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Question, re: Maryland banks


ChadsterMD
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Oh, I am SO glad to see that MCA is still doing her good work, despite the attempts of evil spammers! :) Anyway, I'm hoping somebody could shed some light on something for me. I'm currently reported to Chex, and I've been banking with Woodforest since I moved to Maryland. I know a lot of people have had great experiences with them, and maybe it's just my local branch, but I'm really unhappy with them...and the steep fee really takes a bite out of things!

 

Anyway, this isn't a thread to bash Woodforest -- I'm simply looking for some insight on a couple of possible options from knowledgable folks.

 

1) I'm a student, and I get my refund checks from school each semester, and they're drawn on BB&T bank for a fairly hefty amount. My first semester here, I just sucked up the $8 fee that BB&T charged me, because it was nice not having a long hold on a big ol' check. Anyway, flash forward to now, and I see that BB&T has a prepaid option called "MoneyAccount" that's $5 a month, and that you can load at local branches. I'm curious if anybody's had any experience with this account, which has apparently been around a couple of years now. Mainly, I'm trying to find out if/how much the bank will charge me for non-BB&T checks I deposit...I can't seem to get a straight answer from the BB&T folks via phone. If it's the $8 still, that's unfortunate, but since I don't get many checks other than the semesterly ones, I could weather that, and overall, the MoneyAccount card looks like a good setup. Just looking for feedback from folks in the know.

 

2) I've heard good things about SunTrust -- and their main branch is right downtown, right across the street from BB&T. From some research, I keep reading that they seem to focus more on TeleCheck, but I've seen a few conflicting reports. So, I wanted to see if I could get folks to weigh in on their offerings, too, since they have an account that, as long as you have 10 transactions that you initiate a month, you can avoid a monthly fee.

 

I'd appreciate any help folks can give! And I want to say thank you for introducing me to WoodForest...even though I don't think I'll ultimately stay with them because the local branch folks are really leaving a bad taste in my mouth, it felt good to be welcomed and accepted by a bank that really seemed to "get it" that mistakes happen, and ChexSystems reports do not people-worse-than-the-Devil make! They're definitely a good first step for folks wanting to get back on the right track! :)

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  • 2 weeks later...

The BBT Money Account is a prepaid debit card, not a bank account. You can load funds to the card by Direct Deposit, Visa Ready Link, or with cash in a branch. You would not be able to deposit a check to the card like you would a regular bank account. See the FAQ page for the BBT Money Account. Have you considered getting your school loan funds direct deposit? For a list of banks that dont use Chex in your area, register for the forum on MCA's website to access the list.

 

Sent from my ME301T using Tapatalk 2

 

 

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Thanks, Denise! It's my impression that I can deposit checks drawn on BB&T account at a branch with no fee, but deposit other checks at a branch with a fee. Guess I'll have to see what they tell me when I take the check to the branch. As I said, I'm not terribly worried overall, and the MoneyAccount is a good choice for me right now since most checks I'll be depositing will be from BB&T...sadly, my school doesn't allow financial aid refunds to be direct deposited; they only allow that convenience for student employees' work-study funds. :/

 

And as for SunTrust, I was just trying to figure out whether they used Chex or not, as I've read that they use TeleCheck, but after doing some digging, their terms and conditions for deposit accounts seem mention all of the big 3 (Chex, EWS, and TeleCheck).

 

In the grand scheme of things, since BB&T has such a large presence here, the MoneyAccount should serve my banking needs while I'm in school. Thanks! :)

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Oh, I am SO glad to see that MCA is still doing her good work, despite the attempts of evil spammers! :) Anyway, I'm hoping somebody could shed some light on something for me. I'm currently reported to Chex, and I've been banking with Woodforest since I moved to Maryland. I know a lot of people have had great experiences with them, and maybe it's just my local branch, but I'm really unhappy with them...and the steep fee really takes a bite out of things!

 

Anyway, this isn't a thread to bash Woodforest -- I'm simply looking for some insight on a couple of possible options from knowledgable folks.

 

1) I'm a student, and I get my refund checks from school each semester, and they're drawn on BB&T bank for a fairly hefty amount. My first semester here, I just sucked up the $8 fee that BB&T charged me, because it was nice not having a long hold on a big ol' check. Anyway, flash forward to now, and I see that BB&T has a prepaid option called "MoneyAccount" that's $5 a month, and that you can load at local branches. I'm curious if anybody's had any experience with this account, which has apparently been around a couple of years now. Mainly, I'm trying to find out if/how much the bank will charge me for non-BB&T checks I deposit...I can't seem to get a straight answer from the BB&T folks via phone. If it's the $8 still, that's unfortunate, but since I don't get many checks other than the semesterly ones, I could weather that, and overall, the MoneyAccount card looks like a good setup. Just looking for feedback from folks in the know.

 

2) I've heard good things about SunTrust -- and their main branch is right downtown, right across the street from BB&T. From some research, I keep reading that they seem to focus more on TeleCheck, but I've seen a few conflicting reports. So, I wanted to see if I could get folks to weigh in on their offerings, too, since they have an account that, as long as you have 10 transactions that you initiate a month, you can avoid a monthly fee.

 

I'd appreciate any help folks can give! And I want to say thank you for introducing me to WoodForest...even though I don't think I'll ultimately stay with them because the local branch folks are really leaving a bad taste in my mouth, it felt good to be welcomed and accepted by a bank that really seemed to "get it" that mistakes happen, and ChexSystems reports do not people-worse-than-the-Devil make! They're definitely a good first step for folks wanting to get back on the right track! :)

Suntrust is a kinda hit and miss situation, If you are local to United Bank http://bankwithunited.com/ they would be an excellent one to try, they no longer use chexsystems

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  • 2 months later...
  • 1 month later...

I got rather busy and didn't check back in on this topic -- thanks for the replies! I've had the BB&T prepaid card for a few months, and it's worked flawlessly when it comes to depositing my checks from school and stuff, and I'm continuing to use my BlueBird card as a secondary card as well...so the grand total of $3-$5 in monthly fee (depending on my amount deposited each month) has been pretty reasonable.

 

I might still check out your recommendations, though, just because I like the idea of having options....and so I can weigh in case anyone else has questions and lives in my neck of the woods.

 

Thanks again...and mca -- so glad to see you're still providing great info even without your CV forum (which I sure miss!).

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So, I was doing some wandering around town, and I never quite realized how many banks we have in this town....lol. Anyway, I'm planning to go down the list and contact each one, but before I do, I thought I'd see if anybody has any feedback on any of them, so I'm not reinventing the wheel. I'll be sure to post what I find out about any of them in addition.

 

Thanks in advance for any insight. :) I'm mainly just looking to open a savings account to complement the really good (for my situation) prepaid options I'm also using. I've also ordered my Chex report and am trying to steel up my nerves to tackle what I've heard is a laborious process to get my EWS report, too. I just want to get all of this set straight, but I want to be setting aside and building a bit of a nest egg while I do it.

Edited by ChadsterMD
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So, I was doing some wandering around town, and I never quite realized how many banks we have in this town....lol. Anyway, I'm planning to go down the list and contact each one, but before I do, I thought I'd see if anybody has any feedback on any of them, so I'm not reinventing the wheel. I'll be sure to post what I find out about any of them in addition.

 

Thanks in advance for any insight. :) I'm mainly just looking to open a savings account to complement the really good (for my situation) prepaid options I'm also using. I've also ordered my Chex report and am trying to steel up my nerves to tackle what I've heard is a laborious process to get my EWS report, too. I just want to get all of this set straight, but I want to be setting aside and building a bit of a nest egg while I do it.

Many credit unions will allow a savings account regardless of a chexsystems report. From what I know .. the ones you listed all use chexsystems unless something has changed since I last checked

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Wow....that's sad to hear, but thanks, mca -- you would definitely be the one in the know! I'll check with the local credit unions hthat I'd qualify for membership with based on living here and going to school here and see if I can get a savings account. I might even check with United Bank that you mentioned above, though it's a bit of a pain, because the nearest branches are 20-25 miles in any direction (no joke -- they basically have branches in towns in every direction from here...but not here!)....it's like they decided to just set up a ring around town, but not actually come here! lol

 

I'm working hard to turn my financial situation around, from Chexsystems/EWS to credit, and boards like this and people like you have been a great help to me so far. Thanks again! :)

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  • 3 weeks later...

Wow....that's sad to hear, but thanks, mca -- you would definitely be the one in the know! I'll check with the local credit unions hthat I'd qualify for membership with based on living here and going to school here and see if I can get a savings account. I might even check with United Bank that you mentioned above, though it's a bit of a pain, because the nearest branches are 20-25 miles in any direction (no joke -- they basically have branches in towns in every direction from here...but not here!)....it's like they decided to just set up a ring around town, but not actually come here! lol

 

I'm working hard to turn my financial situation around, from Chexsystems/EWS to credit, and boards like this and people like you have been a great help to me so far. Thanks again! :)

If you are close to a WoodForest Bank, they would open a second chance account for you for a monthly fee

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Yeah, I actually used to bank with Woodforest, but i wasn't very happy with their service -- maybe I just got unlucky with my local branch, I dunno. So, that's why I initially started looking to see what else was out there. I've finally gotten settled into some banking options that fit me pretty well, so overall, I'm happy. :) I'm using BB&T's MoneyAccount option to deal with my school checks, and I also have an online savings account and then a brokerage account that acts as my main checking account. Being able to stop at any ATM and not having to worry about fees is definitely nice! :)

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  • 3 weeks later...

Suntrust is a kinda hit and miss situation, If you are local to United Bank http://bankwithunited.com/ they would be an excellent one to try, they no longer use chexsystems

 

MCA, just a heads up -- I just got off the phone with the customer service folks at United Bank (bankwithunited.com), and the rep told me that in opening accounts, they run, and I'm quoting the rep here, "either Chexsystems or Telecheck...whichever one they choose."

 

So now I'm not 100% sure about venturing by on Friday when I'm just down the road from one of the branches, because I really don't want to have to feel that in-person sinking feeling that comes when you get denied due to Chex. :(

 

Has anybody had any luck with United Bank? If so, a particular branch?

 

Currently, I have the BB&T Money Account, which makes depositing and accessing the funds from my college checks easy-peasy since they're drawn on BB&T, but still leaves me out in the cold for other things, like ACH transfers and depositing other checks. I'm concerned about my brokerage account & cash management with Fidelity due to them utilizing MSI, and possibly closing even long-standing accounts.

 

The cash management account I had with TD Ameritrade got denied for check card and banking services, so I closed that one, also because I get lower commissions with Fidelity. I REALLY don't want to lose the Fidelity accounts, but I'm looking for backup options, just in case. I thought about SunTrust, since they're very convenient for me and offer other good financial services for getting back on track (like several secured credit card options), but I've heard they may use Chex and/or EWS. It's frustrating. I think I get settled into a good setup, and then I hit bumps or discover red flags. It's discouraging, when all I'm trying to do is get myself back on track. :(

Edited by ChadsterMD
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Well, I THINk I'm finally squared away. I hope.... :dntknw:

 

I got my account established with E*Trade, and I also went ahead and applied for Armed Forces Bank, like was mentioned in another thread. It took a few days to get the account established, and there was lots of faxing and e-mailing back and forth, but I got it squared away, and got an e-mail today that the account is open. So, I'm just waiting for my debit cards for both these accounts.

 

I'll keep my Fidelity account open, too, simply because I like a lot of the features it has, but I won't keep a ton of money in it at one time in case I'm one of the unlucky ones who get it frozen -- but I figure that way, I'll have money in a few different places, AND I can let people in the forum know if I do get frozen with Fidelity, just as a way to keep information flowing about what's going on with those accounts.

 

I'll use my BB&T card for quick access to my school-issued checks and I'll split the rest of my money between E*Trade (for investing and earning a bit of interest, as well as ATM rebates), Armed Forces Bank (www.afbank.com -- a nationwide option open to anyone) for my main account. And keep a bit socked away in Fidelity, just as a back-up, and to keep an eye on what they're doing to people's accounts.

 

Sorry I've had such a mixture of ups, downs, and panic in this thread...but I hope some of the things I've discovered will help other people out, because I really do wanna pay it forward. :good:

Edited by ChadsterMD
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