Guess I'll be switching banks. Anyone use First Niagara?

[kranky]

The bank I've used for 20 years merged one too many times to suit the government, and they said some branches have to be sold to another bank from outside the area. Today they announced the buyer is First Niagara bank from NY state. Just looked at their offerings and whoa... they stink compared to other banks in the area. The savings rates are not listed on their site (not a good sign IMO). Many of the perks I get with my current checking account won't be there any more and they have no comparable account type.

The day they announced the list of branches to be sold (which included most of the ones near me), I called to have my accounts transferred to another branch that wouldn't be sold. They said they can't do that (government rules) and I would have to close all my accounts first, then go sign up for everything again. I didn't want to lose my HELOC at prime-1% (bottoms out at 3%) or my CD at 4.5% so I didn't cancel. I will still keep those at the new bank but move my checking and savings to a more competitive bank or credit union.

I will miss my short 7-digit account number that never changed through 4 bank mergers and the perks I get now. Now it's off to research other bank options in town.

 

[SirChadwick]

I use First Nigeria. Send me your CC info and I'll get you a referral.

 

[JulesMaximus]

Originally posted by: SirChadwick
I use First Nigeria. Send me your CC info and I'll get you a referral.

Damn you...I was going to post that. :laugh:

 

[lxskllr]

If you can get in one, credit unions are the way to go.

 

[mugs]

Originally posted by: kranky
I will miss my short 7-digit account number that never changed through 4 bank mergers and the perks I get now. Now it's off to research other bank options in town.

It wasn't until PNC bought my bank that I finally lost my 7 digit account number. 🙁 I still haven't memorized the new one... I don't use it often enough.

What perks are you looking for on the checking account?

 

[kranky]

Originally posted by: mugs

Originally posted by: kranky
I will miss my short 7-digit account number that never changed through 4 bank mergers and the perks I get now. Now it's off to research other bank options in town.

It wasn't until PNC bought my bank that I finally lost my 7 digit account number. 🙁 I still haven't memorized the new one... I don't use it often enough.

What perks are you looking for on the checking account?

Heh, PNC bought my old bank (National City) but my branch along with my accounts were sold to First Niagara.

I have three different credit union accounts but none of them really can match a big bank for checking account features.

My existing account has free safe deposit box, free checks, free cashier's checks, $2 rebate every time I use a foreign ATM, online bill pay for anyone, and pays 1% interest. And the key factor for me is no required number of debit card transactions in order to qualify for account perks.

What I will really miss is the $2 rebate for using a foreign ATM. The ATM I use most often doesn't charge me a fee and I still get the $2! If I take out $50 it's like getting a 4% bonus on my withdrawal. I don't abuse it though, 5-6 a month at most.

 

[SunnyD]

First Viagra sucks. Their fee schedule is horrible. They fucked me over and put me in collections twice due to rearranging transactions within 3 months. The second time around I told them to suck it and when to Chase while I was in NY. Had an account with Chase for a couple years without any issues, then moved out of NY. When I moved back, went with Bank of America, and kept them along with a local credit union when I moved to AL.

 

[Cattlegod]

haha totally read this as First Nigeria

 

[vshah]

Originally posted by: SirChadwick
I use First Nigeria. Send me your CC info and I'll get you a referral.

damn you...was gonna post that

edit: i am very slow

 

[palswim]

Originally posted by: SirChadwick
I use First Nigeria. Send me your CC info and I'll get you a referral.

Yeah, I thought along those lines, too, but you said it both better and faster than I did!

 

[cirrrocco]

Damm , I misread that as first Viagra

 

[Hacp]

So much fail here.

 

[kranky]

So a First Niagara rep in today's paper says they expect to lose 25-35% of the deposits when they take over because they will be lowering the rates they pay to be more in line with what other area banks are paying. The paper said generally banks expect to lose 10-20% of customer deposits after a merger.

My feeling is if the norm is 10-20% and they predict 25-35%, it will end up more like 40%. They'll keep the customers who don't have any other bank nearby, but there are branches of 8 different banks within 3 miles of my home, plus a credit union I belong to.

 

[sao123]

I havent been able to find out yet if my account is in a branch being sold to First Niagara...

if it is, i will be closing it and doing a promt return to the national city which isnt being sold.
i have nothing but a checking and savings there... so ihvae nothing to lose by changing...

I hope.
:brokenheart:

 

[Leros]

My conclusion from this thread is that First Niagara is a terrible name.

 

[Jeffg010]

Originally posted by: sao123
I havent been able to find out yet if my account is in a branch being sold to First Niagara...

if it is, i will be closing it and doing a promt return to the national city which isnt being sold.
i have nothing but a checking and savings there... so ihvae nothing to lose by changing...

I hope.
:brokenheart:

What you talking about? PNC bought national city if they are still using national city's name it is PNC.

 

[vshah]

Originally posted by: Leros
My conclusion from this thread is that First Niagara is a terrible name.

better than "fifth third bank" wtf is that?

 

[sao123]

Originally posted by: Jeffg010

Originally posted by: sao123
I havent been able to find out yet if my account is in a branch being sold to First Niagara...

if it is, i will be closing it and doing a promt return to the national city which isnt being sold.
i have nothing but a checking and savings there... so ihvae nothing to lose by changing...

I hope.
:brokenheart:

What you talking about? PNC bought national city if they are still using national city's name it is PNC.

PNC told to sell 61 National City branches

 

[kranky]

Originally posted by: sao123
I havent been able to find out yet if my account is in a branch being sold to First Niagara...

if it is, i will be closing it and doing a promt return to the national city which isnt being sold.
i have nothing but a checking and savings there... so ihvae nothing to lose by changing...

I hope.
:brokenheart:

List of branches being sold. (PDF)

 

[kranky]

It's been a comedy so far.

They sent a letter with instructions on how to get replacement checks free of charge. There were 2 ordering options - web or phone. Tried the web, wouldn't accept my login they gave me. Tried the phone, they had no idea what I was talking about. I said I had the letter in my hand with the instructions and they said I should go to the bank after "transition day" (Sept. 4).

Then another letter arrived saying the first letter was a mistake and should not have been sent to me because it was only for business account holders. They enclosed a $1 bill by way of apology. It explained I can still get free checks but not until September 4, but they will send me 50 "starter" checks in the meantime.

Then I got a big fancy brochure in the mail that explained how the old bank's account types will be transitioned to the new bank. It was 30 pages long and it still wasn't clear.

Then I got another big fancy brochure in the mail that explained how business accounts will be transitioned. I don't have a business account.

The only bright spot so far is finding out my account number won't change.

 

[Gothgar]

my bank just fucking closed


Guarantee Bank, I guess they can't guarantee that they aren't closing...