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Thread: Banking for Full Timers

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    Banking for Full Timers

    Hello,

    We are going full-time in a year or less and I would like to know what are the best options as far as banking is concerned. I have a local credit union now and I don't want to have to come home every time I need something. They are very small.

    I was thinking of going with Chase but would like some input from others.
    Ed & Kaitlin
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    Paid my dues 😁 FT4NOW's Avatar
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    We've used USAA for years and they don't even have branches for the most part, i think a few across the country. You can deposit checks online, get loans online and they will work with the dealer on getting them payment for the loan, refund you ATM fees, and great customer service.

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    Site Sponsor Richter's Avatar
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    We have accounts with a couple of mid-sized banks. I never go to the branch, even though it’s local. Both have online deposit available (photo of the check with your phone), easy online funds transfers between accounts at the banks (we have a couple of accounts at each, for accounting purposes) and online checking account payment systems. Most of the payments go electronic, between the bank and the person/company being paid. Those that are not set up that way receive a check that is written by the bank and mailed out, no charge.
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    I will second USAA, you can't beat their customer service. If you don't qualify for membership almost any descent size bank should work as long as you are willing to embrace the online or customer call center. If you are the type of person who insists on looking the teller in the eye to deposit a check then Chase or even Bank of America (who sucks) will be your best bet.
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    Quote Originally Posted by EddieK82 View Post
    Hello,

    We are going full-time in a year or less and I would like to know what are the best options as far as banking is concerned. I have a local credit union now and I don't want to have to come home every time I need something. They are very small.

    I was thinking of going with Chase but would like some input from others.
    You might find that your local CU also has agreements with CU's around the country. Ours does and from time to time we use them. Our main CU office is about 200 miles from us and we go to a local affiliate when/if necessary.

    We also have accounts with Bank of America and TD Bank. If we ever get to go to Canada again the TD banks there, while not really affiliated with the US TD bank, are friendly and helpful.

    BofA seems to everywhere. Wells Fargo seems popular too.

    But.... the only "banking" we do when traveling is an ATM sometimes for cash. Everything else, bills, transferring funds from one bank to another, etc., is all don't electronically via smartphone (I think cellular is safer than WiFi). All out accounts are set to draft automatically from one bank, credit card, or another.
    Larry
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    Site Team D2Reid's Avatar
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    First off welcome to the lifestyle. We started out with our local FL bank, and they did pretty good. But it soon dawned on us that we needed a more national presence, so went with Chase. They have done a good job for us. One of the big deals was getting our credit card number stolen, about once a year for nearly 5 years. Knock on wood, it hasn't happened since the chip thing came out, I can't explain it. We never got hassled by Chase, told them what we bought, what we didn't, end of story. Paid for what we actually purchased. We became frequent flyers, I even have the Chase Fraud Department on speed dial on my phone. Inconvenient for sure, but never really a problem.

    We did run into a problem with a bank in Florida, an investment matured, time to re-invest. Chose the bank and the program they were promoting. Walked in, all good, except they needed to verify our physical address, we don't have one, well, except the our domicile mail service address, but it's not a physical address. It all had to do with new TSA homeland security best banking practices where the major banks are tasked with ensuring investors have a physical US address. After going around a bit the bank manager says to my face: "I am sorry, but we will not be able to do business with you. ". Ok, we aren't doing business with them.

    Several months later found an investment opportunity offered by a small credit union in Utah. Walked in, set up an account, deposited money. They had a little issue with our address but worked around it by saying we had an Apt # versus a Personal Mail Box Number.

    All that to say, establish an account while you are still in your sticks and bricks. USAA, Bank of America (I have an account there), Citibank (I have an account there), Chase ( I have 4 accounts there), Third Federal (these are old accounts, we have a love hate relationship with them, terrible service), once the accounts are established you can change the mailing address pretty easilly, particularly for the online banking stuff.

    We don't get a lot of income from checks, but when we can't use online methods the Chase check deposit function works really well.

    Get it established before you start full timing. When you no longer have a physical address it will more difficult, not impossible, just more difficult.
    Dallas
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    Site Team Second Chance's Avatar
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    Like @FT4NOW, I've been with USAA for going on 40 years - 5-1/2 of them full-time now. Everything is direct deposit and BillPay. They even refund ATM fees no matter who's ATM you use.

    Rob
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    Site Sponsor Steven@147's Avatar
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    Similar to everyone else, except we have an Escapee's address, although we seldom visit Livingston. It is a permanent address but we are not physically there. The wife and I kept our different individual bank accounts at two separate banks. The Wife's is a nation wide popular bank and mine is a local home town bank that I haven't visited since last August. If one account is compromised we disable it and still have the other until we get it straightened out or a new card issued, hasn't happened yet.
    Our social security goes to our individual banks. We can electronically transfer money between banks free of charge although the amount is limited per day, and the Wife can photo copy checks for deposit in her bank account. We normally don't use ATMs but we could, if we need some cash we get money back at retail stores like Walmart, Kroger, HEB, Meijer, Tractor Supply and several others using our debit cards when we are shopping, without a fee.

    All our banking Soc Security, IRA distributions, Taxes and refunds, Covid stimulus checks, insurance vehicle and health, auto bill pay, vehicle registration license plate renewals, Dr's Office online portal, credit card payments and so forth are all done secure online, communications with these entities is via e-mail, text or iphone calls. The wife has a visa, I have a Mastercard. We use credit cards for things like fuel and RV Park site rentals, never our debit cards. All our online entity contacts are fine with our situation and address.

    Escapee's forwards our USPS mail whenever we request it to where ever we are. We can have our USPS mail scanned and e-mailed to us if its important like notification of jury duty. Usually there isn't much USPS mail because everything is online, they screen out all the junk mail. If we buy anything like from Amazon we have it shipped to the RV park we are at.
    Last edited by [email protected]; 03-19-2021 at 08:26 PM.
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    Thanks for the info.

    I've had my cc info stolen before. The company sends a new card right away. My wife has had her debit card info stolen 3 times. She doesn't use her dc very much since that. The bank can setup your account so that if your dc is stolen, the thief will only get a little bit, verse all of your money.

    I used to be a cash only person. Now; a credit card almost always. I play the points game and get kickback money. Amazon and Chase for now.

    Safe banking, KEN
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    Site Sponsor Sportsdad60's Avatar
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    We use BECU who also refunds the ATM charges, has an online app, and we bill pay everything that we must through our account however we try to charge out Cabela's CC for everything so we can earn the points. Then pay the balance at the end of the month.

    Anyone can join BECU if you live in the state of Washington. (It is not limited to Boeing Employees or retirees) If you move, like we did, you're still members. Just letting our fellow WA staters still living there know that they have some of the best money market account interests in the country.
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