Page 19 - Money - November 2018

Credit Union Online Bank Big Bank
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Credit unions often offer bet- If you’re willing to forgo Accounts at the nation’s
ter rates and lower fees than physical branches, you can biggest banks have higher-
traditional banks, but they avoid nearly all the common than-average fees and
come with a membership fees. Since all your banking below-average interest rates.
requirement. For this catego- would be digital, we weighed But they’re unbeatable on
ry we considered only credit customer satisfaction with convenience. For this cate-
unions that readers could online and mobile banking gory we focused on breadth,
join from anywhere, generally features heavily. customer service, and
via a donation to a nonprofit Why it wins: Ally’s checking mobile banking capabilities.
organization. account is geared for con- Why it wins: Chase branches
Why it wins: Alliant has an venience, with free ATMs, are open an average of 50 hours
excellent no-hassle checking $10 in ATM surcharge refunds, a week—second only to TD
account that pays 0.65% and zero requirements to earn Bank, according to Yelp. Yet
interest, offers free ATMs, and 0.1% interest. Plus, it has an Chase also has above-average
rebates $20 in ATM surcharges. outstanding savings account, customer service scores in
Its free savings account also boasting an industry-high every region surveyed by J.D.
stands out compared with those rate of 1.9%. Ally also stood Power, and its mobile app is
of other credit unions, with a out for mobile app ratings rated higher than competitors’.
payout of 1.9%. Joining is higher than those of its com- Finally, Chase has one of the
easy—a one-time donation to petitors and around-the-clock highest branch counts, as well
nonprofit Foster Care to Suc- customer service. as 16,000 ATMs nationwide.
cess qualifies you as a member. Caveat: One of the best check-
Finally, customers give Alliant’s ing accounts is offered by Axos Caveat: If you can’t waive them,
mobile app high ratings. Bank (formerly Bank of Inter- monthly account fees are high.
And the interest rate on the
Caveat: With just two branches, net USA), a two-time winner in basic savings account is prac-
most members can use Alliant this category. But that account tically nonexistent.
only online or visit one of six af- requires jumping through
filiate branches if they need to some hoops for the perks: You Where you can find it: Ariz.,
conduct business in person. need a $1,000 direct deposit Calif., Colo., Conn., D.C., Fla.,
Also, as at other banks and and 15 debit card purchases a Ga., Idaho, Ill., Ind., Ky., La.,
credit unions, customers have month to qualify for the 1.25% Mass., Mich., Nev., N.J., N.Y.,
complained about Alliant’s over- interest rate. Ohio, Okla., Ore., Pa., Texas,
draft policy. Key account: Interest Checking Utah, Wash., W.Va., Wis.
Where you can find it: Ill. Monthly service fee: $0 Key account: Total Checking
Key account: High-Rate Interest: 0.1% on all balances Monthly service fee: $12,
Checking waived with a $500 direct
deposit or $1,500 minimum
Monthly service fee: $0 daily balance
Interest: 0.65%, with one Outside ATM fee: $2.50
direct deposit

$2.27
Free
Checking
$27.00 $1.00 74 % Share of institutions
48 %
that offer at least
Outside ATM Fees one general no-fee,
What you’ll pay if you use no-hassle checking
an out-of-network ATM. account.

NO VEMBER 2 018 MONE Y. C O M