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Old 08-17-2011, 10:49 AM
 
868 posts, read 2,430,893 times
Reputation: 493

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I understand people don't want to use their checking all that much, but if you have a job (a regular job and not "under the table"), you can get direct deposit. Just direct deposit your paycheck into that checking account and voila, free checking at most banks (including Wells Fargo, as mentioned in org post)...even if you simply that take money and IMMEDIATELY move it to savings. That's what I do to keep my checking free at BofA.

Now if you are retired or something that's different, but social security and even disability can be direct deposited to make checking free too. Really only people who have absolutely no access to something that can be direct deposited (i.e., unemployed and even then I dunno if Texas will direct deposit unemployment checks) need "totally free" checking without any conditions...
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Old 08-17-2011, 10:51 AM
 
Location: Frisco, TX
326 posts, read 682,854 times
Reputation: 420
Quote:
Originally Posted by pappy97 View Post
I understand people don't want to use their checking all that much, but if you have a job (a regular job and not "under the table"), you can get direct deposit. Just direct deposit your paycheck into that checking account and voila, free checking at most banks...even if you simply that take money and IMMEDIATELY move it to savings. That's what I do to keep my checking free at BofA.

Now if you are retired or something that's different, but social security and even disability can be direct deposited to make checking free too...
I think it's Wells Fargo as well, but they're also looking at starting monthly service charges for using your debit card as well, regardless of whether or not you have free checking. Nickel and diming people to death...
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Old 08-17-2011, 10:55 AM
 
868 posts, read 2,430,893 times
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Quote:
Originally Posted by mikeh19468 View Post
I think it's Wells Fargo as well, but they're also looking at starting monthly service charges for using your debit card as well, regardless of whether or not you have free checking. Nickel and diming people to death...
I heard today on the news that someone is trying that in a few states, maybe it was Wells Fargo, but I didn't hear Texas mentioned. Although off topic, I agree this is insane, I mean come on... for a bank to charge a fee when you use their own debit card (unless using it at an ATM that isn't with that bank, I get that)...what have we come to?
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Old 08-17-2011, 10:57 AM
 
868 posts, read 2,430,893 times
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But I don't want this to get sidetracked. Question remains to the original poster, what's your beef with having your paycheck directly deposited into your checking and then you immediately move that to savings? That way you have free checking and your money is where you want it to be. Everyone's happy.
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Old 08-17-2011, 11:11 AM
 
Location: Los Angeles, CA
17 posts, read 35,898 times
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Bank of America offers something called e-banking that is totally free. We recently switched from Chase to this BofA option because Chase started charging $10/mo fees on its "free checking" to customers without direct deposit.
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Old 08-17-2011, 11:32 AM
 
Location: Dallas
164 posts, read 548,506 times
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I'm with pappy97 on this subject. Why can't you direct deposit? It's only $500.
I have free checking and ATM use at all Chase locations.
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Old 08-17-2011, 12:42 PM
 
Location: North Texas
2,487 posts, read 5,959,708 times
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I have been with Chase from when they where Home Savings- Washington Mutual- to now Chase......I did go to Captial One for about 6 months when Washington Mutual was changing to Chase...I got so feed up with the bank changing and changing.....but I hated Capital One. You made a disposit Tuesday evening before bank closed and it didn't post until Thursday at 12:01 am.....same with direct deposit. I perfer direct- then I don't have to go to the bank often.....most bank offer free checking with direct.
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Old 08-17-2011, 01:14 PM
 
868 posts, read 2,430,893 times
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Quote:
Originally Posted by Handsome Stranger View Post
I'm with pappy97 on this subject. Why can't you direct deposit? It's only $500.
I have free checking and ATM use at all Chase locations.
And if you do DD, at these banks there is no min balance. Hence payday comes and your checking account gets your direct deposit. That day you go online (Since just about everyone can bank online with their bank) and move all of that to savings. What I have done in the past is move everything but $1.00 to savings on the day of direct deposit. Even if there is no min balance, I think it's always safe to have $1.00. Then, like the OP, if I need to use my checking, I move money over from savings to checking and do my business.

Repeat this each payday.

I know the OP was asking where to move your checking to, but you gotta wonder why Direct Deposit is not an option here for the OP.
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Old 08-17-2011, 01:31 PM
 
Location: Los Angeles, CA
17 posts, read 35,898 times
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Is it possible the OP does not have access to direct deposit?

For years we enjoyed the convenience of direct deposit through my husband's employer. But, when he got a new job with a smaller company that refuses to offer its employees dd because of the cost to the company (ridiculous), we had to switch banks in order to avoid a monthly fee.
The Bank of America e-banking option has been a pretty good replacement for the Chase account we once held.
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Old 08-17-2011, 01:47 PM
 
868 posts, read 2,430,893 times
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Quote:
Originally Posted by GreenBeetle View Post
Is it possible the OP does not have access to direct deposit?
That's what we are waiting to hear from the OP.

Thus far, OP never said anything about not having access to Direct Deposit, OP just said OP hardly ever uses their checking and also commented on fees. OP might not be aware that you could DD into a checking account, on the same day as DD move that money to savings, and still not incur a fee on that checking account (for those checking accounts that waive fees if you DD).
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