Ask HN: What Internet based checking account do you recommend?

#1

Post by waltbosz » Mon, Aug 17, 2020, 3:44 PM UTC

I'm shopping for a new checking account. My only requirements are:

* Website with good UX and handy features like CSV exports * I'd like to avoid ATM fees * Accepts direct deposits - I imagine all banks do this * Support outbound ACH transfers * A US based call center - or at least a well trained offshore call center * Paper checks

Not a factor * I do not have to worry about maintaining a minimum balance * I'd rather better service than a good interest rate on my deposits

Red Flags? While shopping around, are there any red flag anti-features that I should try to avoid?

Are there any specific banks that I should avoid?

Final note: I've done a bit of reading on sites like Nerd Wallet and Bankrate. But their reviews don't really provide the knowledge that I am looking for.

I'm looking for testimonials from actual customers. I am not looking for blog content written for the purpose of generating affiliate link revenue.

Re: Ask HN: What Internet based checking account do you recommend?

#2

Post by chadash » Mon, Aug 17, 2020, 6:18 PM UTC

I use Ally and i'm pretty happy. Don't know if it checks off the CSV exports but I believe it has all the others.

The big thing that I like are alerts for charges over a certain amount. A few years back, I was using TD Bank and I happened to check my online account one day and noticed an $1800 withdrawal that I didn't make (I got lucky, because I don't check the account that often). I called them up and they said it was a mistake, but wouldn't explain how or why it happened. Well... no thanks... given that you pay me close to 0% interest anyway, I'll give someone else the privilege of holding my money. Since then, I maintain a minimal deposit at TD because I like having a bank with physical locations and moved the rest to Ally. Ally is nice, because anytime I have a transaction over $100 (which is an amount you can customize), I get a text message, so any funny transactions are noticeable right away (not that there have been any). This feature is a must-have for me now.

Re: Ask HN: What Internet based checking account do you recommend?

#3

Post by waltbosz » Mon, Aug 17, 2020, 6:37 PM UTC

I apologize for the strange formatting. I'm new to HN posts, I thought I added enough new-lines.

I'll try again, since I can't edit the original post.

=====

I'm shopping for a new checking account.

My only requirements are

* Website with good UX and handy features like CSV exports

* I'd like to avoid ATM fees

* Accepts direct deposits - I imagine all banks do this

* Support outbound ACH transfers

* A US based call center - or at least a well trained offshore call center

* Paper checks

Not a factor

* I do not have to worry about maintaining a minimum balance

* I'd rather better service than a good interest rate on my deposits

Red Flags?

While shopping around, are there any red flag anti-features that I should try to avoid?

Are there any specific banks that I should avoid?

Final note

I've done a bit of reading on sites like Nerd Wallet and Bankrate. But their reviews don't really provide the knowledge that I am looking for.

I'm looking for testimonials from actual customers. I am not looking for blog content written for the purpose of generating affiliate link revenue.

Re: Ask HN: What Internet based checking account do you recommend?

#4

Post by d33lio » Mon, Aug 17, 2020, 7:57 PM UTC

Schwab 1000%, care about the bank, their customer service and fees. Technical features should not be deciding factors in where you keep your $$$.

I believe schwab might still let you request physical security tokens.

Re: Ask HN: What Internet based checking account do you recommend?

#5

Post by mpc75 » Mon, Aug 17, 2020, 11:27 PM UTC

USAA if you can get it. I’d check out BBVA they’re onto some real cool stuff in the future of fin. For fintechs, I’d check out Revolut.

Re: Ask HN: What Internet based checking account do you recommend?

#6

Post by wprapido » Tue, Aug 18, 2020, 9:00 AM UTC

Well, I'm European, so not sure if it helps, but might help someone else. TransferWise is what I'd highly recommend. They do have US presence. I'm just not sure which features are available to US customers. They got excellent customer service via mail, chat, social media and phone. Not outsourced to India

Re: Ask HN: What Internet based checking account do you recommend?

#7

Post by baccredited » Tue, Aug 18, 2020, 11:46 AM UTC

>Are there any specific banks that I should avoid?

I like to avoid all of the bailout banks. These guys invested customer money irresponsibly and had to be rescued by the federal government: https://money.cnn.com/news/specials/storysupplement/bankbail...

I ended up using schwab.com and have been happy with them so far. (Until recently I was with etrade, but they were bought out by Morgan Stanley.)

Re: Ask HN: What Internet based checking account do you recommend?

#8

Post by fosco » Tue, Aug 18, 2020, 6:28 PM UTC

d33lio wrote: post #4

Schwab 1000%, care about the bank, their customer service and fees. Technical features should not be deciding factors in where you keep your $$$. I believe schwab might still let you request physical security tokens.

+1 Schwab

-I've had great customer service experience compared to competitors

-also refunds ATM fees at end of month.

Re: Ask HN: What Internet based checking account do you recommend?

#9

Post by sangli » Wed, Aug 19, 2020, 3:54 AM UTC

chadash wrote: post #2

I use Ally and i'm pretty happy. Don't know if it checks off the CSV exports but I believe it has all the others. The big thing that I like are alerts for charges over a certain amount. A few years back, I was using TD Bank and I happened to check my online account one day and noticed an $1800 withdrawal that I didn't make (I got lucky, because I don't check the account that often). I called them up and they said it…

I second ally. I have an account since 2016. They used to refund all the atm fees charged, not sure they still do it.