How to find a new local bank?

[DharmaDog]

We just moved from Texas to Raleigh, North Carolina and we need to find a new bank because our Texas regional bank does not have branches here.

I need a free checking account and am open to credit unions as well.

I feel that some of the comparison sites I've come across are not giving me the whole story and may just be shills for the big banks. I do not want BofA or similar large banks. Am open to local/regional banks.

Thanks

[cbelt3]

I'd ask your new neighbors. Word of mouth is the best form.

[Chakravartin]

When I wanted to find a new local bank with free checking I used Google.

Banks near [zip code]

(Without the brackets.)

It gave me a simple list with links to the banks' web sites and a "more results" link to a Google Maps page that showed their locations.

From there, it was pretty easy to eliminate the big national and regional banks via name-recognition and to poke through the sites for the remaining couple of banks to see which one(s) had free checking and were conveniently located.

[nwyaker]

Credit union that is connected to nationwide CU network - works for me in WA and when visiting CA.

http://www.cuswirl.com/Home/p/295627/Default.aspx

[bazookaman]

I'm a member of 2 or 3 credit unions. I'd never go back to a real bank.

Oh and congrats on the move. At least coming from Texas, you should be used to our temps this week.

[lost in space]

Like nwyaker said, local CU that's connected nationwide. Our local teachers' CU has been trouble-free for us for almost 20 years. Used to be you had to be a teacher state employee or whatever for credit union memberships, but that requirement has been dropped.

What I like about ours:
email messages when we use our CCs out of state, asking if they're legit charges
local person answers the phone when we call
free checking
competitive rates
they don't sell your mortgage
we've used ATMs in Canada and south Mexico with no probs

[Robert M]

Dharma,

Bankrate.com is your best bet.

I've had accounts at local bank and at big banks. While I like local banks - I've accounts with them over the years - I have to give credit where credit is due and say that bigger banks like Chase and Bank of America have done right by me. I know you said you won't consider one of them but there are good reasons to keep them on your list even if you don't like them. Locations and features.

Consider... I just closed an account with a New York area bank for several reasons. The bank was good for a while but found they didn't have enough locations and ATMs, weren't willing to waive fees when waiving of the fee was justified. I've gotten charged only a few times over the years. One due to a goof on my part which I paid and the rest due to their goofs. The bank also lacked many of the online features offered by bigger competitors. In the end, I found it wasn't worth keeping a checking account with them anymore, even one for the sole purpose of maintaining a safety deposit box.

While I had that account, I also had an account with Bank of America. The other bank couldn't compete on any level with Bank of America. They've taken great care of me. They've waived the few fees I've gotten over the years even when it was due to my error. In those cases, I didn't ask them to waive the fee when I called or visited a location about it. The bank rep offered and I said "Thank you". They offer a good number of accounts geared towards different people and needs. Easy enough to avoid fees, too. Excellent online features from bill payment to viewing deposits and statements and such. Lots of locations, everywhere! Very useful, especially if you travel.

i also have an account at TD Bank. While it's a secondary account that I don't use much, TD has still taken great care of me. If nothing else, I've yet to find a bank that can touch their hours of operation. That alone is reason to consider them. They've also have nice online features (similar to BoA) and lots of ATMs and branches makes them worthwhile, too. A slew of different checking accounts, geared towards different individuals and levels of need. Easy enough to get free checking. My wife and I are considering making the TD account our primary account and keeping the BoA account as secondary, primarily because of their hours and more convenient location.

But, there is something to be said for a good local bank. Like I said, the local one I used for a long time was good. They just didn't offer enough to justify staying with them in comparison to the big boys.

Robert

[Yoyodyne ArtWorks]

bazookaman wrote:
I'm a member of 2 or 3 credit unions. I'd never go back to a real bank.

+1000

[DharmaDog]

Thanks for the tips. I have had a BofA account before, and like you they did OK by me, but I have a problem with big banks due to their role in the current economic catastrophe. I just can't feel good about doing business with them.

On the other hand, my current regional bank has made serious errors with sizable transactions. The did fix them, but not fast enough in my opinion.

So, I'm leaning to a credit union at the moment.

[DRR]

See if there's a regional or city board at city-data.com. Very helpful forums there.