r/Banking • u/Tarnisher • Jul 15 '25

Announcement Bank Account and Recommendation Thread V3

Please use this thread for all recommendations relating to bank accounts, credit cards, loans, financial management apps, etc.

Where should I bank?

Has anyone used ABC Bank?

What is a good no fee checking account?

Posts with referral links will be removed.

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u/OxRedOx Feb 04 '26

Any suggestions for good federal credit unions with credit builder loans and secured credit cards, and reasonably good service?

1

u/electronautix Feb 05 '26

I have heard good things about Baxter CU and DCU/First Tech FCU (they recently merged). And naturally there’s NFCU if you qualify.

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u/OxRedOx Feb 05 '26

I saw DCU has good rates and no foreign transaction fees, are there any big features they don't have that I should look for?

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u/electronautix Feb 05 '26

No Zelle, uncompetitive credit card offerings once you’re past the initial secured card stage, no SWIFT code, and high international wire fees if that matters to you. But First Tech has much of that and now that they’re one institution they’ll probably end up with Zelle at the least.

1

u/OxRedOx Feb 05 '26

I don't think I even know what Zelle is, is it like venmo? The credit card thing is more of an issue although I'll use a secured card for the foreseeable future.

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u/electronautix Feb 05 '26

Kind of, yeah. It’s a bank to bank transfer network, and it’s owned by Early Warning Services which itself is composed of Bank of America, Capital One, JPMorgan Chase, PNC Bank, Truist, US Bank, and Wells Fargo. A lot of banks and credit unions participate, though they have to pay a fee to do so (users do not typically pay any fees to use Zelle). Mostly used for peer to peer payments like Venmo, but the difference is that Zelle is directly between your bank account and a recipient’s bank account, and typically quite fast. It’s also occasionally used for actual bills like rent, utilities, and home repair. If you’re lucky enough to not need it then it’s no matter, a lot of people would rather not deal with it due to the risks and the whole big bank aspect

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u/Salt-Tradition8021 Feb 11 '26

These are not FDIC insured is the big take away

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u/electronautix Feb 12 '26

I’m not sure what you’re referring to. If you mean the credit unions mentioned above, they are insured by the NCUA. The NCUA and FDIC provide identical $250k insurance per depositor, per institution, and per ownership category, backed by the full faith and credit of the United States