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I just got off the phone with Security Service Federal Credit Union (SSFCU). I'll go in person today to upgrade from a "Merit" checking account (my current account status) to a "Classic" checking account with SSFCU.
Early next year before Bank of America (BOA) starts charging $5 a month for debit card usage, I'll take my money out of BOA (I have $3,500 in there right now) and I'm putting it all in SSFCU.
Credit unions are the way to go! Forget these "too-big-to-fail-banks." I'm leavin' them for good even after I sang the praises of BOA for so long.
BOA started charging my Dad $12.00 a month for his "free" checking account about 3 or 4 months ago (with no notice of any kind). He should have been "grandfathered" into the free account (along with myself) that he signed up for but BOA automatically started charging him since he did not have any direct deposit setup or a minimum balance of 1,500 in his account. They refunded him $36.00.
Long story short: they converted his "My Access" checking account to an electronic account so that he will have a "free" account, but he can never go in to a BOA branch to do a deposit or a withdrawl (with a teller) because he will be charged. He can only make deposits and withdrawls from BOA ATMS.
Bye bye, BOA. My love affair with you is over. I'll miss the convenience of having a BOA ATM at any Valero store in this city. SSFCU has like zero ATMS in this city, but they are the better deal so I'm stickin' with them!
This must be my year for change.. Last week I finally got rid of sprint and switched to Verizon and now I'm actively looking for a new bank. I had been with sprint since they first started in San Diego and have been a "valued customer" with B of A since 1993, but it's time to part ways with both. Actually, it's way past due, but I'm finally doing it/did it. I should've got rid of B of A when they started actively seeking out criminals for customers, but I have so many things tied to them. It will take a lot of effort to move everything around, but I'm repulsed by them now, though, and hopefully they fail. Of course we'll have to wait until there's no longer that too big to fail thing we're currently cursed with, but that things days are numbered too... If I worked for them, I would definitely be seeking work elsewhere. Hopefully them and some of the other big boys will be crashing down soon. Good riddance to them too!
One of the reports I heard on the news said the proposed fee will apply to customers who have the "Basic" checking account, but will not apply to "Premium" accounts.
The question is, what defines "Basic" and "Premium". I have linked checking & savings accounts at BoA, and so far have not been assessed any monthly fees. I could always move my deposits over to a credit union where I have an account, although the credit union isn't as convenient, and doesn't have nearly as many ATMs.
One of the reports I heard on the news said the proposed fee will apply to customers who have the "Basic" checking account, but will not apply to "Premium" accounts.
The question is, what defines "Basic" and "Premium". I have linked checking & savings accounts at BoA, and so far have not been assessed any monthly fees. I could always move my deposits over to a credit union where I have an account, although the credit union isn't as convenient, and doesn't have nearly as many ATMs.
Premium = 'Advantage' account. Daily balance of $5k+. If you can keep that, there are no fees of any kind.
Man, I'd be out the door so quick after closing down the account that nobody would believe an old lady could move so fast...IF my credit union did that to me! DH and I talked about it yesterday. IF ALL of the banks and credit unions were to put that in place...well, I'd do without those darn cards! We didn't have such cards before and we could do without them now rather than spend a fortune for the "convenience" of using them.
We closed our BOA account last year as they really seemed to hate active military personnel who were stationed abroad. They started adding random charges, would block the account from use at random times (despite living abroad for 4yrs and for the first 2 of those years we had zero issues!) and their customer service was TERRIBLE.
We switched straight to USAA and we're sticking with them for good.
I used to use my debit card (Wells Fargo) all the time as I hated carrying cash (more inclined to spend cash on petty things like coke and candy). Now I use credit cards.
But, to be honest, there's no reason to not use credit cards if you pay your balance in full every month. Credit cards offer more consumer protection against fraud and things like extended warranties and free insurance, on top of the ability to delay payment for 15-30 days of float. More importantly, you get so many rewards by using your credit cards to pay off your monthly bills like free airline tickets, retail gift cards, cash back, etc.
i left when they started letting illegals have credit cards
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