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Is anyone leaving Chevy Chase Bank (Capital One)?
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Anonymous
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I'm contemplating leaving Chevy Chase Bank (now Capital One) who I have banked with for over 10 years.
I see now that they are gradually eliminating the Chevy Chase Bank name and switching over to Capital One. My guess is that in a matter of weeks or months, we will see no remnant of the Chevy Chase Bank name. I simply do not like the idea of a big credit card company being my bank. Just curious what others are thinking and ideas for alternatives. |
Anonymous
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No way. They have way more ATMs than anyone else and branches everywhere. I’ve been in Front Royal once and needed an emergency cashiers check and found a CC bank right away. You can't run from every Merger and Acquisition in the banking/credit industry, you'd be switching every day, the industry is consolidating.
Honestly, who cares if it is owned by a credit card company? Aren’t all banks now in the business of extending credit via revolving cards? I get credit offers in the mail from Bank of America just about weekly and I’m not even a customer of theirs. You’d have to go with a super small community bank to avoid that. I avoid it by not carrying credit cards. |
Anonymous
| Im waiting to see if the interest rates change any and the fees. Right now the savings interest is nothing - literally might as well be in a young savers. It is pathetic. |
Anonymous
That is everywhere. It is not a Chevy Chase thing, but an economy thing. This is what happens when interst rates are at historical lows. The dollar is sinking daily, so your savings is even smaller than what it appears. |
Anonymous
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I'm not sure if I'll be staying or leaving. As far as alternatives, there are a TON!
We do some banking online with ING, and if you're a USAA member, they're always a good option. Is BB&T a local bank? |
Anonymous
| We are chevy chase bank now and like best the atm's. It isn't so much the cash getting out as much as the convenience of depositing checks. We have schwab and they reimburse atm fees so we keep consider that. also when we pay our nanny with a check she can cash the check easily versus other banks. |
Anonymous
| the high-yield savings accounts rates aren't bad - and I like the on-line services. It would be a pain to switch. If I did, I'd probably go for something like PNC. |
Anonymous
| We switched a year ago to USAA. Haven't looked back. It was the best banking decision we ever made. |
Anonymous
| Absolutely not. I actually switched some of my secondary banking back to Chevy Chase that was with Citibank - because Citibank really and truly sucks right now. At least at a certain level of saving, the Chevy Chase hi-yield savings accounts aren't bad, considering what's available. And the ATM convenience, especially given that the reimburse fees for other ATMs if you have a certain amount in your accounts, is great. |
Anonymous
| They've given me no reason to leave so far. You know, the acquisition was finalized months ago, and any other acquiring bank would have gotten rid of the acquiree's name right away so as to stamp their brand on it. I give credit to Capitol One for recognizing and respecting the community's emotional attachment to the Chevy Chase Bank name and letting the transition happen over a long period of time. Now, when the name does actually change, at least I am convinced that not much else will change, because indeed not much has changed in the months since the acquisition. And the ATMs can't be beat. |
Anonymous
| Another USAA customer here. Wouldn't even consider an alternative. |
Anonymous
I use BBT and have been happy with it but I wouldn't exactly call it a local bank. I believe it is based in North Carolina and gradually moved up this way in the last decade or so. I suppose it is more of a regional bank and not as big as Capital One (which I use for my online savings account and the credit card as well) but....it's only a matter of a degree. |
Anonymous
| One of the ways BB&T got in to the local market was through acquiring First Virginia earlier in the decade. |
Anonymous
| Isn't Sandy Spring a local bank? |
Anonymous
Yes, they are great. They just don't have the omnipresent ATMs and branches. Still, if I had to leave Chevy Chase/Capitol One, that's where I'd go. |