bank advice

I opened my current bank account in Detroit. I chose a nationwide bank, so that I would have access to it from anywhere. Well, now my bank is merging with another national bank. They are changing their computer systems over, one region at a time. So, as fate would have it, Indiana and Michigan are in different regions. Indiana is already converted, Michigan won’t be converted until the end of July.

So, while I can still remove money from my account via my debit card or checks, I cannot deposit money into my account without driving all the way to Detroit (although the bank manager informed me that if I drove to Dayton, I could probably bank there…).

As you can imagine, this annoys me to no end. So, out of all the widespread banks out there, do any of you have recommendations? Do any banks have any particularly good checking accounts, etc?

  1. I have a bank account through the bank of the internet (bofi.com). They have 3.00 APY on their free checking with offices in San Diego. If most of your income comes in via Direct Deposit, this bank would be fine. When you open your account, they send you a bunch of paid postage envelopes into which you can stick deposit slips. I’ve been fairly happy with them thus far (~4 months). You get a debit card and some number of checks when you open the account. Supposedly they have free bill pay, also. I haven’t been able to get that to work yet, though.

  2. Beck and I use BOFI.com also. It’s been great so far. They reimburse ATM fees. We just started using the free bill pay and its worked great also. You can even email the president and he’ll try and reply to you within 24hrs.
    The only problem is that if you ever want to actually walk into a branch you have to go to cali.
    I’ve found its actually easier to deal with them online vs. a teller at a normal bank. (hurray for social disconnection)

  3. oh, and you have to be patient to open an account. It takes about two weeks since all the forms must be mailed to you, filled out, and mailed back. Not really that bad though.

  4. As an aside, Bank o’ Interweb has pretty good rates for cds. If you don’t care about having all of your money in one place, and you want to keep some money in (fairly) easily-cashable moderate interest accounts, check out Orange Direct.

  5. i also have some money with orange direct. good stuff too.

  6. I’ve had really good luck with netbank.com as well. I think they are the bank that bofi based their business model on.

    They don’t have some of the stuff that bofi has (2.7 apy on MM and not branches I’m aware of) but the application process is a lot faster, including the funding process.

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