Acknowledge that it would depend on individual circumstances, but just looking for a best overall or general preference from the Mustachian perspective without going into my own specifics.
You want details without giving your own:) specifics.
I have and actively use several banks and credit unions each for a different reason/purpose. Don't really care if they are on someone else's top list or not.
I like Capital One because their debit card does not charge a foreign exchange fee and they have good customer service. Solid, easy to navigate site. Plenty of free ATMs in my area although I never use them. It is certainly not worth it to me to switch to Ally because of an extra 0.35%. They have an ongoing referral bonus like ING had - always a nice extra.
I have also found that sometimes they are the best way to transfer money between accounts and like someone mentioned it is easy to set up several different savings accounts for various goals.
If you decide on them I'd be happy to give you my referral link - you will get $25 and so will I. Always a nice extra:)
My local CU has 1% checking and a 2% savings which is nice. I don't like that they take forever to transfer monies via linked accounts which I find annoying.
Love paypal and have had them forever for all the usual reasons. I'm looking into their 5% interest card to park some emergency money.
I used to be a mystery shopper which often entailed applying for a new account in person and evaluating their service - which gave me a great opportunity to compare different banks and their offerings. It was quite the eye opener when I realized how worthwhile it is to do your research and read the fine print.
These days every bank has online services and it is a cinch to look at their accounts, interests and bennies online before applying for an account. It doesn't really signify that much anymore whether they have a brick and mortar presence or not.
My current favorite is First Tennessee Bank mainly because they have a $250 bonus offer for a new account and their customer service is great. No fees if you make one monthly deposit. No minimum balance or min requirement on the deposit either, that is rare. Their debit card offers points too and since they only have one location in Florida on the other side of the state - it is in essence an e-bank for me.
My criteria range from having a checking account with no minimum balance requirement, to a savings account with decent rates, to definitely no fees of any kind for anything, to no foreign exchange fees, the occasional good CD deal and 24/7 customer service. Of course it is always nice to find extras like reduced rates on deposit boxes or a free account for military or free or reduced insurance.
One of my banks - Regions, gives you an end of year 1% bonus if you save at least $1000 during the year. Not much, but hey:)Since I do not know of one e-bank or local bank that offers everything I want, I basically use one bank for savings, another for normal transactions, two when I travel, one for my internet activities/website ........
Ultimately I draw the line at five accounts plus paypal and capital one,which works for me. I'd say a true Mustachian probably does their homework and makes changes as needed to take advantage of any deals or at the very least protect themselves from paying fees.
