Best Banks in Hawaii

[tutusue]

Re: Best Banks in Hawaii

[...]I don't use them, but I read that Central Pacific Bank has introduced the ATM rebate feature (and free checks) if you have at least $10,000 with them (or if you don't have $10K, but are willing to make 15 check card purchases per month, have direct deposit and billpay with them).

I do bank with CPB and the account you're referring to is called Choice Checking...and currently earns 4.0% (up to a max. of $25K)! That's better than any of my mainland MMAs. And, yes, there are several types of transactions that must be completed each month. The biggest challenge for me was the 15 monthly check card purchases. I solved that by using the card for all of my McDonald's purchases...even for one diet coke!

The $10K combined account minimum that also includes free checks is the Exceptional Account.

ETA: Almost forgot...the bank is offering a free iPod when opening a new account!

[mapen]

Re: Best Banks in Hawaii

Hey thanks for the info Tutu. The 4% interest rate is fantastic for a local bank, but the requirement of 15 debit card transactions could be a hardship for me. I'd have to do some tricks like when I fill my car up with gas, I could do multiple $3 purchases . Or at the post office self-service kiosk, I can buy multiple stamps one at a time, charging each one separately

The free iPod is a good deal. I think I'm going to open an account to get the free iPod Nano 4GB. I have 2 CPB branches within walking distance of my condo building and one across the street from my work, so it will be very convenient for me.

[tutusue]

Re: Best Banks in Hawaii

Hey thanks for the info Tutu. The 4% interest rate is fantastic for a local bank, but the requirement of 15 debit card transactions could be a hardship for me. I'd have to do some tricks like when I fill my car up with gas, I could do multiple $3 purchases . Or at the post office self-service kiosk, I can buy multiple stamps one at a time, charging each one separately

Be sure to complete that 15 transaction requirement by, oh, the 23rd or 24th of the month or so because some merchants are slower than others to submit transactions to the bank...or possibly the delay is on the merchant's bank's end. I noticed this month that some of my transactions from May did, in fact, post in June but I was still ok. I got an unexpected start to my June requirement! I use the card for all grocery purchases (always have), gas, fast food and just about anything under $25. that I would otherwise pay for with cash. Just remember to get the receipt so you don't forget to post the amount in your check register! I've forgotten a couple of times then had to wait 'til the transaction was posted to my account online before I can post it in Quicken.

The free iPod is a good deal. I think I'm going to open an account to get the free iPod Nano 4GB. I have 2 CPB branches within walking distance of my condo building and one across the street from my work, so it will be very convenient for me.

The last time CPB had the iPod deal I took advantage of it. I didn't need another iPod but Apple was allowing customers to do an in store exchange. I opted for a gift card. This time the customer receives a coupon that needs to be presented at the Apple Store.

An iPod and 4% is not a bad deal...not bad at all!

ETA: Mapen, you can also get a combination of the 2 accounts for a Choice Exceptional account...or is that Exceptional Choice account?! That way you get the benefits of both.

[sansei]

Re: Best Banks in Hawaii

hi this is sansei and i voted for American saving's bank is this is a great bank and i've banked at it for many year's and the customer service people are very kind so i think american saving's are the best.

well thanks for your time

[PearlCityMike]

Re: Best Banks in Hawaii

I started out with First Federal in Pearl City as a little kid, and they became American Savings when I hit my teens.

I've never wanted to go with BOH because of the long lines. You go to a popular bank - you wait in line longer. I value my free time and I don't wait in long lines. (of course direct deposit also helps eliminate the wait)

I've been with Ent Credit Union since 2000 and I'm sticking with them. I vote credit union.

[cynsaligia]

Re: Best Banks in Hawaii

I've been with American Savings for 20 years and wouldn't consider changing. They're open 'til 6pm and on Saturdays. There are even a few open Sundays.
Checking account is free,ATM's everywhere(Zippy's esp.) If convenience matters,check them out

hi this is sansei and i voted for American saving's bank is this is a great bank and i've banked at it for many year's and the customer service people are very kind so i think american saving's are the best.

well thanks for your time

my vote also for american savings bank. eric and i have free checking accounts there--free checks, free online bill payment, no minimum balance, no service fee, etc. as pointed out earlier, their atms are everywhere, and many of their banks are open later than your typical bankers hours. they do a lot to make doing bank business convenient for their customers.

i also like my credit union - hawaii federal credit union.

[tutusue]

Re: Best Banks in Hawaii

*bump*

Based on a suggestion I heard on the Today Show this morning, I hele'd on over to bankrate.com to use their "safe and sound" tool to see how my banks were currently rated.

Yikes...of the Hawaii banks listed, Central Pacific Bank is in the worst shape with only a 1 star rating. Granted, my accounts are FDIC protected but should CPB go under all my automatic bill payments, one automatic deposit and external bank transfer capability will be compromised. I wish I knew if it was ever rated any higher.

So, analogous to Hurricane Ike...do I stay put and ride out an unknown, potential storm or do I evaculate? (Sorry WB, couldn't resist! ) Evaculation would involve one heckuva lotta work and time. I haven't heard any coconut wireless info that CPB's in trouble. But, would I?

Thoughts from you financially savvy HTers?

[Vanguard]

Re: Best Banks in Hawaii

Are there any notable foreign banks with offices (i.e. services) in Hawai'i?

[tutusue]

Re: Best Banks in Hawaii

Are there any notable foreign banks with offices (i.e. services) in Hawai'i?

This is the only one I could find, both thru google and the phone book:

Philippine National Bank Honolulu Agency
33 South King Street, Suite 109
Honolulu, Hawaii 96813

There is no web site for the Hawaii office but I noticed the following quote on the bank's New York web site:
"PNB New York Branch is not a member of the FDIC."

[Walkoff Balk]

Re: Best Banks in Hawaii

*bump*

So, analogous to Hurricane Ike...do I stay put and ride out an unknown, potential storm or do I evaculate? (Sorry WB, couldn't resist! ) Evaculation would involve one heckuva lotta work and time. I haven't heard any coconut wireless info that CPB's in trouble. But, would I?

One typo and I've become Norm Crosby of this board. Is he still alive?

[Vanguard]

Re: Best Banks in Hawaii

This is the only one I could find, both thru google and the phone book:

Thanks for looking!

[tutusue]

Re: Best Banks in Hawaii

One typo and I've become Norm Crosby of this board. Is he still alive?

It appears he's still above the sod!

And, yes, WB...you've branded yourself for the rest of your HT life!

[Walkoff Balk]

Re: Best Banks in Hawaii

And, yes, WB...you've branded yourself for the rest of your HT life!

Branded? Then, I'll just have it tattooed above my tramp stamp.
The bank that says "yass."

[tutusue]

Re: Best Banks in Hawaii

Branded? Then, I'll just have it tattooed above my tramp stamp.
The bank that says "yass."

Ha!
Looooong ago there was an email list that contained several, current HT members. There were so many typos that one of the members assembled a dictionary indigenous to our list. Within a short amount of time our messages looked like a foreign language but we all understood everything! Fun times!
<bluish!>

[Expat Kamaaina]

Re: Best Banks in Hawaii

Banks in general, are archaic and old fashioned financial institutions. Nationally, they do not offer competitive services, cost structures, and do not pay competitive interest and dividend rates. Having said this, Hawaii banks are the worse at screwing the local people -- I know this from practical experience, and a lot of it. I have now lived on the Mainland for the last 25 years and can tell you this for a fact, since I still have banking needs for my family in Honolulu. However, Bank of Hawaii has been good from a customer service perspective, but as we all know, customer service is "people" not the policies or the organization. Most of the BOH people that I have dealt with over the years are pretty damn good, but there are some in the financial management services division that really suck big time. Branch banking operations are great people to deal with, financial management services division is pretty bad at providing customer service. I do not have any gripes about what they have done, but they are very slow to respond, ignore questions if you ask tough ones, and don't seem to care unless you are a $10M portfolio customer either. My needs are not manini too -- my MIL's portfolio that I manage for her is in excess of $1M, but I still get crappy customer service. Also, American Savings bank is pretty bad in trying screw customers too...they post deposits late, but post expenditures immediately in an attempt to screw you out of a day or two worth of interest. When you make credit card payments, they frequently either "lose" the check, or it gets slowed down in their "system" -- now it could be coincidental, but when this happens with this bank about 50% of the time, so I don't think that this is coincidence. This is my input to this question.