Switching bank account

2 Replies

I have one bank account, Wells Fargo. I want to switch to another. What banks do you recommend? Also, I’ve never done travel hacking but have been looking into it..what banks would give travel miles with a signing bonus? Thanks!

For a decade I worked for First Union, which later merged with Wachovia, and then they got swallowed by Wells. Wells has great coverage Nationally. If you are looking for a second bank, I would first go to Wells Fargo's website and check out their footprint. Look for a National bank that is in States that Wells isn't, but also has a presence in your home area in Seattle. That's one option, but personally, if I were to choose a second bank it would be a smaller, local, community bank that makes decisions locally. Some community banks will work with real estate investors, but most won't. You can go to the clerk of court's website in your county and, through their search feature, see what local bank is filing mortgages for real estate investors. That might be a great target to bank with if they are open to helping people like yourself. Unfortunately, I am in FL and I don't know the local Seattle banking market, so I can't really help you there. Good luck to you. 

I have closed most of my accounts with WF due to many daily problems with them. I was very happy with Wachovia, but since WF took over, it was issue after issue. I have been happy so far with Chase for most regular banking (personal and business). I also have accounts with a few credit unions (personal) and some local banks (business). In addition, I have checking linked to some brokerage accounts. Having many banks let me choose which one to use depending on the task. For instance the max limit with Zelle with Chase is way higher than with WF. Also there is no fee for ACH. Wire transfer, national or international have also different fee schedule depending on the bank. Also having different debit/credit cards is very useful when you have one declined for a reason or another (bank network down, or blocked for your purchasing pattern that trigger their security algorithm).