Banking issues for traders

[Daal]

Why do you recommend Everbank Daal ? Did you manage to open a non resident with them and use it without issue from Brazil ?

I did back in 2008. I have made wires in and out without problems with them for 10 years. And those were international wires

 

[luisHK]

Ok thanks, good to know. The banking environment has changed a lot since 2008 but you still beeing able to use that account is a good sign.

 

[Sig]

I just got notice that my current US bank (I live is USA) with Citi has made a "business" decision to close my account. They do not like the activity I have of wiring $$ out to my brokerage accounts and back. The same exact thing happened to me at Chase about 5 years ago.

does anyone have recommendations how to avoid this? maybe I should go with a local Credit Union or regional bank. I only need a basic checking with debit card and online services.

I would think it would only be worse with a credit union. I have a couple different credit union accounts to take advantage of their good loan rates and because it's nicer working with them. However when I try to use them for regular banking, anything over a couple grand is treated like the biggest transaction they've ever seen with two person integrity each asking a series of questions from public records and anything over $10K must be done in person and all kinds of crazy. While my old standby BofA sucks and nickel and dimes you to death but doesn't bat an eye at any transaction I've done.