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    #1

    Internet only banking

    Hi all! It's been a while since I've posted but I have a question I'm hoping someone can answer.

    I have a friend who is in prison and needs to do all his banking through the mail and would like to establish a banking account. Mainly he would like to be able to send money orders to an outside bank account. He would like to be able to set up something on the outside so that when he is released he won't have to worry about setting up an account and wants to have the ability to save a bit of money before that time to use when he is released. He'd be able to use his Mother's address as his address so that won't be a problem.

    Does anyone have a good recommendation for a totally online bank that I could set up for him that doesn't charge fees or have a minimum balance?

    Thanks in advance!
    Filed 11/17/11 Chapter 13, 341 meeting 12/21/11. Plan confirmed 1/19/12 - DISCHARGED 12/16/15
    Tags: None
    #2
    I looked into online banking for my husband a few months ago. With a google search, you can find many comparisons of internet checking accounts. Here are a couple:

    Five Great Internet Banks
    http://www.pcmag.com/article2/0,2817,2396006,00.asp
    Sick of paying fees to greedy banks? Check out these online-only direct banks where you can do your checking, savings, bill payment, and more--all for a lot less.

    http://online-only-banks-review.toptenreviews.com/

    http://www.consumersearch.com/online-banking/compare


    Not all online banks allow you to mail in deposits. So, that's the first feature you'll need to look for. Ally looks good because they even provide postage-paid envelopes for deposits. They also have no minimum deposit or monthly fee and refund other banks' ATM fees. They have high over draft fees, but hopefully your friend will avoid those. I think this is the one my husband was considering before he decided to go for a local brick and mortar bank instead.

    Your friend is lucky to have you helping him. Having good friends on the outside will help him get a good fresh start when he is released. We get fresh starts after making financial mistakes. He deserves a fresh start after he has done his time for whatever mistake he made.
    Last edited by LadyInTheRed; 04-06-2013, 01:59 PM.
    LadyInTheRed is in the black!
    Filed Chap 13 April 2010. Discharged May 2015.
    $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

    Comment

      #3
      Maybe HSBC or Discover Bank? There used to be ING Direct, but I think Capital One Bank swallowed them up.
      Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
      Status: (Auto) Discharged and Closed! 5/10
      Visit My BKForum Blog: justbroke's Blog

      Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

      Comment

        #4
        ING Direct is now, www.capitone360.com
        I have an account with them and I'm quite satisfied but, I don't know if they'll allow you to mail money orders.

        Comment

          #5
          Originally posted by keepmine View Post
          I have an account with them and I'm quite satisfied but, I don't know if they'll allow you to mail money orders.
          The coolest are the ones that let you scan in checks right from your iPhone (or other smart phone).
          Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
          Status: (Auto) Discharged and Closed! 5/10
          Visit My BKForum Blog: justbroke's Blog

          Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

          Comment

            #6
            Originally posted by justbroke View Post
            The coolest are the ones that let you scan in checks right from your iPhone (or other smart phone).
            BoA does that. I haven't been inside a bank in 5 or 6 yrs, but my funds are direct deposit, I keep hoping someone will give me a check just so I can scan it in!!

            Comment

              #7
              Originally posted by Pjmax View Post
              BoA does that. I haven't been inside a bank in 5 or 6 yrs, but my funds are direct deposit, I keep hoping someone will give me a check just so I can scan it in!!
              I can scan checks for Navy Federal, BB&T, and Chase. I have only used it twice, but it was extremely convenient. On my Chase account, not only did they "accept" the deposit immediately, the first $200 was instantly available!
              Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
              Status: (Auto) Discharged and Closed! 5/10
              Visit My BKForum Blog: justbroke's Blog

              Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

              Comment

                #8
                Chase offers a pre-paid debit card where you can scan in checks, etc., to load it and has a reasonable monthly flat fee. Whereas Walmart charges a fee every time you load the pre paid money card.
                The world's simplest C & D Letter:
                "I demand that you cease and desist from any communication with me."
                Notice that I never actually mention or acknowledge the debt in my letter.

                Comment

                  #9
                  I just opened an account with Ally and so far I've been pleased. Customer Service has been very responsive every time I've talked to them, and the rates are very competitive. They also offer eCheck deposit from your mobile phone, as well as many other options for funds transfers and deposits.

                  Comment

                    #10
                    Well seeing as he's in prison he doesn't have the ability to scan in checks or have a need for a debit card. Basically he just wants to be able to mail a deposit in to the bank from his trust account so that he'll have access to a bank account and funds when he is released.
                    Filed 11/17/11 Chapter 13, 341 meeting 12/21/11. Plan confirmed 1/19/12 - DISCHARGED 12/16/15

                    Comment

                      #11
                      ING Direct now known as Capital One 360, I have had for 4 years and will be probably getting rid of since I believe it may be closed by Capital One due to my bankruptcy.

                      Capital One 360 accepts check for deposit via regular mail:

                      Mail a check for deposit to (and be sure to include your Account Number on the check):

                      Capital One 360
                      PO Box 60
                      St. Cloud, MN, 56302-0060
                      Last edited by ccmisery; 05-19-2013, 04:57 PM.

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