And it's across the board. Even the local and regional banks are sleazy. Last year, I hitched a ride on the Move your money into a local bank wave. I closed out my personal and business accounts at PNC (now the 5th largest bank in the U.S.), and opened accounts at Huntington Bank, a regional institution. I recently discovered that the so-called "business banking specialist" that opened my accounts for me flat out lied about some of the T & Cs, and badly misrepresented others. Nothing that has harmed me in any way yet, but serious enough for me to consider returning to PNC.
I don't understand why the worst and biggest players are not in prison — or were at least tried in federal court.
Thats the thing , people liked big banks because of the perceived security and since they had big profits , services should be free ? Yet last year , B of A wanted to charge their customers a fee just for having a debt card <-- wtf ?
Like you I switched from a large regional bank (after a run in) to a tiny credit union bank.
fwiw; What the run in was at the regional was , when I was laid off for 3 years. I would just sign over my UI checks to my daughter to deposit into her bank because she had to make up the difference to pay the rent and other bills - what I did not know was the regional would (auto) close your account if there is no activity for 3 months ? - wtf.
Anyway , they not only closed my account without warning they also charge me a Fee for closing my account . Now not knowing that they had closed my account (which had a few hundred still in it), I wrote 2 paper checks which was below 100 bucks , which now bounced , so now I had to pay a fee to both the bank and the vendors for the bounced checks.
Free check books - regional free only with 500 minimum checking balance
Free direct payroll deposit - regional 2 buck charge per auto deposit.
Free online banking - regional free also.
Free online Bill payment - regional free but complex to set up, went with 3rd party solution.
Cons; with a small bank ? I found none so far and they provide more free services - however mine has only 3 branches on the island but since I have direct deposit and bank online , I have no reason to go into the bank and stand inline. Well I do have that once a year bonus check that is (live) but I give that to my Gal to deposit - LOL.
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