Diane Trout (alienghic) wrote,
Diane Trout
alienghic

Banks

My girlfriend and I have reached the point where we should have some mingled finances. But I keep getting stuck on picking a bank to use. I have accounts at Wells Fargo, HSBC, and the credit union at my work. She has an account at Washington Mutual.

WaMu's stock price last 90% of its value over the past 9 months as it appears that of nationwide banks they were the third most invested in the subprime mortgages. The market analysts I've ssen suggest they're at risk, but still could recover.

Wells Fargo's stock price appears to be down about 15% over the past year, the people on google finance consider them to be one of the most conservatively run banks.

And for us Wells Fargo might be the most convenient, they have a branch relatively close. Also, of all the banks I've used they're website reports data the fastest. I've seen (pending) transactions from my debit card show up the same day.

HSBC's stock price is down ~21%, the US branch did try to get into the sub-prime mortgages, but they were both late to the show, and after things went south in the sub-prime market, their London High Street masters did some cleaning up of HSBC US management.

HSBC is really really slow at resolving transfers, taking a couple of days for even something as simple as checking account to credit card.

HSBC's strength is because they're a large multinational bank, their total assets are about 2.3 trillion and 20% profit margin vs Wells Fargo's $600 billion and 15% profit margin. (Washington Mutual's current net profit margin is -115%)

So does anyone have any thoughts about what a good bank is these days?
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  • Guild Wars 2

    I started playing Guild Wars 2, and am happy their questing system has broken with WoW's current quest design. As WoW grew they "simplified" and…

  • calendar.

    Its been a really long time since I tried to write. I keep meaning to roll my own blog software, but there's so many other things I should be doing.…

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    I'm surprised this seems to have gotten valid debian packages with a minimum of fuss for a package where I couldn't find a recommended release…