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Post by CAwasinNJ on Jul 12, 2009 21:32:01 GMT -6
I'm looking to switch banks for my savings & checking. My current bank is insulting my intelligence with an interest rate that barely exists. Any suggestions on who I can go with that will give a nice rate of return and won't play games?
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dolt
Member
hopping thither and yon
Posts: 89
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Post by dolt on Jul 12, 2009 22:53:04 GMT -6
I am interested in good suggestions also. My bank has changed hands four times since I opened the account.
Thinking of going the credit union route. Something where the majors at least are in the community.
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Terry
Silver Level Member
Posts: 488
Usual Listening Area: east Murray
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Post by Terry on Jul 12, 2009 23:01:45 GMT -6
In my opinion, all credit unions are better than all banks. Locally, America First is the biggest and I like it. I have used other credit unions too and have liked them. All credit unions are non-profit organizations, technically owned by the depositors. They almost always pay better dividends on savings and charge less interest for loans than banks.
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Post by CAwasinNJ on Jul 13, 2009 21:59:47 GMT -6
I'm a member of America First and I'm scared to leave any significant money there. They've completely fouled up so many times that it seems a folly to give them control over my finances. I moved my money out of there 3 years ago.
Here's my favorite story. There was something or another that got fouled up (I can't even remember what) and AF was repeatedly trying to reach my by phone to discuss the matter. The problem is, due to lack of actually using it, I had unplugged the phone and the dead answering machine had never been replaced. So, I didn't know anyone was trying to get a hold of me. Ok. What annoyed me was that there was no attempt at all to notify me of anything by good old fashioned snailmail. I think it's fine to try to contact people by phone, but best practice would certainly be to send a letter as well so you can be sure the member/customer/whatever gets it. But that wasn't even the big problem. I wrote a letter to member services (or whatever their wacky name is) to explain the above sentiment, and to point out that I wasn't reachable by phone at all and that a mailed letter would be a great idea. I hear nothing for three weeks. Then I get a letter in the mail saying that they were interested in my concerns and had been trying to contact me by phone for the past few weeks but had been unable to reach me. Yes, to discuss my concern that I didn't get any snailmail because I couldn't be reached by phone, they were trying to reach me by phone. Geniuses these people. True geniuses. It was at that point that I realized that they have no idea what they're doing and pulled my money out.
As a follow up to this, I'll give you an idea of what happened when I just a month ago signed up with Zions Bank for a new money market account. The interest rate was good, and I thought this was going to be a good solution. It's an internet only account, and as could be expected you have to do most of your banking online. That's ok, but part of the terms you have to agree to when you access the website to control your account is to accept all legal disclosures and notifications online. See previous, plus about 4 or 5 other billing computer screwups I've dealt with over the past 10 years. So that's right out.
Bottom line, why is it so damn hard to find someone who will treat you well these days?
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