Banking fees question

T.G · 01-13-2011, 11:14 AM

Hugh, I've found that you just need to shop around. Some account plans require a minimum balance and/or direct deposit to have fees waived, some require certain activity levels or don't pay interest, but are free otherwise with no minimum balance. Some require you to maintain a balance in a savings account, but checking can be any balance. Try the smaller, local area banks and credit unions, they tend to offer more services / less fees than the bigger banks.

markem · 01-13-2011, 11:18 AM

It is a buyers market. You can (and should, at least occasionally) look around to see how good a deal your bank it for you. If you find a better deal, go in and talk to an account manager. Explain why you would like to stay and how the better deal is tempting you away. When it comes to fees, some can be waived (new banking regulations may alter that).

A friend of mine has had interest free credit cards for years because she flatly states that if they don't waive all interest that she will move her account to another place.

hotreds · 01-13-2011, 12:00 PM

Thanks, guys! This is Chase, it is not a business account, there is no interest attached to the balance. It was free when I opened it a few years back, in Dec they sent me the letter stating that starting in Feb they would charge the $12. I use it only to do online stuff, I have never written a check. I'll talk to a rep there and see what they can do for me. I'd like to keep it since my other stuff is also with Chase and I can easily transfer funds between accounts and the like- but not for $12 a month-- a $1500 balance would be very hard to maintain at this point in this account.

T.G · 01-13-2011, 02:40 PM

Quote:

Originally Posted by hotreds

Thanks, guys! This is Chase, it is not a business account, there is no interest attached to the balance. It was free when I opened it a few years back, in Dec they sent me the letter stating that starting in Feb they would charge the $12. I use it only to do online stuff, I have never written a check. I'll talk to a rep there and see what they can do for me. I'd like to keep it since my other stuff is also with Chase and I can easily transfer funds between accounts and the like- but not for $12 a month-- a $1500 balance would be very hard to maintain at this point in this account.

I know a bunch of people who are closing their Chase accounts because of that new policy. A number of them are employees of Chase too.

Starscream · 01-13-2011, 03:46 PM

Quote:

Originally Posted by T.G

I know a bunch of people who are closing their Chase accounts because of that new policy. A number of them are employees of Chase too.

Good. Chase will eventually figure it out (maybe). They don't really make their profit off of the little man, but if enough pull their accounts, then it may make a difference.

01-13-2011, 11:14 AM	#1
T.G Grrrrrr Join Date: Mar 2009 First Name: The Other Adam Posts: 15,578 Trading: (37)	Re: Banking fees question Hugh, I've found that you just need to shop around. Some account plans require a minimum balance and/or direct deposit to have fees waived, some require certain activity levels or don't pay interest, but are free otherwise with no minimum balance. Some require you to maintain a balance in a savings account, but checking can be any balance. Try the smaller, local area banks and credit unions, they tend to offer more services / less fees than the bigger banks.

01-13-2011, 11:18 AM	#2
markem Bunion Join Date: Oct 2008 First Name: Mark Location: Second Star on the Right Posts: 22,662 Trading: (47)	Re: Banking fees question It is a buyers market. You can (and should, at least occasionally) look around to see how good a deal your bank it for you. If you find a better deal, go in and talk to an account manager. Explain why you would like to stay and how the better deal is tempting you away. When it comes to fees, some can be waived (new banking regulations may alter that). A friend of mine has had interest free credit cards for years because she flatly states that if they don't waive all interest that she will move her account to another place. __________________ I refuse to belong to any organization that would have me as a member. ~ Groucho Marx

01-13-2011, 12:00 PM	#3
hotreds Ephesians 2:8 Join Date: Oct 2008 Location: 5 miles past "Resume Speed" Posts: 11,674 Trading: (63)	Re: Banking fees question Thanks, guys! This is Chase, it is not a business account, there is no interest attached to the balance. It was free when I opened it a few years back, in Dec they sent me the letter stating that starting in Feb they would charge the $12. I use it only to do online stuff, I have never written a check. I'll talk to a rep there and see what they can do for me. I'd like to keep it since my other stuff is also with Chase and I can easily transfer funds between accounts and the like- but not for $12 a month-- a $1500 balance would be very hard to maintain at this point in this account. __________________ God loves you so much, that he made you read this, just to let you know.