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Old 13-10-2014, 07:54   #31
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Re: Recommendations for a Bank

Something else to think about. Some banks charge a percent to exchange currency. Sometimes as high as 1%. Mine (Schwab) does not and gives a good exchange rate. That is important too because some banks hide the charge in the exchange rate. Not important if you do not stay outside the states a long time or go far.
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Old 15-10-2014, 20:11   #32
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Re: Recommendations for a Bank

I bank with Capital One with an online bank account. The banking works well and the service, by phone, is excellent. The credit card works all over the world, including Cuba, with no foreign transaction fees, I understand. You have to phone them and tell them what countries you're going to be using the card in. I haven't used that service yet.

They're very parochial. They will not accept foreign checks nor transfers from foreign banks for deposit.
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Old 16-10-2014, 00:09   #33
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Chase has a history of establishing credit limits then lowering them, to charge a higher interest rate.! B of A has shady mortgage practices, to say the least.! One bank took a pay check on Friday and bounced a Check on the following Tuesday, stating that the bounce occurred in the A.M. and the Deposit wasn't accredited until the P.M. A combination of Navy Federal Credit Union and USAA seems to be the best choice...
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Old 16-10-2014, 03:40   #34
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Re: Recommendations for a Bank

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Originally Posted by Seymore View Post
I bank with Capital One with an online bank account. The banking works well and the service, by phone, is excellent. The credit card works all over the world, including Cuba, with no foreign transaction fees, I understand. You have to phone them and tell them what countries you're going to be using the card in. I haven't used that service yet.

They're very parochial. They will not accept foreign checks nor transfers from foreign banks for deposit.
I use Capital one as well, their services do not stand out above any other bank but there are NO foreign transaction fees. You do have to notify them every time you change countries or the card will not work. This can be done from your account page online, much easier than trying to phone them.
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Old 16-10-2014, 05:14   #35
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Re: Recommendations for a Bank

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USAA THEY ARE ALWAYS ON THE WATCH FOR FRAUD ON YOUR ACCOUNT AND FREE ATM FEES UP TO $15 PER MONTH.
Very true in the fraud watch. I just got a new debit card and already got a notification they're going to send a new card due to suspected fraud. This may have happened once before.
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Old 03-11-2014, 21:03   #36
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Re: Recommendations for a Bank

There's an old saying in finance: you want the best bank for your savings, and the worst bank for your loan.

Don't confuse the asset (loan) and liability (deposits, savings) of each bank they are very different. Bank if America is a good example. It's excellent on security, online especially. They also pay the lowest yields usually on deposits.

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Old 04-11-2014, 05:44   #37
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Re: Recommendations for a Bank

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We also use a Capital One credit card while cruising for the same reason - waived Foreign Transaction fees.
Is there an annual fee for that card? The ones I've seen that don't have foreign transaction fees have an annual fee, but of course if traveling that fee would in the end be less than the transaction fees.

I would to find a no foreign transaction fee rewards back card
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Old 04-11-2014, 07:00   #38
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Re: Recommendations for a Bank

I've been out of the States 20 years now and have used USAA for banking,insurance and investments.Have also used the ATM card in some far flung places with never a problem.
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Old 04-11-2014, 10:17   #39
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Re: Recommendations for a Bank

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I don't understand at all why to use anyone to hold cash. If you need them to do something requiring cash you can always do a wire transfer to their account and if you have more time an ACH. I don't trust any CPA or law firm that much. There have been too many situations from theft to bankruptcy. Partners get into disagreements. And any agency I need to give them I can grant in 5 minutes via fax. My lawyer and CPA have certain very specific and limited rights of agency related to routine filings. And for the record, I trust mine a great deal. But I might remind that a lot of people trusted Arthur Anderson and have trusted many law firms. A lot of very smart people trusted Bernie Madoff as well.
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I actually act as an agent for a woman living as an expat in the Carribean. And even though anything I hold in escro is backed by my insurance, and my word, I still wouldn't hold any cash. There is just no need, and the limitations on escro accounts mean that I can't pay any interest on the funds.

However there are limitations on phone and fax authorizations. So what we have done is submitted ahead of time a full power of attorney that allows me to do anything up to closing the account for cash. But conditioned it so that they need voice authorization (with a password) for any amount above $10,000. This gives maximum flexability while retaining my ability to deal with the unexpected or emergencies for her.
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