Monday, March 14, 2011


I woke up this morning and logged on to my bank account as I do frequently, checking that my weekend purchases went through and registered correctly. To my surprise, there was a $12 "service fee". Since I deposited my paycheck Friday, there was absolutely no reason any of my recent transactions should have had an issue. So, first thing this morning I called the bank.

Guess what? They are instituting a $12 MONTHLY fee. TWELVE DOLLARS A MONTH. $144 A YEAR. Just for letting them borrow my money? I don't think so! I have had a "free" checking account with Chase for years so I'm a bit pissed.

This monthly fee can be waived, if you have an average daily or monthly (or something) of $5K. Yea right. It also doesn't apply if you have some sort of direct deposit. Well I don't, nor do I have the option to with my current job...I didn't with the job before this, or the one before that....

So, seriously? I'm mad! I have all my bills auto-paid through Chase but I guess now I'll have to switch banks. Any suggestions?!

Grrrrr, indeed.

- Posted using BlogPress from my iPhone


  1. We have PNC and don't have any problems with it. Although we were grandfathered in from National City and likely have the free options that way, plus we use direct deposit. I bet if you talk to your employer family, they'd be able to do direct deposit for you through their bank and your bank.

  2. Thanks to regulation cutting down on other fees they can charge, banks are trying new ways to get revenue. This is a common one. I recommend looking into a credit union or maybe an online bank.

  3. Wow, I didn't realize how spam-y that comment looked until after I submitted it. At least you know it's from me! I just happen to be knowledgeable of this as I work in the field of consumer finance.

  4. I say go for a credit union. mom

  5. Yeah, as PB said, we've been very pleased w/ PNC.
    Good luck!
    Any local banks? They often are more user-friendly, just w/ fewer branches.

  6. Credit union all the way!!! We have one and love it. I am sure there is one in your area that you can join.

  7. switch banks for sure. I believe Wachovia/Wells Fargo has free checking


Life is not measured by the number of breaths we take, but by the moments that take our breath away. Comments warmly welcomed! :-)