Can I Sign California Banking PDF

Can i industry sign banking california pdf myself

[Music] what's up you guys it's Graham here so get ready we're in for quite the video today because so far on this channel I have only covered the best bank accounts out there I'm talking about the banks without any fees offering you nothing but free services giving you signup bonuses and even doing that will paying you a 2% interest rate however I think we've gotten a little spoiled lately because sometimes you don't realize how good we have it until we go into the depths of the underworld to get a slight glimpse into the bad that's right I've scoured through dozens and dozens of banks read pages upon pages of fine print and almost threw up a few times from all of the excessive fees but I have found what I believe to be the five worst bank accounts in existence that should be avoided at all costs now I don't want to warn everyone that this video might be slightly upsetting to some of our more sensitive viewers who don't like excessive fees and don't like losing money because that's exactly what we're gonna be exposing today not to mention all of the hidden fees that took me way too long to find because they love to bury that stuff at the bottom of the page and the fine print and nobody reads that except for me and all I ask in return if you appreciate all of the grueling hours of research and 20 cent iced coffee that went into making a video like this is just a gentle tap of the like button from the YouTube algorithm and also a subscribe if you haven't done that already because I post three videos a week and in each of those videos I asked you to hit the like button so anyway with that said let's begin the video so we're gonna start with the first bank that I really wish was not on this list but I cannot give any bank special treatment just because they like some of their products and that would be Chase Bank so here's why this really pains me to mention and that's because the Chase Sapphire reserved is one of my favorite credit cards of all time not to mention the Chase has some of the best credit cards currently on the market with some really good rewards I also have to my mortgages with Chase Bank and they gave me a really good interest rate at the time I applied not to mention that chase private client is a phenomenal service with a lot of free perks when you have more than two hundred and fifty thousand dollars with them however I gotta say it and I got to call them out for this because to me their actual bank account is just bad I don't even know where to begin so let's just start here if you go and open up a checking account with them they're gonna be giving you the gift that just keeps on giving and that would be a twelve dollar monthly maintenance fee of course like most banks this monthly mate fees waived if you enable direct deposit keep a daily balance of about $1,500 or keep an average balance of $5,000 between this and other linked accounts although what really gets me is that every now and then I'll forget to transfer a little bit of extra money into that Chase Bank checking account to pay my mortgage and it might temporarily drop just below the $1500 requirement well guess what the next day I am hit with a lovely $12 monthly maintenance fee it's almost like Chase Bank just sits there and waits salivating for the moment Mike how temporarily and accidentally drops below $1500 just so that they can swiftly extract $12 more from my account but no it doesn't stop there if you scroll down just a little bit more you'll read that other miscellaneous fees apply click on that and you'll see that that includes a two dollar and fifty cent ATM fee within the u.s. for any non chase ATMs a $34 overdraft fee a $35 wire transfer fee if you want to send money out a $15.00 wire transfer fee from money coming in a $30 stop payment request on checks $8 per cashier's check and $2.00 per page if you want additional checks printed at the branch but no that's not even the worst part it's the interest or lack thereof here's how bad it is let's start with your checking account in addition to the monthly maintenance fee of $12 you will be enjoying the interest rate of wait a second I can't seem to find it shown anywhere on their main page I wonder why wait a second that's because on their basic checking account they don't even give you an interest okay got it in order to get any interest at all you need to join their premier plus checking oh so fancy now in order to upgrade yourself to this elite level you're either going to need to pay a $25 monthly maintenance fee or keep $15,000 or more in your accounts or have a link to chase mortgage enrolled in automatic payments from your chase account oh and you're also going to be able to earn actual interest so let's see how great this is if you moments later okay so you can earn 0.01% regardless of how much money you have now just to put that into perspective if you have $10,000 sitting in the account you're going to be earning 83 cents per month in interest honestly I think you're better off just walking around the streets picking up loose change at that point though surely their savings accounts are gonna be a lot better than this right no wrong now to start for the monthly maintenance we have five dollars per month on their savings accounts you actually get the privilege of earning interest now obviously there are some simple ways to get around that five dollars a month let's see just how much money Chase Bank is gonna be paying you for a savings account oh so it's the exact same as the checking account got it so now let's step it up a little bit and say that you want to be a big baller and either spend twenty five dollars a month as a maintenance fee or keep fifteen thousand dollars in combined account balances you can enjoy the relationship rates nice although I got to admit that's a pretty bad relationship like to me this is the type of relationship you want to leave immediately because there are so many red flags like getting 0.09 percent in interest if you have more than two hundred and fifty thousand dollars come on for a quarter million dollars you should be calling me up every morning wishing me a great day at the office not slapping me in the face with 0.09 percent interest anyway I think it's safe to say that for me Chase Bank is pretty disappointing and I wish I didn't have to say that because they do have some really great services and features out there with their credit cards and their mortgages it's just I feel like their bank account itself to me is lacking and unfortunately it does get worse than this now this is yet another one I wish I didn't have to include in this video but I got to give you my honest opinion I can't play favorites here and that would be Bank of America now in their defense they do have a very great credit card for people just starting out and building their credit and that would be the Bank of America cash rewards card they also have really great mortgage rates I were financed one of my properties through them and they were nothing but spectacular and one more thing I want to mention before I absolutely roast them is that their mobile app is really easy to use and their online website it's just a phenomenal user interface that is very easy to use but for me the friendship ends there and this is where I draw the line now just like Jays Bank it's really difficult to find all of the fees until you start digging below the surface because they love to wow you with colorful images happy people people sitting in really uncomfortable positions with a dude drink mccann that's obviously diet coke but they photoshop the logo out and they maybe hope that that will potentially distract you from noticing the $12 monthly maintenance fee now of course this is waived if you're a qualifying student under the age of 24 enable direct deposit maintain the minimum $1500 daily balance or if you enroll in preferred rewards which I will get into momentarily but let's talk about the fees which I think what you find will haunt you in your dreams forever you'll find a $35 overdraft fee a $30 wire transfer fee a $15.00 incoming wire transfer fee and a $15.00 cashier's check fee unless you are a preferred rewards customer or higher and even though they have a whole bunch of random fees on top of other random fees at least those are waived if you become a preferred rewards customer so that makes it just slightly better until you see the interest rates let's start here your normal checking account the one you're going to be using all the time pays no interest sorry to be the bearer of bad news but if you want to earn some of that sweet sweet interest you'll need to sign up for their Bank of America interest checking account but alas something as glamorous as that does not come without a price and that price is either $25 a month or a combined balance of $10,000 or more however I couldn't find anything on their website about how much they actually pay an interest besides this business checking account that pays 0.01% on all balances so let's move on to the savings accounts because this is where things get interesting the regular savings account pays you a whopping 0.03 percent interest but then let's say you got $20,000 to throw around then you can join their preferred rewards ooh and that means you could be a gold tier member that will give you 0.04 percent interest up to $50,000 and if you have more than $50,000 you could join their platinum tier which gets you 0.05 percent in interest and then if you have more than $100,000 you could join their platinum honors tier and get 0.06 percent in interest needless to say Bank of America is really great if your students use their credit card neat and easy to navigate websites and app and also want to scream every single night and all of those excessive fees but in terms of the actual bank account to me it's an absolute disaster but it still gets worse than this because that brings us to Wells Fargo and there's certainly no stranger to controversy over the last few years now full transparency here not that I'm bitter or anything like that but Wells Fargo has been one of the only bank accounts I have ever gone out of my way to go and cancel so you typically it's easy for me to keep $1,500 in an account just to keep it open and maintain that relationship with the bank in the event I ever want to get a mortgage with them but nope this one was just so bad that I could not keep it open let's begin with the checking accounts and I love on their website that they advertise you can open up an account with $25 seems easy right after all that is their most popular option except when you see that comes with the $10 monthly maintenance fee unless you make 10 or more debit transactions have qualified direct deposits totaling $500 or keep $1,500 minimum in the account which means if you don't read the fine print and only deposit 225 dollars that is going to be gone and two and a half months just from the fees and then afterwards if you forget about it and forget to deposit more money in the account you're gonna be hit with a $35 overdraft fee meaning you're $25 initial deposit has now turned into a negative $30 balance by month 3 but on the bright side I do have to hand it to Wells Fargo they did make these fees very apparent right on the front page instead of making me scroll through the entire website trying to find it so for that Wells Fargo you get a thumbs up for the YouTube algorithm besides that though while we're on this fine print page you'll enjoy a lovely $15 wire transfer fee for incoming money a $30 wire transfer fee for outgoing wires a $10 fee for cashier's checks and yeah a lot of other fees all without paying any interest but now let's say you're too good for the regular checking account and you have $10,000 and you want to join the preferred checking account that means you can enjoy no fees on cashier's checks a $10 discount on personal style checks and 0.01 percent interest on all balances above $500 yikes but now of course I'm sure you're asking yourself but great I don't have $10,000 to join me preferred checking how can I still do this if I don't have $10,000 well I had some good news because you're in luck that is only going to be costing you $15 a month you'll even get a platinum debit card with chip technology Wow even though that comes standard on pretty much every single debit card ever these days that's that's amazing that they include that for $15 a month or $10,000 but now we're gonna be discussing the top tier of Wells Fargo the best of the best as good as it gets the portfolio checking account oh sure there's a $30 monthly maintenance fee or you need to keep $25,000 or more in your accounts but of course like they say they do give you back favorable interest rates which I guess is open to interpretation because their idea of favorable interest rates is paying 0.05% on balances above $5,000 and of course they reserve their best features for those who keep 250,000 dollars or more in qualifying balances and that includes no overdraft protection transfer fees except I'm reading that and the first thing I could think of is does someone actually need overdraft protection if they have two hundred and fifty thousand dollars sitting in their bank account like you're not over drafting on anything if you got a quarter million dollars sitting in your bank account unless of course your custom Ferrari had too many options and it came to two hundred and fifty one thousand dollars oops stuff like that happen so maybe actually this is a pretty useful feature anyway this Bank to me takes the number three spots because the way I see it their interest rates are just absolutely horrendous but also you get a bank that's settled five hundred and seventy million dollars for creating fake accounts but that's none of my business then we have another one that just gets a little bit more absurd and that would be US Bank not to mention it looks like their website hasn't really been updated for at least a decade or two now to start you have a few options if you want to bank with US Bank and that begins with this easy checking account for $6.95 a month but if you want to waive that you'll need direct deposits totaling $1,000 or more or the usual $1,500 minimum account balance and then they love to hit you with that additional $2 a month paper statement fee which I have a feeling a lot of people might just forget to enroll in statements which would waive that fee and then just never get around to noticing that $2 monthly charge doesn't really sound all that easy to me no does it now in addition to that you'll also have a $36 overdraft fee which is higher than anything else that I mentioned in this video they've also got a $20 wire transfer fee for incoming wires and a $30 wire fee for outgoing wires now in terms of the interest you're gonna get for all of these fees what interest no seriously though their checking account pays nothing and to their standard savings account pays you 0.01% interest on all balances but the good news is that for $14.95 a month or if you open up a u.s. bank personal loan or credit card you can enjoy a savings account that pays you a whopping 0.04 percent all the way up to zero point zero seven percent if you have more than $500,000 okay now that's kind of high but if you have the Platinum checking account meaning you have more than $25,000 available or pay $24.95 per month you'll get a whopping wait wait a second it's still only a 0.01% in interest okay fine but at least you can open up a retirement money market savings where you can earn all the way up to 0.6% I think it's pretty safe to assume you're never going to be retiring off of 0.6% though I don't get why anyone would go and do this but it still gets worse than this if you could believe it and that brings us to this next one this is the only other bank that I have gone out of my way to cancel because it was so awful and that would be to me Citibank now this is another one I wish I did not have to mention because I'm really a fan of the city double cash rewards credit card but besides that in terms of the actual bank itself Wow now let me just say this one upfront one of the many reasons why I cancelled and why I think this one is so bad is because the mobile deposit limit is $1,000 a day now y u might think to yourself gram $1,000 is a lot of money you're out of touch with reality well yeah I guess maybe a little bit but this is an issue when you use this bank to deposit rent checks into or any single check that is above $1,000 including a paycheck you just can't do it you literally have to walk into a physical citibank branch location to deposit any check over $1,000 regardless of what or when it is even if you deposit only one check a month for 1,001 dollars you can't do it from your phone so with that I was out but it also did not stop there because if you go and open the regular checking account you'll enjoy the typical twelve dollar monthly maintenance fee that's waves when you keep more than $1,500 in your account you'll also have the typical fifteen dollar incoming wire fee $35 outgoing wire fee and standard fees for a bank that's featured in this video but here's where Citibank takes a turn for the worst and this is with their interest rate with their normal checking accounts you'll get an interest rate of 0.01% and with the regular savings account you'll enjoy an interest rate of up to 0.13% in interest when you deposit more than $500,000 but then if you have priority savings which means you have $50,000 or more between all eligible accounts you'll get to earn 0.03 percent interest in your checking account and 0.15 percent in interest when you have more than $500,000 in their savings account but things do get better because if you're a city gold client which means you have more than $200,000 across your bank and investment accounts you'll get the same 0.03 percent interest in your checking account and up to the same 0.15 percent interest for $500,000 or more but on the bright side at least you'll get financial guidance from a wealth adviser and you'll get $2.00 and 95 cent equity trades yes I think someone should really bring them up to speed to today and tell them that free stock trading is a thing just look at Robin Hood or weeble or even Charles Schwab like there's no need anymore to pay 2 dollars and 95 cents but anyway if you're that good with money that you've saved up two hundred thousand dollars I personally don't really think you need financial guidance all you really need to do instead is smash the like button for the YouTube algorithm because this video took me forever to plan out in film so anyway there you have it I hate to be the bearer of bad news it just gets me so upset to see all of these fees and why people are still using these banks right now is just beyond my comprehension oh sure some of these banks are convenient like I get it for people who like walking into a physical branch and Bank of America's and Chase banks are pretty much on every street corner but in terms of actually being a financially responsible adults there are way better options out there in my opinion not financial advice like I can make another video in the future covering the top 5 best bank accounts out there and these are just a few to name some off you got a lie bank no fees no minimums 1.7 percent interest Marcos by Goldman Sachs no fees no minimums also 1.7 percent Interest CIT Bank no fees $1000 minimum but pays 1.8 percent interest and you get the idea I'm going to be covering some of these other ones in the future so anyway with that said you guys thank you so much for watching I really appreciate it as always if you have not already subscribed make sure to demolish the subscribe button notification bell so YouTube notifies you anytime I post a video also feel free to add me on Instagram I post there pretty much daily so if you want to be a part of it there feel free to add me there also on my second channel the Graham Stefan show I post there every single day I'm not posting here so if you want to see a brand new video for me every single day just go and add yourself to that and finally if you guys want to free stocks wiebel is holding a promotion they will give you two free stocks when you deposit $100 on their platform one of those stocks is going to be valued up to $1400 so if you want to have a chance to get a stock valued up to that amount make sure to use the link down below in the description sign up and enjoy your two free stocks thank you so much for watching and until next time