Re: Recommended bank accounts
Originally Posted by Pulaski
(Post 12155244)
It took a few weeks to arrange to move my Amex relationship over to the US, then I was rolling! :nod:
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Re: Recommended bank accounts
Originally Posted by LouisB
(Post 12155263)
Interesting, I have a uk £ Amex MasterCard, could that be useful in any way for US credit history etc?
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Re: Recommended bank accounts
Originally Posted by Pulaski
(Post 12155268)
Unless it was issed BY Amex, then it won't help you at all. ..... But you can apparently now swap a UK Amex card with as little as three months of history, so it probably isn't too late to open a UK Amex card, use it a little, then swap it for a US Amex card even if you have been in the US for a month or longer.
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Re: Recommended bank accounts
Originally Posted by H Bomb
(Post 12155304)
That must have changed recently. When we moved they required 12 months and we had only had an Amex for 11 months so it was a no go.
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Re: Recommended bank accounts
Originally Posted by Owen778
(Post 12155128)
...
- Wells Fargo are often recommended here, but many Americans are upset by their recent major fraud, with branch bankers setting up extra accounts for customers without their knowledge in order to gain bonuses - Chase (they use this name for US retail banking, not JP Morgan) is where we bank. They are large and efficient, but not great value. We keep our savings elsewhere to get a decent interest rate. - Capital One seem to be well respected, and give better interest rates than the major "national" or international banks. We have our kids' accounts there. ... I know people who bank with Wells Fargo and Capital One and I haven't heard any bad reviews.
Originally Posted by LouisB
(Post 12155180)
... Chase and Wells are options if they are the better banks overall.
Do either give decent mobile online banking? I'm used to Barclays uk online/banking and it really is first class. I think that most banks offer fast/instant transfers within the bank though (i.e. from your Chase account to another person's Chase account). Chase's version of this is called QuickPay. There is some third-party providers for sending cash to other people like Venmo and the like, but I've never used them.
Originally Posted by Pulaski
(Post 12155308)
... the end of the exclusive agreement that Amex had with Costco - which I heard was worth as much as ALL of Amex's business in Europe! ...
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Re: Recommended bank accounts
Originally Posted by cautiousjon
(Post 12155336)
..... Most banks in the USA will have reasonable online banking facilities and mobile apps. However, be aware that the USA doesn't have anything like the UK's Faster Payments system, which allows you to make near-instant transfers between banks (up to 2 hours delay). You can do expensive wire transfers (which are very rarely used by most people, if ever), and there is a system called Automatic Clearing House (ACH). ACH payments can be made between banks for free but transfers take a few days. ....
I still have no idea how the bank intercepts the email, because the sender has no idea which bank the money is going to be received at, much less any account details. I just had to register my email address against the account that I wanted the money to be received in. |
Re: Recommended bank accounts
Originally Posted by cautiousjon
(Post 12155336)
I think that most banks offer fast/instant transfers within the bank though (i.e. from your Chase account to another person's Chase account). Chase's version of this is called QuickPay. The scheduling tool on the Chase app is really easy to use. |
Re: Recommended bank accounts
Word of warning - with ACH choose your transfer days wisely.
For example, set a transfer going on a Friday before a holiday weekend and you may end up waiting until Wednesday the following week for the cash to appear on the other end! |
Re: Recommended bank accounts
Originally Posted by tom169
(Post 12155357)
Word of warning - with ACH choose your transfer days wisely.
For example, set a transfer going on a Friday before a holiday weekend and you may end up waiting until Wednesday the following week for the cash to appear on the other end! |
Re: Recommended bank accounts
Another option might be to look into using a credit union. They're often better, certainly for new folks but wouldn't have as large of a branch network if that were important.
If you're coming here on a work visa, might be worth asking colleagues who they use. |
Re: Recommended bank accounts
Originally Posted by Bob
(Post 12155362)
.... If you're coming here on a work visa, might be worth asking colleagues who they use.
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Re: Recommended bank accounts
Originally Posted by Bob
(Post 12155362)
Another option might be to look into using a credit union.
However, my recent experience with credit unions (CU) has been horrible. We set my daughter up with a CU account when she went off to college. It's been a PITA with rules, restrictions and fees. Perhaps some of the issues are specific to this particular CU but they tell us that many of these restrictions are imposed on all CU's by law. Our son will have a "real" bank account when he sets off to college in another year or so. |
Re: Recommended bank accounts
Originally Posted by cautiousjon
(Post 12155361)
Indeed. Chase tells me what day the money will arrive in the recipient's account, and it's usually three to five days after I send the payment.
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Re: Recommended bank accounts
Originally Posted by Adambradshaw
(Post 12158471)
Is Barclays an option?
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Re: Recommended bank accounts
Originally Posted by tom169
(Post 12158477)
I don't think they even do checking accounts under the Barclays brand. If they do, I've never heard of them having physical presence.
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