Local Bank Review: Broadway Bank, San Antonio, Texas

 

             Since moving to San Antonio six years ago, I've taken advantage of a number of cash bonuses for opening checking or savings accounts at various financial institutions.  Last November, I received a mailing advertising a $125 bonus for opening a personal checking account at Broadway Bank; the account required an initial deposit of $100 and a monthly direct deposit.  I opened the account at a nearby branch on the final day of the promotion.  The personal banker who assisted me was not familiar with the promotion, but he checked with the branch manager and verified it.  Opening the account was straightforward and both the teller and the personal banker who assisted me that day were polite and helpful.  I went home with a sheaf of papers which I promptly added to my "bonus bank account" file.

             I requested only a debit card, no checks, since this was not going to be my primary checking account.  Broadway Bank did provide me with five temporary checks in various designs.  The debit card arrived within a week and I activated it, as well as setting up a direct deposit from my husband's military pay.  My plan was to use this as a sort of personal "Christmas Club" account, something I started the previous year with a "bonus bank account" at Chase. So far, so good.

              Early in 2010, I finally got around to setting up online access to this account.  I'd started the setup process with the personal banker in the branch when I opened the account but never logged on to complete the process.  As it turned out, getting online with Broadway Bank was a bit of a hassle for me.  I had to call their online banking support at least twice before gaining access to my account.  The upside was that their phone support personnel were both local and very polite and helpful. 

                In addition to the monthly direct deposit, I added a rather generous gift check to my account late in December.  I noticed that it posted quickly, within a couple of days.  Once I set up my online access, I also added several payees in Broadway Bank's BillPay feature and utilized it to pay bills a number of times.  I really like this feature - it includes optional electronic bills from participating billers, an option I have not used, but the best feature for me is short lead time on paying bills - payments I set up today can be delivered in as little as three or four days. 

                 But what of the promised $125 bonus?  I kept an eye on my monthly statements, but four months after I opened the account and set up direct deposit, no bonus had posted, so I stopped by the branch to look into the situation.  I spoke with a teller who was very polite and helpful like everyone else I'd dealt with - she researched the bonus for me, found the applicable offer code, and told me that it would post to my account within a day or two. Which it did. 

                  So far I haven't been hit with any pesky fees.  In fact, I've been pretty happy with this account all around - enough that I would consider Broadway Bank for other banking needs as they arise.  Since I opened this account I've noticed that Broadway Bank has locations all over the parts of San Antonio that I frequent - and it has a military arm, Eisenhower Bank, with a presence on San Antonio military facilities.  As a military wife, I find myself shopping on post/base at least a couple times a month, and Eisenhower Bank ATMs are conveniently located in the military shopping facilities and offer fee-free withdrawals from my Broadway Bank account. 

                  Compared to Chase, Bank of America, and Compass, all of which have paid me account opening bonuses over the past few years, Broadway Bank of San Antonio is far and away the best.