Primary Bank for a Nomad

[Barefootwoman]

Been streamlining in anticipation of an upcoming life transition to becoming a digital nomad (primarily in the US)

I probably have too many bank accounts, have gone paperless.

Thinking I need to consider which bank to use as a primary, hub bank.

Currently banking with:

Cap One
Wells Fargo
Pen Fed Credit Union
Alliant Credit Union
Chase
small local CU

Have Cap One now as primary, but thinking of changing. They are not as customer friendly as they used to be.

Of priority, I would think for a nomad, would be wide spread free ATMs, and a very solid online banking interface.

Suggestions appreciated.

 

[madage]

I've used Alliant as my hub bank since 2010. I have never visited a physical branch (which are only in Chicagoland, I believe) and have never paid a single ATM fee. Allpoint ATMs are fee-free, and 3rd-party ATM fees are refunded up to $20 per month. Add in free next-day ACH push/pull, mobile deposits almost always immediately available (YMMV), "good enough" online bill pay, and decent interest rates on both checking and savings. It's tough to do better than Alliant.

 

[GettingReady]

I’ve also heard Alliant is good.

Speaking of a hub bank, I’ve been sorely lacking in that area. I’m going with Ally since I have an established account. To clarify a “hub account” are people dumping MOs/ACH deposits into other accounts and then transferring the money from those accounts to BP/ACH pull/push CCs?

When I was under six figures, it wasn’t so bad, but like barefootwoman, i need to streamline things (for different reasons).

 

[madage]

I’ve also heard Alliant is good.

Speaking of a hub bank, I’ve been sorely lacking in that area. I’m going with Ally since I have an established account. To clarify a “hub account” are people dumping MOs/ACH deposits into other accounts and then transferring the money from those accounts to BP/ACH pull/push CCs?

When I was under six figures, it wasn’t so bad, but like barefootwoman, i need to streamline things (for different reasons).

I have not used Alliant for MOs, but did mobile-deposit all of my TPM (RIP?) checks there with no issues.

 

[kristian]

USAA

 

[swg201]

Second USAA, they have a good network of third-party fee-free ATMs and they do reimbursements for the times when you do need to incur an ATM fee. Customer service can do just about anything over the phone too (cashier's checks, etc.) without needing to visit branch.

 

[iny]

Charles Schwab: no foreign transaction fee and infinite ATM fee reimbursement.
Denizen: no foreign transaction fee, refunds for bank owned ATMs. But somewhat buggy as a startup.

 

[churning_medic]

I'm surprised Schwab isn't on your list. It's kind of the de-facto standard account for digital nomads. No ATM fees at all. I mean they're not the best for savings (I don't think they offer a savings product at all), but their checking account is unrivaled. I usually ACH transfer money in there as needed.

 

[gfdsa146]

+1 to Schwab. Fidelity also offers similar ATM conveniences as Schwab, but their customer interface is pretty clunky. Schwab's customer service is a cut above all other banks though (case in point - I deposited a check with them and needed the funds available the same day. Rep 3-way called the issuing bank, ensured that the funds were available, then gave me instant availability to the check's funds).

Ally and Alliant are also good options as interest-bearing accounts, primarily because their ACH pushes can meet direct deposit requirements for many bank bonuses. Schwab meets many DD requirements as well.

Between Schwab, Ally, and Alliant, you get free ATMs and a path to meet many bank bonuses.

 

[churning_medic]

I'm a fan of Schwab. No ATM fees worldwide at any ATM. Unless I'm visiting a third world country with no ATMs, I never even bother going to a FOREX store say home. I just use my Schwab card when I leave the airport and I always get better conversion rates that way.

One thing about Schwab is the interest rate sucks, so I just ACH from another account as needed.