Lets go over (in my opinion) the worst bank accounts out there and the specifics that make them so unappealing – enjoy! Add me on Instagram: GPStephan
The YouTube Creator Academy:
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://bit.ly/2STxofv $100 OFF WITH CODE 100OFF
Get 2 Free Stocks on WeBull when you deposit $100 (Valued up to $1400): https://act.webull.com/k/Vowbik9Tm5he/main
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
DISCLAIMER: The views and opinions expressed herein are those of the author and do not necessarily reflect the legitimacy of these companies. Many elements have been exaggerated for comedic effect. Do your own research and come to your own conclusion. This is not financial advice – for entertainment purposes only!
These are all banks that – in my opinion – have too many fees and pay very little in interest compared with other, online banks. Anytime I look for a bank to put my money, I pay close attention to any monthly maintenance fees, cost of sending or receiving wires, how to waive those fees, and the interest I’ll be paid from that account.
Generally, online banks have much less overhead and – because of that – they can pass those savings on to you by paying significantly more in interest. Many of those banks also don’t have as many fees as traditional banks do.
Number 5: Chase Bank
This is disappointing for me to mention, because the Chase Sapphire Reserve is one of my favorite Credit Cards, not to mention that Chase has several of the BEST credit cards currently on the market, all with REALLY good rewards. Chase Bank ALSO holds 2 of my mortgages, and they had INSANELY good interest rate at the time I applied…plus, their Chase Private Client services and perks are phenomenal when you deposit more than $250,000 with them…however, I have to say it…I have to call them out for this, because to me… their actual bank account is just…BAD.
Number 4: Bank of America
In their defense, hey’ve got a REALLY great credit card for people just starting out and building their credit, the Bank Of America Cash Rewards Card. They also have REALLY great mortgage rates…I refinanced one of my properties through them, and they were awesome. And their mobile app is REALLY easy to use, and the entire online interface is AWESOME. But, for me….the friendship ends there, and that’s where the line is drawn.
Number 3: Wells Fargo
Wells Fargo has been one of the only Bank Account I have EVER gone out of my way to cancel. Typically, it’s easy for me to keep $1500 in an account just to keep it open and maintain that relationship with the bank in the event I ever use them for a mortgage…but, nope, this was just SO bad that I couldn’t stand to keep it open.
Number 2: US Bank
Unfortunately, the number of fees – combined with how little they pay you in interest – makes this bank rather unappealing.
Number 1: CitiBank
This is the ONLY OTHER bank that I have gone OUT OF MY WAY TO CANCEL because it was just SO BAD. This is another one that I don’t like to mention…because their Double Cash rewards credit card is AWESOME…but the bank itself, from my experience, is a different story.
Some better options (Not paid to say this, not sponsored – just my opinion):
Ally Bank, no fees, no minimums – 1.7% interest
Marcus by Goldman Sachs – no fees, no minimums, 1.7% interest
CIT Bank, no fees, $1000 minimum, but pays 1.8%
PNC Bank – No fees, no minimums, 1.7% Interest
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness@gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
source
I’ve never paid a single fee in my chase account. Not one. I don’t understand the “service fee” since I’ve never had to pay it
Well these are the major company banks, good luck if you get a low end bank with no fees because these banks have branches all over the country, why have a bank account if you can’t even have a minimal income to prevent these fees 💁🏻♂️
Who uses these banks?
People’s
United bank has been great to
Me
Citi is for sure the worst
soooo funny!
Banks aren't for investments.
Im super curious what you would think of Navy Federal Credit Union.
Well, Bank of America is the only bank who will give me a credit card, so… I'm grateful for them😊
So why is he recommending bank of america for students even though he's bashing it's saving interest rates? I don't get it
👍
Yes these banks are predatory and will not work with you.
To other people I say do not do business with these institutions. I want out but I'm a slave to them. At all cost avoid them and do business with a small bank or credit union.
Use credit unions people. I don’t even need to watch
All these accounts are bad if you don’t use it as your primary account. That’s why they are designed that way with their fee structure. If you have them as your primary bank for normal banking, you won’t see a fee.
I closed Citi Bank Acct. too.
I live outside US. And i wonder what is the best option for me to open bank account for non us resident and can open through online with going to us physically and will generally allow you to open an account as a non-resident for both personal and business u
What account is Ally paying 1.7% on?
I'm only paying a 5 dollar fee on my BOA account. I don't know how you got twelve.
I love chase though…I just do basic deposits and withdraws and I don’t get charged fees, I’m getting my first college student credit card this week too :/
Boy am I glad I have a student account with BoA and I have that rewards card too
M & T bank does the same thing. I think ALL banks do something similar.
Just found out that service fees, money orders, and checks from the counter are waved for veterans. Even for my Premier checking acct. at Chase.
Bank of America's tier system includes anything in the Merill Edge brokerage account too. So, if you have that much lying around in a brokerage account, it's a good system. Added bonus, you get extra rewards on your credit card too.
This is a shock to hear. I've had the one checking account with BofA since I was a teenager. I didn't even know you could earn interest in your checking account.
Thank you Graham for opening my eyes. Going to look into getting a better checking account.
Has anyone used PNC?
US bank personally called me to welcome me to the bank when I opened a small checking account. The banker even called me a few days later to help me set up online banking. Never had any other bank or credit union no matter the size has ever done that…
YEP, Bank's are thieves operated by thieves… A bank is a tool and like any other tool if you don't know how to use it you may get hurt
Wells Fargo at least is convenient, ATMs and banks all over the place.
Awesome video, shows me why I would not want to bank with any of those.
Informative and funny lol. What a guy.
Oops ! I used to have all of these worst ones in the past
So what's the best bank in your guyzes opinion?
Just the same way I saw testimony of how Austin helped a man make -$50,000 weekly Profit I tried now am also sharing my testimony with over,$10,000 from the company thanks for the good did he has done for me for this short period of time
Omg I have citi bank and I dont like it at all! I am about to cancel it!
Tąi sao nhà Bank of America ho cü đóng cüå qùai vây, tôi không bíêt dùng ATM
Tôi chî múông đi thăñg lâý tìên, tąi sao ho cü đóng cüå qùai, tôi múông đóng cüå nhà Bank of America, tôi phåi làm sao?????
I'm 8n chex system,telacheck and early warning and have bad credit wells fargo was the only bank that would give me a checking account a and they wave the monthly fee if you use your debit card at least 12 times a month or maintain a $500 balance