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RE: Did it

Well done, but aren’t they all the same overall. You may escape one fee here, but they will catch you with another one there.

The banks should pay us for using a debit card as they save them much in administrative costs. Think about what the next best alternative costs them. That is the opportunity cost that they are saving.

I hope you told the old bank why you were doing it?

It probably does not care because most banks regard small domestic retail customers as contributing little to profits, and really just a nuisance. Poor service and high fees helps to dump this dubious business onto competitors.

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RE: Did it by wyldeling

Well done, but aren’t they all the same overall. You may escape one fee here, but they will catch you with another one there.

Sort of. As far as their banking is concerned, USAA banking is a credit union, and credit unions usually have much better customer service. In this case, we get no fee checking and will refund up to $12/month in foreign (not theirs) ATM fees. They’re savings account has a low interest rate compared to other banks without a physical presence, but better than those with. The only real trade off: no branches.

But, their service cannot be beat. If you can get it, do so. My wife and I went with USAA, which is a credit union. We’ve had our insurance through them since before we were married, have had a car loan, and credit card through them, also. After Hurricane Gustav hit Baton Rouge, they called us to see if we were all right as they were evacuating Houston because of Hurricane Ike.

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