The Best Places To Bank
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- เผยแพร่เมื่อ 2 ต.ค. 2024
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It’s amazing really. We have a financial crisis, caused by greedy, reckless financial institutions. Congress passes legislation requiring those institutions to be less greedy and reckless. The institutions then lobby to have those restrictions removed, usually in the name of “remaining competitive”. This leads to another financial crisis. It’s completely predictable, and we have been doing this dance since the Great Depression almost 100 years ago.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Well, I've been researching advisors lately because the market news I've been seeing hasn't been that positive. Who is the individual who helped you, and is he or she still around?
I work with Sonya Lee Mitchell as my fiduciary advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
For any boomers wondering, this is a bot conversation meant to trick people into giving them their business
I understand now why mr. Krabs always hid his money under his mattress
😆
@Charmin-chan jokes aside, so it’s bad to withdrawal money as a method of saving due to it loosing value? What do you suggest we do instead?
And he almost didn't get it back.
Lol
Frfr
The manager and tellers at our local credit union are kind, friendly, amazing human beings. It's a breath of fresh air!
I was banking with bank of America. They charged me an overdraft fee and no one could find where I had overdrawn and still refused to credit it back to my account. I closed all of my accounts and had family close theirs. I now bank with a credit union and love it.
Paranormal Entertainment when?
Not true, you spent more than you had. They wouldn't randomly charge you. Stop lying to yourself, dude.
Cash Boy yeah right you have to pay to use your own money that’s dump
Cash Boy it is true. They’re known for that. I had over 10,000 in the bank and I kept getting these weird fees. When we called they couldn’t explain why we had so many fees. It was our savings account so we NEVER made any withdraws from that account. We deposited twice a month into that account. The minimum we could have in that account was $1,000. We had way more than the minimum. So, we couldn’t understand where the fees were coming from. When we went in to speak to them they said it was a mistake and they were able to give us back SOME of the money. Fast fwd to one morning when I decided to check my savings account and I saw a chunk of my money disappeared. We panicked and went back in to see what was going on. They said it was a glitched. But when I checked my checking account, we saw a chunk of money was deposited into it the same day. A transfer I never made. They couldn’t explain what happened. I was furious and closed all of my accounts! Don’t be quick to say ppl are lying or they aren’t budgeting/managing their money correctly. This is something that happens to multiple ppl and it has been a problem for quite sometime now.
@@cashboy7406 not necessarily depending how businesses handle transactions.
As an example let's say you spend a dollar fifty today but you don't spend that $1.50 until about midnight at a convenience store
Because there's no processing that's occurring just yet you might get charged the following day
Or
The transaction might disappear which then the bank would see it as though they didn't take the $1.50 from your account so it's back in your account which would lead you to believe your account balance is higher
Then you spend that $1.50 again and then you overdraft when the other charge that disappeared finally goes through to your bank account
I hate wells Fargo.
J sav Wells Fargo was also investigated for their illegal malpractice.
Wells Fargo are THEIVES!
They’re the worst
I got them, i like it. Not bad
J sav I love wellsfargo. No fees at all. What’s the problem buddy?
I was in banking for years...I never knew greed existed on the level I experienced daily. It's disgusting.
Bank of America is the worst bank I’ve ever dealt with and will never use them again. I hope they fail and/or someone (or group) punishes them.
it took me 4 hours to close my acct
I hate BOA
They'll straight up lie to your face. Crazy how people even use them.
Worst bank in America
As a Platinum Honors member with BOA, their service is actually pretty great. Most fees waived, discounts on loans, bonuses on top of bonuses on credit card rewards, can’t complain.
Our mortgage is through Wells Fargo and we can’t wait for the day when we say buh-bye in a few years!!
Stephanie Gomes - Us too!
Stephanie Gomes so you replied to yourself? Lol
Same here!
So like in 30 years
Yeah, we said bye-bye to them when we sold our house. Now our (new) mortgage is with discriminating CitiCorp (until they sell it to someone else, anyway). Out of the pan and into the fire, Arrrrgh! Can't wait to be mortgage free!
I'm 55 years old, and my 80-year-old parents held a Bank of America checking and savings account, plus a credit card since I was a child! They started charging them a servicing fee on their checking account!! A fee, in their senior years, and after being loyal customers for close to 50 years! But, my mom wanted to stay with them🙄 Finally, they closed their doors here where we live-good riddance! And my parents now have free checking and a little respect. 😊
Bank of America is ridiculous with fees.
I’m 19 and I’ve been watching Dave Ramsey and I feel bad for people who have Wells Fargo
jvda I’ve heard so much garbage about Wells Fargo. I’m 19 too.
Im 21 homie. Been with wells fargo since I was 13 this Monday morning after work im going to go cancel my Wells Fargo account & check a credit union out
@@elevatedcuatro2683 Im 97
Me lml I’m trying to see where to bank somewhere other than Wells Fargo
Of course i was thinkn about wells fargo when i came here..
I left Wells Fargo because of horrible customer service. I went to Chase, which a big bank, but they always have great service. It's just more convienent because they have banks everywhere. I would quickly leave if service ever got bad.
Join a credit union and attend the annual meeting. How many banks invite their customers to the annual meeting?
comparing apples to oranges
President Evil not really. Banks invite their share holders to annual meetings, and so do credit unions. The difference is EVERYONE who has an account at the CU is share holder, thus can attend.
I couldn’t care less about attending these meetings.
They got daily meetings.
What happens at the meetings?
I moved from Bank of America to a local credit union ten years ago and it was one of the best moves I've made. I have all the features of a big bank in regards to internet and phone app services that I had with BA.
So true. I had several personal and commercial accounts with Bank of America when I used to own a business, and at first, they treated me with a little more prestige. But, that prestige came at a cost. They started bilking us with ridiculous fees, and even had the nerve to charge us overdraft fees that were clearly their mistakes. Even when I tried pointing it out to them, they wouldn't budge. Eventually, I had enough and severed all ties with them; right about the time when they got that $20 Billion bailout gift in 2009. Oh yeah! And I'll never forget all those extravagant parties they threw right after they got all that money, right in the middle of a great recession, and weren't even hiding it. As if they hadn't a care what the public thought. All that at our expense, of course! I'll never do business with a big bank again. Bank of America is the BOA constrictor!
Agreed
Navy Federal CU is the best thing that ever happened to me. :)
Taylee Nicole yes they are good ..
Taylee Nicole I will like to chat with you more . So you care for chat ?
Yup the best
Taylee Nicole Facts!
EVERYONE says that! Lol. I also hear a lot about USAA.
Navy Fed is a great credit union. Been a customer for 20 years now. Super happy
I can greatly agree.
It would have been nice if he would’ve told us which Banks instead of just rant like he always does
He did he just didnt name any specifically, if you weren't an idiot you could figure it out
Just being bitter. Only sheep follow him.
I have always been with credit unions and now I work for one. They work for the members, big banks work for the stockholders. Way different atmosphere. CU's have shared branches and atms across the USA.
I have two banks, Security Service FCU and USAA. I have zero complaints with either one.
I've had the opposite happen with me. For some reason I get better overall service with a national bank than a credit union.
Chase bank has been the best for me
Chase foreclosed on thousands of people - WITHOUT TELLING THEM THEY WERE DOING IT!
Credit unions and Usaa.
BECU? What's that?
Boeing Employees Credit Union.
Been with navy Fed for 9 years. My savings is in my has a account. My income goes to my navy fed credit account. I only have a chase account to pay my rent via cashiers check. I dont pay chase any fees because I am a veteran.
USAA is the best by far.
Eugen Baidiuk I’m actually about to switch to Bank of America today. Sorry but BECU just isn’t convenient.
I have bofA and hate it!! I’m closing it ASAP !
Bank of America has worked well for me for checking, savings and bill pay.
I bank with First United Bank based in Durant, Oklahoma. They are everywhere in Oklahoma, especially in small towns. State banks aren't the worst but not the best.
I have been a member of my local credit union for 20 years now, I usually walk in and go the counter and they already have me pulled up on the computer before I say anything to them, I would never do business with a corporate mega bank ever. The only correlation I have with Wells Fargo and Bank of America is they happen to be in the index funds I invest in through Vanguard, "that's it"
I signed up for Chase business checking 2 weeks ago. Worst banking experience in my life. They already suspended my account twice for trying to make an initial deposit. Wasted 1 hour on the phone waiting to talk to customer support, which was someone in India that told me to go to a branch.
When you go into the city all the biggest, newest buildings are bank buildings and that's because they're always charging all their members all those fees.
I really like USAA Bank - they may be good but the service is fantastic
Credit Union only, over 40 yrs now. 👍🏼
Had wells fargo since 2008. I finally closed it out and transfered my funds to my employers Credit Union. I'm treated better.
Agree with his opinion with choosing banks. Just like a relationship, period. Well Fargo will never gain my trust after plenty of peoples reviews
I’m surprised that Wells Fargo was not bought out yet
I would like to know Dave's opinions on online banks like USAA and Ally (formerly GMAC)?
Jackie Counihan
Usaa is a wonderful bank. So easy to use, transfer funds etc. They also have very good fraud protection including the fact all the different type of affordable insurances they provide for cars, homes,etc
love USAA never hear about them in the news either. they treat their customers pretty well. I had their renter's insurance and even though I had no damage during the last few hurricanes they gave me a food stipend for my food loss caused by the lost power... who does that!!!?? 😁😁
Jamie Cone I got my food reimbursement too!
I love USAA. It’s truly the best.
I bank with usaa and the only con is the paper money issue. You have to get a money order and write it to yourself and then do the mobile deposit. 10,000 daily limit would be a problem for a large business. I don't have that "problem" though. Great customer service!
he is right bank of america charge you a fee to maintain checking or savings account plus there intrest rates for anykind of loan are high
Matrix 0679 . Bank of America charges for everything.
Hi It's Me Mind Your Own Business they do. They charged me a 38 dollar fee for Costco's mistake with a check
Not if u get direct deposit
Bofa haven't charge me a brown penny in years
I opened a student account with BofA in 1990, converted to a regular checking when I turned 18. Had one charge, my dad’s $20 Christmas check bounced (yeah) and I had $23.71 in the account. They charged the $20 and $3 bounce fee, leaving me $.71 but no other fees. I’ve been loyal ever since and never had an issue. The mobile app and online bill pay features work great. Their interest rates are terrible but for checking/savings they have been decent enough for me.
I bank thru a credit union but my house is thru Chase.. terrible bank! They tried to increase my mortgage, they didn't send me increase papers then tried to say I was in foreclosure when I was always paying! It was a nightmare!
chase is horrible they did the same with my auto loan and ruined my credit (even though I payed on time)
wow sorry to hear this happened to you. Dang, I actually like Chase.
Chase is good! That's too bad you guys had bad experiences.
I’ve heard bad things about chase. I have them for my credit cards and never had a problem.
@@WhereWeRoll Hmm, I have Chase as my checking account and I love them
Im with dave on this one. I grew up in a small town. Open the savings account at a local bank when I was 13. Over the course of the next few years I got to know everyone at that bank. I went to school with most of their kids. Any time that I found myself in a bind financially I could always go to them for assistance. If I needed help managing my account or if I needed a small loan to cover unexpected expenses, I can get it no questions asked. Almost like the old days of working with a handshake. Eventually they got taken over by a multinational Bank. After that I couldn't get anything from them. Despite all of my history with them I couldn't qualify for anything. The bank of eventually got sued because they were fudging people's accounts to create overdraft charges. I close my accounts with that bank at around that time now I use a different local bank and a credit union
That's a sad story :(
Well said Dave, I agree with you one hundred percent.
This would've been nice if this actually told us the best banks and not just a rant...
classicstorm Their Is Know Best Bank The Best Bank Is You Holding Onto Your Own Money Choose The Lesser Of Evils 😀
For real, I was waiting for a list of names or something
Wells Fargo is rude. Key Bank will sit there telling their customers off for no reason. Bank of America is just as bad. Discover checking locks you out of your accts & ur not able to get ur cash out of the debit card no matter what atm you go too. It's like they want you to keep calling them up then they keep you on the phone for a half hour asking stupid questions. Robinhood's debit won't work in atms in the same way. I'd avoid those for a checking acct.
Bank of America only charges you if you don’t have good amount of money in the savings and also if your not working that checking account, If you planing living paycheck to paycheck then don’t do business with them . : )
You know I never thought about this. I do like Navy Federal credit Union. I may look into this, as far as a regional bank.
I love my credit union. We have been with them 14 years. 😃❤️😃
Which one would you recommend
If you can bank with USAA and are not, then you are missing out. You want to use at least two institutions in case you are having a problem with one of them (dealing with fraud, money is temporarily inaccessible, etc.) which is inevitable sometimes. I bank primarily with USAA for their customer service and convenience and secondary with TD Bank so that I have the option to make cash deposits and walk-in withdrawals. I avoid all fees with TD Bank. USAA never charges fees for the banking services I use them for.
Anyone have recommendations on SoFi or any online banking? I am a trucker OTR looking for my best option? Thx
I personally enjoy SoFi. I’ve never had an issue with them.
Haha. I knew a guy who worked at Wells Fargo. He was pushing everyone he knew to open an account. Finally, he just got sick of it and quit.
My credit unions have always treated me great sometimes better than I deserve
Are you sure?
“If every person in America took their money out of the big 5 banks and opened accounts at local banks-it would be a create a complete revolution overnight”. Catherine Austin Fitts
I've never actually had a single fee charged by bank of America. Only switched to them because they're everywhere
Here because Wells Fargo has me AND my money all the way messed up
USAA, PENFED, and Navy Federal Credit Union, nuff said!
You never do business with mega banks.
USAA is the worst
I use them just for accessibility. I’m a chase customer. For investment or savings go Dave’s route definitely.
Navy Federal has been absolutely amazing to me
is that for military only
@@Daddyvader7 If you know of someone that has an account with Navy Federal that person can put a word in for you so that you can open an account there. Either in person or over the phone.
Absolutely! I love NFCU. I'll never bank anywhere else! As a former call center employee, I can say first hand that they train their employees to jump through hoops for their customers.
Just close my WF account done with those fool for life
Been with SunTrust for over 30 years. Still feel like a hometown bank. Shoutout to SunTrust in Miramar, Florida!
Suntrust and Bbt got bought out from Truist but I still like them so far.
I use a credit union but you do need to be careful of them. My cousin had her entire balance wiped out by one after she got married because her mother in law owed them money. They also have questionable lending practices; they'll lend to just about anyone for just about any ridiculous interest rate. Last time I was in I saw a rate card showing that they would finance a used motorcycle for 84 months at up to 19.99% interest. Yikes!
The Megan Experience I do not get it what her mother in law have to see with her,that is so crazy
It was probably a legal garnishment ordered by the court. It doesn't matter who u bank with its threw the court
The Megan Experience
Seems you need to be careful with your mother in law. Not the bank fault.
I bet what happened was in the fine print that your cousin didn't read when she first opened that account.
And I imagine that rate card was customer FYI so you would know what you are getting yourself into and again it's not the bank fault if you decide to take a loan with them.
Depends on your credit score. I got loans all the time from my credit union ranging 6.5%-9%. The ex wife had an 18% interest on her motorcycle because her credit score was in the low 500s and she had to have a cosigner. You can still get good rates from a credit union. Plus many don't charge an early payoff fee like some banks my brother used for his vehicles.
Small banks don't have good ATM network. If you in a out of town and you trying to find an ATM good luck with that period
After what Wells Fargo's did. How do people still keep an account with them?
Awesome video! I've been on the fence about closing my bank account. This really helped! Thanks Dave Ramsey!
My experience says otherwise. Small local banks are pain. They give zero respect to clients with small deposits.
People used to rob banks, now banks the robbers!
I’ve always been treated well at Bank of America. I’ve been with them for 12 years. So far so good.
I know nothing about banks but you're advise makes sense👍
We bank at a credit union. We've held the account for twenty-five years
Regarding Federal type of Credit Unions. There's apparently nothing Federal about them.
Wondering what Dave thinks about banking at places that require a military background like Navy Federal or USAA.
I love em.
I'm sure customers there are treated much better than any traditional civilian bank.
Not neccasirly USAA sucks I would avoid them like the plague I closed my account with them after they failed me. They left me stranded on the side of the road on the highway in the summer and they also did not help me when I had a fraudulent charge of 1500 I lost that money and was called a liar even though I submitted proof they didn’t consider the charge fraud. They never provided me a check book even after I paid twice for checkbooks. There is only one physical branch in Texas not many usaa arms. Pen fed and navy fed have banks and atms and have not done me wrong yet. Penfed is decent. navy fed is alright too. I’ve had a personal loan through pen fed and a car loan through navy fed.
Try Logix credit union guys best credit union around if your in the US
Mike Arredondo This man just fund my Account with enough money and he never charged an upfront fee. Text *Hess0222* on instagram to get yours done
This didnt age well…
Please don't generlize ans say say that customers of bigger banks are not treated right or cared for. I work 5 days a week at a big bank branch where we do it all for our customers. I care too much to not say something. Maybe it's true for some branches but not all
Does your bank charge overdraft fees?
Does your bank charge ATM fees (do I have to pay anyone anytime to access my own money?)?
Does your bank charge interest for credit cards?
Do you pay high interest rates to customers for balances?
He is not talking about smiling and offering coffee. He is talking about treating your customer's money well. Financial Peace, not Feelings Peace.
To be honest, I've ALWAYS had great customer service with Bank of America, and have NEVER been charged any fees. Maybe I'm just lucky? Although, their interest rates on their checking and savings accounts are PATHETIC. I have accounts with multiple banks though, so I'm not all that concerned.
I had Wachovia and then Wells Fargo bought them. I’ve never had an issue with Wells Fargo. I rarely call or go into the bank, but when I have, they gave excellent customer service. However, with the fake interviews and massive scandal from a few years ago, I don’t know if I can continue banking with them. I’m considering NFCU.
I like this advice!
As a former big bank employee that quite less than 2 months ago yup on point about them. Folks aren't a person they're a number that you're always trying to squeeze another sale out of
very helpful
Wells Fargo is now just transitioning to customer experience rather than sales.
Wells Fargo treats their customers like we are lucky to be serviced. They STILL haven’t opened the lobby...drive-through only. 😡
Churchill Mortgage, Dave's ONLY recommended mortgage provider sells nearly ALL of their loans to Wells Fargo NA.
Tim Kordik Even if they sell the loan, the terms of the loan do not change. In fact most banks and credit unions sell loans all the time. Usually the Wells Fargo or Bank of America's make their money servicing the loan. Not holding it. By selling the loan, it allows them to free up the money and go out and make more loans. This is the same case for Church Hill Mortgage.
That is not good at all. Basically means that Wells Fargo customer service will kick in, and the nightmares begin.
He didnt mention Chase! Does that mean Chase is ok?
😅😅
PNC Bank is great for college students and also my parents have Chase Bank
Thinking the same thing 😅
I love chase been with them over 20 years
Chase is fantastic. I became good friends with a couple of their personal bankers. They care.
Is SoFi bank a good bank to go with? I'm thinking of closing my Chase bank account and switching to SoFi entirely, because they charge 0 fees on their savings account and have a 4.6 percent interest rate. Anything would be better than what I currently have for a savings account, which is just a 2nd Chase debit account. I opened a 2nd Chase account to have a place to put my savings since I did not get approved for an actual savings account, but it charges a monthly fee, actively eating my savings :(
Ally Bank savings account interest rate is 1.25% APY
Medic311 1.80%
2% currently
It is 2.2% not a great place to invest so dont put a lot of your money there however it is a good place for a rainy day fund.
1.9
Stock markets better
I'm just interested as to why Dave/people hate Bank of America. I've been with them for a decade and have only been charged 1 fee which was a mistake which was rectified immediately. They always meet with me in person to answer my questions and their app is great and they have locations all across the country. I have made (albeit a tiny bit of) money from Bank of America and over 10 years have had an insignificant amount of issue from them while providing everything I ask from a bank.
So I'm curious - have y'all/Dave been treated significantly different?? Why does he hate them so much?? I'm genuinely asking out of curiosity
What about taking out a loan from an employee credit union? I’ve always felt that, if you borrowed from them, they truly have direct access to your paycheck and it might feel slightly uncomfortable.
Any bank you do with business with, in essence, can access your paychecks through garnishment if court approved.
And now the local/regional banks are going up in flames, but hey, they smiled at you when you opened an account with your $3.12! And they weren’t mad when you overdrafted at Applebees two for tuesday.
Came looking for a decent video but this is beyond what I expected 🙌🏻
Bank of America or Chase. You can’t go wrong with any of them.
Ally Bank: 2% annual return on savings account, no maintenance fees, overdraft fees, or minimum balance requirements. 24/7 phone/online chat support. Best bank in 2019...
Chase is TERRIBLE as well! I was with Halliburton Credit Union and was by FAR the best I have been with!
mq77016 really chase has been very good to me?!?!
Me too!
F chase 😂. Got my debit card frozen three times this year because of possible fraud ( there wasn’t any) and had the call them every time to get it removed. I am thankfully getting rid of my chase account and using different banks now
Radiantkid same 😅 I’ve had chase for years and had no issues with them
Chase is the devil!!!!!!!!!!!!!!!!!!!!!!!
Maybe it is just me, but Bank of America has always treated me very very well
Try Frost Bank especially here in Texas. Most of us, their customers tend to remain with them. Great local Frost Bank here in Texas.
I've been looking into Frost (Austin girl here) how are the fees?
Bank of America is definitely not the best...but I'm only still with them because I've lived in 4 different states over the past 10 years and their everywhere I go...I'd love to do a credit union, but can anyone tell me of one that's at least established up and down the east coast and southeast?
Look up navy Fed credit union
@@Dakkaroni no servicemen or women in my family, that'd be an excellent alternative though
You can get into PenFed Credit Union without too much effort.
bank of america is easily the best checking account, it's everywhere
Yikes. I use Wells because my parents do
I've closed and open an account with Chase so many times...no more. I am done with them.
CandyCandy they have terrible interest rates too
What about online banks like chime, simple and then something like Ally which is more like a traditional bank minus the brick and motor places ?
How do you guys feel like about direct banks (banks that exist online only)? I see more of them popping up and they seem to have a good APY for savings account but...I still remain skeptical. Does anyone have experience with them?
Dave how do you feel about Chase Bank
the reason people like bofa and the similar banks is because of convenience and accessibility .
I have to leave Wells Fargo ASAP
I have Wells Fargo and hate it. Looking into credit unions.
Yeah Credit Union is so great they allowed my ex landlord to cash not 1, 2 but 3 checks that were approximately 7 to 9 months old and overdraft my account $1000.00 great Credit Union service.
But legitimate checks, right? Or did you hope not to pay? (If so, then you were rescued from court costs, which are Enormous! And you are always ethically responsible for your expenses, time is only relevant in that you had extra time to use, and possibly derive income, from that money)
how to you find a list of "regional" banks that aren't mega big national/international?
What bank is best for international living and business. My American bank does not allow me to wire money while not in country.