Lets go over (in my opinion) the worst bank accounts out there and the specifics that make them so unappealing - enjoy! Add me on Instagram: GPStephan
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DISCLAIMER: The views and opinions expressed herein are those of the author and do not necessarily reflect the legitimacy of these companies. Many elements have been exaggerated for comedic effect. Do your own research and come to your own conclusion. This is not financial advice - for entertainment purposes only!
These are all banks that - in my opinion - have too many fees and pay very little in interest compared with other, online banks. Anytime I look for a bank to put my money, I pay close attention to any monthly maintenance fees, cost of sending or receiving wires, how to waive those fees, and the interest I’ll be paid from that account.
Generally, online banks have much less overhead and - because of that - they can pass those savings on to you by paying significantly more in interest. Many of those banks also don’t have as many fees as traditional banks do.
Number 5: Chase Bank
This is disappointing for me to mention, because the Chase Sapphire Reserve is one of my favorite Credit Cards, not to mention that Chase has several of the BEST credit cards currently on the market, all with REALLY good rewards. Chase Bank ALSO holds 2 of my mortgages, and they had INSANELY good interest rate at the time I applied…plus, their Chase Private Client services and perks are phenomenal when you deposit more than $250,000 with them…however, I have to say it…I have to call them out for this, because to me… their actual bank account is just…BAD.
Number 4: Bank of America
In their defense, hey’ve got a REALLY great credit card for people just starting out and building their credit, the Bank Of America Cash Rewards Card. They also have REALLY great mortgage rates…I refinanced one of my properties through them, and they were awesome. And their mobile app is REALLY easy to use, and the entire online interface is AWESOME. But, for me….the friendship ends there, and that’s where the line is drawn.
Number 3: Wells Fargo
Wells Fargo has been one of the only Bank Account I have EVER gone out of my way to cancel. Typically, it’s easy for me to keep $1500 in an account just to keep it open and maintain that relationship with the bank in the event I ever use them for a mortgage…but, nope, this was just SO bad that I couldn’t stand to keep it open.
Number 2: US Bank
Unfortunately, the number of fees - combined with how little they pay you in interest - makes this bank rather unappealing.
Number 1: CitiBank
This is the ONLY OTHER bank that I have gone OUT OF MY WAY TO CANCEL because it was just SO BAD. This is another one that I don’t like to mention…because their Double Cash rewards credit card is AWESOME…but the bank itself, from my experience, is a different story.
Some better options (Not paid to say this, not sponsored - just my opinion):
Ally Bank, no fees, no minimums - 1.7% interest
Marcus by Goldman Sachs - no fees, no minimums, 1.7% interest
CIT Bank, no fees, $1000 minimum, but pays 1.8%
PNC Bank - No fees, no minimums, 1.7% Interest
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
The YouTube Creator Academy:
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://bit.ly/2STxofv $100 OFF WITH CODE 100OFF
Get 2 Free Stocks on WeBull when you deposit $100 (Valued up to $1400): https://act.webull.com/k/Vowbik9Tm5he/main
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
DISCLAIMER: The views and opinions expressed herein are those of the author and do not necessarily reflect the legitimacy of these companies. Many elements have been exaggerated for comedic effect. Do your own research and come to your own conclusion. This is not financial advice - for entertainment purposes only!
These are all banks that - in my opinion - have too many fees and pay very little in interest compared with other, online banks. Anytime I look for a bank to put my money, I pay close attention to any monthly maintenance fees, cost of sending or receiving wires, how to waive those fees, and the interest I’ll be paid from that account.
Generally, online banks have much less overhead and - because of that - they can pass those savings on to you by paying significantly more in interest. Many of those banks also don’t have as many fees as traditional banks do.
Number 5: Chase Bank
This is disappointing for me to mention, because the Chase Sapphire Reserve is one of my favorite Credit Cards, not to mention that Chase has several of the BEST credit cards currently on the market, all with REALLY good rewards. Chase Bank ALSO holds 2 of my mortgages, and they had INSANELY good interest rate at the time I applied…plus, their Chase Private Client services and perks are phenomenal when you deposit more than $250,000 with them…however, I have to say it…I have to call them out for this, because to me… their actual bank account is just…BAD.
Number 4: Bank of America
In their defense, hey’ve got a REALLY great credit card for people just starting out and building their credit, the Bank Of America Cash Rewards Card. They also have REALLY great mortgage rates…I refinanced one of my properties through them, and they were awesome. And their mobile app is REALLY easy to use, and the entire online interface is AWESOME. But, for me….the friendship ends there, and that’s where the line is drawn.
Number 3: Wells Fargo
Wells Fargo has been one of the only Bank Account I have EVER gone out of my way to cancel. Typically, it’s easy for me to keep $1500 in an account just to keep it open and maintain that relationship with the bank in the event I ever use them for a mortgage…but, nope, this was just SO bad that I couldn’t stand to keep it open.
Number 2: US Bank
Unfortunately, the number of fees - combined with how little they pay you in interest - makes this bank rather unappealing.
Number 1: CitiBank
This is the ONLY OTHER bank that I have gone OUT OF MY WAY TO CANCEL because it was just SO BAD. This is another one that I don’t like to mention…because their Double Cash rewards credit card is AWESOME…but the bank itself, from my experience, is a different story.
Some better options (Not paid to say this, not sponsored - just my opinion):
Ally Bank, no fees, no minimums - 1.7% interest
Marcus by Goldman Sachs - no fees, no minimums, 1.7% interest
CIT Bank, no fees, $1000 minimum, but pays 1.8%
PNC Bank - No fees, no minimums, 1.7% Interest
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
Same thing with pnc there online app is trash and
In my experience, Truist is the worst. They declared my national guard payment as a suspicious transaction. They locked up my account and refused to reopen it even after I submitted the documents they requested.
These banks are forced to charge fees so that they can pay 💰 their 🐷 CEO’s FAT bonuses annually!
My account just got closed too with Chase over because some fraud
I really like overdraft service when it comes to banks. The idea of borrowing money and paying it back later with a small fee doesn't bother me. Wells Fargo is terrible for this since they only let you overdraft at their discretion meaning they have to approve the transaction which never happens.
Mrs KIANA is legit and her method works like magic I keep on earning every single week with her new strategy
You mean JP
Morgan Chase?
They'll be standing
strong when other
banks go under.
Just about everybody I know and who I asked why they bank with one of these five always said it's where their parents bank and they had the account since high school. Inertia is a powerful force.
I like how the thumbnail looks very clickbait
Wells Fargo is the worst 😮 run away
That’s why I bank at a Credit Union. Can you do a video like this specifically for Credit Unions?
Listen, idgaf how little interest Chase gives me, or how many fees they have, as I get hit with NO FEES (I direct deposit), ZERO fraud charges ever and I have trust in the institution the way I wouldnt with a shady Wells Fargo. When you are saving a good penny you dont wanna worry that one day thousands will disappear on a whim
CITI now has a hig yield account. Not sure how good it is tho.
Shut up!
The Tenacious D reference is what we are all here for. Great info per usual, thanks Graham!
WF bank had been denying my dispute since 3/6/23 for several claims due to I didn't report within 30days. Bank stopped sending my paper statement in 2021. I claimed at the branch many times and the teller and manager told me to call customer service. They said bank recommend to keep online. But I don't do online and my account is both online and paperstatement. As I didn't receive statement and check for years I discovered when I got penalty notice in 3/6/23. I immediatey reported but they don't pay me back. Employees says all diff things and no help unless an appt. Hard to believe service.
he has had to go out of his way to cancel a bank account more than once even after saying he only did it once
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Kudos for Chase Bank. They offer a free military account with free $50.00 overdraft protection as long as you cover the overdraft within 24 hours.
It's funny how these companies have a bad reputation of worse banks and yet their credit cards are amazing
Bank of America’s overdraft fee is $10.00
These are the only banks in my city💀
It seems that residents of certain States, like Florida and Texas, will not be accepted for a bank account without a previous business relationship with US Bank. Customer service tells me need to apply for and be approved for another product first, like a credit card
Update