US Bank vs Bank of America

ArrestMeRedZ28 · 08-19-2007, 06:49 PM

So as part of my quest to become independent from my parents, I'm opening up my own checking account sometime next week. At age 16, when I got my first paycheck from my part time job I opened up a account at Premier Bank (link) with my father. Now he's got access to my internet banking and can transfer money out whenever he feels like it. So I want to switch banks, and get my own account.

I'm 19 now, a student and a server at a restraunt. I make $300-400 week and I take 14 credit hours. My bank account varries but I'm pretty financially responsible and never let it get below $500.

I'm pretty sure I'm going to either do US Bank or Bank of America.

Bank of America

U.S. Bank

I need a free checking account, with a ATM/Debit card basically. Any suggustions? I believe my mom uses US Bank so I'm almost thinking use Bank of America because I think they have more locations nationwide and my money wouldn't be under the same roof as hers.

6SpeedTA95 · 08-19-2007, 06:55 PM

BoA?

ArrestMeRedZ28 · 08-19-2007, 07:07 PM

Originally Posted by 6SpeedTA95

BoA?

ftw? what do you suggest for a car loan? I'm debating selling my SS for something I can drive other day. I've been considering a ~02 WRX. I can spend $8k and keep out of debt (after selling my car, and registering the new one) Going to look at a '00 Silverado tomorrow.

Ardentfrost · 08-19-2007, 10:11 PM

ArrestMeRedZ28 · 08-22-2007, 11:14 AM

Originally Posted by Ardentfrost

Ing

I have an ING Savings.

I'm going Capital Federal.

Question, should I keep my old account open or empty it and cancel it? There is no minimum balance requirement nor any fees. And my dad can still transfer money into it for me if needed. It'd be nice to have a spare account/credit card if for some reason one morning I'm sitting at the gas pump with an empty tank and it won't take my card.

My new account @ Cap Fed won't have a minimum either (student account)

hsmith · 08-22-2007, 11:43 AM

Originally Posted by ArrestMeRedZ28

ftw? what do you suggest for a car loan? I'm debating selling my SS for something I can drive other day. I've been considering a ~02 WRX. I can spend $8k and keep out of debt (after selling my car, and registering the new one) Going to look at a '00 Silverado tomorrow.

see what interest rate you get with a loan, i won't spend all your cash on a car if you can get a good rate...

WickedLou9 · 08-22-2007, 01:06 PM

I use BoA but not for any good reason.

I originally opened a savings account when I was like 14 at "Pioneer Financial" up in Mass. pioneer got bought out by Bay Bank and I was with them for a while. Then Bay bank merged with Bank of Boston and became Bank Boston. Then Bank Boston got bought out by BoA so...like I said. No good reason.

I don't have any complaints though. I mean thier savings account is worthless at like 0.25% but I use ING for that sort of thing.

They do have branches everywhere so that's conveinent for me. And I like thier online bill pay. It's fast and easy, but I imagine that most are just as much so these days.
I don't have any complaints. They do what I need them to do.

DosEquis · 08-22-2007, 01:28 PM

I would use the one who has the most ATM's around where you live. Less ATM's means bigger pain in the ass or more fee's to use foreign ATM's.

If you can get a reasonable interest rate on a car loan i'd stash your money away and just make some payments. If you had to in a pinch you could use some of your 8k to make a payment.

ArrestMeRedZ28 · 08-22-2007, 03:14 PM

Originally Posted by hsmith

see what interest rate you get with a loan, i won't spend all your cash on a car if you can get a good rate...

Hoping for 8%... No point in paying interest if you don't have to. (Co-sign)

Originally Posted by DosEquis

I would use the one who has the most ATM's around where you live. Less ATM's means bigger pain in the ass or more fee's to use foreign ATM's.

If you can get a reasonable interest rate on a car loan i'd stash your money away and just make some payments. If you had to in a pinch you could use some of your 8k to make a payment.

Yeah I'm debatting between Johnson County Credit Union and Cap Fed. Cap Fed has ATMS in Manhattan (where I was going to go to school) and Lawrence (KU). JCCU has one in my campus though. Johnson County Community College. Won't be here but maybe another year and a half though.