free checking disappearing....

[bettymae1121]

I'm with Chase and I think they charge a fee but waive it if you have direct deposit, and there are few other ways to have it waived too. I got an account at Chase a few years ago so for them it isn't new. They haven't sent any notices about any new fees at this point.

According to the article I read about this, BOA is charging the fee but only if you get paper statements or need to use a teller for basic transactions.

 

[Avonlady1001]

The banks around here all seem to be putting strings on their "free" checking. After my bank changed & started charging $15 if you dropped below $100 (It was my bill paying account...it was always below $100! LOL) we went bank hunting. Most charged or had strings...we chose Chase who offered the free checking if you have direct deposit or use your debit card a certain number of times. The $100 bonus for opening with them helped sway us, too!

Any bank who is going to charge $8.95 a month just for having an account can kiss my you know what!

 

[Nayan]

Last month when I looked at our statement from BoA there was a $20 monthly fee added! Hubby went in and had it removed, since we have more than the minimum required, but I think we're going to switch to a CU here soon. BoA has enough money and they certainly don't need mine. We need all of it that we have!

 

[PrincessSuzanne]

I will NOT be happy if my bank does this, we have 3 checking accts. I have their "gold" acct that there is normally a charge for, but since I have my mortgage with them I don't have to pay that and I don't have to have a minimum monthly balance in it either. I don't even pay for checks, and I only use a few each month anyway.

I switched because our Credit Union, which I still have 2 savings accts with was charging $4.95/month to have a check card and that is ridiculous. Not all credit unions are fee free.

I am NOT in the mood to go bank shopping, but I will if necessary.

Suzanne

 

[Fire14]

I haven't heard anything from our 2 banks but i also have direct deposit and I know that was one way of avoiding fees for awhile now. I'dsay mine are both national or at least regional/mullti state.

 

[funnygarcia]

Local bank chain makes a big deal about "totally free checking" now charges if you don't maintain a certain amount. Not sure how they can say it's "free" when it isn't!

For my account, if I make a deposit into my savings each month or have a monthly direct deposit there is no fee. The agent at the bank advised me, whispering because they aren't suppose to tell you , to auto move a minimal $25 into savings and then auto move it BACK into checking the next day.
DH gets free premium banking due to being a teacher.
No fees, free checks, free money orders. He found out about this perk at the teacher's convention/training day, it's not something they advertise. Wonder if they have that perk for others?

 

[eliza61]

I just saw online at yahoo that banks will be doing away with the free checking. They will be charging $8.95 a month at some banks.....Anyone know if all banks are affected?

Unfortunately I think Banks are a lot like airlines, once one of them gets wind of a way to charge a fee they others generally follow lock step.

In time I think many banks will do away with it. The only thing you can do is shop around.

 

[JCMHutch]

Because my husband travels frequently for work, and he needs to be able to use his ATM card without being charged fees. The credit union is only useful right here in our state, and we only have one branch in our town. It's not convenient at all. Of course, we use that to our advantage: We keep our short term /vacation savings there, so it can't be accessed without planning and making a special trip to withdraw money.

I have my accounts in a larger local bank and I don't have any ATMs (technically, I get charged them and my bank reimburses all fees at the end of the month). I have banked since I was 10 and love them - heck, they even have my mortgage! Had a checking account at Sovereign Bank and it never balanced - no matter what - and I am a nut when it comes to balancing everything every month! Got rid of that account very quickly and won't go back to a big national bank again.