Over the past several years, I have held my checking account dollars at Umpqua Bank and Tri Counties Bank. At one point, the interest rate was up to 3.5% on the first 25k held in your account. Up until recently, Umpqua Bank was offering 1.5% on the first 25k. Today, I noticed that the interest rate was reduced to 0.50%.
It's barely worth the 15 POS transactions per month (made by 15 small dollar amount online bill pays to a monthly bill) at that percentage.
I'm located in Northern California, and am now looking for a new bank again.
I have direct deposit, all my bills are setup on auto bill pay, and I use my credit card for most purchases, paying it in full afterwards. I usually keep between 10-20k in liquid assets. Meaning I want the money in my checking account, or a savings account that I can access almost instantly. I have very few checks that need to be deposited, so I would be okay if the bank was not local, or if it was a little difficult to deposit checks / delay until funds were available.
I am located in the Northern California area. Live and work in and around Sacramento, and travel frequently for work to Bakersfield, Pittsburg, and Salinas.
What are you guys using for your checking account? Any suggestions?
Obviously, I'm going to stay at Umpqua Bank unless I can find something better. It's just time to reevaluate and see if there is something better again.