ZZZ, Can I still get in on this Northern? Like to switch from Ally over to Northern. Thanks!
And according to their website, they are planning on keeping their rate competitive…I just opened with them…it’s a rather interesting setup and different then conventional accounts…I like what i am seeing so far… 
My favorite features are: you can transfer up to $250,000 per day in or out…Although it’s called a Savings Account, you don’t have the “6 per month limit” The 1 million FDIC Insurance Coverage (because they sweep the money into 4 fdic banks)…and plan on adding debit cards, checks, bill
pay, mobile check deposits in the near future…And the high rate of course…LOL
Up to 3 external bank accounts can be linked to it…They are actually a brokerage firm…not a bank…
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FNBO Direct lowered their online savings account from 2.25% APY to 2.20% APY.
(new eOne Savings customers with some exceptions) - Salem Five Direct boosts eOne Savings Rate to 2.51% APY. $100 minimum opening; $1 million max.
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Words of warnings regarding CIT Bank.
As previously stated, CIT Bank has a history of inventing new liquid savings products that are identical except in name to existing products, so that they can attract new customers with a higher rate without paying it to existing ones (unless they call in to complain).
Now comes a new tactic I’ve just experienced with them. If you have a Savings Builder account that has been inactive for some time (i.e. not meeting the threshold for the 2.45% APY interest rate), then there is a penalty of up to one full month when do you make deposits to meet the threshold for 2.45% APY, during which time you earn about 1%, not the advertised rate. Update: After some back and forth via chat, they finally agreed to pay the advertised rate on the funds from date of deposit, and that has been posted. I should also note that they also make an exception the first month an account is opened.
Edit: Also, they’ve lowered their interest rate to 2.40 % APY. Wiki updated.
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Just a quick comment with Navy Federal. If they come out with a great deal on one of their “special certificates” keep in mind their rules state a max of 100K TOTAL across ALL their special certificates. Very Frustrating.
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Vio Bank raised its high yield online savings account to 2.52% APY, $100 minimum deposit to open.
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Folks,
I recently had to sever my relationship with Wells Fargo due to repeated issues with them and am looking for a “local bank” to simplify depositing checks, getting things notarized etc…I already have several internet banks via recommendations from this thread and the cd thread but I’ve got the sell of a house coming up in my future and Ally would require me to mail in the check. Do you have any recommendations with low to no fee’s that you’ve had a good relationship with? I’m in the southeast part of the USA if that helps.
Not sure where you are but I’ve always found PNC to be easy to deal with and if you have a relationship account, most fees are waived.
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Issues with Wells Fargo? Imagine that.
I’ve found Charles Schwab to be the best of both worlds. Excellent Internet bank and I’m fortunate to have a Charles Schwab office locally - does that apply to you perchance? If so, they do not accept deposits directly to checking, but will accept them to a brokerage account and then immediately transfer to checking.
If I was looking for a local financial institution to establish a relationship with, I’d be checking out good credit unions. They’re good at that.
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Thank you for your reply. I’m not familiar with that bank but there are several local so I will look into it.
A credit union would be ideal but the selection locally is sadly very limited. I already have 3 different brokerage accounts but will check into Charles Schwab as well…their robo-advisor had my attention from recent articles already.
Here are a few that I have used in the SE (mostly for bank account bonuses):
Regions
Hancock Whitney
Capital One
Chase
Of the two regional banks above, I would say Regions is better than HW. I didn’t have any issues with HW but they seem a bit less tech savvy and sometimes require a visit to the branch. Regions has been good. I opened personal and business accounts with Regions in the past 1-2 years. No issues.
If you don’t have any of those nearby, I might have other ideas. Would have to check my files on other banks I have used.
I also recommend credit unions as someone else mentioned. However, I only know of one based in the SE. Keesler FCU. I opened an account there to prep for a CD offer. Not much experience with them yet.
you can deposit directly to Schwab checking by submitting photos of the front and back of a check using their mobile app.
Yes, and their limits are very high (might depend on the account holder and the age of he account). But probably not going to accommodate a check for the sale of a house, which was the scenario mentioned.
Also you can get a bonus when you open with PNC!
Sorry to hear of the WF woes. I only use them for DD and then move the money elsewhere. They also don’t charge me for a small safety deposit box.
Here’s my recent experience with other B&M banks in the south:
Chase: staff were well trained and helpful; website is worse now than 10 years ago, but it’s prettier; nice bonuses available
TD (Toronto Dominion): very friendly, but I got the feeling they were by the book only with no wiggle room, and I’m not sure how capable they are.
Regions: friendly and capable, but IIRC, they were fee happy.
First Citizen’s: quite accommodating, but I did not like the security, or lack thereof, of their online banking.
Good luck.
Thanks to everyone that replied in my quest for a local bank! I’ll be investigating several of the recommendations.
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Allamerica/redneck Mega Money Market® personal checking account
June 21st, 2019 the interest rate for this account will be 2.40% APY
sorry if this is old news