davis_square | (no subject)

Hello all,

I've looked through the "banking" tag and don't see anything that specifically addresses this, so I'll go ahead and ask: I'm currently with Wainwirght and I like a lot of things about them, but I depend upon a lot of online features that they just don't have, which unfortunately has me considering changing banks. I'd consider switching to a bank that had all of the following:

Free billpay that consistently deducts money when the check is cut, not when it is cashed

Online statements going back indefinitely (or at least more than a month or two)

No charge for transferring between multiple checking accounts

A decent online banking interface

A branch and ATM somewhere within 5ish miles of the Davis/Porter sq area

Wainwright meets, at least arguably, the last three requirements, but not the first two as far as I've been able to tell.
Does anyone know a bank that meets all these criteria and that they've been happy with in terms of customer service and all that? One that still has the progressive hippie-fu of wainwright would be nice, if such exists.

Flat | Top-Level Comments Only

I've been using VirtualBank (http://www.virtualbank.com) for about 5 years now, and been quite happy with them.

They have free billpay (though I can't vouch for the timing of deductions; you'll have to check on that), YEARS of online statements downloadable in many formats, and decent customer service.

They don't have any ATMs near here (I think there's one downtown somewhere), but since they reimburse ATM fees, it doesn't matter; you can use anyone's ATM.

The one big drawback is that you can't deposit via ATM. You have to use direct deposit or mail in your deposits to their HQ in Florida.

I've been considering an online bank like Ing but hadn't heard about virtualbank. I'll look into them as well. Thanks.

For a good compromise between online banking and local banking, you might try our local online bank, SalemFiveDirect (http://www.salemfivedirect.com). I've been using them for about six months now. They're sort of my "ATM account" so I haven't used the bill pay much, but it does work the way you want it to. You get about 3-3.5% interest on your balance, can make deposits at local ATMs (SUM network (http://www.sum-atm.com) & NYCE network (http://www.nyce.net/atm/locator.jsp)) or by mail, get $15 in ATM fees refunded every month, and a one-time $25 bonus for setting up direct deposit. Plus, if for some reason you really need a branch with humans, there's one downtown. The only big drawback is that they don't have a EFT / ACH system for making transfers between banks online. But you can make those transfers using the ACH facility of the other bank you're transferring the cash to/from. Well, that and they don't seem to offer any referral bonus like ING does. ;-)

Also, check out bankdeals.blogspot.com (http://bankdeals.blogspot.com) for all sorts of reviews and information on banks w/ good deals, some of which are online, nationwide, or local to NE (They recently featured Brookline Bank (http://www.brooklinebank.com), where I do most of my bill pay. I only don't recommend BB b/c you get crap interest, and until recently needed $5k minimum deposit every day of the month to avoid fees.)

You might want to consider a Credit Union, too. Their online banking is usually less sophisticated, but they're also less likely to try and screw you over/generate horror stories.