To: bovik@k Subject: Equibank, Pittsburgh National, and other banks Date: Tue, 12 Sep 89 17:17:47 EDT From: Erik.Brunvand@VLSI.CS.CMU.EDU I asked for information about Horizion Financial in particular and other banks in general. These are responses about other banks. Date: Wed, 6 Sep 89 12:22:29 EDT From: Mark.Kantrowitz@A.GP.CS.CMU.EDU Subject: banks I shopped around all the banks with branches in squirrel hill and settled on Equibank. Their mac card has no per transaction fee of any sort (and they're guarranteeing this until at least 1991, and most likely longer). Service is great -- they treat you very nicely. They have free checking and lots of other free services if you direct deposit. The only drawback I have with them is that the interest on their checking accounts is 4-1/4 (I'm used to 5-1/4 or higher, since I come from massachusetts). --mkant Date: Wed, 6 Sep 1989 12:21-EDT From: John.Pieper@N.SP.CS.CMU.EDU Subject: Re: Bank Recommendations... Sounds like Horizon is a good deal. I switched from PNB to Equibank two years ago, and they've been pretty good. But they don't have as good a deal as Horizon. On the other hand, there are more of them, so it is pretty easy to get to a branch when you need to do teller-assisted banking. Equibank also doesn't charge for MAC (or plus) transactions. I will probably stay with them until they start charging for it, then I'll switch. Since so many people left PNB for Equibank after PNB started charging, Equibank has seemed afraid to charge, which is, of course, fine with me. ---------------- Date: Wed, 6 Sep 89 15:10:48 EDT From: John Hagerman Subject: Banks I've been happy with Equibank. - John Date: Wed, 6 Sep 89 15:20:59 EDT From: David.Kosbie@KOZ.GARNET.CS.CMU.EDU Subject: Bank DISrecommendation Do not use Dollar Bank. I use Dollar Bank. I'm too lazy to change banks, but I get pissed off just about once a month, when the statement comes in. They have twice charged me for MAC withdrawals I never made, and getting them to retract the charge was absurdly difficult. They have withheld interest on my savings a few times. If your savings dips below some amount like $100 at any point, you lose interest for the entire month!!! And nobody bothered to mention this to me when I opened the account (and since my balance varies from $1k+ to <$100, it can be considerable interest that I have lost..). They charge an absurd fee now if you use MAC machines which aren't theirs. I spent $3.30 last month in MAC fees! They don't offer much in the way of neat services. The best you can get, and what I now have, is to have direct deposit and to keep at least $500 in your checking -- it will bear interest, and there will be no MAC fees. Still, I suggest using a different bank. --dave Date: 6 Sep 1989 16:00:49 EST From: Susan.Coddington@MICEC1.CEC.CC.CMU.EDU Subject: Bank Account Hi Erik! I read your post regarding bank accounts. Although I don't know anything about the bank you mentioned, I want to let you know about our bank. We joined Pittsburgh National Bank in May 1987. Here's the deal we received for $12 a year: * MAC/Visa card with credit card capabilities (i.e. using the Visa card is like writing a check). * Free MAC / Plus system access. * Monthly MAC/Visa rebates. This amount varies with the amount that you use the card. We receive around $3-4 per month. Although it's a small amount, the yearly amount we receive is well over the $12 we pay per year for the account. * Overdraft protection. Along with the MAC Visa, we received a line of credit for a PNC Visa. If our account becomes overdrawn, money is transferred into the checking account from the PNC Visa account (in $50 denominations). Although the interest rate is high (~17%), it is less than some other cards and comes in handy when needed. * No minimum amount on the account. * Direct deposit. Basically, we've been happy with the service we have received there. Our branch is the Craig Street Branch which is handy for SEI/MI folks. If you have any questions, let me know. Good luck in choosing! Susan Coddington sdc@micec1.cec.cc.cmu.edu Date: Wed, 6 Sep 89 16:49:52 EDT From: Edward Czeck Subject: Re: Bank Recommendations... I use Equibank. They have direct deposit (Actually you could deposit pay checks anywhere in the country), with no fee for the account. There is no MAC fee anywhere in the US (Plus System). (They advertise this till 1990), and they have have a pay-by-phone system. This sounds very close to the Horizon deal. I've neve had any problems with them, and had on occasion deposited checkes thru us mail. Ed. Subject: banks Date: Wed, 06 Sep 89 18:31:37 EDT From: Frederick.Knabe@B.GP.CS.CMU.EDU I just switched from First Federal too...to Equibank. I've heard Horizon is not in the best financial shape, and a friend of mine with an account there (who went to Horizon for exactly the deals that are attracting you) is not too happy with the place. Equibank has free Mac cards. From: Lawrence Holloway Subject: banks Date: Thu, 07 Sep 89 11:21:45 EDT My wife and I use Pittsburgh National Bank of Oakland. They have a similar deal where direct deposit of paychecks gives free checking, and they are within walking distance of school if you need to visit them during the day. They are a member of Trinet system, and any MAC transaction at a Trinet machine is free (and probably well over half of all MAC machines in Pgh are Trinet members). (There is a $4.00 fee for 100 MAC transactions, but 4 cents a transaction is certainly better than 50 cents.) I previously banked with Horizon, and they seemed satisfactory until my wife tryed to get a car loan and was treated very rudely. Since that time, several Horizon Financial banks have been under close watch by the FSLIC (some of them are insolvent). There have been (small) articles in the Pittsburgh Press in the last six months discussing the relationship between the FSLIC and certain Pgh institutions, so if you want more info it is publicly available. Because of FSLIC, insolvency of the institution should not put you at any financial risk, but at some time in the future you might have to spend time reprinting checks, getting another MAC card, etc. - -Larry Holloway Date: Thu, 7 Sep 89 17:40:38 -0400 (EDT) From: Robert.Sansom@CS.CMU.EDU Subject: Re: Bank Recommendations... Horizon Financial is broke and is currently been run by a Federal Regulator. I'd be suprised if they are going to have free MAC card usage for much longer. I'd actually suggest that you consider using Mellon Bank (horror of horrors!). They have free checking (no interest) with direct deposit of payroll plus they have free MAC card usage at all their own cash machines (those with a red M on them --- there's one in every Giant Eagle). - Robert P.S. I find it hard to believe that I'm actually recommending Mellon Bank!!