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Old 08-17-2011, 02:52 PM
 
Location: Chicago
1,257 posts, read 2,290,295 times
Reputation: 1139

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Any of these bigger banks will bend over backwards to hurt you the first chance they get if it profits them.


Small local banks or credit unions are the way to go.
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Old 08-17-2011, 02:57 PM
 
Location: DFW
621 posts, read 1,197,894 times
Reputation: 306
Quote:
Originally Posted by jtltke137 View Post
I'm sure all WF customers got the same e-mail:

There are important changes coming to your Free Checking account
What's changing:
Effective September 12, 2011:
The name of your account will change to Personal Checking.
A $7 monthly service fee will apply, which can be waived with one of the following:
Maintain a $1,500 minimum daily balance, or
The total amount of qualifying direct deposits each statement cycle into this account must be $500 or more*
If you do not meet one of the above criteria to waive the monthly service fee, this fee can be discounted by $2 per month when you set up and receive online statements for this account.

I keep my savings in an online account and very little in my WF checking account. I transfer money to my WF checking account when I need to. Like most people I almost never write a check or use an ATM to get cash.

I haven't had to think about this in a while. What is the best strategy to handle my checking? Is there an online option where I can earn interest, write the occasional check, and use ATMs for free? Or is there a bank in DFW that still has "totally free" checking?

Hmmm, Thanks I did not get this!
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Old 08-17-2011, 02:58 PM
 
Location: DFW
621 posts, read 1,197,894 times
Reputation: 306
Quote:
Originally Posted by mami2emily View Post
Used to have a Wachovia account in Georgia (now Wells Fargo) and I absolutely positively CANNOT stand that bank!!!! They have more ways of nickel-and-diming you. They even used to charge me a non-Wachovia atm service fee if I was in a supermarket and picked debit at the checkout!

I would try one of the e-access accounts that offer free checking if most if your banking is done online and/or via ATM. I've been pretty happy with the one through Bank of America. $25 is the minimum.

Yes, I had Century bank which was bought up by Wells Fargo...They really do suck big time now!
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Old 08-17-2011, 03:12 PM
 
2,182 posts, read 4,851,306 times
Reputation: 1206
I have a chase college account, best account ever
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Old 08-17-2011, 03:13 PM
 
143 posts, read 653,739 times
Reputation: 119
Quote:
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.
The reason I don't have direct deposit is because.........................................I have nothing to deposit. Actually, I get some dividends from investments direct deposited but not $500 worth each month. I can't even get an interview, much less a job right now.

But it is also the whole concept of the neighborhood bank that I am questioning. I almost never use paper checks or cash for anything. The only time I ever use my debit card is at Aldi because I have to. I was thinking of something more outside the box like using an internet bank that I can write the occasional check with or using my Vanguard account and having a Money Market account that I can use to pay bills electronically with.

I occasionally go to the WF on McKinney Avenue and there is never anyone in there and 5 pleasant tellers with nothing to do. I have nothing bad to say about WF, it is just that I don't want to pay monthly service fees for anything.
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Old 08-17-2011, 03:21 PM
 
868 posts, read 2,431,454 times
Reputation: 493
Quote:
Originally Posted by jtltke137 View Post
The reason I don't have direct deposit is because.........................................I have nothing to deposit. Actually, I get some dividends from investments direct deposited but not $500 worth each month. I can't even get an interview, much less a job right now.

But it is also the whole concept of the neighborhood bank that I am questioning. I almost never use paper checks or cash for anything. The only time I ever use my debit card is at Aldi because I have to. I was thinking of something more outside the box like using an internet bank that I can write the occasional check with or using my Vanguard account and having a Money Market account that I can use to pay bills electronically with.

I occasionally go to the WF on McKinney Avenue and there is never anyone in there and 5 pleasant tellers with nothing to do. I have nothing bad to say about WF, it is just that I don't want to pay monthly service fees for anything.
Sorry to hear about your job woes. If I hear you correctly, if you could DD you would, but since you can't, you need to find an alternative. I can vouch for online accounts. I have online savings and checking accounts, they work wonderfully...and especially for your purpose. Here's a link to one of the more popular ones:

Online checking account - ING DIRECT USA

This orange checking account provides free debit card, no min balance, a tiny percentage of interest on checking, free bill pay, 35,000 Allpoiont ATM's nationwide where you won't pay a fee to withdraw (And even an app to find them!). Paper checks are not free ($5 for 50, free shipping), but you don't need them as you say.

They'll probably want you to open a companion savings account, but there is no (or $1) minimum balance for that.

There are many similar online checking accts out there too, you don't have to go with this one, but it is very popular.
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Old 08-17-2011, 04:15 PM
 
143 posts, read 653,739 times
Reputation: 119
Quote:
Originally Posted by pappy97 View Post
I can vouch for online accounts. I have online savings and checking accounts, they work wonderfully...and especially for your purpose. Here's a link to one of the more popular ones:

Online checking account - ING DIRECT USA

This orange checking account provides free debit card, no min balance, a tiny percentage of interest on checking, free bill pay, 35,000 Allpoiont ATM's nationwide where you won't pay a fee to withdraw (And even an app to find them!). Paper checks are not free ($5 for 50, free shipping), but you don't need them as you say.

They'll probably want you to open a companion savings account, but there is no (or $1) minimum balance for that.

There are many similar online checking accts out there too, you don't have to go with this one, but it is very popular.
What about deposits?
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Old 08-17-2011, 05:04 PM
 
868 posts, read 2,431,454 times
Reputation: 493
Quote:
Originally Posted by jtltke137 View Post
What about deposits?
That's the downside of online banks. For something like an orange checking account that I mentioned, you put money through ACH transfers from another bank.

So I have a BofA Account and then several online banking accounts which are set to pull via ACH from that BofA Account.

Frankly I don't know how you make deposits without another bank account because I never do it that way. I suggest you look into it though.
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Old 08-18-2011, 07:26 AM
 
353 posts, read 822,651 times
Reputation: 607
Quote:
Originally Posted by jtltke137 View Post
What about deposits?
You can mail in checks.

They are coming up with something else, but I don't know what it is. All I know is when I went to the "deposits" section on my account, it said they were coming up with an easier way to make deposits but I could still mail in checks or transfer from another account.
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Old 08-18-2011, 07:30 AM
pth
 
274 posts, read 361,220 times
Reputation: 93
Quote:
Originally Posted by mami2emily View Post
Used to have a Wachovia account in Georgia (now Wells Fargo) and I absolutely positively CANNOT stand that bank!!!! They have more ways of nickel-and-diming you. They even used to charge me a non-Wachovia atm service fee if I was in a supermarket and picked debit at the checkout!
.
this is definitely not true.

Quote:
Originally Posted by gbugmiami View Post
Funny, ive been 'wells fargo' now for only a month or 2.... and... im looking for another bank.
big banks will start charging first, then credit unions. one after the other. its only a matter of time my friend. And the debit card charges are only a test for 5 states. That will burn out.
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