Choice of Banks in America

The following is a short list of Major Banks you can use in America. Last in this list I included a Credit Union which is not a major bank since those guys look after new engineers (with no credit history) in the bay area.

Wells Fargo

About: Wells Fargo is the fourth largest bank in the US by assets and the second largest bank by market capitalization. In 2007 it was the only bank in the United States to be rated AAA by S&P, though its rating has since been lowered to AA- in light of the financial crisis of 2007–2010. Wells Fargo is the fourth largest bank in the US by assets and the second largest bank by market capitalization.In 2007 it was the only bank in the United States to be rated AAA by S&P, though its rating has since been lowered to AA- in light of the financial crisis of 2007–2010.

Experience: This is the 1st bank I established my accounts with. As soon as I walked in I was greeted by one of their representatives and asked what help I needed. Once this is established, they directed me to the right bank associate. All Wells Fargo banks share this personal service. The atmosphere inside the bank feels warm and comforting eliminating any anxiety you may face regarding finances. Everyone is smiling.

In comparison to CitiBank and Bank of America branches (which I also visited), they both were very corporate, high booth everywhere, felt cold with no Wells Fargo like personal touch – just a line where to line up. Felt like a processing plant.

URL: https://www.wellsfargo.com/

Bank of America

About: Bank of America Corporation is a financial services company, the largest bank holding company in the United States, by assets, and the second largest bank by market capitalization. Also known as BOA – short for Bank of America.

Experience: Very corporate, high booth everywhere, felt cold with no Wells Fargo like personal touch – just a line where to line up. Felt like a processing plant.

URL: https://www.bankofamerica.com/

CitiBank

About: Citibank, a major international bank, is the consumer banking arm of financial services giant Citigroup. Citibank was founded in 1812 as the City Bank of New York, later First National City Bank of New York. As of March 2010, Citigroup is the third largest bank holding company in the United States by domestic deposits, after Bank of America and JP Morgan Chase.

Experience: Very corporate, high booth everywhere, felt cold with no Wells Fargo like personal touch – just a line where to line up. Felt like a processing plant. BOA must be their idol. I setup an account with CitiBank because I have a Credit Card in Australia with Citi. However as soon as I did I realized that their service is just as poor as the one in Australia – I’m surprised that for a bank this size the low understanding of what a good consumer experience is like both offline and online.

URL: http://www.citibank.com/

Technology Credit Union

About: Tech CU is now among the top 1% of the nation’s largest credit unions with ten full service branches in the Silicon Valley. Now with more than $1.3 billion in assets and still growing. Also know as TechCU – short for Technology Credit Union.

Experience: Best way to describe this is a very small-scale of Wells Fargo. There is the personal touch component and also the booths for fast service. They only work with folks in the technology space like software engineers / entrepreneurs. TechCU also takes risks and will give you a loan for a car so that you can start building credit history. This is the bank which I approached after Wells Fargo said no for a car loan.

URL: http://www.techcu.com

If you have any specific questions about these banks please use the comments section below. I typically respond within 48 hours to all questions. If you have other banks which you’ve had experience with or want to add to my experience above please feel free to do so by commenting below.

Happy Banking!

~ Ernest