Time To Leave Citibank - Suggestions for New Bank?

detour

Even though Bank of America has come to realize the egregious error of charging their customers a $5 fee for using a debit card; Citibank has decided it will be good business to levy a $15 fee on checking accounts that don't meet certain minimum balance requirements. Therefore I think it's finally time I go forth and find a new financial institution.

I am officially soliciting advice, suggestions, etc. My criteria are simple: no fees, good ATM network, and preferably something with a local branch (maybe a free toaster for good measure).

talk amongst yourselves...

whynot_31

HSBC?

carmen

This doesn't really apply to you because you want local branches, but I wanted to give a shout out to USAA- while they have no branches and are completely virtual, they have no fees or minimums on checking (no, I don't work for them...I'm also jumping ship from citibank!)

detour

Carmen. I think your suggestion is applicable. Thank you. I'd look at going virtual as well; it's just not my first choice.

bohuma

We went through the same thing a year or so ago and settled on Capital One Bank, we only pay fees if we use a non-Capital One ATM or buy check books. They have a reasonable branch network in NYC. We have considered Wells Fargo as we have our mortgage with them and as such they'd give us their premium account for free, however, they have no branches in Brooklyn and we can't live on Manhattan ATMs alone.

cmc

I use M&T Bank on Flatbush (at 8th Ave) and have had a good experience

emily

Ally Bank not only has no fees but also reimburses unlimited ATM fees, so you can basically use any bank or random bodega ATM you want. Highly recommended. It's online, so you used to have to mail in checks, but they just released some scanned check thing that I haven't used yet. So there're no local branches, but I don't see much downside to that.

ETA: Link: http://www.ally.com/bank/interest-checking-account

Also, you can online chat w/ them which is nice if you want to ask a question without the whole office overhearing. And they have good savings accts and CDs too. I have all of the above.

iowagirl

Check out Amalgamated Bank. Its main office is at Union Square, but it has branches in all the boroughs as well as ATM access everywhere. I closed our account there because we went local, but it was started by a union and has great service.

We use Astoria Federal Savings on 7th and President, and have been very happy with them too. They're not big like Citi either.

puply

I also think M&T Bank is great. Have banked with them for 3 years without problem, after leaving Citibank.

oneoneone

I'd run your account balance by any future suitors and see if they would incur fees of their own. Fees are becoming commonplace and banks feel more comfortable risking your business than that of the big(ger) shots.

That said, I've been happy banking with Etrade.

slopeduder

whynot_31 said:

HSBC?

HSBC definitely has minimum balance fees, they got me once.

boygabriel

I have HSBC now. They instituted minimum balance this year.

Shortly I will be switching to a local Brooklyn credit union.

There are credit unions all over, with all kinds of ways to become a member. (churches, professions, location)

http://www.findacreditunion.com/

Also, this:

http://www.brokelyn.com/brooklyn-credit-unions/

Credit unions 101: Everything you need to know to get your money out of big banks

detour

Thanks to everyone. I am so far considering TD bank, Capital One, Ally Bank and I want to check out that community bank on 5th Ave and 21st street (I forget the name). I'd be interested in a credit union, but I don't think I qualify.

boygabriel

Did you search the site? there are many credit unions that are based on location.

(your neighborhood, your section of BK, etc)

wonderroom

TD Bank definitely charges fees. I left them because of it.