Alright guys and gals, I need your help on this one. With banks closing left and right and their fees going up, many people are changing where they do their banking, either by force or by choice. Even though I live 23 miles from the closest Bank of America, I still have my main checking and a small savings account there. (My emergency and other savings is at ING, my stocks are held at Scottrade, my mutual funds at T.Rowe Price, and some loaned out money at Lending Club.) If I need to make a deposit, I just mail it in or make the trek to the bank. There is a local credit union here open to anyone that I would actually prefer to bank with, but the reasons I have stayed with them are three-fold:
1. I am a stockholder, and switching banks would feel like shooting myself in the foot.
2. While they have had their problems, they seem to be pretty stable right now.
3. I have all my e-bills and autopayments working perfectly. Everything gets paid when it needs to get paid, and I can also take a look at all my other accounts while inside the BofA dashboard.
All that being said, I know that some have major problems with them – there are always problems with any bank. So in the interest of opening up a discussion about the pro and con experiences we have all had with our banks, I want to ask you a few questions: Where do you do your banking? Are you happy with your current arrangement? What would make you switch? I am hopeful that if we get a few opinions on different banks, those unhappy with theirs might be willing to make a switch. Let’s talk!