Sure, but my local hardware store is also trying to sell me stuff and is trying to charge as much as possible for it, yet I don’t have to jump through opaque and frustrating procedures and barely functional web systems to buy a 2x4.
The author’s issue comes down to banks being apparently uninterested in attracting business by solving actual customer pain points. Instead of solving real problems (terrible UX around a lack of statements, a malicious USB stick can drain your bank account, etc) the banks mostly just appear to trend chase (chat app! Crypto!).
The bar to open a hardware store next door is much lower than the bar to open a bank (I am not arguing for more bank deregulation). And the bar for the customer to switch from one hardware store to another is much lower than the bar for a customer to move all their accounts, direct deposit, mortgage, etc. from one bank to another.
Never had these problems with my CU (LMCU), and honestly Cap1 bank has been doing a pretty bang up job with my CC's. I'm considering trying them for banking.
Capital One CC and Capital One Bank (360) are completely different creatures, with a shared web interface. I've accumulated a bunch of experience with the major online banks, for my personal use as well as settling an estate. My "main account" is at Ally, but due to the possibilities of account lockout I still have accounts at all three in addition to a local CU (for cash withdrawals, notary/medallion stamps).
Discover customer service is fantastic, with friendly interactive humans. I feel bad that Discover is not my main bank - I was going that way until a binding arbitration clause (with unreasonably short opt-out period) derailed the relationship. Ally is adequate, with the "standard" humans emulating robots relying on a case system. They will promise to call/email you back but never will, so you have to poll. Capital One 360 is at or below Ally - I had a poor experience with them settling an IRA, but they're ending their IRA business so who knows.
Unfortunately the Discover web / app is the worst of the three (although they support OFX Direct Connect last time I checked). Ally and Cap1 are nice (although there are some things you cannot do through the Cap1 web interface until you find a hidden link to the old web interface, which is still partially active). One standout feature of Cap1 is that you can open a reasonable line of credit for overdraft protection, if you don't generally have enough cash sitting around in an adjacent savings account.
P.S. I tried Alliant CU but was not impressed by their web interface or the hoops required to login to the app. Customer service seemed okay. Maybe in a different life.
P.P.S. Ally Invest is a completely separate creature from Ally Bank. I've had two different horrendous experiences with Ally Invest, and urge everyone to steer clear. The reps sound like they know what they're talking about (holdovers from TradeKing I presume), but are completely disconnected from the back office's procedures or activities.
honestly Cap1 bank has been doing a pretty bang up job with my CC's
What a coincidence.
Last month, my wife called Cap1 to close two department store credit card accounts she hasn't used in years.
This morning, I'm doing the bills and in the letters are two from Cap1 welcoming her to her new department store credit cards, here are all the terms and rates, and here's your first bill for $0. Happy spending!
I too was satisfied with my Cap1 cc account(s), tried their banking, and it was a total disaster. I eventually got my money out (through two systems that had been deprecated and closed down, with no apparen't notice to me), and left $10 in one account that still has paper statements - but no ability to sign in to the account any more.
and honestly Cap1 bank has been doing a pretty bang up job with my CC's
As I said, the banks just love to sell you money at a very nice profit. What is the interest rate on those CCs? Is it anywhere near the current 'zero interest rate'?
The author’s issue comes down to banks being apparently uninterested in attracting business by solving actual customer pain points. Instead of solving real problems (terrible UX around a lack of statements, a malicious USB stick can drain your bank account, etc) the banks mostly just appear to trend chase (chat app! Crypto!).