Looking for a new bank/credit union

Discussion in 'Community Discussion' started by ben123456, Oct 22, 2014.

  1. ben123456 macrumors regular

    Joined:
    Jan 22, 2012
    #1
    Hi, i am currently a student(17 years old, turning 18 decently soon) and i am looking for a new bank to open an account. Over the summer i got a job and earned a good amount of money(for a 17 year old) and for once i have a lot of free money. I currently have a checking account with my local bank and an investment account with E*Trade. But my local bank is very behind tech wise, they only recently got an iPhone app and the app is very basic and almost useless(only view account info), and they have no plans to support :apple:Pay in the near future and most at the bank didn't even know what it was in the first place. With that i started looking at a new bank or credit union that is more advanced and ahead with the times. So i am looking for a Bank or Credit Union that has a very low or no maintenance fee, good atm network or one that reimburses atm transactions(don't need much just 1 or 2 times a month), a decent phone app(mobile check deposits are a biggie), and one that supports :apple:Pay or plans on supporting it in the near future. I also live in the Chicago area. So any help suggesting a Bank or Credit union would be greatly appreciated!
    Thanks!!
     
  2. Jessica Lares, Oct 22, 2014
    Last edited: Oct 22, 2014

    Jessica Lares macrumors G3

    Jessica Lares

    Joined:
    Oct 31, 2009
    Location:
    Near Dallas, Texas, USA
    #2
    I like Chase. They don't charge a fee if you use your card/write a check/etc at least three times in the month.

    If you overdraft, they also give you a one time exception every year if you ask them the day it happens. :D

    My parents have been with multiple banks over the years otherwise, and they were never happy with them for one reason or another.

    But lots of guys here will still say a credit union is better.
     
  3. BasicGreatGuy Contributor

    BasicGreatGuy

    Joined:
    Sep 21, 2012
    Location:
    In the middle of several books.
    #3
    Bank of America checking account is free if you can do all your banking via the app or through their ATMS.
     
  4. malman89 macrumors 68000

    Joined:
    May 29, 2011
    Location:
    Michigan
    #4
    Most major banks (and probably smaller/CUs) have student accounts with absolutely zero minimum balances or account fees (no $x/month if don't hit that minimum, still things like overdraft fees). Or if you're going to college (maybe not til next year), many partner with a local bank (could be national, could be regional) that typically has on/basically on campus locations or ATMs and typically does sign ups at orientation and/or welcome week.

    I've had Chase since they were Bank One around here and they're great, national, super handy app for remote check deposits or checking your balance, and are pretty much everywhere that I've been. They probably have the most branch/ATMs in Chicago if my memory serves me correctly (lived there 2007-11). It might make a difference if you plan on moving somewhere that might not have Chase.
     
  5. question fear macrumors 68020

    question fear

    Joined:
    Apr 10, 2003
    Location:
    The "Garden" state
    #5
    I like TD Bank if they're in your area. Their branches are open nights and weekends, and their account fees are very straightforward. No fees if you keep $100 in your checking, $300 in your savings. No crazy rules about transactions per months/direct deposit/no using the branch, etc.
     
  6. adk macrumors 68000

    adk

    Joined:
    Nov 11, 2005
    Location:
    Stuck in the middle with you
    #6
    Since you seem to value a slick app and the ability to pay for potato chips with your cell phone more than reasonable fees and good customer service you'll probably be most happy with a national bank like BoA, Chase, or Wells Fargo.

    I see that you live in Chicago - I would recommend you look into Alliant Credit Union. They'll pay you a little bit of interest on your checking account and their fees are reasonable. The only catch is that all of your cash deposits and withdrawals have to be through an ATM, but you can deposit and withdraw cash at many non-Alliant ATMs for free. I'm not really sure what you're looking for in a banking app ... Alliant lets you view your balance and transactions as well as deposit checks with your cell phone.
     
  7. AustinIllini macrumors demi-god

    AustinIllini

    Joined:
    Oct 20, 2011
    Location:
    Austin, TX
    #7
    Grew up in Chicago. Had BMO Harris forever. I would recommend them.
     
  8. ben123456 thread starter macrumors regular

    Joined:
    Jan 22, 2012
    #8
    Do they have a good amount of branches outside the midwest region as well? I've never looked to far into BMO
     
  9. AustinIllini macrumors demi-god

    AustinIllini

    Joined:
    Oct 20, 2011
    Location:
    Austin, TX
    #9

    I'm not sure, honestly
     
  10. ben123456 thread starter macrumors regular

    Joined:
    Jan 22, 2012
    #10
    What kind of account is that? when i looked on chases website it showed a monthly fee but nothing about if you use your card 3 times a month than the fee is waved,
     
  11. Jessica Lares macrumors G3

    Jessica Lares

    Joined:
    Oct 31, 2009
    Location:
    Near Dallas, Texas, USA
    #11
    Was just reading my last statement. I think the terms recently changed slightly. Anyway, the way it tells me I can avoid the fees is if I have a direct deposit over $500, OR use my debit card 5 times.
     

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