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I prefer banks also rather than credit unions. I have used Bank Of Hawaii before and found them to be very professional.
I tried to get a $20.00 bill cashed for 2 fives and a ten recently at a local credit union next to safeway. After standing in a long line, they told me they couldn't do it. I had to be a member. So I walked into Safeway next store and they were happy to change my $20.00 without having to be a member or buy anything.
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Sorry Bob and Damon, it's not just the "few extra bucks interest" but extra free services like online bill paying, checks and such that Internet banks provide for free. BTW, the "few extra bucks interest" is close to double than the local banks pay. I would gladly support the local banks on even terms, or maybe even close to even terms, but it's not even close. I have had accounts with 10 Internet banks so far and there was just one ("AmTrust") that I had difficulty dealing with.
Aloha,
John S. Rabi ABR,CM,CRB,FHS,PB,RB
808.989.1314
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
quote:
Originally posted by John S. Rabi
....I have had accounts with 10 Internet banks so far and there was just one ("AmTrust") that I had difficulty dealing with.
I have had my same bank account here in Hawaii since the day I stepped foot on the aina.
Can I ask why you have been through so many different Internet Accounts?
There must be some sort of dissastisfaction if you keep changing from one to another.
That "just one" thing wrong with a bank can screw finances up for awhile.[  ]
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I can't find an ATM that will take a deposit to my mainland credit union account. I have tried the two banks in Pahoa, the Hawaii CU in Pahoa, and the ATM in Malama Market. They are all willing to give me cash but have no option for making a deposit. Any suggestions?
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quote]
Can I ask why you have been through so many different Internet Accounts?
There must be some sort of dissastisfaction if you keep changing from one to another.
[/quote]
I can tell you don't know much about Internet banking. [  ] I have one primary bank I deal with and I have a Money-Market Savings and Money Market Checking account there for years. However, for investment purposes, I go with whoever gives me the best return on my money and I keep changing the banks regularly. Never had any problem with any one of them, except "AmTrust" always took three days to answer my online questions.
BTW, I used to have a BOH account for 15 years but I really got pissed off when they charged me 50 cents for checking my balance at the ATM machine !]
Aloha,
John S. Rabi ABR,CM,CRB,FHS,PB,RB
808.989.1314
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
quote:
Originally posted by John S. Rabi
...I can tell you don't know much about Internet banking. ....
Correct [ ]
I'm just to dang skeptical after my "Myspace" account was hacked and all of the phish that have somehow been lured to my hook[ ][^][V]
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I've had a savings account at Ingdirect.com for a few years now, and every six months or so, they raise the interest rate! I am currently getting over 4%! The trade off is that it takes about a week to post / withdraw money, but as far as deposits go, it was taking me that long to find time to get to the bank.
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Switching banks isn't uncommon, especially with all the mergers and acquisitions going on.
I'm not against an "E-bank" if that's what someone wants. I just took exception to the idea that anyone who uses a brick & mortar bank is foolish. Like I said, my primary concerns are a balanced between service, return and COMMUNITY. It would be so hypocritical of me to talk about local economy, need for jobs, need for local economic development, need for local community spirit, etc all the while not supporting the local community bank for a few extra dollars. It would be the same as complaining about the need for more local products in stores, but the second some internet vendor has an aloha-shirt for a buck cheaper, I'm running out and buying from that vender in Texas who couldn’t care (and isn't contributing) to the local economy.
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quote:
Originally posted by Bob Orts
... all the while not supporting the local community bank for a few extra dollars.
I am sorry you took the "foolish" so personal, I didn't mean it that way. The truth is that the best rate the local banks offer now is 2% on a 3 month CD. The best internet rate is 4.20% on bankrate.com. If you have $1M in the bank the difference is $22,000 for a year. Even if you have $100K in the bank the difference is $2,200 for a year. That's not a few extra dollars.
Aloha,
John S. Rabi ABR,CM,CRB,FHS,PB,RB
808.989.1314
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
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Wow, with what I usually have in the bank, I'd be making an extra $22 a year! LOL.
I actually have both types of accounts and shuffle my money as needed into my CU Hawaii account. Let me just say thank Jeebus for CU Hawaii in Pahoa. Last week I jumped in my car and ran to Pahoa to get a post cap I needed right then. Got there and realized I had no wallet, ID, nothing. Was going to go home with my tail between my legs when I decided to take a chance and see if I could go in the credit union and withdraw cash. They didn't need anything. They had my license scanned in to show up on their computer. I was very very happy.
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