Replies

1. 
   dustinf | Jul 24, 2005 09:44pm | #1

   I'd say it depends.

   I prefer to deal with a small bank.  One or two locations only.  I just feel more comfortable with the situation.  Most big banks, you are nothing but an average daily balance, and credit score.

   With my bank, privately owned, one location.  I have built an ongoing relationship with the manager.  When I need to borrow money, or increase a credit line, I call him, and he doesn't give me any grief. 

1. 
   Don | Jul 24, 2005 10:15pm | #2

   Exactly what we have in our local bank. You cannot beat the service & especially the special treatment when we need something a bit out of the ordinary. In our case, it's not the president or the bank manager, but one of the VP's, a woman who started out as a secretary over 20 yrs ago. DonThe GlassMasterworks - If it scratches, I etch it!

2. 
   ponytl | Jul 25, 2005 04:34am | #3

   my bank just was taken over and everyone i ever dealt with is now gone... I'd almoet rather lose a wife than a banker that knows and trusts me...

   but to your question... for years i went along do'n ok... had a few businesses...owned some property...  then i spent some time with a friends dad down on his boat in ft lauderdale... he had owned a bank and was now kinda retired I think he was 51 or 53 at the time... he asked me "how much money i owed the bank"  told him None... i had a 20k line of credit i used sometimes only to pay invoice that i got 2% off of for pay'n in 10 days... seeing as i got paid in 30... i'd use that money for 20days... A. it made me a few $$ and B. suppilers love people that pay fast...  thought i was pretty smart...

   then he explained that if you owe the bank 100-200k and don't pay em... they will come and take your stuff.... BUT if you owe em 3-4million and can't pay... they will take you to lunch and try to work something out with you...  He went on to explain to me about money... credit and banks... He is one of those guys that if he tells you the table is about to fly... you just pull your chair back to give it room... when he speaks.. I listen...

   The bank to use if you are new... is a NEW BANK maybe just one Location... if their fees are a little higher and if you pay an extra 1/4 point here and there it really doesn't matter... what matters is the relationship.. make sure you meet the main guy/guys/women... make a point to know their name and make it a point for them to know yours... go in the bank as often as you can... speak to everyone... and drop off candy/ nuts... ect... at christmas... What this does is puts a face with an account... people deal with people they know... and it's alot harder to say no to someone you like/see/trust... for your part... alway do what you say... if you have any loans let they set em up as auto-pay... do all your banking there and refer others... never bounce a check and always keep money in your account... keep a current financial statement and make sure they have a copy on file...  Now this "New" bank is prob just being started up to be sold out in a few years and they need you to add value to the bank so you need to borrow money from them and keep your payment current... (this is a prime way banks are valued when they are being sold ie.. the amount of performing loans...)

   all in all don't sweat the small charges... chances are they still  lose money on the fees.. (someone talkes to a teller for 15min while cash'n a check) if they are a little higher on their interest if it's a 1/4 point don't sweat it... maybe let em know you don't mind pay'n extra to deal with people you know...  "dance with the one that brung ya" loyalty can go a long way...

   P

   i started out with nothing

   and have most of it left

1. 
   SamT | Jul 26, 2005 02:24am | #4

   ponytl.

   I shouldna rad this rite npw.

   Now I gotta bump it so it won't fall off the radar.

   SamT

1. 
   DanT | Jul 30, 2005 01:49pm | #5

   I used to have a "relationship" with my bankers.  Then they were bought out.  So I built a "relationship" with another local bank.  And they grew aggresively and changed people so often I no longer knew anyone there. 

   I then tried to work with a branch of a big bank.  They roll managers over there at the rate of one every 6 months. 

   I gave up.  I go where I can get free checking, use a mortage broker and shop for the best deal.  Just like I don't want my customers to do to me.  Sucks.  Banking has changed from the days where you could build a reputation with someone in the bank and command some flexability based on your character.  So now I feel as though banking is a step above eating at Mc Donalds.  DanT

1. 
   SamT | Jul 30, 2005 04:56pm | #6

   Dan,

   Thanks for posting.

    

    

    

    

    

   I think(|:>)

   SamT