Banking… how things have changed

[two_bit_score]

I can't even imagine what would happen pulling out cash to buy a home in 2023...

Yep, jail time, probably.

 

[grsthegreat]

Nonsence. I purchase lots of stuff for cash. Never have had any issues. I have a clean paper trail including multiple inheritance and 30+ years in business. i claim every cent that goes thru my business, even cash. But i rarely get cash sales any more for quite a long time. Most every customer pays with CC so they can claim points.

 

[5030]

I avoid all commercial banks like the plague. I only bank at the local shareholder owned Credit Union and I am a shareholder.

 

[jyoutz]

I avoid all commercial banks like the plague. I only bank at the local shareholder owned Credit Union and I am a shareholder.

I have a checking account and debit card with BOA for some payroll deposit and pass-trough spending. Mostly because of nationwide ATMs when I travel. But most of my financial business is with our local credit union. Loan rates are lower and deposit rates are higher than banks. And dealing with the credit union is a dream. They are friendly and easier to deal with for most any transactions including auto loans with much less process. I really don’t see the advantage of primarily doing business with banks anymore.

 

[ultrarunner]

I've never said this about any financial institution but I love my current credit union of the last 20+ years for all of the same reasons.

I still have a legacy B of A checking opened in 1948 for mostly sentimental reasons but everyone that knew me is long gone.

At the credit union not many do know me but the service is first rate.

My pet peeve with Banks is every few months they roll out pages of new disclosures and are always changing account parameters, etc.

The credit union basically limits notices to what the current rates are.

I miss the lobby board every bank and savings and loan provided listing current rates... and also why did all the wall clocks disappear from commercial banks?

 

[WM75Guy]

We have used BOA for well over 30 years and are very satisfied. We also use Merrill Lynch for investments, so it is easy to move money back and forth. The closet branch is 40 miles away in Tyler so we haven't set foot in a bank in years, everything is done online or with the app. We also have accts at a small local bank for farm and horse expenses. BOA makes it easy to transfer money between banks. So far this year we have received over $2,000 in rewards and due to our rewards tier we pay no fees.

 

[ultrarunner]

I did enjoy similar when Bank of America acquired Charles Schwab until the time they parted ways.

 

[5030]

Have not used an ATM for years and no debit card either.

 

[ultrarunner]

Yep… never once used an ATM and never had a loan except first mortgage…

Have grandparents and a dad making the Depression real made me debt adverse at a very young age.

 

[YanmarFever]

ATM ? never used one, and a credit card for emergency use...

I sleep real good at night.

 

[Jstpssng]

I live 20 miles from the closest bank and 45 miles from my CU. A normal day may bring me 100 miles or farther from home, and I am not normally around towns during normal banking hours. I prefer to use cash rather than plastic, so my ATM card at the bank is invaluable.

 

[buckeyefarmer]

I can’t imagine why anyone would want to do business with B of A.

Me neither... They were the scum of the banking industry as long as I can remember.

 

[Oaktree]

I only bank at the local shareholder owned Credit Union and I am a shareholder.

I looked into a credit union once, didn't see any real advantages over a bank.

 

[LittleBill21]

Me neither... They were the scum of the banking industry as long as I can remember.

they have the best cash back credit card rewards program there is. if its all you need not much to go wrong there.

 

[Hay Dude]

Nonsence. I purchase lots of stuff for cash. Never have had any issues. I have a clean paper trail including multiple inheritance and 30+ years in business. i claim every cent that goes thru my business, even cash. But i rarely get cash sales any more for quite a long time. Most every customer pays with CC so they can claim points.

Go to a bank and deposit or withdraw over $10,000.
You’ll see bank tellers start scrambling around looking for managers, phone calls being made, ID’s requested and generally nervous, suspicious behavior.
Last time I deposited just $700, I was interviewed by some creature from corporate on a video screen demanding to scan my photo driver’s license and my social security number.

 

[masseyrider]

Similar in Kanukistan. If you want to withdraw more than $3k cash you have to make an appointment 3 days before.
I used to take in checks from our fruit co-op, and deposit so much and take cash for bills etc. Sometimes if it was more than what the teller had you'd have to wait 10-15 minutes for them to get the cash out of the vault. Biggest concern a teller had once was for me to be careful as the$12k I took was a lot of money. I had put it in my top denim shirt pocket.
When I deposited a 7 digit check ( about 23 years ago) the only thing that happened was I noticed the teller's top button was undone when she came back from the manager's office. BOSOM!

 

[WM75Guy]

Go to a bank and deposit or withdraw over $10,000.
You’ll see bank tellers start scrambling around looking for managers, phone calls being made, ID’s requested and generally nervous, suspicious behavior.
Last time I deposited just $700, I was interviewed by some creature from corporate on a video screen demanding to scan my photo driver’s license and my social security number.

Time to change banks. I use the BOA phone app to deposit checks. I recently deposited a $61,000 check. I use the phone to take 2 pictures of the check, front & back, enter the amount, select the acct to deposit the funds into, and hit submit. Funds were available the next day.

 

[ultrarunner]

Me neither... They were the scum of the banking industry as long as I can remember.

They gave me my checking account at age 13 with no adult co-signer…

Just call me loyal or nostalgic and why I still have the one checking account….

 

[Hay Dude]

Time to change banks. I use the BOA phone app to deposit checks. I recently deposited a $61,000 check. I use the phone to take 2 pictures of the check, front & back, enter the amount, select the acct to deposit the funds into, and hit submit. Funds were available the next day.

Depositing checks? Who doesn’t do that? I’ve got 2 businesses and have used bank by phone apps for 5 years. lol
I’m talking about depositing & withdrawing large sums of cash
Totally different from depositing large checks.

 

[Sprinkler Fitter]

I have a checking account and debit card with BOA for some payroll deposit and pass-trough spending. Mostly because of nationwide ATMs when I travel. But most of my financial business is with our local credit union. Loan rates are lower and deposit rates are higher than banks. And dealing with the credit union is a dream. They are friendly and easier to deal with for most any transactions including auto loans with much less process. I really don’t see the advantage of primarily doing business with banks anymore.

I've never said this about any financial institution but I love my current credit union of the last 20+ years for all of the same reasons.

I still have a legacy B of A checking opened in 1948 for mostly sentimental reasons but everyone that knew me is long gone.

At the credit union not many do know me but the service is first rate.

My pet peeve with Banks is every few months they roll out pages of new disclosures and are always changing account parameters, etc.

The credit union basically limits notices to what the current rates are.

I miss the lobby board every bank and savings and loan provided listing current rates... and also why did all the wall clocks disappear from commercial banks?

Go to a bank and deposit or withdraw over $10,000.
You’ll see bank tellers start scrambling around looking for managers, phone calls being made, ID’s requested and generally nervous, suspicious behavior.
Last time I deposited just $700, I was interviewed by some creature from corporate on a video screen demanding to scan my photo driver’s license and my social security number.

We have been at the same bank my wife has had a savings and checking at for 50 years now. It is a Bremer bank now, don’t have a clue how big Bremer is but all the workers are local people that we see all the time, never have a problem there, w deposit cash there once a week and once a year we bring a jar of change in to get cash and we have a safe deposit box there.