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Online bank recommendations?
06-05-2014, 01:53 PM
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#1
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Dryer sheet aficionado
Join Date: Apr 2010
Posts: 47
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Online bank recommendations?
I need to find an online bank to use. What I most want: no-fees for any ATM withdrawals, reimbursement of fees charged by ATMs of other banks, no fee for withdrawal of foreign currency (Euros) at foreign locations, easy way to deposit checks. A decent interest rate would be nice but rates are so low right now I'm not sure it really matters. Any recommendations?
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06-05-2014, 02:04 PM
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#2
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Recycles dryer sheets
Join Date: Jun 2013
Location: Chattanooga
Posts: 499
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I use Capital One 360 online (formerly ING bank). No ATM fees IF you use an Allpoint branded terminal. Deposits can be made by mail but I use a phone app to snap pictures of check front and back and is pretty painless. Current rates are competitive (0.75% on savings; checking depends upon balance). There are no fees.
They state "If you use your Card for a foreign transaction (any transaction made in a foreign currency or that MasterCard classifies as a cross-border transaction), we won't charge you anything." I've only done this in the UK.
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06-05-2014, 02:14 PM
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#3
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Thinks s/he gets paid by the post
Join Date: Mar 2013
Location: Southern California
Posts: 3,999
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I use Ally for online savings. They pay .87% interest, which is about as high as I could find. I do not use them for ATM services though. I keep a local Bank of America checking account for that. There are no fees for their account, I get free checks, and I can find a Bank of America ATM on just about every corner, so no charge for ATM withdrawals as long as I use one of their ATMs.
I suppose it would be nice to find an online bank that also has free ATM services regardless of whose brand of ATM machine you use. I would think that if you found one though, the tradeoff would be lower interest rates, and I'd rather have the best of both by using two different accounts.
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06-05-2014, 02:24 PM
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#4
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Recycles dryer sheets
Join Date: Nov 2012
Posts: 103
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If you have a Schwab account, their credit/debit card has no ATM fees no matter where you withdraw from (or they reimburse you for them), and no foreign transaction fees. They also have mobile check deposit.
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06-05-2014, 02:25 PM
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#5
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Recycles dryer sheets
Join Date: Feb 2013
Location: Makakilo and Reno
Posts: 374
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Schwab Banking is very good. They charge no fees for any machine at all and they reimburse you for any fees the ATM bank charges you. I do what Ready suggests, all ATM needs are processed through any ATM terminal and my cash is in Ally, Everbank, and CIT. When the Schwab funds get low I just go online and move money from one of those places to Schwab.
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06-05-2014, 02:39 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 4,366
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Fidelity has a cash management account with free any ATM use. Not sure about the foreign withdrawals. The usual low interest rate. I use Ally and Sally Mae for cash I don't need for a short time.
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06-05-2014, 04:56 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Jul 2007
Posts: 3,228
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I also use Schwab, mainly for the reimbursement of all fees for ATM cash withdrawals when travelling outside the US.
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06-05-2014, 05:08 PM
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#8
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Apr 2004
Location: South Texas~29N/98W Just West of Woman Hollering Creek
Posts: 6,673
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Another vote for Ally. It's all temporary anyway...
__________________
Part-Owner of Texas
Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx
In dire need of: faster horses, younger woman, older whiskey, more money.
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06-05-2014, 06:55 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Aug 2013
Posts: 1,660
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We have AMEX savings. Good rate and no fees. Not sure about the ATM as we just use credit union (which is linked via ACH to Amex both directions).
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06-05-2014, 07:09 PM
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#10
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Dec 2008
Location: On a hill in the Pine Barrens
Posts: 9,713
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We opened a Schwab brokerage today. It is linked to "High Yield" checking account. I went to a local office to get this rolling, and now can access online.
Reimbursement of ATM fees and no money conversion costs is a really nice feature.
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