In you opinion, where should I bank?I recently moved to Sacramento from Bellingham, WA. The way I bank is so: Usually nothing in my savings account, just depositing into checking and spending via debit card. I banked at WECU (Whatcom Educational Credit Union), and here's what I liked about them: -Minimum $5 balance in you savings... | |
Definitely check out credit unions. The big banks are planning to drop free checking, and the reason is that changes in the banking laws no longer allow them to make huge profits on overdraft fees etc. The bank that announced first was BofA, so they're out.
If you're not going to keep money in a savings account, don't open one. But you should save. Living paycheck to paycheck is seriously bad for your financial health. Admit it - it's stressful.
Go with a credit union that should charge you a lot less than Bank of America, and just my opinion do not open a checking account just open a savings account with no minimum amount and with something in interest maybe 1.00% for the mean time while you settle and try to find a job or a second solution. Then after accumulating some 500 then you open a checkings acc. Western Valley Credit Union in Sacramento and Big Valley Federal Credit Union, or CAHP Credit Union go in their websites and check their rates. I hope this comment serves you.
All banks have two sets of rules or agreements. One set they use to get you into their system. Then the second set of rules changes everything on the first set of rules. It may be best to talk to people who already have accounts at various institutions to see what't happening with them. Are they happy?
Banks are moving away from free checking and free of anything else. They are in the business to make as much money as possible for the CEO and share/stock holders. Bank customers are at the bottom of the heap.
Credit Union's fees are always lower than banks.
Go with the CU; B of A will rip you off.
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