[Bill14564]

Originally Posted by Pugchief

Can someone explain why you think you need a "local" bank in 2024? Unless you have a need to deposit cash frequently, you can literally do the other 99.9% of your banking online. I used to use Schwab, now Fidelity. Free ATM including reimbursement of fees, free wire transfers, free bill pay, no fees for most basic needs.

All of my bills are auto-debited using the routing number on the checks (Fidelity uses UMB Bank as their checking back-end, and the rep told me to use that routing number). You can transfer $100,000 per day in or out electronically via ACH. If you need to send more, you can wire it for free. Easy to use online interface. And balance earns 5% currently (that's why I switched from Schwab). And if you really need to do something in person, there is a branch in LSL.

The only thing more unnecessary than a local bank is one of the too-big-to-fail megabanks that rape you on fees and have nearly destroyed the US economy on more than one occasion. They don't deserve your business IMHO.

99.9% doesn't help much when you really need that 0.1%:
1. I was able to pick up my golf cart the same day with a bank check from the local citizens first bank. Otherwise, I would have waited a week for the personal check to clear.
2. I was able to deposit a very large check with a trip to the local branch. I don't know what limits the online banks have but I'm skeptical that they would have accepted it via mobile deposit.
3. I dislike paying ATM fees to get cash. A local bank gives me free ATM plus the option of stopping in person.