|
|
09-28-2014, 09:42 AM
|
#1
|
Recycles dryer sheets
Join Date: Jun 2014
Location: Olympia
Posts: 55
|
Online Banking?
I am ready to leave Bank of America. We take many impromptu trips on the weekend and twice I have had my debit card rejected because BoA didn't know about my travel plans! Does anyone bank with Ally? I do deposit physical checks at least once a month and didn't know if that would be a hassle. I live in the Pacific Northwest and have also started looking at Umqua Bank.
I will be retiring in 2 months and will need to have everything set up at least 30 days before so my pension can be deposited into the account.
|
|
|
|
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
09-28-2014, 10:11 AM
|
#2
|
Recycles dryer sheets
Join Date: Oct 2013
Posts: 281
|
I think you're looking at a two edge sword here - pretty solid fraud protection at the risk of the occasional rejection vs less monitoring in exchange for potentially less fraud protection.
BofA does now have an EZ online tool to advise of change in buying behavior patterns (i.e. travel). It might work well with your spontaneous travel lifestyle.
We do carry a second credit card as well, for 'just in case' scenarios such as you've described.
Edit: BofA was pretty quick to adapt to our changing buying patterns in retirement. (I.e., frequent RV trips including lots of charges at gas stations, campgrounds, RV parks and restaurants in non-local areas.) One call to explain your lifestyle change, or same via their online tool, might be enough to resolve your issues.
|
|
|
09-28-2014, 10:20 AM
|
#3
|
Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 2,223
|
Have had cd's and money market with Ally , and the failed predecessor for years. Never had a checking acct. with them. They really do have 24/7 call center support , and the call center is in the US.
|
|
|
09-28-2014, 10:36 AM
|
#4
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2005
Posts: 17,205
|
Agree with RetiredandFree about letting them know about your travels... especially for a debit card....
Not sure about BofA, but at least once when we did inform Capital One about travel, they kinda ignored that DW was traveling... when I called and asked, they said "Why did you not inform us?" to which I replied "I did".... they looked and saw that I did... so, it is not always 100% accurate, but at least a good step...
|
|
|
09-28-2014, 10:59 AM
|
#5
|
Thinks s/he gets paid by the post
Join Date: Jun 2007
Posts: 2,657
|
BofA is aggressive about shutting down cards when the spending pattern changes, but they have also immediately reactivated them when called. Assuming you are willing to make a quick phone call when fraud triggers are tripped, they should be no problem to use.
|
|
|
09-28-2014, 11:07 AM
|
#6
|
gone traveling
Join Date: Sep 2013
Posts: 1,248
|
Look at Schwab bank. Online banking, access protected by hardware Symantec VIP key. Excellent exchange rates when using ATMs oversees.
Google it. It is rated very highly....
But it is good to have also local bank account.
|
|
|
09-28-2014, 11:16 AM
|
#7
|
Full time employment: Posting here.
Join Date: Mar 2012
Location: seattle
Posts: 646
|
This is very minor for your issues, but even BofA allows smartphone check deposits with their free app. Take pictures, send them in , keep the paper check for 14 days. The whole thing takes 90 seconds and you need not go near the bank.
Ahh...looks like Umpqua has a similar program anyway and so does Ally!
|
|
|
09-28-2014, 11:17 AM
|
#8
|
Recycles dryer sheets
Join Date: Jun 2014
Location: Olympia
Posts: 55
|
BoA isn't consistent with deciding to deny my debit card. I've used this debit card in Oregon, different places in Washington and even took a 2 week vacation in Canada where thankfully my card worked for buying some groceries.
Thanks for some of the tips you all have given me. Yes, maybe I had better keep some kind of local bank branch available.
|
|
|
09-28-2014, 11:31 AM
|
#9
|
gone traveling
Join Date: Sep 2013
Posts: 1,248
|
Why would one do online banking without 2 factor authentication?
That is without RSA or Symantec hardware key.
|
|
|
09-28-2014, 11:38 AM
|
#10
|
Recycles dryer sheets
Join Date: Jun 2014
Location: Olympia
Posts: 55
|
Quote:
Originally Posted by growing_older
BofA is aggressive about shutting down cards when the spending pattern changes, but they have also immediately reactivated them when called. Assuming you are willing to make a quick phone call when fraud triggers are tripped, they should be no problem to use.
|
Unfortunately Tracfone doesn't work in Canada so I can't get an alert.
|
|
|
09-28-2014, 12:00 PM
|
#11
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Location: Charleston, SC
Posts: 13,566
|
I recently closed an account with BofA that I'd had for 30 years. You can imagine it took a lot to overcome my inertia!
I use Schwab Investor Checking tied to my brokerage account and love it! Mobile check deposit, all ATM fees reimbursed, and no foreign transaction fees.
I plan to open up a small credit union checking account to replace BofA account, but will choose one with mobile check deposit for sure.
As a frequent international traveler to VERY sketchy places, I am long-accustomed to notifying credit card and banks of my whereabouts.
When DH's Schwab card was declined in remote Siberia, I was able to call them and sort it immediately. Most of the time our problems are when the local (where we are traveling) system is down. We always carry a backup card on another system, as well as at least three credit cards.
Although I did forget to call Schwab to tell them I was going to Canada earlier this year, and had to send a message online to get it turned on after I got up there.
__________________
“One day your life will flash before your eyes. Make sure it's worth watching.”
Gerard Arthur Way
|
|
|
09-28-2014, 04:05 PM
|
#12
|
Thinks s/he gets paid by the post
Join Date: Jul 2012
Location: Texas
Posts: 3,024
|
I have a savings account at Ally just to park some cash earning 0.9%. All normal banking type activities are done through a cash management account at Fidelity. I also have a Wells Fargo account just in case I need some local brick-and-mortar type service that Fidelity doesn't offer. But I hardly ever use it. The Fidelity cash management account has check-writing, bill pay, free ATM, mobile check deposit, FDIC insurance, and no fees. I never use debit cards except at ATMs. When traveling, I call the credit card company and give them my dates and locations. Never had any trouble.
__________________
Retired at 52 in July 2013. On to better things...
AA: 85/15 WR: 2.7% SI: 2 pensions, SS later
|
|
|
09-28-2014, 04:36 PM
|
#13
|
Thinks s/he gets paid by the post
Join Date: Feb 2014
Location: Williston, FL
Posts: 3,925
|
Fidelity, US Bank, American Express Bluebird, are all OK.
__________________
FIRE no later than 7/5/2016 at 56 (done), securing '16 401K match (done), getting '15 401K match (done), LTI Bonus (done), Perf bonus (done), maxing out 401K (done), picking up 1,000 hours to get another year of pension (done), July 1st benefits (vacation day, healthcare) (done), July 4th holiday. 0 days left. (done) OFFICIALLY RETIRED 7/5/2016!!
|
|
|
09-28-2014, 04:37 PM
|
#14
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Posts: 11,401
|
The OP mentioned having debit frozen while away from home. I don't use debit much. However, I have had my credit card frozen twice while traveling, despite informing the financial institution beforehand. There is always some small print to notify you that they are not responsible. Therefore I now carry three credit cards (all no-fee, of course) and two debit cards, and I always get some of the local currency. Just in case.
|
|
|
09-28-2014, 06:05 PM
|
#15
|
Thinks s/he gets paid by the post
Join Date: Nov 2006
Location: Bossier City
Posts: 2,183
|
My federal credit union will reject charges to my debit card if they are made from any substantial distance from my home area. I'm ok with this. I don't mean in the next town over, but for instance if I am hundreds or more miles from home. I was once the victim of somebody fraudulently charging $500 to a debit card of mine (different credit union) and I didn't like it. I'm happy that my current bank keeps a close eye on thing for me. All I have to do is give them a quick call when I'm traveling and let them know, and then there is no issue. IMHO, a small price to pay for the security.
__________________
“Change is the law of life. And those who look only to the past or present are certain to miss the future.”
-John F. Kennedy
“Hard work never killed anybody, but why take a chance?” - Edgar Bergen
|
|
|
09-28-2014, 07:34 PM
|
#16
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2005
Posts: 10,252
|
Why worry about a debit card … don't you use a cash-back credit card instead? And pay in full every month.
|
|
|
09-28-2014, 08:25 PM
|
#17
|
Thinks s/he gets paid by the post
Join Date: Oct 2008
Location: Naples
Posts: 2,179
|
Quote:
Originally Posted by FedExCourier
BoA isn't consistent with deciding to deny my debit card. I've used this debit card in Oregon, different places in Washington and even took a 2 week vacation in Canada where thankfully my card worked for buying some groceries.
Thanks for some of the tips you all have given me. Yes, maybe I had better keep some kind of local bank branch available.
|
I bank with BOA. Never had your problem. My card is a combination credit/debit card. When traveling out of my immediate area, I always use the card as a credit card. Also, I get instant emails from BOA if debits or checks exceed a limit set by me.
PS: I'm starting to see more use of the new "chip" credit machines in stores. Looks like were on our way to a more secure system.
|
|
|
09-28-2014, 10:12 PM
|
#18
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,309
|
I travel somewhat spontaneously and never had this problem with BofA. I did have fraudulent charges on my card during one trip. BofA caught the problem and sent me email, voicemail and a text message. When I contacted them, they reversed the charges and issued a new card. I was very pleased with the way it was handled. I guess it could have gotten ugly if the charges had been detected before I returned home, but I have a backup card if case of a problem.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
|
|
|
09-28-2014, 10:39 PM
|
#19
|
Full time employment: Posting here.
Join Date: Mar 2004
Location: No Where for Very Long
Posts: 769
|
Quote:
Originally Posted by eta2020
Look at Schwab bank. Online banking, access protected by hardware Symantec VIP key. Excellent exchange rates when using ATMs oversees.
Google it. It is rated very highly....
But it is good to have also local bank account.
|
+1 While living abroad Schwab has been my good friend.
FWIW, a Visa Fraud agent once told me that (Visa) would not deny an ATM transaction when I was abroad, even if I had not notified my bank of my travel plans. Using my Debit card at a merchant was an entirely different matter and could easily trigger a refusal to accept the charges if my account had not been 'flagged' with a notice that I was traveling abroad.
Don't shoot the messenger, its just what I was told.
I have used ATM cards, from several different banks, in Thailand, Cambodia, Philippines, Bangladesh, Kenya and China and never notified the bank of my whereabouts. I don't carry my ATM card on my person; I keep it locked up back in the room in my Pac Safe. The only time I carry my card is when I'm making an ATM run or on a motorcycle trip.
I have received the message "Contact your Financial Institution" and no money, but I believe that was usually because the system was down.
__________________
|
|
|
09-29-2014, 03:09 AM
|
#20
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2006
Posts: 7,733
|
Another enthusiastic Schwab bank customer. Really excellent customer service.
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Thread Tools |
|
Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|