Banks provide their customers a way to conveniently use their money, while providing tools they need to keep track of their expenses. Â For the most part, banks all offer the same thing. Â They have checking and savings accounts, loans, investments, and all the features that come with. Â I have worked in a bank for the last 6 years, and I would like to share the benefits, negatives, and special offers a few of the major banks offer.
Chase – Â
Pros: Chase Bank is one of the largest banks in the US. Â They offer the most advanced features with their accounts of all the banks. Â Their online banking and bill pay is simple and intuitive, their mobile app offers most of their services from the palm of your hand, their credit cards offer the greatest rewards and offer blueprint which is a way to track your spending, and they house over 40% of the worlds billionaires.
Cons: Their branch employees are paid on a commission basis, so instead of being helped they will attempt to sell you anything they can. Â It is common to hear different answers by different employees for the same question. Â It seems that some of their employees are not trained well enough. Â Their interest rates on savings is sub par, which is common with well funded banks.
Special Offers: Chase consistently offers $100 when non account holders open a new account. Â You can generally search for this coupon on the internet. Â Another place to look is at the post office. Â They generally have coupon books that contain the coupon. Â Here is a current link for a $100 offer for opening a business account at Chase Bank.
Pros: Wells Fargo bank offers the basic services that all banks should have. Â Their customer service has been noted as being one of the best out of the major banks. Â
Cons: Wells Fargo charges $7 a month for their online bill payment service, most banks offer this service for free. Â
Special Offers: Here is a link for $50 when you open a checking account with Wells Fargo.
Pros: PNC offers a growing # of branches, My Wallet which is a way to conveniently track your expenses on their website, and decent products. Â Â
Cons: PNC has commonly had issues with customer service, and employees who don’t seem to know what they’re doing. Â
Special Offers: Here is aÂ $100 offerÂ when you open a checking account with PNC Bank. Â
Pros: Citi Bank has one of the better online banking and bill pay systems of the major banks. Â They also offer a great mobile app, and a lot of other features such over 20 different rewards credit cards to choose from. Â
Cons: Citi Bank has been affected by a lot of their sub prime loans going into default. Â They continue to work through all the losses that those loans brought to them. Â They have not been able to work on expanding their banking side due to these problems. Â Â
Special Offers: Here is a deal that offers up to $500 in gift cards when you open a new checking account with Citi. Â As always, there are stipulations with this offer that you need to make sure you read through. Â
Pros: TCF is conveniently open extended hours, as well as Sundays. Â The branches are also in Jewel’s. Â
Cons: TCF is one of the worst banks among all of the major banks. Â They survive on the higher fees that they charge their customers, they have the worst customer service, and they are very aggressive with their sales tactics. Â
Special Offers: TCF Promotion Page often offers $100 when you open a new checking account. Â