US Banks - Which One?

[Torquemonster]

I'd like to find a decent Bank that has good online services and low overall fees.

I hate paying lots of transaction fees and high mthly charges - it's a rip-off. Can anyone recommend good banks that have good services yet are very cheap?

Thanks
TM

[Venom 1000TT]

I switched to Wachovia. Online services, no fees. Great service. I think I have their crown banking account which also earns interest on your checking. Good luck in your search!

[KWIK96]

My advise is to go offshore.
US banks are 20 years behind the rest of the world.
They are like third world credit unions.
If you took say Wells Fargo or Bank of America, just to name two, to Europe or Asia, they would go broke.
Problem is that Joe Average puts up with it, because he has never had anything else.
I have been through several and in the end I gave up on them. When it takes weeks for them to process a cheque, then you know they are taking the piss. You can have 1000 now and 5000 in a week and the balance in two weeks, come on!
You may also be interested to know that even a Regional Manager cannot grant you a $300 credit card (if you don't believe me try it, it's true) their hands are tied, as the credit agencies have the final say who gets a credit card, not the bank.
US banks charge about $40-50 to send money to Europe, but it cost’s $3-4 to send it the other way.
They are totally driven on an ever increasing profit at the expense of customer service.
The tail is wagging the dog.
Try Isle of Man, or Switzerland. These banks (UBS, Credit Suisse, Barkley’s, Bank of Scotland, etc have offices here. Once you try these services you will never come back.

I will come back when the banking industry is deregulated, and there is true competition from foreign banks, which is not likely anytime soon, as the banks like it just fine how it is.

[Yves]

Agree, US banks are about 20 years behind.
Shortly after arriving in the US about 6 years ago, my company opened an account with BoA for me.
I was shoked with the low quality of service and high fees.
The excessive use of checks is another thing I never came to grip with. Overheads on processing these suckers must be excessive.

Anyway, after about 1 year on the ground somebody pointed me to First Tech Credit Union. They are the bank of companies such as Intel and Amazon. Giving my business to them was like stepping from stone age into the 21st century.
They are on par with some of the best European banks.
http://www.1sttech.com/

Since I remember you only recently moved to the US, I'd urge you not to bring all your money along. This is the ideal moment to 'redirect' some of it to tax free havens (provided you have some excess money you do not need).
US IRS is too nosy and has no business with money you have earned in the past and already been taxed on.
Drop me a PM in case you want more info.

[Torquemonster]

thanks guys - that was really helpful

Wachovia is a short walk up the road - might be great for day to day needs.

UBS could also be a good option - I was invited to become a financial advisor with them (I'd applied but later decided to go in another direction)... they do seem like a well developed and aggreesive organization re challenging the status quo here - plus they are huge with over $3 TRILLION in assets.

Yves - I'll check out that link - never heard of them but that sounds interesting too.