Minneapolis/St. Paul Nesties
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Banks and their fees...
Ok, I tried to do a clicky poll, but it was formatting weird. My bank is merging with a bank I've never heard of in the near future. They also just changed a bunch of their fees. I've been thinking about switching banks for my checking/savings for awhile now, but just haven't done it.
Where do you bank?
What do they charge for overdraft fees?
What are some other fees that they have?
Do they have a lot of ATM/Branch locations in the Twin Cities and suburbs?
Would you recommend them to friends/family?
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Re: Banks and their fees...
I bank with M & I and they don't have many locations but happen to have one near work so I don't have to go far. I love their cash back checking and have no complaints. I think their overdraft fees are $33-35, not sure about any other fees I haven't noticed any.
I HAVE gotten just over $100 in cash back bonuses though which I LOVE. I get a .25 for online banking, .25 for online bill pay per bill, etc. And one thing I learned before I started banking there is that if you go to a NON M & I ATM and they charge me a fee M & I will give me my money back if I bring my receipt in to them.
I'm with WF (you know who I mean - they're everywhere) and I am relatively happy with them. They have a few policies that irk me - processing deductions before deposits- and big deductions before smaller ones - but there was just a ruling in CA yesterday that ordered them to pay back a bunch of fees charged due to such policies. I think all banks do similar things to squeeze every possible cent out of their customers, so it really doesn't bother me that much.
As for overdraft - I have their credit card so rather than getting a full overdraft fee, if I do go over my checking account balance, that amount is put on my card and a minimal fee is added ($10-15, I think). Plus, I get points with the CC and while it isn't as good as airline miles, right now it is enough to buy us a nice new flatscreen - if we want (which we don't at the moment so the points keep building).
We also have a higher interest savings account with them - probably not as good as a CU account, but it has a much better interest rate than their normal accounts. Not sure how we got signed up for it as it was DH who took the lead there.
The only fees we have are 1) overdraft - which are smaller than normal and thankfully a rare occurrence (even with their irksome processing practices) and 2) a $33 annual fee for the points program on all of our accounts. It is primarily on the Visa/cc but also on the regular check-cards.
Where do you bank?
M&I
What do they charge for overdraft fees?
I think $33. You can have a savings with them or a CC and have a much lower fee, maybe around $7 or something for them to cover your transaction with either the CC or your $ in savings. I think the savings minimum is $250
What are some other fees that they have?
I have not encountered any fees. They won't charge me to take money out anywhere and if that ATM charges me they'll reimburse me that charge w/my receipt.
Do they have a lot of ATM/Branch locations in the Twin Cities and suburbs?
I have one nearby and they seem to be popping up more and more.
Would you recommend them to friends/family?
Absolutely, have and will continue to do so.
Where do you bank?
US Bank, TCF (which I don't use often at all)
What do they charge for overdraft fees?
$37 I think. They've recently rolled out a program after banks got into a smidge of trouble for over charging folks for fees. So now, you have the choice to 'opt out'. Meaning your card will just be declined if you don't have the available funds.
Which is cool, but if you have $30 in the bank, and go to the gas station fill up for $30, pay at the pump, you only get $1 charged. So, my account is basically telling you that there is still $29. Which if you spend it, then you'll go negative because you've actually spent $30, not $1.
Similarly, using your debit card basically puts a hold on the funds you're charging. If after three business days, the company you bought something at, does not claim those funds through visa/mc/etc, then it is credited back to your available funds. The thing is that the money is still spent. They'll come back and claim it later.
AT&T got in trouble with the pre-orders on iPhones because of that, and many stores didn't accept debit cards because of it.
What are some other fees that they have?
Unavailable funds fees, which I've been hit with before. If you have pending transactions, that exceed your available balance, they charge a fee. Which is basically an electronic version of having an outstanding check that is more than your balance. Which they can't track. So, no fee. Electronically, they can check it.
I think those fees came into place because people would 'cheat the system'
I think there are over limit fees on credit cards, etc.
Do they have a lot of ATM/Branch locations in the Twin Cities and suburbs? A lot of US Banks in our area. Also one in our building.
Would you recommend them to friends/family?
Yeah, I think it is a good bank. Banks are kind of the same just gussied up in other areas. We're a top 5, last time a checked, which was a while ago.
Zuma Zoom
I'm still with my hometown bank. I would never go with a large bank. The fees are much higher, and they have no idea who I am. When I needed money to go back to school a few years ago, I walked in with my dad and got the loan.
ATM/cash fees are really a low priority for me. If I need cash (which I rarely do) I just get it when using my debit card at the grocery store/Target/Wal Mart/whatever.
We do have a bank Up Here too, and they have been great to work with. We had some delays with our mortgage and closing on our house due to our rural development loan, but they were always right on top of things.
I think small banks and credit unions are really the way to go.
Where: TCF, US Bank and Anoka Hennepin Credit Union.
Overdraft: TCF & US were both quoted to me as $33 when I opted for the overdraft protection. I only have savings at the credit union.
Other Fees: I haven't incurred any, other than the ATM fees for using a non bank ATM.
Locations: TCF & US both have many locations. The credit union has lots of locations in the northern 'burbs.
Recommend: Honestly I dislike both TCF and US Bank. But I've had the TCF account since college and I use it as my daily use card and rarely have cash. US Bank is my bill pay account and I use it for that purpse only. I also have reserve there so I can use it as a revolving line of credit. The credit union is my savings accounts for various things.
US Bank
They are changing as of 8/15 so I think it is $10 if you are OD by <$20, $37.50 if you are over by more, max of 3 OD's per day. I may be off on the amounts but it is a tiered system. I have it linked to savings though so it pulls from there. The only problem is that even if $5 would cover it, they transfer in $200 increments.
None
Tons
Yes, I have. We have the rewards checking and because DH is a veteran, we qualify for platinum checking without the min. balances. We earn points on all non-ATM transactions and no ATM fees from US Bank. You do not have to have platinum checking to get the rewards, you just earn points a little faster. We have already received a $50 visa gift card and we are just about to another one in about a year on the program.