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Does anyone know any banks that will not charge a monthly fee?
I am 19, and I work as a nanny. I am saving up to start college this fall. I am currently with Chase, and I had a high school checking account, and now that I have turned 19, they changed my account to a total checking account. If there isn't $1500 in my account for even a day, they charge $12 a month. I cannot and will not be able to save up that much money, as I travel a lot. And I DO NOT want to pay $12 a month. That adds up to $144 a year, which could go towards traveling or college.
So my main question is, does anyone know ANY banks that don't charge a monthly fee, even if you don't have a certain amount of money in the account?
The new card they sent me to activate my new total checking account will automatically be activated in less than 30 days, and I need to close my Chase account before then, and I want a good bank to keep my money in.
Thank you for any information in advance.
7 Answers
- ShayLv 77 years ago
If there is a Wells Fargo bank in your area, check on their accounts. I have a checking/savings account combination and use their online bill pay. I pay NO monthly fees for the package I use. The only thing I pay for is my blank checks when I need more checks.
To qualify for the package I have, it does require direct deposit of a payroll check. So, depending on how you get paid, you may not qualify for the package I have. However, it doesn't hurt to ask about their other account types. They may have something that works for you.
Minimum balance required is $0 in checking and $1 in savings.
- D.E.B.S.Lv 77 years ago
Just did a quick search on 'fee free checking' and came up with this website.
http://www.nerdwallet.com/checking-accounts
I would read the details carefully. If they don't charge you a monthly fee they'll likely find other ways to get money out of you. Low balance accounts are not profitable for them otherwise.
- Anonymous7 years ago
Banks are again trying to charge customers a monthly fees unless you keep $1500 in a saving account. I understand that credit unions do not require as much as banks do but the only way you'll know is by calling.
Source(s): Retired bill collector 35 years - StephenWeinsteinLv 77 years ago
If you just need a bank to keep your money, then you don't need a checking account. The balance requirements for a "savings" account are usually much lower (I think it's $300 at Bank of America, but I don't recommend that bank for other reasons.)
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- SumDudeLv 77 years ago
first, Chase has a free account for college students program.
secondly, who cares? - go find a credit union or small town bank that will work with you and for you.
Source(s): I went to a credit union when Chase wanted to charge me fees. Never regretted it. - ?Lv 77 years ago
dozens of banks do not charge for basic
checking saving accounts.
depends where u live.
visit websites for local banks,
credit unions to learn b4 getting burned.
- TriciaLv 77 years ago
to qualify you generally need a minimum balance maintained at all times and it is relatively high. banks vary, you need to check with each. some savings have same type of offer. chase does and you earn interest too.