Saturday, July 2, 2011

Schwab Checking...

I opened up a new account Charles Schwab this past week. The reason I did it is because their checking account is really great. I have been moving around a lot the past couple years and every time I move I have to change banks because the big banks I have used each time are not big enough to still be in the next city I am in. So I went looking for an alternative to the traditional banking methods and the necessity of having a bank in your neighborhood.

My search led me to Charles Schwab with the help of Ramit Sethi. With the Charles Schwab checking account you can do nearly all things without ever going to the bank. And in addition to being very easy to use anywhere you are they have one incredible perk that I have not seen at any other bank: ATM reimbursements. Okay, some banks do ATM reimbursements, but I have never seen one that is unlimited. This means you can literally use any ATM and assume as many transaction fees as you want and at the end of the month you will be reimbursed for all the ATM fees. That's a huge benefit!

Other benefits include:
-Interest on your deposits
-No fees
-No minimums
-No-fee overdraft protection
-Free checks
-Deposit checks via pre-paid envelopes (no need to go into branch)
-An ATM card

And one of the coolest features they just released is mobile deposits. You just take a picture of the front and back of an endorsed check and put in the amount it is for and it will deposit it for you. The only issue I have found is you can only use the mobile depositing for checks less than $1000.00.

I have been very happy so far! They also have a really great customer service side based here in America with bankers that have answers (which has been my biggest frustration with Wells Fargo). I have been living a very nomad lifestyle, moving from city to city, so my application for an account was rejected because there is no proof I live in my current address. But the customer service side called me after I was rejected and took care of getting me all set up. What I really liked about this is that they called me, not the other way around. I don't have time to be sitting on hold trying to open an account and it seems they understand what the 'service' part of customer service really means.

Here is the link to get an account: Chuck Schwab You'll want the Bank Account Plus Brokerage option.

I have been happy with this service so far... it definitely makes a lot of things easier and has way more perks than I have seen with most banks. If you have any questions let me know and I will do my best to help!

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