U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics > Personal Finance
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
Reply Start New Thread
 
Old 03-18-2011, 12:39 PM
 
4,876 posts, read 5,762,774 times
Reputation: 3451

Advertisements

I was contacted by Wells Fargo and told there will now be a $ 5 a month checking account fee for maintenance.

If you keep $ 1,500.00 in your checking account, you won't be charged.

If you can get direct deposit with them, no fee.

I know it's only $ 5.00 but that's my $ 5.00 !

I hope I don't sound trite but in my lifetime I never recall being charged JUST to have an account..

( Not withstanding a savings account that you are charged fees for by w/d money or monthly fees...)

This makes me want to check out some credit unions...
Reply With Quote Quick reply to this message

 
Old 03-18-2011, 12:53 PM
 
794 posts, read 1,380,999 times
Reputation: 372
I am surprised by this. I expected them to wait until they had finished converting Wachovia everywhere before they started charging existing customers since Wachovia still offers a real free checking product.

Retail banking is competitive, there are no shortages of places who would love to have your business.
Reply With Quote Quick reply to this message
 
Old 03-18-2011, 02:37 PM
 
Location: Pasadena, CA
1,028 posts, read 1,899,926 times
Reputation: 733
I'd think most people with a checking account either would have the $1500 or direct deposit.
Reply With Quote Quick reply to this message
 
Old 03-18-2011, 02:55 PM
 
Location: Connecticut
2,727 posts, read 2,915,330 times
Reputation: 1868
Quote:
Originally Posted by ZenMaster2008 View Post
I'd think most people with a checking account either would have the $1500 or direct deposit.
Not true.

My company doesn't offer direct deposit and in these tough times I don't always have $1,500 just laying around.
Reply With Quote Quick reply to this message
 
Old 03-18-2011, 02:56 PM
 
Location: Connecticut
2,727 posts, read 2,915,330 times
Reputation: 1868
TYo the OP - I know it stinks, but it's better than the $15 my bank charges if you go under the $100 minimum.
Reply With Quote Quick reply to this message
 
Old 03-18-2011, 02:58 PM
 
Location: Pasadena, CA
1,028 posts, read 1,899,926 times
Reputation: 733
Quote:
Originally Posted by CTGirlNoMore View Post
Not true.

My company doesn't offer direct deposit and in these tough times I don't always have $1,500 just laying around.
I guess you fit in the other side of my "most" wording.
Reply With Quote Quick reply to this message
 
Old 03-18-2011, 03:10 PM
 
Location: Connecticut
2,727 posts, read 2,915,330 times
Reputation: 1868
Quote:
Originally Posted by ZenMaster2008 View Post
I guess you fit in the other side of my "most" wording.

Very true. This late in the day my brain wasn't reading the word "most".
Reply With Quote Quick reply to this message
 
Old 03-18-2011, 04:48 PM
 
Location: Boise, ID
5,565 posts, read 10,898,943 times
Reputation: 4979
Wells Fargo already charged a fee for business accounts if you didn't keep a minimum balance. For our accounts I think it is a minimum of $3000 or an average balance for the month of $5000. If you meet either of those, there is no fee. If not, it is $6.00 (or it was last time we were below that balance). For small businesses that don't keep a lot of money from month to month, or for monitored accounts that can only have certain things in them (like real estate trust accounts), this means that some months, you have a fee. You aren't allowed to put extra money in a real estate trust account (beyond a couple hundred for fees), so if you have a slow month, there is no way to avoid this fee.

HOWEVER, I have, several times, gotten this fee reversed by Wells Fargo simply by going in and asking for it. Just something to think of for long term good customers.

Good to know this though, I haven't seen any notification yet on my personal accounts. I don't always keep that much in my checking, since I regularly move any excess to my savings, so I will start keeping a bit more in there.
Reply With Quote Quick reply to this message
 
Old 03-18-2011, 06:56 PM
 
1,155 posts, read 1,330,471 times
Reputation: 698
Quote:
Originally Posted by CTGirlNoMore View Post
Not true.

My company doesn't offer direct deposit and in these tough times I don't always have $1,500 just laying around.
You are the exception. I can't blame the banks for charging the fees. Why should they provide services for you when you cost them money?
Reply With Quote Quick reply to this message
 
Old 03-18-2011, 06:59 PM
 
Location: Barrio Logan/Shelltown
8,844 posts, read 12,557,840 times
Reputation: 4769
Switch to a credit union. You'll have free checking and 10,000 ATMs available to you. Most credit unions are on the coop system, and you can use any credit union ATM, plus any 7-11 ATM, at no charge to you.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $84,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics > Personal Finance
Similar Threads

All times are GMT -6.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top