Dave Ramsey Rant - Regional Banks vs. Mega Banks

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[@mamaneedsagrande]

Former Wells Fargo employee here and let me tell ya, everything Dave said and what the report found is true. Customers would ask me all the time why I didn't bank with them and I just smiled and said "conflict of interest." But trust me NO ONE in their right mind should have an account with them. As an employee you feel pressured in a way to get people to open accounts they don't need, mortgages included. It's a shame. That's our job, sell, sell, sell. Period!

[@mickyunit]

MamaNeedsAGrande they totally tried telling me I should take it a HELOC and pay off my mortgage with it. WHAT??? boneheads

[@DerwinDaDestroyer]

Your pic looks amazing MamaNeedsAGrande

[@Argon314]

I still have my account with them, but only because it's an old Wachovia account that got grandfathered in when they were absorbed. It's now an "Essential" checking account, and doesn't have any fees that I know of. Apparently, Wells Fargo doesn't know if it has any fees either, because I wasn't able to get an answer online, on my bank statement, from the banker at my branch, or from the help desk my banker called when she couldn't find me an answer. My answer is supposedly on its way in the mail. I may consider closing it if I still don't get a good answer, but I honestly don't want to as it was my very first bank account.

[@user-zu2il4rf5u]

MamaNeedsAGrande Hacking is very real cause I got $8500 into my bank with the help of Sachin bhatt and you can contacted him on IG @KINGZ_0689 / WHATSAPP [phone]

[@EricaWorshipsGod]

@@Argon314 I also got grandfathered into my essential checking account. i've had the same account for 21 years, back when it was First Union. personally, i don't have any fees except if you overdraft and things of that nature. but no monthly fees.

[@Siferatu]

The Wells Fargo fiasco wasn't about bonuses, it was about quotas. People committed crimes to avoid being fired, then they end up getting fired anyway when they've been found out. And of course management pocketed any and all bonuses.

[@shaldana]

I'm in banking. I worked for 'big banks' in Canada for decades and finally grew a conscience and was sick of the stress and moved to credit unions. I'll never put a toenail in to a big bank again.

[@TheGilbertsonfamily]

I was formerly employed by Wells Fargo. I left that job over ethical objections regarding my position. I am not at all surprised they were fined for their greed. So sketchy.

[@selinarocha1173]

GrizzlyAnders I use to work there too and had the same experience.

[@ggmu8549]

Same here, they would open accounts for anyone.. kids, elderlies, poor people.. The people who would not understand the rules and relegations on the accounts..

[@TheDCinSC]

My late mother worked for Wachovia right out of college, took time off when my brother and I were young, and then went back to work for South Carolina National Bank which later became Wachovia again through mergers. She loved Wachovia but when it merged with Wells-Fargo she retired. She said things changed after that and not in a good way.

[@kornygerm]

*is a bank of america customer* Dave: God help you if you are BOA" Me: well damm it.

[@dogloverjb6873]

oh dear...BOA..me too. 50 yrs+. I need to look into a credit union.

[@Inferno5150]

@@dogloverjb6873 Me too! And to add insult to injury I'm just now starting to see a little bit of hope in my life and then Dave announces "God help you if you are with BOA!"

[@paperremix]

Ugh... Same. They are my brick and mortar / I'm switching online

[@panzer_TZ]

Bank of America was where I got my first bank account, which I still have to this day. I'm part of Northrup grumman credit union thanks to a previous job. However, I've always had a good customer service experience and I like the convenience of having BoA branches and ATMs everywhere. BoA gets lots of hate, but I think it works fine for most people.

[@kierah16]

🤣 🤣 😂 😂

[@davidsullivan4940]

My wife was a Wells Fargo employee during this debacle and left because of the pressure to sell. One thing Dave missed here is that employees needed minimum sales to keep their jobs. I'm not defending what they did - fraudulent accounts - but the motivation wasn't primarily to fatten their paychecks; it was to keep their jobs.

[@JohnSebeny]

i like my credit union that i've had for 20yrs

[@step2191]

Best feeling of my life belonging to a local credit union!

[@MedoryK]

Dad got me started on our local credit union. Never left!

[@brentshuffler1234]

Thank you, Dave Ramsey, for highlighting the extremely valuable service and role of CREDIT-UNIONS in communities across the U.S.A. (and, may I add, across the world), helping people in rural areas, in under-served communities, and in building local communities. Some are huge; some are tiny; but they are all different from banks and other financial institutions in several areas e.g. structure, philosophy, values, mission, vision, shareholding (every customer is an owner), democratic practices, focus on service rather than profit, etc.

[@TheRamseyShow]

Thanks for watching! Don't forget to push that subscribe button to get the latest highlights from the show. kzbin.info

[@craigistheman101]

PNC does this as well! They had a stand at my school and I filled out a card for more information. A few months later I find out that they opened an account without my permission 😡

[@jas7869]

craigistheman101 I am so disappointed it must have something to do with all of those awesome free ATMs they offer though. I only use them for the free ATMs but I don't personally bank with them!

[@jgood005]

Wow and PNC is one of those smaller "regional" banks

[@debrawilliams7983]

craigistheman101 😠😠😠😠

[@jbboyle]

@@jgood005 PNC is a megabank.

[@swensation55]

I didn't know Dave even had an opinion about this. I bank with chase, but only having a checking and savings account with them and never had any issues with them.

[@electrology]

Regional banks aren’t any better sir..they simply are trying to emulate larger ones when it comes to marketing their products and services..how do i know? Because i work for one

[@jas7869]

Electro with all due respect, I know that you work for one BUT you don't work for every single one and I love my regional banks and they have never let me down which is way more than I can say for the mega ones!

[@jmedi5589]

My local credit union is always trying to push a credit card onto me every time I walk in there. Annoying.

[@krecikowi]

@@jas7869 And how regular customer should know which one is good one? LOCALLY? Should I move to different town/state just go get "good" local bank?

[@missyevitt8150]

From everything I read the employees were told to do it. And if they questioned the practice they were fired.

[@JohnDoe-gc1kt]

An article just came out about this.

[@g.b.macfuddson2143]

I have had an almost entirely opposite experience from the two credit unions and one small bank (Sentinel FCU, Minuteman FCU, and BankWestSD if that matters). All three were comprehensively unprofessional and unable to execute anything more than the most basic financial services without it being a histrionic mess on their part. Now, I absolutely agree that Wells Fargo and BoA are terrible choices, but neither was as grossly incompetent as any of the three local financial servicers I mentioned. I finally settled on Ally after moving around a bit have been completely impressed.

[@multimeter2859]

Currently playing both sides of the fence. Using Navy Federal for my local area and using Chase for the sweet military perks.

[@aaronesq]

I prefer a neighborhood credit union over a bank.

[@justinoiler9749]

Justin and Jessica

[@thedegenerate1styles471]

8 years ago I had a car note with Wells Fargo. They called me and said they would lower my payment from 365 to 260. Young/Dumb I go in and 2 hours later they come out with 295 payments... I leave go to a credit union and 20 min later my payment is 220. Wells calls and ask why I backed out and I told em they were $70 a month more then the credit union... What did they say?? That's a credit union sir it's different then a bank....Wtf

[@ashleykinney9425]

If you have any problem you contact only this gye called marat ..he will offer you all you want in harking

[@jas7869]

The only drawback to credit unions from what I have researched is how it is harder to join them than a regular bank but other than that I would say credit unions for loans are definitely the way to go any day!

[@annemouse6788]

+Jazzy J Credit unions should not be hard to join, there should be one or more in your city that just requires you to be a resident of the city when you join. If you are a member of certain professions, most of them have local credit unions... If you were ever a member of the police or in the military you should be able to join certain credit unions even if you aren't currently active in those organizations. Federal, state, county, city etc employee, most of the time you have one that you can join.

[@Preservestlandry]

@@jas7869 a lot of credit unions are "community charter," which means anyone who lives in the county can join.

[@paranormalentertainment7239]

Bank of America sucks. I was with them before listening to Dave. they charged me an over draft fee then when I went into the bank no one including the branch manager could find where I overdrew but still wouldnt refund the fee. I closed every account I had with them that day.

[@lovethemflowers]

That'll learn 'em Paranormal! If they were unable to find the transaction that caused the overdraft and still wouldn't refund the fee, they got what they deserved -- Buh-bye! They learned the hard way you weren't gonna put up with that. I'd have done the same thing.

[@jas7869]

Oh my gosh that isn't right at all it sounds criminal to me absolutely criminal!

[@no55ah]

You should've just driven to another boa down the road and asked them to remove it

[@livingaboard]

I've been with my credit union since 1988 and been pretty happy with them. I can't compare the service to a bank obviously. I know I have never paid any fees from them as far as account fees, online banking fees, etc . I have gotten several car loans and an rv loan and a couple house loans . I got the loans well before I heard of Dave.

[@yeahisaidit6184]

Navy Federal. Got them when I was in the Navy and have kept them forever. They’re everywhere but they’re also credit unions.

[@eks9225]

I’m with pnc and the customer service is great and very helpful. The apps are pretty good, not super high tech in 2020 but very useable

[@Tara_thatonegirl]

Dave’s advice has helped me for 13 years. I love using his ELPs too…

[@edd06001]

Megabanks are great if you have a lot of money in the bank. I have personally not had a horrible experience other than when I first started banking and didn't have a lot of money in my account. If you stay well above the account minimums, and build a long good standing reputation, they actually can give you some of the better deals, like cheap balance transfers, great customer rewards, competitive loan rates, and priority customer service. Plus when you travel, its nice to see a BOA ATM everywhere around the US to avoid fees, and Partnering International Banks that waive foreign exchange fees. My latest benefit with BOA is their partnership with Merrill, which has given me unlimited free stock trades.

[@MarkSmithhhh]

For sure

[@outdoorsnevada4138]

small town credit union. Has treated me great the past 22 years! They look out for you because there is more than just a business relationship. It is your family, neighbors up the street, etc. They also will take bigger chances on you because they know you and your character as opposed to just looking at $. When I was going through a divorce I had no $ and had all the debts to cover. I got a $2000 signature loan to cover food costs etc just to survive over 6-8 months.... They did it because I knew I would pay them no matter what my financial situation was at that time.

[@brendaspamperedkitchen9878]

Love my credit union 💖 Ditto Dave. For our family, Wells Fargo was sued regarding mortgages, and we were a recipient of their overcharging. Never again!!! We were under WF thumb for 25 years, and they came out way ahead.

[@KingDavidinPhoenix]

Hi Dave, you’re absolutely correct on your big bank assessment. I’ve been in banking now for almost 37 years (not bragging), and this is exactly what I have seen. I might add that regional banks, depending on who they are, can be every bit as bad as your large banks. I would probably stay with a small (or smaller) community bank. You’ll get the best service from one of those. I’m not familiar with credit unions, but those deserve consideration as well. I have found that the larger a bank is or becomes, the worse it is run!!

[@michaelwoods4495]

I need a financial institution with a national presence because of interests in a number of states. But I'm thinking of moving to USAA Bank or Navy Federal Credit Union.

[@TomasOBrien]

I’ve been a USAA customer since 2008. Every time I call them about anything I am greeted with top level service. The interest rate payouts are not that great, and the insurance products are more expensive than their competitors, but on balance, I’m a happy customer, if you do a lot of online banking, their website and smartphone app are very easy to use and sharp looking as well.

[@swn69]

I've banked with NFCU for 25 years and I have not ONE complaint. Not one. USAA is my insurance company and I have not ONE complaint with their service, either. I feel you cannot go wrong with either of them.

[@cattsmahal1005]

Dave: what banks you don’t bank with? Ooh I know! Banks that have big buildings! 😂🤣

[@echsfreshman]

DAVE RAMSEY IS THE GOAT

[@MattPryze]

Regional banks are so technologically behind from what I've experienced.

[@CrabCoreKing]

regions is nice

[@peachezprogramming]

To be fair, the employees alerted management about the shady doings and management pressured them into continuing. After more things progressed, management would tarnish the front line workers' record with a behind the scenes banking form so they couldn't get re-employed. It's management's fault, not the 5300 that were fired.

[@lovethemflowers]

Heads should have rolled at the top, too.

[@emailme6785]

Great video thanks Dave. We have Royal Commission into banking in Australia currently running & the 4 biggest banks have been exposed ripping off Farmers & doing dodgy deals to get people into debt that ruins their lives. Lots of other banks too, but not once have I heard a Credit Union being fined or exposed for corrupt practices.

[@ThraxMan84]

I've been with my credit union for 27 years. Started it when I was 21.

[@TeKnoVKNG23]

I use BB&T and they've been wonderful. Never had a bad experience with customer service, they aren't pushy, and they even offer a "Cash Back" program that works with your debit card at certain local business and some major chain stores. They also waive any ATM transaction fees. I have 3 accounts with them and they've been a joy to work/bank with.

[@gregcarlson8438]

When I was going to college (and before), I ended up working for 2 mega banks and 3 credit unions. All 5 of the financial institutions gave me a sales quota on financial products to sell and all 5 places gave me a commission when I do. Financial products means anything the bank or credit union offers: it could mean signing you up for online banking, direct deposit, getting you a checking or savings account, or a credit card or other type of loan. I didn't notice any difference other than the main decision maker of the credit union is usually upstairs.

[@mickyunit]

Greg Carlson now that you mention it, when I joined my local credit union they were very much trying to introduce me to their insurance products....hmmmm

[@gregcarlson8438]

mickyunit I am not surprised.

[@CallmeDaBreeze1971]

I switched from a large bank to my local credit union. The large bank made it difficult for me to close my account which took several weeks. I'm very happy with the credit union.

[@CommandoMaster]

THEY STILL KEEP YOUR FILE EVEN IF YOU CLOSE UR ACC!

[@MarkSmithhhh]

I switched to my local regional bank....my god what a difference in service

[@MTheChequeGuy]

Credit unions are the way to go. My credit union in northeastern Wisconsin has all the account features of the big banks, plus I get ATM fee refunds at the end of the month if I withdraw money and get charged.

[@mattbowdenuh]

Originally had Wells Fargo on my truck loan at 7.8%. When I tried to pay extra principal, it was a fight every month for the extra money to go towards the principal. After 3 months, I switched to a local credit union at 3.6%. Saved me so much money and a huge headache.

[@TheRosswise]

My town has two banks: a regional bank and CapitalOne. I was with the regional bank for years, left because of horrible service and went to CapitalOne. Been with CapitalOne for two years and couldn't be happier with the service. Go figure.

[@krecikowi]

Same here. ZERO issues with CapitalOne. Simply works.

[@paperremix]

Yeah, online banks are where it is at.

[@5150TomG]

Banks can't compete with Credit Unions. Banks have to pay CEOs, board members and ultimately stock holders. At a Credit Union you are not a customer. You are a member. You are essentially an owner. The Board Members are usually volunteers. 99 times out of 100 you are going to get a better deal at a Credit Union. Your deposits are insured just like the FDIC. I am a member of my Credit Union through my job. One of the most understated benefits I receive from the Company I work for is the Credit Union.

[@miketheyunggod2534]

Never take advice from someone who has an axe to grind. Anyone who is obviously bitter.

[@historyboy08]

One of my ancestors sold his stagecoach company (Overland Stage Lines) to Wells Fargo for $1.6 million in 1866 at the height of the construction of the Tranconstitnental Railroad. They were such chumps for investing in it because it was essentially worthless when everything was transported by rail.

[@CastilloTallaj]

i made this question in a video like 1-2 month ago feels good getting an answer. Thank you sir!!!!

[@katyedwards3935]

I like how he talks about himself in the third person instead of first person.

[@natalyv84]

Our small non-profit 501(c)(3) dumped Wells and BOA and went with a small bank and they are superb. Fees dropped from around $1,500 per month to about $250. My personal account is at BOA because they can handle big numbers much easier and without phone calls and emails.

[@mynameisnobody7840]

Banks have done more injury to the religion, morality, tranquillity, prosperity, & even wealth of the nation than they can have done or will do good. John Adams

[@JamesDean-nx2nq]

My grandfather did 4 tours in Vietnam, and because of that I have been lucky enough to bank with navy federal. I have had NOTHING but great experiences with them. I mean amazing service no crazy fees. Just the nicest kindest people.

[@angelamorris4304]

Was your Grandfather banking with Navy Federal, prior to you opening an account? Just curious, because my Husbands Dad served in Vietnam, too. USAA would not allow him to get an account, because his Dad never opened an account.

[@johnsantiago4810]

Navy Federal Credit Union is awesome!

[@Shimmoda]

I had a small credit union but they locked my account countless times for tiny things so I switched to chase it's much better but I don't have credit cards and declined for marketing stuff

[@joshthej3di681]

Same here and I switched to Wells Fagor but I got Navy Federal later on. Great Credit Union! I eventually closed my Wells Fargo account.

[@outdoorsnevada4138]

I just have usaa as a back up. Can transfer funds for free.

[@Keranu]

That's too bad, Chase has the best credit card rewards program bar none.

[@Mark-oc9gz]

Isaac Spencer same that’s exactly what I do lol

[@CalienteFrijoles]

I do business with Bank of America, never had to pay any overdraft fees. Pay my credit cards in full and I’m frugal so I don’t rack up a lot of charges anyhow. They actually offered a lower interest rate that anyone else when buying my car. My checking account is also with Bank of America and sometimes I get cash back for doing my average purchases. They work well for me and I’ve never had a customer service issue because I haven’t had to ask the question of why do I have a fee on my account. It just hasn’t come up because literally I stay within a healthy parameter to avoid the fees. Now if another institution offered lower interest, or anything better than Bank of America I’m not dumb I’d switch to save money. So far it’s been good. That must be my own unique experience but I thought I’d share anyhow that it all really boils down to how you manage your money.

[@debramurphy4295]

Bank of America can be bad. I was with them for awhile take over of my bank. Glad when they left. Had to have separate accounts just in two county's. Went to another county and asked which account I could use to write a check.

[@gnosis7662]

I've done business with large banks and never paid them a dime. I have free checking, free savings and credit card accounts that I pay off every month and got hundreds of dollars in points each year. I've been doing this for over 25 years. I'm debt free. One point you're not making about the advantage of working with big banks is that you can find ATMs all over the world that don't charge extra fees! Good luck finding an ATM for your small local banks when you travel!

[@MrT1-b5f]

that's the reason i bank with Wells. ATM's everywhere! also any fraudulent/suspicous activities are handled promptly.

[@LuisSanchez-xc9ih]

Exactly, he’s only point is that you’re only a number, and? As long as they don’t steal my money I don’t care if they don’t know me

[@AslansMane88]

Remember when GMC CEOs tanked the company, then golden parachuted? No different here: bank management are in a position to cover their assets.

[@Clarence_Stinson]

I'm going to do banking with a credit union.

[@Monarch816]

As an asset manager, I think it is funny people are always complaining about how low the interest rates are at banks. Of course, they always compare these large banks that offer like 0.05%. The company I work for gives us a list of the top 250 highest % interest rate banks in the world. There are 7 banks that offer 5%/APY. All of them are small banks. There are 40 that offer 3.0-4.5% interest rate and the rest are 3% and lower. Small banks have and always will have more competitive rates than these large no care for you banks.

[@jjwade003]

PrimePerception what bank is this?

[@storminmormin14]

Even when I listened to Dave Ramsey on the radio I envisioned him looking exactly like he does.

[@erikgonzalez2278]

I only have a mega bank for a checking account only because they are national and I don't deal with their customer service or even a teller I try to do everything on the app, Direct deposit or the atm I've had no problem with them for over 8 years. My car, savings, retirement is with a credit union.

[@locomoco2012]

TRUE TRUE TRUE TRUE TRUE TRUE. Everything he said is true.

[@chanj2109]

I took my money out of wells fargo as soon as this story broke!

[@joshuas.169]

Chan J 19th century: Wells Fargo gets robbed. 21st century: Wells Fargo robs Wells Fargo customers. Not banking with Wells Fargo: Priceless.

[@CommandoMaster]

Only downside is it takes forever to get your cash out of a bank. They ask you questions and make it such a big ordeal. IT"S YOUR FREAKING MONEY!

[@annemouse6788]

You realize that the govt requires them to ask those questions (at least some of them) and to report on your activities.

[@shanescrimshire8395]

As a family, we had multiple accounts with wfb. Collectively, we paid thousands in creative "fees". Left two years ago and never going back.

[@JoseChavez-ob2wj]

All banks are doing the same, because employees are expected to open accounts and sell their products instead of giving good customer service.

[@zachallen8653]

Just had a HORRIBLE experience with Chase. Thanks to faulty information they provided, my federal and state tax refunds as well as stimulus check went into the incorrect account. When I brought to their attention, they tried to turn it around and make it MY responsibility and get it resolved with the IRS! Finally got this fixed this past week and within the next month, I will be going to a new bank, and will look for a small bank, or a regional. Listen to Dave and don’t make this mistake I made!

[@jas7869]

Dave this is your best video yet!!!!!! I absolutely agree with you what a scary yet interesting and informative story you shared!

[@davidbrighina2118]

Thanks for this video Dave - from a community banker!

[@pontiachotshot]

Been using 5/3rd for 15 years and they treat me great ! No problems ever and they are willing to help me anytime i need it.

[@DeRothschild]

if you're in Texas, Frost bank is the best choice. Randolph Brooks FCU is the best credit union... every interaction with these two institutions is a confirmation they're extremely well run.

[@WookieSenshi]

I have GTE Financial. A Credit Union based in Florida. Great place to be!

[@TheJman16165]

I have a BOA, Wells, and a Credit Union. I love all three. I havent had trouble with BOA except their outrageous overdraft and maintenence fees. The Credit Union gives you more chances for loans, mortgages, etc.

[@jgood005]

Credit unions aren't perfect. I filled out an "anonymous" survey where I mentioned mortgages. I got a call the very next day from a "manager" asking me to come in to discuss their mortgage offerings. I promptly closed the account and am still with my mega-bank for now. I like online banks like Ally though for the high rates. Maybe it's an age thing, but I have virtually zero need to ever walk inside a bank. I'm not a bored retiree who needs to chat up the bank teller. I don't care if I'm a number to them, I should be. We're not friends. It's a business transaction and as long as my money is FDIC ensured, accessible, and earns a high rate I'm happy.

[@jdb2002]

TCF is still pretty much a regional bank, with a lot of their locations in the north midwest area. But they're starting to expand, with locations as far south as Colorado and Arizona.

[@maryyellen]

I use Chase, and I went in with my change to cash it in. The bank teller handed me paper rolls and told me to roll them up myself. I also wanted to deposit a check and they stared at me and said "did you try using the ATM?" Uh, no I'm the only person in line. They wouldn't deposit it for me. Time to find a new bank.

[@meganmawhinney3966]

The rolled coin request is common. If its more than a rollers worth it needs to be rolled. But the check deposit remark...now that's terrible service.

[@mickyunit]

maryyellen they were probably "busy" with some sort of social media😒😒😒

[@Righhhhhtttt]

maryyellen I use to be a lead teller, and rolling a large amount of coin for a customer was something we didn't do either. It's really time consuming and if we were to get busy we would have to leave the coin out unattended, and that creates loss exposure. A lot of banks do not roll coin anymore even smaller banks.

[@reverendblkgrape1]

Go to the nearest Coinstar machine and you can pour your change in and get a gift card for stores such as Amazon, yadayada.

[@HALLIWEL07]

RoscoeBrah which one ??

[@MrJordib14]

Dave, WF employees would not get promoted unless you made your quarterly sales. You could have been the best banker for customers but if you did not reach your goals you would be stuck after hours in "selling training" as if you were in detention and in the same position for years.

[@greenearthblueskies8556]

“There’s 5,300 crooks looking for jobs 👀 “. 🤣

[@drakechief7]

I've been with Wells Fargo for 10 years and have never had an issue. I usually just use the ATM. Every time I go inside they try to shove credit cards down my throat and my accounts have fees which I never pay because I meet the requirements, but I've gone 10 years without losing money so I don't see any reason to switch.

[@makdaddy8399]

Bad on me. With B of A for over 30 years. They are horrible in every way. The only reason I don't leave is I have so many direct deposits/withdrawls......I am working on changing banks sooner or laters...

[@acegears]

I understand that they don't care but is there much of a different between local banks vs. regional banks vs. mega banks. If so, please someone tell me why against them? What are the specific difference in services, etc.?

[@kierah16]

What Dave's missing is that the reason that the employees did this was in just trying to keep their job. Wells Fargo was known for aggressively pushing sales quota. But he gets the general idea of their ethics. Also they no longer push quota.

[@frederickjonesel1942]

This is funny because "Chase" gave me my first major credit card....The Chase Freedom Unlimited. Lol, lol.

[@Scorpiomaj27889]

The reasons are simple, low rates, easy to get approved, apps for my phone..... my local bank charged me twice as much interest for a car loan. The local Parkvale is a pain in the butt.

[@jhov7748]

Just curious about your feelings with banks such as USAA & Navy Federal. These banks are both national banks that cater to military members, veteran & their families.

[@hannahhensley8497]

also curious about USAA

[@scoutmasterdave1428]

Based on Dave's previous rants, he says to stay clear of insurance companies who do banking. Love USAA and its service with my auto insurance, but don't bank with them.

[@scoutmasterdave1428]

Navy Federal is a Federal Credit Union and falls within Dave's good list. USAA is primarily an insurance company, so be leery of insurance companies who offer banking products. I have auto insurance through them, but don't do any banking with them.

[@jhov7748]

That makes sense. I currently bank with them and love them but would like to not have all of my eggs in one basket.

[@jhov7748]

Thank you for your input ScoutmasterDave​. I really appreciate the help you all provide me.

[@PantherGeek7]

I bank with BB&T, which is quite large, but not as big as Wells Fargo or Bank of America. I've been pretty happy with them - they seem like a no-nonsense bank without outrageous fees.

[@Manoucherie27]

Leadership never get blamed. Management always keep their job and will probably get a bonus. All wells Fargo needs to say publicly or better yet threat the government is that they will close all banks and our government will bail them out. Cause with 260k employees out of work won't be good for this new administration. Instead there will be back doors dealing and Wells Fargo will not pay that fine. Publicly it will be different story to avoid the mass chaos

[@hopesands2381]

This is why I hate sales in general. It's all about how much you sell (commission) instead of are you actually giving people what they need? That's one of the reasons I quit selling insurance. In all, I hate sales. It's too easy to be pushed into selling stuff that people don't need.

[@workingshlub8861]

always go with local credit union..mine is great they know my habits and are quick if they see anything weird. i put a set of tires on my debit card and i got a call next day making sure it was really me buying... they know i am a saver and a cheapskate lol

[@HungNguyen-se8dn]

We use both national bank and regional credit union. Like them both.

[@kevinconley4764]

Thoughts on TD bank? large bank, but I have had nothing but awesome experiences with them.

[@BaltazarGarcia]

CEO was fired, several executives (even those that had already left the firm) had some of their compensation clawback(ed) around $180 million.

[@nicolejennings8389]

Just depends on where you are going. If you are going to stay in your state, you don't need a large bank in interstate areas or international ones. Just get good service from a nice place. Small is great.

[@numanuma20]

Sadly, I don’t use a credit union but I do use two mega banks. I won’t name the banks, but one doesn’t charge me for not having enough money in it and that is what got me to join.

[@ednapuckett1042]

Lower level managers many at the grocery store locations. They did it to keep their jobs because of quotas set for the branch. I didn’t work for WF. A coworker’s husband did and his extended family had multiple accounts to help him meet his quotas.

[@aquarius9491]

Wells Fargo got away without firing management because management created this thing called a scape goat which were the employees, Dah !!!

[@jakepatchogue9478]

Ally Bank. Their interest works in your best interest, literally. Get 2% interest on any and all Savings balance tiers.

[@Amy-wh9dz]

Jake Armerstads Yesss! Great bank. Awesome customer service.

[@---cr8nw]

I opened an Ally account in June at 2.2% APY. In less than 6 months, it has dropped FIVE times. Now it's 1.7% APY. I feel deceived. What kind of bank doesn't offer a rate guarantee of six months or one year? One that PLANS on jacking up your rates.

[@jillleturgey1001]

Ally is the worst. Don't get a car loan from them. They are satan in bank form.

[@---cr8nw]

@Eric Jacobs, I understand that. But banks don't follow interest rates directly. They have a spread between the rate that they borrow money at (as either a loan from other banks or the Fed or in the form of savings accounts) and the rate that they lend money at (in the form of credit cards, loans, mortgages, etc. It's not a small spread. The SHOULD offer a rate guarantee of at least six months so that this garbage doesn't happen. I opened and account and within 7 months, the APY dropped .6% It makes me think that they were deceitful in offering the 2.2% APY interest rate to open the account. They had no intention of honoring that rate.

[@bradwilliams4921]

From my personal experiences I can confidently say the big corporate culture can corrupt and cause strange behavior in people. But, to this point I have gotten excellent service from Bank of America despite how little money I have. The personnel at the local branch are friendly and helpful and service I have received from the 1-800 numbers has been spot on. To this point I am pleased.

[@MACNTOSFAM]

i would agree to a certain extent. business reps, travelers, international entrepreuners have easier access to funds in major banks unlike your down-the-street bank

[@Mrswag-ki4bs]

OMG totally agree. big banks are awful, bad experience with Bank of America! only credit for me now on

[@tycobb2580]

bank with a institution that doesn't charge you fees

[@financiallyfreewithkirab2513]

Great video, I enjoyed filming my video about credit union vs banks!

[@jblyon2]

I had Bank of America in college because they had the ATM on campus. To be fair it was a regional bank when the account was opened, then bought by BofA** a short time later. After graduation they wanted almost $18/month just for the privilege of dealing with their terrible customer service and worse business practices. I went to a local credit union and 11 years later I have never paid a cent in fees. The customer service is incredible, and they have an excellent HSA option (the national bank work uses by default charges nearly $200/year in fees and pays NO interest!).

[@droptozro]

Before you say so(I paused the video), I'm going with LOCAL banks!