Cheap bank account for dues auto debit

[Betty X]

I am a Canadian and I am going to set up a US bank account for getting my dues auto debited. I would like to know if there are any US banks that have no monthly charges for the account.

I am not sure how it works in the US but we here in Canada have to pay a monthly fee if we keep less than say for example, a thousand dollars in an account. As I will be using this US account only for my dues auto debit I don't want to have to pay $12.00 per month for the privilege. Any suggestions?

Thanks for your help.

 

[ncligs]

In Ohio we use National City Bank for our checking acct, and there is no monthly fee, and no minimum balance required.We also can have unlimited ATM withdrawls,POS,debits,etc.

 

[jel0511]

If you don't have a loan attached to your DVC, then you don't have to have your dues auto debited each month. You can pay them in one lump sum yearly. Much easier than opening up a separate bank account just for dues.

 

[Betty X]

I do not have a loan for DVC but the annual dues are due every year when I take my vacation (end of January). I would rather pay it monthly and set up a US account than have to pay my dues in one lump sum BEFORE I take my holiday every year.

 

[kdonnel]

You might want to try an online bank. You can complete all the paper work without having to ever visit the branch.

I have a friend that works at www.netbank.com.

They have a netvalue checking account that has no fees with no minimum balance. They charge for a paper statement but as long as you are happy with an online statement there should be no charges. They have a schedule of fees on their web page.

There may be other better values from other banks.

Depending on our age you may be able to get a senior account free also. Most banks have free accounts for people starting around 50.

 

[Betty X]

It looks like I have to be a US citizen with a Social Security number to open an account there. I am a Canadian with a Social Insurance Number.

Does anyone know if Sun Trust bank has a no fee checking account? I know there is a branch at Downtown Disney so that would be really convenient.

 

[anniet]

Betty X- It does NOT have to be a checking account!

Mine comes out of my savings account. But it has to be a statement savings account, it cannot be a passbook account, where you need the passbook whenever you make a deposit or withdrawal.

You might have better luck finding one of these with No annual fee.

Good luck-

And will you be vacationing at the end of THIS January? If so we may be down there the same time!

 

[floridaminnie]

Last time I checked, Sun Trust Bank did not have a "free" checking account.

 

[Gillian]

If it can be statement savings, try INGdirect.com .

 

[MikeJ]

We do the following.

We own 330 pts at OKW, so the dues for this year came to US$1100 or so (I don't remember the exact amount). That corresponds to just under Cdn$1800 (assuming an exchange rate of 1.6) or $150 monthly. We've opened a separate bank account at BMO and every month we transfer $150 into it. Come January, I use our Air Miles Mastercard to pay the bill, and once it shows up on the M/C statement, I immediately pay it off using the contents of our special DVC account. The end result is the same as paying monthly with a couple of advantages...

1) No need to open a US bank account

2) We get Air Miles for our dues

FWIW...

- Mike