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Author Topic: Banking options  (Read 2134 times)

tjc59

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Banking options
« on: September 16, 2013, 09:18:44 pm »

Prospective FSP participant here. I am looking to maybe change banks (currently living in Kansas City, MO), and thought I would inquire about the various nationally-operating banks available in NH. I figure if I could find a bank with locations both here in KC and in NH, it would make the transition that much smoother. I managed to find some old posts about this here on the FSP forum, but many of the posts were over 10 years old, and half the banks mentioned are no longer in business. When I do eventually make the move, I think I will probably end up in Manchester.

The main reason I am asking is that I am in the process of opening a HSA, and I'd really like to only have to deal with this process once. I'm not so much concerned about the transition with my checking and savings accounts, I figure any local bank will do. If anyone has any recommendations on banks that offer HSAs, it would be greatly appreciated (I should also mention that I would like to avoid the TBTF bailout banks like Bank of America, Citibank, etc. at all costs).
« Last Edit: September 17, 2013, 07:00:30 am by tjc59 »
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time4liberty

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Re: Banking options
« Reply #1 on: September 17, 2013, 09:30:00 am »

Prospective FSP participant here. I am looking to maybe change banks (currently living in Kansas City, MO),

Welcome! :) -- Can you bring OK Joe's with you? ;D Tell them to open a branch here.

and thought I would inquire about the various nationally-operating banks available in NH. I figure if I could find a bank with locations both here in KC and in NH, it would make the transition that much smoother. I managed to find some old posts about this here on the FSP forum, but many of the posts were over 10 years old, and half the banks mentioned are no longer in business. When I do eventually make the move, I think I will probably end up in Manchester.

The main reason I am asking is that I am in the process of opening a HSA, and I'd really like to only have to deal with this process once. I'm not so much concerned about the transition with my checking and savings accounts, I figure any local bank will do. If anyone has any recommendations on banks that offer HSAs, it would be greatly appreciated (I should also mention that I would like to avoid the TBTF bailout banks like Bank of America, Citibank, etc. at all costs).

I can't help you with HSAs, or national banks, though I'm sure someone else can.

For what it's worth, my wife and I use a local credit union (Bellwether), and have had a great experience. You can use any CU ATM in the country -- but they don't offer HSAs. St. Mary's is another well known CU here (the oldest in the country, actually), but I couldn't tell from their website whether they offer HSAs.
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Matt Clem

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Re: Banking options
« Reply #2 on: September 17, 2013, 10:32:03 am »

Welcome to the forum my friend!

I've done a little bit of research on it and I can't seem to find any bank in NH that offers HSA's that isn't a larger one. I understand your veiws on the TBTF banks and those that accepted bail outs, I share them (I currently work for the largest bank based out of VA).

However, as sad as it seems, I don't think their is a bank that exists that didn't take the bail out money. I know this one did. As well, I believe everything given out to financial institutions under TARP has been paid back (not sure about the countless trillions in liquid injections by the FED, but thats another complaint.) Either way, paid back or not, its hard to find a bank that really isn't a product of Federal Reserve monetary expansion and Congressional oversight. Its very sad.

Credit Unions, I don't know about.
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Government is the great fiction through which everyone attempts to live at the expense of everyone else.  ~ Frederic Bastiat

greap

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Re: Banking options
« Reply #3 on: September 17, 2013, 12:07:39 pm »

Although its only New England Digital Credit Union is very good and also offers HSA options.

As a small aside if you are opening a HSA as part of a HDHP then keep in mind many group policies require you to use a specific bank for your HSA, if you move here and find a job then you may not be able to use your current HSA with their HDHP insurance option.
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tjc59

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Re: Banking options
« Reply #4 on: September 17, 2013, 11:02:40 pm »

However, as sad as it seems, I don't think their is a bank that exists that didn't take the bail out money. I know this one did. As well, I believe everything given out to financial institutions under TARP has been paid back (not sure about the countless trillions in liquid injections by the FED, but thats another complaint.) Either way, paid back or not, its hard to find a bank that really isn't a product of Federal Reserve monetary expansion and Congressional oversight. Its very sad.

I understand about most all banks taking bailout money, although I would argue that many were basically forced to against their will (there was a pretty good interview with BB&T's John Allison a year or two ago on John Stossel's show that touched on this). Banks that took bailout money isn't necessarily what I am trying to avoid, it's the massive, unstable national banks like BofA and Citibank that will likely fail again that I am trying to avoid.

Anyway, it's moot now anyway; I decided to open my HSA with HSAbank.com. And I'll just wait and bank with a local bank for my checking/savings once I make the move. Thanks for all the responses!

And yes, I will miss all the great BBQ here in KC!
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