 years ago), I was getting 16% on my savings account. They also had free cookies and coffee for their customers. Yes - please do a video on 'why do we use banks?'
I love chase though...I just do basic deposits and withdraws and I don’t get charged fees, I’m getting my first college student credit card this week too :/
Graham Stephan graham, check out the banana republic credit card. I just paid $80 for $700 worth of clothing for Black Friday using rewards and discounts
Investing Engineered I only use the big banks for their credit card sign up bonus and cash back rewards, then transfer the redeemed cash to my credit unions. Once I get off the waiting list on Robin Hood cash management my emergency savings will be going there for that sweet 1.80% interest.
B of A is the worst in my experience, followed by Wells Fargo, and Chase! Always go with the smaller regional banks! I found 5.25% on savings with UBF with no fees so far! In all fairness, very few of the banks are paying interest on demand deposits / checking!
Exactly what I've stayed with them. Had a great relationship with my local branch and they even set me up a week before I even left for training! Still with them and have 0 issues with them!
Thanks so much for reading all the fine print for us! I make sure to read interest rates and fees before I choose a bank because they make money from our forgetfulness. Unfortunately a lot of us fall into this trap because these banks offer $500-$600 bonus when you open an account.
Also, Bank of America (we have to use for our business, unfortunately) makes you show photo ID to make a cash deposit. I don't understand it, but it's annoying if I forget and leave my wallet in the car.
Graham Stephan interesting notes you make about Chase - I agree their credit cards are excellent. When I cancelled my Chase savings account, the teller told me how Chase’s banking company and their credit card company are two very separate groups with little interaction between the two. Found it pretty interesting!
Inflation will exceed that interest rate by far. They're making money on you while you're loosing money banking with them. I can't get most folks I know to understand things like this. Awesome vid btw.
US Bank was the worst Ive dealt with. Couldnt get away fast enough. The manager was requiring our non profit corporation to provide information, not in compliance with state confidentiality law. Charged us a fee for a paper statement, a fee for depositing Canadian checks, where we are next to the Canadian border. The last draw was being left waiting over an hour to speak to a banker while the only banker was chit chatting with another customer. When the manager finally arrived with a coffee in hand, said, oh are you waiting for me? They suck!
@@SchuboxProductions . I had a credit union once they allowed my account to over draft $1000 they suck too. My ex landlord took three old checks almost a year old and cashed them. Instead of saying gee let's call the customer and see if it is ok to overdraft their account.
Giiiirl saaaame here! I was JUST about to open an account with either Wells Fargo or chase and BAM. Here came Graham with a wrecking ball, like Miley cyrus. Minus the big hammer-thing licking lol
@@KimberlyWalton I've had it since April. It started out at over 2% interest rate, but with all the Fed Rate Cuts, it's at 1.60% which is still better than most! I did a review on my channel, you should check it out!
...i must continue to USe ...www.USAA.com... BUt They are ABOUT TO MERGE with SCHWAB...O.K..'' may be a GooD Thing Been with SCHWAB...since my Days @...Morgan-State-&-TOWSON-State-Colleges-'''...yeahhh...its Been Awhile'''''''
Absolutely! Thank you so much Graham for spending so much time doing the research and reading those ToS (Terms of Services) that nobody reads and produce such quality content for us to consume! Big thumbs up! Just destroyed the LIKE button! Let's do it Graham fans!
Same!!!! I’ve had an account with a credit union my entire life and they charge no monthly fee and no overdraft fee so I had no idea people were getting “scammed” like this when there’s so many better options
This just makes me think of the judge from Futurama when he said, "My caddie chauffeur tells me that a bank is where people keep money that is not properly invested, so robbing a bank is tandamound to that most heinous crime, theft of money."
Citi is trash. I just canceled my savings account. 1. Someone stole $800 from the savings account and I had to tell them to reimburse me. 2. They allow a max of 15k withdrawal per month which is stupid if your savings has a lot of money. It'll take you 3 or 4 months to withdraw everything.
The bold print give'ith and the fine print take'ith away.
So true
Agreed
How true!
I’m trying to break up with US Bank because they charge me 2 dollars every time I use a check to pay rent. I didn’t choose this life and that 2 dollars could go towards avocado toast
What? How?
Have you tried ordering checks or using Billpay?
@@joejuneman1460 - I know right? She's not responding back. We can help each other and I'm a US Bank customer. I definitely have insights. All I can do know is just guess and I don't want to do that.
roxcyn they have a fee for counter checks, for when you write them. But you can order a mini pack for $15 and get a book of checks.
@@joejuneman1460 - You can buy the checks from a third party cheaply or do bill pay.
You're the class I wish I had in high school
Cade Crowley FACTS
Cade Crowley lol don’t you have parents?
@@crazymonky256 Some people dont have parents at all or the parents didn't get educated as good as most people. Not everyone has parents who will help them out with financial advice.
Cade Crowley, right?! My parents were financially savvy but for some reason reluctant to pass on their wisdom (in this particular area) to me... school could have done a lot more!!
@@crazymonky256
School: Your parents will teach you that.
Parents: You'll learn that in school.
Gram: Top five worst bank accounts
Also gram: proceeds to list all of my accounts
This is why people put money under their mattress.
Glad i checked the commit section first, I would have repeated your.
I do somewhat
Yep, and why several cities and states are trying to make cash transactions illegal (or refused).
@@graygrumbler4253 Wow that would be a messed up world to live in
Lol
Wow. This would never be tolerated in the UK. I can see why so many Americans don't trust banks.
Trust? We absolutely hate them
Always read the fine print
Local banks aren’t like this. Only thing I pay for at my bank is replacement checks. To me, that’s understandable as they are customized to me. Interest rates are low here but they don’t fee me to death. I don’t understand why anyone would bank with a larger bank. Only reason is for business to have their bank in any area
@@grantsharpe6655 Yup, local banks and credit unions are the way to go.
I don’t trust corporate banks. I go to a credit union.
Basically every banks we “rescued” during the crash. Next time, let these banks go bankrupt!!!!
Obama should have bailed out the people instead.
Obama signed a trillion dollar bail out bill ? Funny I never hear anyone mention this.
John Dadds stop living under a rock then, everyone knows this
Ignoring the million or so employees that would be out of a job if Big Bank went under; the government probably didn't want BOA, Chase, or Wells Fargo pulling the rug out from under the people with mortgages. There's a lot of fine print on those documents and large banks are super shady.
A-Friekin'-Men.
It made them really Cocky!
This is the reason why I only bank with Credit Unions. I suggest that you do a video comparing banks to credit unions. It is a big difference just in fees alone.
Dont you have to have specific jobs to br able to join credit unions?
Royal Honey Ropes not at all. Obv every credit union has different requirements but most of them welcome anyone. Golden 1 CU in California only requires you to live in CA to be eligible. Really just depends on what credit unions are near you.
I don't think it's completely appropriate to apply a blanket statement here. If you threw a dart at a map of the US and opened an account with the bank/credit union with the nearest branch, you'd probably be better off by taking the credit union approach. But shitty credit unions do exist, and there are plenty of them. Some of them really don't do much better than the big banks on fees or the interest rates- and, more commonly, the overall experience is worse (i.e. poor app/website, lacking customer service, relatively inconvenient, etc.). Point being to do your research and determine which institution fits your needs the best.
These financial institutions are trying to rob us blindly. For this reason I’ve filed a complaint against Community Choice Credit Union.
Credit unions are good for personal accounts, but business accounts are pretty bad at credit unions. Chase has some good business accounts and i can link it to my QuickBooks. There statements are also significantly nicer to use.
Pay 25 dollars service fee each month. Make 83cents annually in interest. Logic
Stonks
In a thousand years, the $25 will be gone and youre earning interest, it’s all about the long game
I did customer service for a vendor company for many of these financial banks and I can confirm that these banks do not have their customer's interest in mind.
Banks are just a money making scheme at this point. Most at least
@@beans4269 at this point? When have they not?
@@beans4269
Banks are the reasons as to why the entire world is in disarray. They use our hard earned money to build wealth for their investors and cares 0 no anything thing else
Yep, banks are FOR profit.
Well then you should bank with a NON PROFIT. Ya think?
GIVE US THE BEST BANK VIDEO SO I CAN DECIDE WHERE TO GO WHEN I DROP CHASE BABK
@@jaballebneen8808 What about savings?
@@Aagggyy Forget the savings account.
We have 4 checking accounts in our bank for 4 specific purposes.
Cashback rewards checking: weekly spending
Checking 2: Bills and Credit fund
Checking 3: Rainy Day fund
Checking 4: Investment transfers.
@@stillness4610 Interesting! Never thought having multiple checking accounts would be helpful in organized spending. Are all of these Discover accounts?
@@Aagggyy yes
Omg i HATE CHASE! They have been holding my payroll check hostage for 5 days now. Let me remind you... my work.. BANKS WITH CHASE! They won’t clear my check since Friday. Keep blaming the “holiday” but my money has not cleared yet .. and It’s now Wednesday @ 330am est.. should be cleared. I hate them. So much
I truly appreciate your sarcasm and hand animations, you actually keep me interested and not falling asleep hahaha
I clicked on this video faster than millennials get into debt
THANKS!!
Graham Stephan you should gently like this comment just how I gently hit the like button
Triggered
Malachi Frazier ok boomer
Rc don’t lie we’re all Gen Z here, just tryna roast the millennials and boomers
I have checking accounts with TWO of the banks on this list. After the pandemic, I know what I'm going to do.
why wait? You can open accounts with online banks like Ally right now
Zewmer That’s true. I’m still investigating which banks are better. I’m working from home now and I get direct deposit. I feel it will be a big pain in the butt to change everything now.
@@Elle_M717 He has a video for his top 5 up
I Saw Beauty why lol?
I Saw Beauty Why???
The sarcasm was spicy on this. I love it. 🔥
Thanks!
@@achebe171 Wow you’re the typical shill
I laughed through this entire video because of how funny these banks are and how "generous" they depict themselves. Thanks for a good laugh, Graham.
Lol
Generous to themselves haha
I only had Wells Fargo for about 1 year and I wasted about $400 on fees.... I feel stupid
Open a Simple account. There’s absolutely NO FEES whatsoever. I love banking with them.
What did you switch to? I have Wells Fargo right now 🤦♀️
Dont overdrawn ur account you people cry but are not responsible for you accout
They paid me 400 to open a checking account with them lol
Wells Fargo are the worst bank you could ever deal with I took out a loan application pay my fees got to prove all of a sudden after 3 months they call me back and telling me they cancel my loan so I say okay give me my money back I have to wait for $535 before I can move on to another I need a company that will finance me it's not my doing but believe me y'all do not Wells Fargo Bank so when this all the stuff is over with I'm filing a lawsuit against them for breach of trust
"Honestly, i think you better go walking around the street picking off lost change at that point".
It hurts because its true hahaha.
I love how they're finding every way possible to charge broke people fees that they probably can't afford if they're getting the fees to begin with. So scummy.
:(
Sad but true. Being poor is expensive.
Takes money to make more money.
Bank bonuses even. You need capital to abuse them...poor people cannot do this...I'm sorry.
Its all about reading the fine print.
You expect them to make no money and give services for free?
i just opened a wells fargo checking account today, fml
You should be good as long as you are aware of the fees and follow the rules.
this is how i know graham really cares
:)
@@debdebchannel4255 no
The Citi Bank Tellers are rude but other than that I Like it😴
justin raines me too.
Debdeb Channel 🙂
I left Wells Fargo 10 years ago and I'm glad I did. They were hitting me with ridiculous fees back then. I can only imagine how bad it is now.
Damn
What’s wrong with Wells Fargo? 😱 even my university has a deal with them
We're did you go?
I've been in wells fargo since 1999
I've been with Wells Fargo since I was 16 and I can't say I've had any major issues with them
Let’s talk about the people who have $30+ gym memberships they don’t use but don’t cancel
I have done so much better by buying a bicycle, some hand weights, and a yoga Marc
@@Laudanum-gq3bl and TH-cam is free 😂😂😂
I did this for so long, i felt so stupid
A good job that's energetic keeps you in shape also . Buying gym memberships are a waste of money. That's for boneheads that think they're The Incredible Hulk
I know this comment is old but this has definitely been me I’m ashamed to say
Please make a top 5 best bank account.
Thank you
sure!
@@GrahamStephan I'm waiting for that video
Yes because I have been meaning to leave my top 5 worst bank for years. Though maybe I can just use one of my brokerage accounts like a bank account?
Definitely anticipating this one
@@GrahamStephan Id smash the like button on that video so hard
I cancelled my BofA account after my assistant was charged over $50 in service fees for calling them because they "accidentally" transferred a savings to checking transfer to another person's account. After being on phone with them for 3 days BoFA started billing them for calling in too often. I agree BofA is great for mortgages, but horrible as a bank. I would love a series on good small business bank accounts, because I've been going through this same process with a new company I opened and business checking is its own little niche of hell.
The worst thing about a BANK ACCOUNT is when you don't have ANY bank account!!!
@stoic You are so SMART!!!
“Let’s say you have $20,000 just to throw around.. then you get to join the preferred rewards... ooooooooh” 😂👏😂💀
@Sponge Bob I think it's like if you were laughing and said "I'm dead hahah"
@Sponge Bob no idea why I found this so funny, I actually teared up
As soon as I’m done with school and I land a job in my career I’m going to drop my Wells Fargo account . I’ve known it was necessary for me to do this for a while ...
What bank are you going to go with. I’m in the same spot
Bronze Toothbrush wells is aweful
Why not do it now and move the money to another bank account.
Bronze Toothbrush Why not do it now?
They were my first credit card. I truly do not like them, I don't use the card anymore because I got into maximizing value of points and I can't cancel the card because it is my oldest card and I don't want to lose the history but I can't upgrade to say the Propel AMEX card because it would just be opening a new card and losing my account history.
Reason I still have an account with one of these banks is because they're brick-and-mortar. While online banks are by far better for earning and saving, I still need to visit a branch from time to time when certain issues come up. And yes, I do read the fine print and have never been hit with a single fee ever.
do you have Capital One? I hear they are good and also have physical locations.
I have had Wells Fargo since I was in high school because it's what my mother helped me open to get my first debit card and didn't change because I didn't know better, but since watching your videos I've opened up Ally for checkings and have Wealthfront for savings and I started Robinhood for investing. And watching my accounts gain interest so easily makes me wonder how many thousands I've missed out on because of staying with Wells Fargo and not trying to invest. 😂 I'm on the right track now though thanks to you!
Same here lol, starting small man!
Same, I’m thinking of going to Ally, I’ve been with BoA since 2012 when I was in high school, Graham’s videos are like a wake up call, lol.
@@iKayorei I still have my Wells Fargo, still working on transferring to Ally but I got my husband to close his wells fargo and switch to Ally!
Ha ha, closing a Wells Fargo account - took me 25 months, a lawyer (mine), my bank, $380 in additional fees, and 120+ hours of my time on the phone. Every excuse in the book (and then some illegal ones) to charge additional fees. They are so insular from their customers that they literally laughed when my lawyer called and threatened suit. Should be #1 but understand your criteria.
@Sponge Bob I was doing exactly as they told me to do to close and transfer the money to a ready and waiting IRA account from their IRA account (consolidating). Every time they rejected what I sent in saying the info needed changed and to apply again and pay another $95 fee to apply again. Wash and repeat again and again ...
I have two bank accounts: one with my company's credit union and the other is with Charles Schwab (high yield checking account). I opened up the later because no international debit card swipe fees and re-imbursed fees at all ATM's, and they have never charged me a fee once. I'd highlighy recommend it if you don't have access to a credit union.
It's not FDIC insured, so there is risk, but it's a good option for small amounts of money.
Not FDIC insured? What you talking about? It is
What's worse with Chase is if you have 5 transactions go through in a day, and you made a mistake and couldn't cover them all, they will run the largest through first so they get to charge overdrafts for the smaller ones. Even if the large one shows up last that day.
Can't wait for the 5 best banks
Thanks!
Second this
Same
I am literally in the process of switching banks because I’m learning more about how much Wells Fargo screws me over. That suggestion is amazing!
Nate Escuevano How come is Wells Fargo is screwing you over
that moment of relief when your bank isn't on the Graham Stephan naughty list :D
:O
Navy federal all the way!!!
@@GrahamStephan credit unions all the way!!
Which one are you with?
@@JessicaHicks redwood credit union
After seeing this I closed my US Bank account and opened a checking and savings with Discover.
Brandon Merrithew same 💯 I used to work for U.S. Bank and we all agreed how we didn't agree with the charges and fees. I opened a checking and savings with Discover through my credit union and LOVE it 💰💰
I use US Bank and been looking for a different bank. Any recommendations?
@@chad1980 online banks are really good for savings, do some research on TH-cam
How do I close my US bank? I am a newbie at this and am not sure how to close it because I have my savings with them
I lost so much money when I was young with Chase; had no idea there were better alternatives. 😢
What’s a better alternative?? Im 20 n im trying to get my first debit card , just want it for day to day transactions
@@-trillmigs-9150 capital one
Great info, Graham. I can tell a lot of work went into this. It also didn't get past me that your video editing is getting really good.
I read “ I will teach you to be rich” by Ramit Saiti and be made me realize Wells Fargo is horrible institution. I stopped using them a long time ago.
Which bank do you use?
Jessica Hicks use discover or ally
Jason Moy yes sir!
Are you rich?
...then...Greedy Ass ...WELLS-FARGO- WENT ANd ...GoBBLED-Up OUr ...Chaper-11-...Trucking-Companies...CELADON- just went ...Bellied-Up'' Damn...Shame just PLAIN ..corporate GREED'''
I personally have a secondary checking account with Chase where I keep $1500-$2000. The primary idea behind establishing it was to have a bit of liquid cash, somewhere, that I can get to easily in the very unlikely event that something happens to my main checking account at Alliant Credit Union (any added benefits are a bonus). I chose Chase because I received a significant signup bonus, it gives me access to a very large network of ATMs where I can also make cash deposits, I had an established and mutually good relationship with them, and the BS fees are something I can avoid easily.
Having branches located close by has saved my bacon a number of times. But I also have a HYSA with an online-only bank.
We appreciate you! Love learning about money - school should teach them in schools but they don't. :(
Can you do a follow-up video where you call the banks, ask the interest rates, and then laugh until they hang up?
do it yourself id watch haha
Great video. US Bank bought out my local bank several years ago and told the customers there would be no changes to our accounts. Within thirty days we were notified of all the charges that would hit our accounts. I immediately closed my account there and moved to a locally owned bank and never looked back.
With Boa they charged me a 5.00 fee to get my new debit card sent out via normal mail.
MeLissa GayLe by new I’m assuming it was replacing the one you lost. They don’t charge me when they send me a new card after mine expires. It is a business, those cards cost them money. How dare they charge you for your negligence?
@@randomemail3936 lol. Or she can call and they can waive the fee if she asked. That happened to me as well years ago.
Dang, I must be special cause they send me a new one anywhere from 6 months to a year for the last 5 years and I haven't paid a dime 😂😂
Guys stop paying. Report it stolen its free.
As a son in a Navy family... I grew up with Navy Federal Credit Union.
Clearly I've been spoiled, because I laughed at their .25% Savings interest rates as pathetic.
I'm sorry, NFCU. Please forgive my youthful arrogance.
That's why I've been putting my money in Credit Unions, basically all of life.
Plus, I've bought some EPD stock lately, that has been providing a dividend rate of approx. 10% currently, ... and that will most likely go down, as the price of the stock goes up, ... but hey, I'm still getting around 10% on my original investment.
Same💯 my mother opened my first savings account with our local credit union, prefer them over big banks also.
I remember my parents used to have Bank Of America and US Bank and they left those banks because they charge so many fees on everything lol
Already smashed the like button 💪
thanks!
i like to be different and only smash the like button when i want too and not when im told to, im crazy ik
@@izgreeny1313 I like to be told to. It's like 50 shades of TH-cam 😛
@@kristinsmith4375 oh its about power, i see
@@izgreeny1313 it's a like button kink. I have like button issues 😬🤫
"Gentle tap of the like button"
The research for this video must of broke Graham :)
Im about to turn 18, and ive been BINGEEEEEE watching you videos man im sooo glad there are [people like you in the world i would loveee to learn everything i can from you!!!!!!!!!!!!!!!!!
My college partnered with US Bank and students had waived fees.
It was also the only bank on campus and I had just moved cross-country, no car. So I didn't do, like, any comparisons.
Imagine my rude awakening when I moved off-campus and lost my student status.
Amelia Fleck same I was employed with them and they give the platinum account to employees but once you leave, they ask you to close your account or pay the $25 monthly fee 😩
As a U.S Bank employee I never clicked this fast in a video before. I’m going to grab some popcorn because my favorite TH-camr is going to give the final verdict😎
DaNiDD0213 How do you feel now that he roasted your bank? 😭
Isn't it entertaining? I'm part of the financial club also. I thoroughly loved watching this video :)
Haplone I actually loved it! Like the person above me said, definitely entertaining, because we are aware of the cons, and the funniest thing he said was about the website, that killed me lol.
Time to quit 💀
Same here. Given feedback myself
If Bank of America was not on this list, the list would not be accurate.
I used to bank with Wells Fargo and I, too, ran for the hills.
YEP!
I will never use them for banking, but I am using them for their credit card offer, $150 sign up bonus for spending $500 within the first 90 days. Easy $150, 1.5% cash back & 1.8% cash back on phone wallet payments. I had to call them to find out if I had to open an account to redeem the points, I don’t have to and can just take a check for that free money just for paying bills.
Use Wells Fargo for the convenience but I really wanna leave and bank with a better option, however I haven’t found one 🤦🏽♂️
Thanks Graham, for calling out on the big banks, or any bank that gouges customers... Very informative.
This is so weird. When I first started banking (in the 90s, I was born in 1980) all checking accounts were 'free' and all had a $0.00 minimum. The checking account is a freebie the bank gives you to get you to also open a savings account, which charges no fees but instead pays a low interest rate. The only fee is that you have to pay to have your checks printed, but you can order custom checks (with a picture of Garfield or a bible quote or whatever) from one of those ads if you want instead.
The first time I saw an ad for 'totally free checking,' I was like, 'Doi! All checking is free. That's not a bonus.'
My credit union still follows that model, with the slight variation being that you have to open a savings account to get your free checking account.
Yep, exactly!
Dude I can’t even listen to your videos without laughing. When you describe some of the lack luster features of these bank accounts I just crack up.
Banks are scams. I recommend whoever reading this to take and keep your money out the banks
Why
I love Capital One because they don't have any fees associated with checking and savings accounts!
You can setup your Chase Mortgage to Auto-Pay and upgrade your Total Checking Account to a Premier Plus Checking Account, and you wouldn’t need to keep the $1,500 beginning day balance to avoid the monthly service fee
Glad I decided to go with a Credit Union 2.04% on my savings
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I got 2.27% on a CD (w no penalties for early withdrawal) and a 2.09% on Money Market! However their website is outdated. That’s why I kept my Capital One for bills payment and credit card.
Yes! 👏🏻
Had the same experience with Chase I felt like they were just circling like vultures waiting for me to screw up in some minor way and slam me with fees.
Yeah I just started chase. Not only did they withhold my check for 12 days without compensating me for the late fees and other bills because of their withhold but they locked my account because" they were protecting me from suspicious activities" even tho there was no available funds in my account because they are withholding my check. I didn't know checking my own account was considered suspicious.....
This man is a hero in sooo many ways. Thank you
5. Chase Bank
4. Bank of America
3. Wells Fargo
2. US Bank
1. Citi Bank
James Conway thank you
Watched for Citibank I was thinking about using them because they have high yield interest accounts
Spoiler alert!!!!!
Goretorium Gaming ya I just signed up for the Citi Accelerate Savings account. Curious to hear Graham’s thoughts on that one
US Bank won't even let someone else deposit your own check in your own bank account. (Think - I'm on vacation out of state can you go pick my check up from work and deposit it for me.)
new federal laws.
Wells Fargo cancelled me TWICE and one time thought I was DEAD.
LMFAO
Where did you find that Member's Only jacket? I haven't seen one 25 years.
I have accounts with 3 banks and 4 credit unions that I use every day, I've never even seen a bank or a credit union that has any fee of any kind but I've always avoided the mega banks like the plaque. I prefer to give my business to companies small enough to know who I am.
When I was a kid (40 years ago), I was getting 16% on my savings account. They also had free cookies and coffee for their customers. Yes - please do a video on 'why do we use banks?'
yeah but how much was inflation in 1979
Mortgage rates were also like 18% and property values were low lol
@@nathankoon7749 less than it is now lmao, the difference is banks used to pass earnings on to their customers instead of to their investors
I love chase though...I just do basic deposits and withdraws and I don’t get charged fees, I’m getting my first college student credit card this week too :/
Went to h&m yesterday and got a $30 sweater discounted for $2.53. Thought you would be proud, haha!
Crazy price!!
Sell it on ebay 😂
Graham Stephan graham, check out the banana republic credit card. I just paid $80 for $700 worth of clothing for Black Friday using rewards and discounts
Ven it probably wouldn’t be cost effective because you still get points on other cards
Proud
I appreciate all the work and research you do to help give us good financial information
The big bank savings interest rates are GARBAGE.
I always go with an online bank account for the best rates!
Investing Engineered I only use the big banks for their credit card sign up bonus and cash back rewards, then transfer the redeemed cash to my credit unions. Once I get off the waiting list on Robin Hood cash management my emergency savings will be going there for that sweet 1.80% interest.
@@morici0 Same here haha they offer awesome credit card rewards!
And who do you see in person with them online banks. They are just as bad
B of A is the worst in my experience, followed by Wells Fargo, and Chase! Always go with the smaller regional banks! I found 5.25% on savings with UBF with no fees so far! In all fairness, very few of the banks are paying interest on demand deposits / checking!
Someone disliked the video within the first 2 mins of it being uploaded meaning they disliked it... before... watching.. 🧐
nooooo :(
Maybe they had big fingers and did it on accident?...
JK
They obviously work for Wells Fargo.
That was an auto generated dislike from Wells Fargo's AI algorithm!
It was probably Citibank they knew.
Damn, I was thinking of switching my everyday Wells Fargo account to the chase checking account 😂
I love the sarcasm and sass. Incoming wire transfer fees always amaze me. Why would you discourage me from bringing you more money?
After hearing stories where Wells Fargo tried to foreclose on homes that were not mortgaged through them, I decided to never even look at them.
Usbank waives the fees for military, veterans and students
Exactly what I've stayed with them. Had a great relationship with my local branch and they even set me up a week before I even left for training! Still with them and have 0 issues with them!
Also, they waive monthly fee and paper statement fee if you have an active credit card or mortgage loan with them.
They also waived the monthly fee for me for doing online banking, having direct deposit, and having a credit card
@@TheDivaIsIntheDetails - if you have a credit card/mortgage with them you don't have to do online banking nor have direct deposit.
Boa does that too
Thanks so much for reading all the fine print for us! I make sure to read interest rates and fees before I choose a bank because they make money from our forgetfulness. Unfortunately a lot of us fall into this trap because these banks offer $500-$600 bonus when you open an account.
Also, Bank of America (we have to use for our business, unfortunately) makes you show photo ID to make a cash deposit. I don't understand it, but it's annoying if I forget and leave my wallet in the car.
Most banks do that now. It’s annoying for you and the poor SOB across the counter that’s heard about how stupid it is, at least five times a week.
Wells Fargo just got worse because now they require you to have $500 in direct deposits each month to avoid paying the monthly fee
Hey Graham! Thanks for this video. So helpful and interesting.
Could you do a video on credit unions and how they are different than banks?
12:20 "unless ofc your custom Ferrari had too many options and it came to $251,000. Oops!" LMAO!
Never put your money in a place with greedy share holders
Man I haven’t finished the vid yet but my bet is on Wells Fargo and Bank of America showing up in here
Uh oh
@@GrahamStephan Yep, Skank of America for sure.
Graham Stephan interesting notes you make about Chase - I agree their credit cards are excellent. When I cancelled my Chase savings account, the teller told me how Chase’s banking company and their credit card company are two very separate groups with little interaction between the two. Found it pretty interesting!
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The Truest Life ™ hah dang, didn’t even notice since I watched from my notifications
I just opened a Citi bank account and I deposited $50,000 and i got a $1000 bonus which is a 12% APY, plus i get 1.65% APY if i have $50,000 or more.
Heavy Setup they gonna score you over soo.
@@DailyDoseofShortsVideos only if he screws up first. That's how they get you, when you mess up. How else will bank employees get paid.
Inflation will exceed that interest rate by far. They're making money on you while you're loosing money banking with them. I can't get most folks I know to understand things like this. Awesome vid btw.
US Bank was the worst Ive dealt with. Couldnt get away fast enough. The manager was requiring our non profit corporation to provide information, not in compliance with state confidentiality law. Charged us a fee for a paper statement, a fee for depositing Canadian checks, where we are next to the Canadian border. The last draw was being left waiting over an hour to speak to a banker while the only banker was chit chatting with another customer. When the manager finally arrived with a coffee in hand, said, oh are you waiting for me? They suck!
I made a whopping 6 cents in interest over a period of 6 months with the bank of america savings account lol.
And you will have to give all that back in taxes at the end of the year.
only if it goes over $9.00 😂
Can you do BEST Bank accounts?
...THERE ARE ...none...don''t YOU GET...it...HeLLo...anyBODY HOME''''
Credit unions are the closest thing to a good bank
@@SchuboxProductions . I had a credit union once they allowed my account to over draft $1000 they suck too. My ex landlord took three old checks almost a year old and cashed them. Instead of saying gee let's call the customer and see if it is ok to overdraft their account.
@@MrJay197409 ...how did your ex landlord cash in old checks? Did you not ask why they didn't take the money sometime close to when you gave them?
Elijah Mumford 😂
I had US Bank for YEARS! I switched to. Credit union 4 years ago and I’ll never go back - thanks Graham for this video!!!
it is like you knew I was looking for another bank (I have wellsfargo) and I had just pulled up Chase... now I have to re-evaluate my life
Giiiirl saaaame here! I was JUST about to open an account with either Wells Fargo or chase and BAM. Here came Graham with a wrecking ball, like Miley cyrus. Minus the big hammer-thing licking lol
I prefer SoFi Money personally. Checking account with a high yield interest rate.
@@AJMobileMoney I was hoping he would go over that one at some point. I just came across that today. How long have you had it?
@@KimberlyWalton I've had it since April. It started out at over 2% interest rate, but with all the Fed Rate Cuts, it's at 1.60% which is still better than most! I did a review on my channel, you should check it out!
I use USAA
...i must continue to USe ...www.USAA.com... BUt They are ABOUT TO MERGE with SCHWAB...O.K..'' may be a GooD Thing Been with SCHWAB...since my Days @...Morgan-State-&-TOWSON-State-Colleges-'''...yeahhh...its Been Awhile'''''''
I’d use them but since I don’t have a direct line from a military member I can’t join.
🙌
Elijah Mumford uhhh what? Did you have a stroke?
The Hollanesian Usaa, navy federal good
The devil works hard, but Graham works harder lol
Absolutely! Thank you so much Graham for spending so much time doing the research and reading those ToS (Terms of Services) that nobody reads and produce such quality content for us to consume! Big thumbs up! Just destroyed the LIKE button! Let's do it Graham fans!
Thank you!
I didn't even know banks had a cost per month...I just thought they were free
Same!!!! I’ve had an account with a credit union my entire life and they charge no monthly fee and no overdraft fee so I had no idea people were getting “scammed” like this when there’s so many better options
Brett Abaurrea there’s a credit union bank in my city. I’ve been thinking of switching there and leave Bank of America.
I work at a bank that charged 6 a month or you can get a account that charges 6 if you don't keep 100 in your account.
@@ByterSweet I have fulton bank, the only fee they have is an overdraft fee. other than that, no monthly fees and you earn a small interest.
@@BrettAbaurrea all you have to have is a certain amount in your account. Then you won’t get charged a fee.
This just makes me think of the judge from Futurama when he said, "My caddie chauffeur tells me that a bank is where people keep money that is not properly invested, so robbing a bank is tandamound to that most heinous crime, theft of money."
citi has their "accelerate savings" that actually offers pretty competitive rate, but it's not available in all states :(
Citi is trash. I just canceled my savings account.
1. Someone stole $800 from the savings account and I had to tell them to reimburse me.
2. They allow a max of 15k withdrawal per month which is stupid if your savings has a lot of money. It'll take you 3 or 4 months to withdraw everything.
Great information! Thanks for digging up those fees and condensing your research to a video below 20 min.
Had a wellsfargo acct that started to charge me 12 a month once my checking went under 2300.00