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  • I like to really investigate the complaints on the on-line banks, especially the less well known ones. Even if a bank is FDIC insured, it may be a pain to get your funds out.

    • MoneyNing says:

      From writing these reviews and then letting people talk about the bank, I find that pretty much every bank has a ton of negative press.. 🙂

      I think in general, getting funds in and out is similar (apart those pesky transfer limits). The problem lies when you are unique requests. For example, someone made a comment recently on a competing bank that said they were unable to change his accounts from under his name to a name of a trust, and then said the only way to do so was to close all the accounts, which involved incurring fees.

      Something like that is a very special case, and it would be impossible to figure out ahead of time unless you wrote the guidelines of the bank yourself.

      The key for me is to have good customer support, because sometimes, the customer rep can go above and beyond what’s normal and help you out base on common sense even if it breaks their standard procedure.

  • Cindy says:

    Why does the Zions Bank website say it’s been in business since 1873 and you claim that they merged to become Zions Bank in 1957? Who’s right?

    • MoneyNing says:

      Let me clarify…

      According to their website, the original bank (Zion’s Savings Bank and Trust Company) was founded in 1873, then in 1957, three banks, Zion’s Savings Bank and Trust Company, Utah Savings and Trust Company (founded in 1889) and First National Bank of Salt Lake City (founded in 1890) merged to form Zions First National Bank so that’s why you see both years.

      I should have been more clear right from the start, but now you know. 🙂

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