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Where is Free Checking?


Aunt Jen

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HI guys n gals,

 

I've been at Wells Fargo for years with Free Checking. It doesn't pay for me to have them give me any interest, because my amounts are so low that it costs me more to have the accountant deal with it than the money they give me.

 

So I have Free Checking.

 

But beginning next month, they want to start charging me $7 a month to have the free checking.

 

To me, it's like I've been making them a no-interest loan every month, as they use deposits as part of their capital in running the bank, and now they want to charge me to have my money there?

 

So......... Does anyone know where I can get free checking, without having to pay for it?

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Ok. So I started looking at S&Ls.

 

I need:

 

1. no interest paid to me (as it would be less than what my accountant would charge to deal with it), and

 

2. no fees charged for having the account.

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AJ,

 

I read a story a week or so ago and if I find it I'll link it for you. The gist of it was that free checking is slowly going to be going away as banks look for any source of income they can find. You may want to look for a local credit union. I am a member of one and still have the checking with online bill pay and a debit card all with no charge at this time.

 

And HERE is that link.

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Hmmmmmm. I checked with a credit union and they said they would have free checking wiht me, but they want to hold deposits for a week or so before releasing them to me. Until I earn my wings with them, an undisclosed list of details.

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Interesting...

 

I just had the opposite happen with Wells Fargo.

 

Went in to give 'em my new address, and the young man at the desk said "Ya know, you're paying us $7 a month for checking... and you don't have to!

 

"Since your paycheck is already automatically deposited, let us set up to do a $25 transfer once a month from your checking account to savings account, and there'll be no more fees! OH... and you can always transfer the $25 back, if you want..."

 

Yippee... Free Checking! :lol:

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I've experienced some of the same, BUT it appears that most of the banks are still providing free checking if you meet some special criteria (like Hardpan's example above). For me, I needed to become a "Preferred Customer," which included so many online transactions per month, etc. I run my business stuff through them as well (4 accounts total), so they worked hard to insure that I wasn't going to get the $8/month charge. Bottomline, it's still out there, but you have to hunt for it. I'd start with the bank I was doing business with. If they want to keep me as a customer, they'll find a way to work it out.

 

Chick

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+1 on Wells Fargo. I have my paycheck electronically deposited and have a small amount transferred to what is, essentially, a savings account....VERY SMALL interest accrual. That gets the free checking. I do not hardly darken their door which is fine for me and fine for them. I finally learned that I could "cash" checks at the ATM by electronically depositing the check and then taking that amount out of the ATM. Only thing is you have to have enough in your checking account to allow the deposited check to clear....I don't have much and any little checks I get aren't much so its not too hard.

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HI guys n gals,

 

I've been at Wells Fargo for years with Free Checking. It doesn't pay for me to have them give me any interest, because my amounts are so low that it costs me more to have the accountant deal with it than the money they give me.

 

So I have Free Checking.

 

But beginning next month, they want to start charging me $7 a month to have the free checking.

 

To me, it's like I've been making them a no-interest loan every month, as they use deposits as part of their capital in running the bank, and now they want to charge me to have my money there?

 

So......... Does anyone know where I can get free checking, without having to pay for it?

 

Send me your money and I will pay your checks, if you send me enough money to do so. I will not charge you a fee to do this. I will not charge you interest. I might travel some though. :rolleyes:

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AJ,

 

I read a story a week or so ago and if I find it I'll link it for you. The gist of it was that free checking is slowly going to be going away as banks look for any source of income they can find. You may want to look for a local credit union. I am a member of one and still have the checking with online bill pay and a debit card all with no charge at this time.

 

And HERE is that link.

+1 for Credit Unions. I have two different accounts with two different credit unions and I have free checking at both. One of the accounts is my e:prey account. I keep very little money in there and I still have free checking......

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I've been using a credit union since '87. The only drawback is, it's in Washington and I'm in Oklahoma. It used to be Weyerhaeuser Employees Credit Union, but when Weyerhaeuser started downsizing, they didn't want their name on anything that didn't have to do with timber. So the credit union is now Red Canoe Credit Union.

 

I don't understand your accountant deal. I get an income form every year for earned interest and just put it in with all my other W-2 (or whatever form it is) when I figger my taxes.

 

A new car is just a phone call away! :lol:

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I have been at Bank of America since about 1968. I have free checking, free online banking and free stuff. (they messed up on my wifes account so we went into complain, and the lady set her account up to a premier account, and immediatley refunded to her $25 in account fees and now she gets free everything including checks, money orders, cashiers checks and all that stuff. I had pulled a "4Trod" and threatened to pull our our THREE checking accounts, savings account and a home mortgage. She was willing to give me the keys to the vault, well almost...

 

curley

 

(she really laffed when I told her I actually prefered to keep my cash in my safe, and not theirs.

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HI guys n gals,

 

I've been at Wells Fargo for years with Free Checking. It doesn't pay for me to have them give me any interest, because my amounts are so low that it costs me more to have the accountant deal with it than the money they give me.

 

So I have Free Checking.

 

But beginning next month, they want to start charging me $7 a month to have the free checking.

 

To me, it's like I've been making them a no-interest loan every month, as they use deposits as part of their capital in running the bank, and now they want to charge me to have my money there?

 

So......... Does anyone know where I can get free checking, without having to pay for it?

You can get free checking at Wells Fargo IF ya do the following:

 

Open a checking AND savings account. Savings has to be opened with $100

 

Set up an auto deposit of at least $25 each month from the checking to the savings.

 

You can then set up an auto transfer to transfer the $25 back into your checking...

 

Ya gotta keep at least $100 in the savings account tho.

 

OR go to a small local bank, seems they are the last to have truly free checking.

 

You have a few more options once ya turn 60...

 

JJJ-D

:ph34r: :ph34r:

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HI guys n gals,

 

I've been at Wells Fargo for years with Free Checking. It doesn't pay for me to have them give me any interest, because my amounts are so low that it costs me more to have the accountant deal with it than the money they give me.

 

So I have Free Checking.

 

But beginning next month, they want to start charging me $7 a month to have the free checking.

 

To me, it's like I've been making them a no-interest loan every month, as they use deposits as part of their capital in running the bank, and now they want to charge me to have my money there?

 

So......... Does anyone know where I can get free checking, without having to pay for it?

 

 

Wells Fargo started charging me for chequing. I inquired and found that if I had a savings account and a $ 25 pr month auto transfer from chequing into the savings that my chequing would again be free. Has worked Ok.

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Interesting...

 

I just had the opposite happen with Wells Fargo.

 

Went in to give 'em my new address, and the young man at the desk said "Ya know, you're paying us $7 a month for checking... and you don't have to!

 

"Since your paycheck is already automatically deposited, let us set up to do a $25 transfer once a month from your checking account to savings account, and there'll be no more fees! OH... and you can always transfer the $25 back, if you want..."

 

Yippee... Free Checking! :lol:

 

 

 

:lol: +1 :FlagAm:

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