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Best Internet Bank?

P

persia

newbie
Joined
Nov 18, 2007
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Location
Carlingford, NSW
I want to cut ties with Wells Fargo and their fees and noticed there's a lot of internet banks that seem to offer a lot more than B&M banks. Anyone deal with them? Just looking for the basic savings/bill pay/debit card services that Wells Fargo is now providing for me.

I've been looking at USAA (my father was in the US Military) and Ally. Any opinions?
 
ING is what I have been using for a few years now. They just were bought by Capital One so now they also have a CC arm.
 
I have been with Capital One for money market and checking for some time now (maybe 3+ years?). I have been very happy with their services and responsiveness. Now having all of our credit cards with them too, makes for a great full service banking relationship.
 
I have been looking into Ally Bank. Does anyone have experience with them?

Kurt
 
Sandy VDH said:
ING is what I have been using for a few years now. They just were bought by Capital One so now they also have a CC arm.
Click to expand...

LOVE ING (INGDirect.com). The ability to do Person to Person pmts free or to have them send a check, free, has been very convenient. It is also very nice to be able to link to my other accounts for easy money transfer (again, free).

Their bill pay is the same as my credit union uses, but CU will charge me at least 50 cents to send money from there to ING, while ING lets me do it free.

I am an old NetStockDirect customer, that became Sharebuilder years ago (discount brokerage), then got bought by ING. IMO, it just keeps getting better and better.

I have checking, savings, non-retirement stock portfolio and some of my retirement accounts with them. Beware that the stocks/mfs/etfs available are not the entire universe. Enough of the universe, however.

They offer promos all the time and I got a free trade credit for my birthday. I opened a Roth a few years back and got 1200 free trade credits to use in a year.
 
I use both Charles Schwab and ING and love them both. Charles Schwab is our primary account and has no monthly fee, free checks, and excellent customer service. They also refund any ATM fees you may incur, and since they have no ATM machines you just use any ATM, anywhere. Deposits are made using the mail (free prestamped deposit envelopes) or using their app.

I signed up for ING because of their bonuses and the slightly higher rate offered on their money market account (lol, I think it's .8%). I haven't really used them for checking although I have a checking account with them. I like the fact the I can link that account with accounts at other financial institutions.
 
OK, small bias here but I've been a USAA member for 30+ years...not even a question where to go.

I will give you a cautionary note...you sure you wish to migrate to an internet only bank? Even after all these years of membership, I still maintain a Credit Union account just so I have a place I can walk into and cash or deposit a check. Don't get me wrong, I would probably abandon the CU if there was a local branch of the USAA bank but it just doesn't exist out here.

That said, a local Credit Union would probably serve you well. But if you are choosing, USAA is the way to go. Insurance too! The service is super.
 
Another vote for ING, but still have a CU account. Like ING smartphone app, easy to deposit checks by picture and fast.
 
Rob&Carol Q said:
OK, small bias here but I've been a USAA member for 30+ years...not even a question where to go.

I will give you a cautionary note...you sure you wish to migrate to an internet only bank? Even after all these years of membership, I still maintain a Credit Union account just so I have a place I can walk into and cash or deposit a check. Don't get me wrong, I would probably abandon the CU if there was a local branch of the USAA bank but it just doesn't exist out here.

That said, a local Credit Union would probably serve you well. But if you are choosing, USAA is the way to go. Insurance too! The service is super.
Click to expand...

Speaking from personal experience, I do like having a local bank to fall back on in a pinch (usually the need for a certified check). We kept our credit union account open, plus opened a Chase account a couple of years ago for a mileage promotion. I am very surprised with Chase. They have been really great to work with and I have no fees if I do 6 card transactions in a month. (I use the Chase account for our timeshares).
 
I also keep a local bricks n mortar cu. It's closer than the nearest ING ATM plus humans to perform free notary, sit down with in case I need a loan / transfer a loan, etc.

Because my cu has electronic deposit minimums, I have some bills on autopilot from that account, trailing my autopilot deposits from ING.
 
I've been using Ally for at least three years now. It is easy to use, and if you need "live help" it is there telephone 24/7 and I've never waited more than two minutes. You can use *any* ATM in the US, unlike most of the others. If there is a fee from the ATM, you get the fee paid back to you at the end of the month.

I use the bill paying as well, and it works very well. I've never had a missed payment or one go wrong. They notify me when the payments are sent, and also when they are cashed.

I keep a brick and mortar bank nearby for cashing the small, nuisance checks I sometimes get, but that really isn't necessary. I can also transfer money from ALLY to my B&M bank or the other way around really easy.

Ally also has "perks" with its debit cards, where you get $5. off on $50. at different businesses every month. Some of them are online, some B&M. have seen Nordstrom.com, Body Shop, Lowe's, Walgreens, and more.

All of that said, (and this is directed to the OP), if you qualify for USAA, it appears to be as good as Ally.

Fern
 
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