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Help me find a new checking account -- Chase or Capital One? Stay where I am?
The banking choices in Louisiana are like a barrel of rotten apples. The only thing you can do is chose the least rotten one.
I'm trying to figure that out. It's a lot of long stories here that I won't bore you all with. Suffice it to say, my current bank is merging with a bank I already had an account at...that I closed...because I was furious about a decision they had made. With that said, the hated bank is where I have my mortgage and HELOC, so I do business there anyway. Maybe I should keep everything as it is, my account rolls over to old hated bank, and I get over it (sigh)? I am furious at my current bank because of how badly they have botched this merger and have made it incredibly inconvenient for me now, location-wise. The location problem will be worked out in mid-May, but that is three weeks away and I'm spitting nails at the moment.
I am big on convenience, in terms of location. Unfortunately, that means my only other choices are Chase or Capital One. Which I suspect are awful choices also. Does anyone have checking accounts with either of those banks? Thoughts? There is a Chase branch that is walking distance to my house. It is usually ridiculously busy, but it sure is convenient, so I'm kind of leaning toward Chase.
Re: Help me find a new checking account -- Chase or Capital One? Stay where I am?
I also have credit cards with both Chase and Capital One. I haven't been happy with the Chase ones because important things like credit limits have been a moving target. They swing them widely on me. In the last 18 months, I went from $3K to $5K. From $5K to $8K. Then $8K to $2K. And I'm sure when my cc utilization gets back under 25%, they'll swing it back up again. In all that time, my charging/paying habits on the that card haven't changed one iota. So it's all just irritating to me for no reason.
I know I'm kind of "grandma" about it, but I just prefer doing banking in brick/mortar banks. Plus some of my tenants pay their rent in cash so, however I slice it, I need a branch I can walk into.
In my experience, as a customer and as an employee, I have zero complaints. I have nothing to rave about, either, though. My expectations I guess are quite low; I'm a pretty low maintenance customer. There has been a company culture shift in the time that I have been gone (almost six years) but I've never been impressed with them in the Wealth Managment space.
I have zero experience with Capital One in any capacity.
I moved everything over to Fidelity, and we don't have an account with a "traditional" bank anymore. The ATM card works worldwide, they do not charge a currency conversion fee, and they reimburse all ATM fees worldwide. Literally everything is completely free to me, including ordering new checks. I can deposit checks with my phone, and our paychecks are direct deposited. The only thing I can't do is deposit physical cash. This is not a problem because I virtually never have to worry about physical cash in any meaningful quantities - at most I might receive $100 at any given time, and then we just spend it down or hang onto it for our cash emergency fund.
If you do need to deposit lots of physical cash then I would go with Chase. Capitol One is meh.
CapitalOne can burn in hell. They're the only bank aside from BoA that I hate. They locked my online savings accounts with them (over $70k in deposits) when I tried adding my wife as we were moving accounts. I had to tell them to close my accounts before they'd find someone to unlock them.
Thanks, that's interesting. When my H and I were renters about 6 years ago, we deposited the rent into our landlady's account every month. I thought it was great and convenient for everyone. Sometimes it was cash, but not usually.
As it stands now, my "cash" tenants, give me the cash. They don't deposit it into my account. But if they did, it would be my LLC account.
I guess the other reason I like physical banks is, if I have problem, I want to TALK to someone. In person.
@hoffse, despite my preferring physical branches, you're intriguing me with Fidelity reimbursing for ATM fee withdrawals.
Definitely getting a "no Capital One" vibe from everyone! Fair enough. Plus, when I checked out Chase's accounts online, they have a special where they'll deposit $200 into my account after my first direct deposit. Bribery works with me. (Oops, didn't see @smerka's response yet).
I like that you can pretty much find a Chase anywhere you go, and their online banking is very easy to use. It's very easy to transfer money to H even though he isn't a Chase customer.
I also like having a physical bank to walk into so my primary banking is at Navy Federal. The Chase checking exists only to pay my mortgage.
I would go just both of them in Bricks and Mortar locations and learn about their products, ask your questions to see if they can meet your needs and expectations and see what you like about them and then go from there. Chances are you would visit with a personal banker and s/he would be able to answer your questions.
What would interest me would be who calls you to follow up once you have left to come back and do business with them.
Also, while every account is accessible at any branch location via the bank's computer system, whatever location you open your accounts in is the HOUSE for your account. That location will be the one to decide on fee reversals (if ever needed) and account maintenance issues. So pick one you like and that is close enough to you distance-wise.
Everybody has a love it or hate it story from every bank out there, so it's hard to make a decision based on that.