Banking on the Road

loringsontheroad · Feb 22, 2010

My husband and I are planning 2011 to go fulltiming for approx one year as a trial period. We plan/hope to workamp during that time. I do a lot of my banking online these days, which will make things easier when on the road - but I wondered - if you workamped and received payment by check - or if I needed to cash a check - what do most of you do? I have been looking to set up an account with a bank that has branches throughout the country (Bank of America?) Just curious.
Thanks - Ei

geodrake · Feb 22, 2010

We bank electronically; monthly checks are direct deposited, bills are paid via on-line banking, and cash is obtained via ATMs. Pretty much all purchases, even including things like McDonald's, are purchased via a credit card.

The only real pain is depositing a check. Few banks will cash a check unless you have an account with them, or the check was written on their bank. We don't run into this often, but when we do we just endorse the check as "For Deposit Only - Account XXXXXXXXXXXX" and mail it to our bank.

I review bank accounts and credit card purchases on line every few days, just to be sure everything is copacetic.

Ned · Feb 22, 2010

We have our checking with Wells Fargo that has branches and ATMs in most parts of the country, more in the west, fewer in the east. We use the ATMs for deposits and avoid mailing checks whenever possible. You can also get cash from an ATM, of course.

The merger of Wells Fargo and Wachovia makes more branches and ATMs available, but the Wachovia ATMs can't take Wells Fargo deposits yet.

SideRoads · Feb 22, 2010

Check USAA if prior military,,,,,,,,I deposit all checks from my home computer,,,no mail,,,,no hassle....works great...............Used BOA for over 3 years while FT,,,worked well,,,,,,goood customer service,,,,but rates continued to get lower and lower and lower,,,,,,,,,USAA provides higher rates,,,,,,,,,,

Also with USAA I can use any ATM,,,,,,they reimburse any ATM fee monthly up to a total of $15

The only thing I can't do online with USAA is make a cash deposit..........

Ned · Feb 22, 2010

I deposit all checks from my home computer

How do you deposit a printed check via computer?

geodrake · Feb 22, 2010

Ned said:
How do you deposit a printed check via computer?

Check (no pun intended) it out Ned. Interesting!
https://www.usaa.com/inet/ent_utils/McStaticPages?key=no_fee_checking_main&offerName=pubHome_ProdBckt_2_071909_FreeChecking_BranchlessBanking

SideRoads · Feb 22, 2010

On the USAA website,,,,,I use their Deposit@home software, endorse the check, scan both sides, USAA confirms readability and deposits the amount immediately to the account....

Once I get confirmation,,,,I write Void on the front of the check and file it.......

The only online deposit I can't do are money orders and foreign checks,,,,,,,couple other types....none that I would use anyway.

I can also deposit checks using my cell phone camera....... It is the neatest thing around...

https://www.usaa.com/inet/ent_utils/McStaticPages?key=bank_deposit

bigskymt · Feb 22, 2010

SideRoads: USAA discloses they are not FDIC Insured. There is some confusion if that applies to all deposits or just investments. Have you heard this?
We were forced to Wells Fargo after the Interstate takeover. Although their rates are low we have no complaints on locations, customer service (call center) or dependability. We rarely use on-line banking as branches or ATMs are always nearby. We travel mostly west of the Mississippi.

Ned · Feb 22, 2010

Now THAT is a very nice innovation. If we could do that with WF, it save a 40 mile round trip to the nearest WF branch or ATM.

SideRoads · Feb 22, 2010

USAA accounts are FDIC insured...

.Are My Bank Accounts FDIC Insured?
Logon required.
Deposit accounts are insured by the Federal Deposit Insurance Corporation (FDIC

SideRoads · Feb 22, 2010

When USAA changed eligibility to having military service vs retired military, I jumped on it.....Their cd rates were over 2x that of BOA,,,,and their other products are great....

Anyway they have a high customer satisfaction rating.........

Jammer · Feb 22, 2010

For deposits, there are a number of banks that will set you up with a remote check reader that can be used to scan checks and deposit them electronically.

Otherwise, every bank I've ever used would accept any deposit that is mailed in. It just takes a few extra days for the mail and processing. Right now I use ING Direct and E*Trade and they both accept deposits by mail, and have excellent on-line banking facilities and bill payment provisions.

Ned · Feb 22, 2010

We don't trust the USPS to handle important documents like money. ATM deposits show up in our account the next morning while mailed checks may take up to a week or more just to get to the bank. We use postal mail as little as possible and only when there is no other alternative.

loringsontheroad · Feb 22, 2010

Gee - thanks for the great feedback. I have heard of making deposits via scan. I was also considering Wells Fargo too - since I knew they were well spaced nationally. You have given me some great info - thanks. I want to set up an account for us now and start putting some money in it gradually, to put aside for the trip.
Thank you everyone - you are all so knowledgeable and forthcoming - it is truly appreciated!

SideRoads · Feb 22, 2010

Ned said:
We don't trust the USPS to handle important documents like money. ATM deposits show up in our account the next morning while mailed checks may take up to a week or more just to get to the bank. We use postal mail as little as possible and only when there is no other alternative.

BINGOOOOOOO,,,,,,,,,I was fed agent, and had many conversations with PI's...etc.....after retirement,,,,I started having mail problems,,,,checks lost,,,,etc........Went to have discussion with Postmaster,,,,,,,did not indicate any prior LE,,,just as customer,,,,,,,,,,,,,their reaction was ICGAS,,,,,,,,,,,,,,,,,he asked me if I wanted number to PI,,,I told him, I could get it, if I needed it.........I use FEDEX,,,the only time I use USPS,,,,is if someone else sends me something and I have no contol over it....As far as I am concerned the USPS can go belly-up,,,,,,,and it would lower the annual bailout costs......

So how do I really feel,,,I have met some fine postal employees over the years,,,,,but like everywhere else the USPS has their 30percent,,,,vs ten percent......jmho, and experience with the USPS.

BernieD · Feb 22, 2010

Sideroads

I thought I had a pretty good handle on acronyms, but you overwhelmed me. Please define:
PI (postal investigator?)
LE
ICGAS

Tom · Feb 22, 2010

Bernie,

I'm only a half step ahead of you; I figured that PI = Postal Inspector.

Jim Dick · Feb 22, 2010

I think I also got the LE---Law Enforcement. Certainly can't figure out the last one! ;D

Ned · Feb 22, 2010

Bernie,

I believe you have PI right, LE is Law Enforcement, but ICGAS sounds like a medical problem

The plethora of commas is confusing too.

SideRoads · Feb 22, 2010

BernieD said:
Sideroads

I thought I had a pretty good handle on acronyms, but you overwhelmed me. Please define:
PI (postal investigator?)
LE
ICGAS

Law Enforcement and I Could Give a Schucks ,,,,,you know the real sincere attitudinal display some folks catch as a disease. ;D

Oh for PI is Postal Inspector.,,,Sorry,,,some habits are hard to break.

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