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I am not passing judgment on anyone, only stating my experiences. I have never paid a fee to any bank and, if I'm unhappy with its service, I close my account.
I feel badly for people who can't keep enough money in their accounts to avoid fees, since it's usually not their fault, but there are often local banks and credit unions with no-fee checking. Look for them in your area.
The only reason I keep WF is because it's convenient. Frankly, I don't like big banks, but I also don't want to change my direct deposit accounts and there's usually a WF on every corner where I travel. When I first opened my checking account in FL it was when they offered $100 cash and a free safe deposit box. I think that was Wachovia and it was taken over by WF. The next year I opened up a small savings account with a minimum of $300 to avoid fees. Then I had to choose a service like bill-pay, a debit card or transfer $25 a month from checking to savings to avoid fees. Now I think I get enough direct deposits to waive fees, but if they start asking me to stand on my head and cluck like a chicken, I'll finally get fed up and change banks.
Being loyal doesn't count. You might get a bigger smile from a bank rep, but don't expect anything else. I've had a Citi card since the mid 1970s and I'm sure if I missed a payment or paid late, I'd be hit with the same penalties as someone who just opened her account.
But you did know you had overdraft protection!
From post #1...
The savings is linked as in you had to have another qualifying account to avoid fees on the checking account. I've had the savings since the mid-90s and did not have a checking at Wells until the eary 2000s. I used Schwab checking before that.
Anyway, wells was simply used for check cashing/deposits. Now that you (and potential ID thieves) can guestimate my age range from when I opened the acct. , I and maybe other middle-age Americans never accepted the mobile banking thing. I like and trust the hard copy uploaded into the ATM or with the teller. I guess this dog might have to step out of its wheelhouse.
The savings is linked as in you had to have another qualifying account to avoid fees on the checking account. I've had the savings since the mid-90s and did not have a checking at Wells until the eary 2000s. I used Schwab checking before that.
Anyway, wells was simply used for check cashing/deposits. Now that you (and potential ID thieves) can guestimate my age range from when I opened the acct. , I and maybe other middle-age Americans never accepted the mobile banking thing. I like and trust the hard copy uploaded into the ATM or with the teller. I guess this dog might have to step out of its wheelhouse.
RE: 2000? It's 2015. Often banks send notices informing current account holders of changes to their accounts. I'm not defending WF, since IMO all large financial corporation are greedy & corrupt, but if you have accounts in a bank, you need to be aware of the fees. I mean, if you got stopped by a cop and didn't have insurance (if required in your state) would you complain that nobody told you?
BTW I think I have the same type of accounts. Read the requirements. Having a savings account is not the only requirement to avoid fees. I have a checking & savings account. There are minimum requirements and you need to meet 1 or 2 of them like a minimum balance, direct deposits or transferring $25 a month to savings. There are other choices like making 10 debit card purchases, but I never use my debit card to make purchases, only to withdraw or deposit money.
Oh, I'm 64 years old. I opened up my current checking and savings account in Florida. My name is Nancy.
What a great idea. I'll just magically become eligible to join a different credit union. Thanks for the tip.
It's not magic, most CU's include living near them as eligible. Also employment, church memberships make you eligible for some CU's. Besides those obvious ones, MANY will allow you to join a group for a nominal fee (one time) and you are in. Two that pop into mind are Penfed and Alliant (Chicago) which probably has the best ACH service on the planet (get it in by 10:30 Central Time and its next day).
With the exception of Navy, you can usually find a way in with every CU.
I don't need to join another CU. I get all of the banking services I need for free. If something changes, I will re-evaluate at that time.
Sorry, when you said this:
Quote:
It all depends. My credit union wants a 3% fee to deposit coins into my savings account. My big bank does not. My big bank gives me free checks, free cashier checks, a free safe deposit box, free notary services, and foreign ATM fee reimbursement. My credit union does not.
It sounded like you were arguing banks versus credit unions. Several of us said you were comparing your sh*tty CU with normal banks. We offered that you might try a different CU. You said (wrongly) that you weren't eligible for any other CU. We countered that CU's are insanely easy to join. Now you are back to you don't need another institution.
This is why I'm getting away from internet forums. The debates always end with people wanting to prove they are right. No one wants to learn anything anymore.
It sounded like you were arguing banks versus credit unions.
Nope. You might have been arguing that, but she was saying her bank offers everything she needs, and that she does not need to research CUs.
I feel the same way about my bank as she does about hers!
And I cannot join other CUs in my area either ... they are for to employees and their families only.
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