Which bank is the best?

[chaska]

Okay, I've had it. Bank of America is history. Their fees are outrageous.

So which bank should I go with? I think there is a Washington Mutual in my area. Seems I've heard good things about them. Anybody have any comments about them?

Is anyone aware of any way to comparison shop online, something like a Consumer Reports type evaluation of the various banks?

[GOPisEvil]

1. Are you eligible for any credit unions?

Seriously, banks suck by comparison. Credit union eligibility is not as difficult as it used to be. You might want to look into that.

[SiobhanClancy]

2. That's bad news..

My bank(Fleet)is about to be absorbed by the Bank of America behemoth:(

[meegbear]

3. Me too ...

but there's a credit union in Lynn I'm joining in a couple months (I'm waiting for them to finish setting up online banking).

Check around Cambridge - I'm sure there's one there.

[terrya]

4. My bank is Bank One.

Their fees aren't TOO bad.

I'm just curious about something though. Another huge bank merger...Bank of America buying out FirstBoston (I think that's the name of it). For $40 billion, I think.

What the hell happened to the Sherman Anti-Trust act? If these mergers continue, there might only 2 or 3 huge bank holding companies owning all the banks in the United States. Sorry for being a bit off topic.

Terry

[rogerashton]

6. Banks were never regulated by the Sherman Act --

It may have applied to them (don't know) but more stringent Federal and State regulations made the antitrust act irrelevant.

Still is. Since the stronger regulations have been eliminated, we are going to see a banking system like the one in Canada -- just a handful of national banks, in most places. (Quebec, with its strong tradition of cooperative mutual banking, is an exception here.) But 5 big national banks would still be "competitive" according to Sherman Act standards.

[qb]

5. Credit Unions are definitely the way to go.

Big banks don't give a sh*t about individual account holders.

[mac56]

7. You may find it quite easy to join a credit union.

http://www.creditunion.coop/how_to_join.html

"Credit unions are for everyone, but the law places some limits on the people they may serve. A credit union's charter defines its 'field of membership,' which could be an employer, church, school, or community. Anyone working for an employer that sponsors a credit union, for example, is eligible to join that credit union."

"Poll your family. Does your spouse's employer sponsor a credit union? Most credit unions allow credit union members' families to join. Each credit union, however, may define 'family' differently. At some, only members of your immediate family are eligible. At other credit unions, family may include extended family members, such as cousins, uncles, and aunts."

We had a postal workers' credit union in Minnesota that opened itself up to everybody, postal worker or not.

[CO Liberal]

8. Any Bank That Gives Out Free Samples

:-)

[chaska]

9. If Bank of America is taking over your bank...

switch banks. They have a reputation for screwing up accounts. I never balance my checkbook; I can't say whether it's true or not. Also, Bank of America was the bank that sued when California outlawed atm fees. AND, their fee is $2.00 when you use another bank's atm - the highest I know of. That's just the tip of the iceberg. Plus they're a southern company, which means they are bound to be in the pocket of the GOP (greedy old pharts).

I'll check into the credit union thing. Is there a union for unemployed slugs?

[Bertha Venation]

10. Washington Mutual -- great bank.

Bank of America sucks toad livers and enjoys it. They SUCK.

Washington Mutual is pretty good. I banked w/ them back home. Unfortunately when I moved I closed my account, and the only thing they seem to do out here in the mid-Atlantic region is home loans.

[short bus president]

11. North Carolina State Employees' Credit Union!

Best. Bank. Ever.

[MissMillie]

12. Joining the chorus - credit union!!!! (n/t)

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