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xort 09-24-2009 04:07 PM

banking choices
 
Want to settle on a bank before committing to long term cruising. Need on-line banking, low fees, good access along the way.

Options are Chase, Citi and BofA for good access wherever we go. Range will be Bahamas, north to Canada; all along the east coast US.

Any suggestions?

webdood 09-24-2009 04:49 PM

Two Choices IMHO
 
If you are cruising in the Bahamas much, you will find that Royal Bank of Canada is the pervasive bank there. You will not find a BofA in the Bahamas, but you will always be able to find an ATM that will take your card - although sometimes for a fee.

If you ask me, given your cruising choices, RBC is the best bet.

xort 09-24-2009 04:57 PM

RBC...as an American? How is RBC along the east coast USA?

casioqv 09-24-2009 05:29 PM

Find a local credit union with good online banking.

Many of the major banks are extremely dishonest. Bank of America almost left me stranded overseas once by charging me huge fees each time I used my card overseas- something they promised not to do when I met with them before my trip. They literally robbed me!

My experience with credit unions is that they generally will have much better service, and no unexpected fees. They have no conflict of interest with stockholders, executives, etc- they are customer owned and exist solely for the benefit of their members.

My credit union charges no fees for overseas ATM use, and no overdraft fees. When I travel overseas I use the local ATMs, and pay only the fee they add on, which is usually minimal.

wind_magic 09-26-2009 09:11 PM

Xort, why not open another account at a bank in the Bahamas, then you can deal with local people while you are there and probably cut down on fees too. Just a thought.

CaptainForce 09-27-2009 08:49 AM

Quote:

Originally Posted by casioqv (Post 525935)
Find a local credit union with good online banking.....

I think casioqv has the wisest answer. I've adhered to his choice with my livingaboard and fulltime cruising from Maine to the Bahamas for many years with no problems of any kind. 'take care and joy, Aythya crew

danjarch 09-27-2009 10:07 AM

Xort, If your military or exmilitary then check out USAA, They're based in Texas and have a great online banking setup. Including being able to scan in deposits and covering most fees since their main focus is online rather then phisical branches. The only trouble is that you have to military or family of military who have an account with them. They also have really good auto insurance but not boat insurance. They go through progressive for that.

canadianseamonkey 09-27-2009 10:14 AM

Here is the American side of RBC RBC Bank - Home
They specialize in out of the country accounts and will lend money for certain overseas property purchases.....if you ever feel the need to make an investment.

labatt 09-27-2009 10:17 AM

Just make sure whatever bank you go with doesn't charge fees for "currency exchange" when you use your credit or debit card. We use HSBC, which is an international bank, and got a world card with no fees for outside the US use.

xort 09-27-2009 10:22 AM

Quote:

Originally Posted by danjarch (Post 526719)
Xort, If your military or exmilitary then check out USAA,

Honorably discharged after 4 years. Does that count?


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