Which bank should I choose for a new account?

Gerald Palmer66 said:The reality is that nobody can open an account on your behalf except you.
Plus, there isn't really a limit on how many different checking accounts you can hold across various banks.

Then how was that specific account opened? Enlighten me...

I was wondering if anyone knows what the monthly maintenance fees for a checking account at Chase are these days?

Kate Foster12 said:Then how was that specific account opened? Enlighten me...

You're being a bit condescending, and now I feel like heading down to Chase just to open a few accounts for people, purely out of spite...

I'm just trying to offer some perspective, though I don't know the specifics of your situation or what your scholarship agreement looked like. It’s possible you have a specialized account, or perhaps there's some unique arrangement in place—who knows? But if you are indeed the primary account holder, you would have had to sign some sort of legal contract to make the whole thing valid.

There is also the possibility that you are a minor, in which case you wouldn't be able to open an account independently without a legal guardian, like a parent, handling it for you.

Or, perhaps Social Services assigned you a guardian because of a legal incapacity, and they were the ones who set up the account on your behalf. Honestly, that last scenario seems like the most plausible explanation to me.

Arthur Booth96 said:I was wondering if anyone knows what the monthly maintenance fees for a checking account at Chase are these days?

It's about nine bucks.

Gerald Palmer66 said:It's about nine bucks.

I think I heard somewhere that they might bump it up to 14? Or maybe I just misread something somewhere...🤔

It’s crazy how they jumped from 5 to 9 in just a few months.
How greedy can you even get?! 🙄

darkmaker94 said:It’s crazy how they jumped from 5 to 9 in just a few months.
How greedy can you even get?! 🙄

Maybe this is all just some kind of favor for a certain interest group, so I suppose there might not be another hike coming down the pike quite yet.🤷

Honestly, nothing would surprise me if it happened at JPMorgan Chase.

Arthur Booth96 said:I think I heard somewhere that they might bump it up to 14? Or maybe I just misread something somewhere...🤔

From what I understand, there isn't going to be any increase, and honestly, the current fees $3.00 for a standard checking account seem more than enough.

However, if you look at $6.75, you can get a checking account, foreign currency options, interest-free installment plans, and full mobile and online banking, which, if you ask me, is actually quite reasonable.

Generally speaking, most major banks in the US this year are really just focusing on boosting their bottom line through various service fees and other non-interest income.

ruggedfox282 said:Should I open a checking account at the Federal Reserve, Bank of America, or Chase?
What makes one a better bet than the others?

Bank of America

bluehawk3 said:Bank of America

Man, this question was posted like 7 years ago... who knows? Maybe they still haven't even opened the account yet!

😂

I’m seriously thinking about jumping ship from Bank of America because I feel like they’re playing games with my account balances.
Basically, I have this routine where I check my online banking after work to see if my paycheck has cleared. Everything looks fine at first. Then, I head to the grocery store and swipe my debit card. But when I log back in later today, the math just doesn't add up—it’s like the transaction for my purchase hit the account first, plunging me into a negative balance, and then, almost as an afterthought, the direct deposit finally settled.
And honestly, this isn't just a one-off glitch; it’s happened before.

So now I’m spending my evening browsing through different options to see which bank might actually be more reliable. Since I’ve managed to build up a decent amount of savings—both in dollars and some foreign currency I've been holding onto—I want to make sure I pick the right place. What criteria should I be looking at when deciding on a new bank?

That’s really not an issue on your end since they run all their data processing overnight... You aren't getting hit with any penalty or standard interest, which basically means you weren't actually in the red. 😉 For me, if my credit hits in the morning and I drop some cash in the afternoon, by the next day it shows my deposit went in first before the credit was even collected. It’s all just how they handle the ledger entries for deposits and withdrawals... Your statement just shows you the final balance once all the daily shifts settle. You won't even see that temporary dip in the transaction history.

Hmm... okay. I actually went ahead and requested a meeting with my personal banker at Bank of America, so let's just wait and see what they have to say about all this.

So, I’ve currently got my checking, savings, and foreign currency accounts all set up over at Wells Fargo, and I use their online banking too. My savings and foreign currency accounts don't cost me a dime, but I am paying $6 for the checking account plus an extra $0.67 for the digital banking access. Now, I'm hearing rumors that they're hiking those fees from $0.67 up to $3.25 (honestly, a 400% price jump? That sounds absolutely ridiculous—you can't justify a spike like that, and frankly, it feels like grounds for a lawsuit!), so I wanted to pick your brains. Does anyone know which bank is actually the most budget-friendly right now if I want to keep both a checking account and online banking active?

I can only tell you that they actually charge that monthly account maintenance fee for the services at Citigroup that they send over via email $4.00.

Citigroup: checking 7, online banking 10, transfer 2

Bank of America and Royal Bank of America are both sitting at 15-$5.25 ; though with Bank of America, you’re stuck paying an extra fee for a foreign currency card too...

Honestly, it doesn't matter where you go—it’s the same old story of people looking for a quick buck at everyone else's expense.

I would really appreciate some advice from anyone with more experience in this area 🙂

To give you some context, I’ve been a personal customer at JPMorgan Chase for seven years, and for the last year, I’ve also been using them for my business. As a personal client, I was mostly satisfied, but ever since I became an entrepreneur and started using their business services, it has been nothing but a headache! Honestly, their Bank of America service is a disaster. In my city, there are only two branches that even offer the Bank of America business suite, and in those two locations, the staff is never available. They are either on break, at a seminar, or simply nowhere to be found when you need them. I won't even mention how many times I’ve driven all the way there just to find the office empty and have to turn around without getting anything done. It is an absolute waste of my time, and I don't have much of it to spare 🙄 On top of that, whenever I actually managed to catch someone, every single request I had was met with resistance. They are completely inflexible and offer zero support to small business owners 😳
About 15 days ago, I applied for a personal loan—just a modest $10,000. My average income is sufficient, I have no other outstanding debt, and I pay all my bills on time. However, they are fixated on the fact that I paid myself a minimum wage for part of the year, though I’ve been taking a higher salary for the last four months. (I mean, hello? I was working hard to get the business on its feet before increasing my draw 🙂). Because of that, they rejected my first application and demanded a co-signer. Then, just today, I was told that even with a co-signer, it wouldn't pass because he works as a merchant marine on a contract basis 🙂 To cut a long story short via eBay, they have played me for a fool. I don't have another co-signer, and even if I did, I refuse to take out a loan with them or do any business with them ever again, purely out of principle 🙂

So, what other banks would you recommend? I am primarily looking for suggestions regarding both business and personal accounts. For my personal banking, I need fast, modern online banking and the ability to handle currency exchanges through the app. For my business, I desperately need a bank that is more flexible than JPMorgan Chase and offers efficient, responsive service for business clients

From what I can see, people around me are most satisfied with Goldman Sachs and Wells Fargo, but I want to hear about your actual experiences. Please help 🙂