Which bank should I choose for a new account?

Mark Sullivan62 said:it isn't 😁

at least when we're talking about Zelle or Maui or American Express cards, the interest kicks in on the due date, not the actual moment the transaction goes through.

Alright... let me walk through this so I can wrap my head around it.

1) I made a purchase on October 2nd for $333 (well, wasn't really for me, just for some gaming stuff)
2) My statement says my bill is processed on the 25th of every month.
3) On October 15th, I get a notification saying I've spent $333 and that it'll be billed on October 25th.$33
4) On October 25th, I pay off $33, leaving a balance of 900
.
So, starting from what specific date does the interest start accruing on that $300?

Kimberly Nguyen said:Look, when it comes to Zappos, they aren't going to go sniffing around for some other bank's authorization just to open an account for you, nor will they care if your balance starts dipping into the negatives once your paycheck hits.

As for Chase, I can't say for sure, but Zappos doesn't offer installment payment options on their Maestro cards like Chase does... if my memory serves me right, I think Chase is the only one offering that kind of flexibility.

Spot on. With a Chase debit card, you can actually split payments into interest-free installments—kind of like using virtual checks. Just a heads-up though: it’s probably worth swinging by a branch to see what your specific limit is, since that available amount tends to shrink over time if you aren't careful.

Kimberly Nguyen said:Alright... let me walk through this so I can wrap my head around it.

1) I made a purchase on October 2nd for $333 (well, wasn't really for me, just for some gaming stuff)
2) My statement says my bill is processed on the 25th of every month.
3) On October 15th, I get a notification saying I've spent $333 and that it'll be billed on October 25th.$33
4) On October 25th, I pay off $33, leaving a balance of 900
.
So, starting from what specific date does the interest start accruing on that $300?

October 25th over at Chase

October 2nd for American Airlines, Bank of America, and honestly, I haven't really kept track of how the rest of them handle it.

Mark Sullivan62 said:October 25th over at Chase

October 2nd for American Airlines, Bank of America, and honestly, I haven't really kept track of how the rest of them handle it.

So what exactly did I get wrong?😕

Kimberly Nguyen said:Good grief, you guys have completely scrambled all the terminology here...

The way I see it, it should work like this:
- Debit cards => The money leaves your account immediately; zero interest involved.
- Charge cards => You get billed later, but there’s still no interest applied.
- Revolving credit => You pay whatever amount you negotiated, but you're getting hit with interest starting from the very day the charge hits.

That’s how it ought to be, in my book... but hey, if it isn't, then it isn't.🤷

Then you're basically saying

Mark Sullivan62 said:it isn't 😁

at least when we're talking about Zelle or Maui or American Express cards, the interest kicks in on the due date, not the actual moment the transaction goes through.

Maybe I didn't phrase that quite right😍
"the day the charge is settled" => I meant the actual day they take the money out of my account—in this specific case, October 25th.

Kimberly Nguyen said:So what exactly did I get wrong?😕

Then you're basically saying

Maybe I didn't phrase that quite right😍
"the day the charge is settled" => I meant the actual day they take the money out of my account—in this specific case, October 25th.

Well, you definitely did, because I was thinking about when the charge actually hits the ledger—you know, when they start billing you—on your credit card statement; and let's not forget those people who still deal with physical mail issues or have problems with their cards, where by the time the bank finally sends out a replacement via USPS... it can easily take two or three weeks just to get everything sorted out.😁

To follow up on my previous post—I actually spoke with my mom’s boss at her company today, and she confirmed it's totally doable. A handful of people there—all five of them, actually—get paid via accounts that aren't standard checking accounts. So, I’m looking for some insight here—what are your experiences with how companies handle payroll? Any advice would be appreciated.

I honestly don't see any reason why you'd want your paycheck deposited directly into a standard savings account...

Kimberly Nguyen said:I honestly don't see any reason why you'd want your paycheck deposited directly into a standard savings account...

Look—I’m not interested in juggling a dozen different bills and cards when my current three cover everything I need—so my question is strictly about feasibility: IS THIS EVEN AN OPTION? I heard from one person at my mom's office that it works, so I'm looking for actual feedback. By the way—I don't use some old-school book; I just use a debit card for my savings and checking accounts and pull cash from ATMs without issue. I don't see any reason to deal with lines or "pensioner" vibes... unless I specifically want to invest something... that's it.

I’m still struggling to wrap my head around what actually sets a high-yield savings account apart from a standard checking account...

Hey everyone!
I've never owned a credit card before, so I could really use some advice since I'm pretty clueless about how this works.
I just want something for occasional online shopping and to use while traveling. I have zero interest in overdrafts or long-term debt.
I’ve heard Visa and Mastercard are both fine, but do the terms change depending on which bank you go with? Any specific banks you'd recommend?
Thanks a lot!🙂

George Barrett35 said:I’m still struggling to wrap my head around what actually sets a high-yield savings account apart from a standard checking account...

Look—checking accounts pay zero interest—that’s how a teller at Chase explained it to me—they exist purely for incoming cash like a paycheck or Social Security that you "withdraw and spend"—hence the name CHECKING—whereas a savings account actually accrues a bit of interest because the whole point is to park money you intend to save; then you have CDs, which is an entirely different beast altogether...

this is honestly hilarious

you’ve been agonizing over which account to pick for days just because of some ridiculous KTA nonsense?

I mean, seriously, how massive can these KTA amounts even be?

Look, just grab a standard checking account and dump whatever extra cash you have into a mutual fund or even a high-yield savings account,

and then everyone wins—including you.

Ryan Edwards said:Hey everyone!
I've never owned a credit card before, so I could really use some advice since I'm pretty clueless about how this works.
I just want something for occasional online shopping and to use while traveling. I have zero interest in overdrafts or long-term debt.
I’ve heard Visa and Mastercard are both fine, but do the terms change depending on which bank you go with? Any specific banks you'd recommend?
Thanks a lot!🙂

If you just need a Visa and a Mastercard, honestly, the easiest move is to grab them from the bank where you already get your paycheck deposited.

Gerald Morgan said:Look—checking accounts pay zero interest—that’s how a teller at Chase explained it to me—they exist purely for incoming cash like a paycheck or Social Security that you "withdraw and spend"—hence the name CHECKING—whereas a savings account actually accrues a bit of interest because the whole point is to park money you intend to save; then you have CDs, which is an entirely different beast altogether...

Alright, I get that part..
But if you can use a "savings account" for everything—receiving your salary, hitting the ATM for cash, all that—then what is the actual point of having a checking account? Why would anyone bother opening one?🤷
You might want to double-check that specific bank's policy regarding their savings accounts, just so you don't run into any headaches trying to direct your payroll into it later on.

By the way, I love your take on that "frozen" savings idea 🤣 🙏

Joe, thanks!
I get paid in cash, not through a bank. I'll head down to my local Chase branch to ask around about it. 🙂

George Barrett35 said:Alright, I get that part..
But if you can use a "savings account" for everything—receiving your salary, hitting the ATM for cash, all that—then what is the actual point of having a checking account? Why would anyone bother opening one?🤷
You might want to double-check that specific bank's policy regarding their savings accounts, just so you don't run into any headaches trying to direct your payroll into it later on.

By the way, I love your take on that "frozen" savings idea 🤣 🙏

I actually laughed at myself once I realized how ridiculous that was...😂

Regarding that specific account—I’ve had it since I was a kid, back when my grandparents and aunts would send cash for birthdays or Christmas—you know, those little "buy something nice for yourself" gifts. 😍 So, honestly, why bother opening a whole new account if I can just have my paycheck deposited there and call it a day? 🤷 😁 As for checking accounts—most people probably just opened them when they landed their first job out of default, assuming they didn't have anything else set up—but whatever. It isn't an issue for me to open a checking account if I absolutely have to... I'm just wondering if this specific option is even on the table.

Ryan Edwards said:Joe, thanks!
I get paid in cash, not through a bank. I'll head down to my local Chase branch to ask around about it. 🙂

In cash? 😕 You mean under the table? If you want to be "eligible" for a credit card, you're going to need to show some proof of income or have a decent balance in your account...

So, I just had some cash drop into my JPMorgan Chase checking account from a local job...

How do I actually get my hands on this money? Like, can I just walk into a branch—maybe if I have his ID on me?—or should I try an ATM (since the PIN is visible)? Or could I just call the bank and have them give me the PIN or something? I hope you guys get what I'm asking...

thanks bros...hh

Oh, please... you don't even need an ID or anything... just walk straight into Chase, tell them you're here to withdraw the cash from my brother's account... and while you're at it, grab everything from mine too, because I have zero interest in letting that money just sit there gathering dust.
And hey, if you're calling the bank anyway, maybe I can get you a ride back home while we're at it.

stormygardener83 said:So, I just had some cash drop into my JPMorgan Chase checking account from a local job...

How do I actually get my hands on this money? Like, can I just walk into a branch—maybe if I have his ID on me?—or should I try an ATM (since the PIN is visible)? Or could I just call the bank and have them give me the PIN or something? I hope you guys get what I'm asking...

thanks bros...hh

If you don't have power of attorney, you're out of luck.☕