Bank recommendations in Austin?
January 17, 2009 6:44 PM Subscribe
After some errors and temporarily "lost" deposits, my wife and I want to ditch our current local bank (Velocity Credit Union). We want something with a brick-and-mortar presence in Austin, Texas that offers excellent online banking (for example, doesn't sit on electronic transfers for days before posting them). Anyone in Austin have a positive experience they'd like to pass along?
I have a checking account with Bank of America which have branches everywhere. The online bill pay is great since they electronically transmit to almost everyone, to those that don't they will mail a paper check and unlike other banks I've had do not deduct the money from your account until the payee actually cashes it. Most of my online billers get paid the next business day. I don't get money transfered into the account much, but ATM deposits are quickly posted the next business day and so far they haven't ever placed a hold on anything. I've not had (knock on wood) any problems requiring me to go into the bank. I've probably needed to go inside the branch three times ever -- once to open the account, once to deal with foreign currency, and once because I needed money and my card couldn't be read.
It is a huge, faceless bank but there are ATMs everywhere, they have deals with banks in other countries to avoid stupid foreign ATM fees. And the haven't "lost" any of my deposits. To me I need a bank that has ATM access, doesn't put holds on my money, doesn't charge anything and lets me do pretty much everything online.
posted by birdherder at 7:20 PM on January 17, 2009
It is a huge, faceless bank but there are ATMs everywhere, they have deals with banks in other countries to avoid stupid foreign ATM fees. And the haven't "lost" any of my deposits. To me I need a bank that has ATM access, doesn't put holds on my money, doesn't charge anything and lets me do pretty much everything online.
posted by birdherder at 7:20 PM on January 17, 2009
Oh, and I'm in Austin. In addition to the branches throughout the city, they have freestanding ATMs at the Valero convenience stores.
The only thing I wish they did have is ATMs that scanned money/check deposits immediately. The bank has this in other states, but I haven't seen it in the 512. It would also be nice to do the at home scanning of checks as well. But since I get maybe 5 checks a year it isn't a deal killer for me.
posted by birdherder at 7:29 PM on January 17, 2009
The only thing I wish they did have is ATMs that scanned money/check deposits immediately. The bank has this in other states, but I haven't seen it in the 512. It would also be nice to do the at home scanning of checks as well. But since I get maybe 5 checks a year it isn't a deal killer for me.
posted by birdherder at 7:29 PM on January 17, 2009
The auto-scan ATM thingies are here - the BofA at Ohlen and Research, in front of Target, has them
Bank of America took $1700 from my account because someone in Rio de Janeiro bought airline tickets with my account number. I never lost the card. They refused to refund, they blamed me, my mortgage and car payments bounced. I must've talked to 15 different people. Eventually I sent a letter to the federal banking people, after talking to the cops, and a week or so later B of A gave me back my money and sort of apologized. Sort of.
I still use them because they are convenient, have great online banking, and I am terribly lazy, but don't think that they don't mess up - they do. And when they do mess up you are dealing with a GIGANTIC BEAST WITH ACID FOR BLOOD AND SHIT FOR BRAINS. So be careful.
I've heard good things about Travis County Credit Union, and assuming you live in Travis County you could become a member.
posted by dirtdirt at 7:41 PM on January 17, 2009
Bank of America took $1700 from my account because someone in Rio de Janeiro bought airline tickets with my account number. I never lost the card. They refused to refund, they blamed me, my mortgage and car payments bounced. I must've talked to 15 different people. Eventually I sent a letter to the federal banking people, after talking to the cops, and a week or so later B of A gave me back my money and sort of apologized. Sort of.
I still use them because they are convenient, have great online banking, and I am terribly lazy, but don't think that they don't mess up - they do. And when they do mess up you are dealing with a GIGANTIC BEAST WITH ACID FOR BLOOD AND SHIT FOR BRAINS. So be careful.
I've heard good things about Travis County Credit Union, and assuming you live in Travis County you could become a member.
posted by dirtdirt at 7:41 PM on January 17, 2009
I too, have a BoA account, going on at least 10 years now (including the 5 I spent in Austin). I've never had any problems with them, though I rarely ever interact with an actual bank employee. I prefer to do my stuff online, and their services are quite good. The one time I had to deal with customer service was when I left my debit card somewhere (a gas station, I think), and the woman on the BoA customer service line was very nice and helpful, especially considering I was freaking out imagining someone going on a shopping spree with my money.
For an alternative option, my husband used University Federal Credit Union when we lived in Austin, and he quite liked them. I travel enough that I like the convenience of BoA's omnipresent ATMs.
posted by DiscourseMarker at 7:58 PM on January 17, 2009
For an alternative option, my husband used University Federal Credit Union when we lived in Austin, and he quite liked them. I travel enough that I like the convenience of BoA's omnipresent ATMs.
posted by DiscourseMarker at 7:58 PM on January 17, 2009
How strange, I was going to create a question about credit unions in Austin just a few days ago but never got around to it.
I used to belong to a credit union attached to a food co-op, before I moved to Austin. They didn't charge fees for things many regular banks do - like online banking. And they used my money and money from other customers to make loans to really cool and really deserving "local" projects. A tofu-making / herb-growing business, a great little record label, a small art gallery. I'd love to find something like that in Austin too. It's just nice to think one's money is working for cool people and not going to Bank Of America (etc) corporate goons.
Velocity Credit Union is one I've looked at . . . I'd love to know where it went wrong for you.
posted by Dee Xtrovert at 9:25 PM on January 17, 2009
I used to belong to a credit union attached to a food co-op, before I moved to Austin. They didn't charge fees for things many regular banks do - like online banking. And they used my money and money from other customers to make loans to really cool and really deserving "local" projects. A tofu-making / herb-growing business, a great little record label, a small art gallery. I'd love to find something like that in Austin too. It's just nice to think one's money is working for cool people and not going to Bank Of America (etc) corporate goons.
Velocity Credit Union is one I've looked at . . . I'd love to know where it went wrong for you.
posted by Dee Xtrovert at 9:25 PM on January 17, 2009
Frost Bank is Texas owned and operated, headquarters in San Antone -- if you have a problem (and I didn't have problems with them, at all) you can easily escalate up the chain, and drive an hour south and you're in their headquarters, to say hi to whoever you need to say hi to so as to get your problem resolved.
Try to find out where you can actually talk to someone in a position of authority at BoA, or Chase, huge monoliths based out of NYC or god only knows where. Good luck. You're a number, for sure. But not at Frost.
Frost has good online services, the usual complement of bill pay and all the rest. You're not going to find branches in every city you travel to but you will find ATMs and you can do most of what you'd need or want to do either online or through ATM transactions.
I left them because I have my mortgage with Chase and I wanted to simplify everything, keep it all in one place, one less website to go to, one less password to keep track of, etc and etc. They did all they could to help me any time I asked them to. A good outfit. And local.
posted by dancestoblue at 11:59 PM on January 17, 2009
Try to find out where you can actually talk to someone in a position of authority at BoA, or Chase, huge monoliths based out of NYC or god only knows where. Good luck. You're a number, for sure. But not at Frost.
Frost has good online services, the usual complement of bill pay and all the rest. You're not going to find branches in every city you travel to but you will find ATMs and you can do most of what you'd need or want to do either online or through ATM transactions.
I left them because I have my mortgage with Chase and I wanted to simplify everything, keep it all in one place, one less website to go to, one less password to keep track of, etc and etc. They did all they could to help me any time I asked them to. A good outfit. And local.
posted by dancestoblue at 11:59 PM on January 17, 2009
I used Bank of America in the Dallas area for five years (with checking account, savings account, and credit card). Never had a problem with lost/delayed deposits/withdrawals. I think I actually went inside the branch three times in those years: to open the accounts, once to buy some foreign currency, and once to get a cashier's check. I did everything else through online banking and did deposits at the ATM, and never had an issue.
posted by transporter accident amy at 2:46 AM on January 18, 2009
posted by transporter accident amy at 2:46 AM on January 18, 2009
I've had Wells Fargo for years (close to 10 now) and they seem pretty okay to me. Now that Wachovia is part of it I'd assume it's only more convenient with more ATMs and locations. I also have done business with United Heritage Credit Union and they seem very pleasant folks and do have a few branch locations, albeit none in downtown area. As to BoA since I am a loyal follower of Consumerist I've heard quite a few horrible stories about them. I am sure it doesn't happen to everyone...but then again, why take that risk?
posted by jstarlee at 7:13 AM on January 18, 2009
posted by jstarlee at 7:13 AM on January 18, 2009
If you have any connection to the military (formerly served, reservist, parents did any of that), USAA is a great bank - they have a brick-and-mortar presence in San Antonio but are otherwise mostly online. Highly recommended.
posted by squorch at 1:47 PM on January 18, 2009
posted by squorch at 1:47 PM on January 18, 2009
I posted this question about a year ago here.
I ended up going with United Heritage Credit Union. Their locations aren't the best for me, there's one sort of near work, but I rarely ever have to go there, so it's not a real problem. When I deposit checks, they show up in my acct immediately - not sure about electronic transfers though.
posted by theRussian at 8:00 AM on January 19, 2009
I ended up going with United Heritage Credit Union. Their locations aren't the best for me, there's one sort of near work, but I rarely ever have to go there, so it's not a real problem. When I deposit checks, they show up in my acct immediately - not sure about electronic transfers though.
posted by theRussian at 8:00 AM on January 19, 2009
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The best thing is the "Keep the Change" program. The premise is sort of silly- they round your transactions to the nearest dollar, and dump the difference in your savings account. But they match a percentage of the transferred money. So I just got ~ $37 in free money from them. Not bad.
Very nice online interface, including mobile banking if you have a smartphone. The transactions post quickly. So do brick and mortar deposits. It's also possible to find branches pretty much everywhere in America, as the name suggests.
The news these days is certainly scary; BOA is not exactly solid as a rock. But no bank these days is. And unless you're going to be investing far more than FDIC maximums, I think it's an acceptable risk.
posted by charmcityblues at 7:13 PM on January 17, 2009