[sac-board] Re: Bank One is now Chase

On Wed, 14 Dec 2005 09:52:16 -0700, Albert Stiewing wrote:

> I received notice that effective in February, but subject to fees as early 
> as 1/6/06 our accounts will now be subject to fees.
> We are classified as Business checking Non Profit and will be changes to 
> Chase Non Profit Business Classic Checking.
> Monthly $2.00 minimum service fee or $4.00 for photos of checks ( which we 
> currently get) fee waiver for balances > $4000.
> Bank One Business Saving will be Chase Business Savings.
> No Monthly fee balance > $ 5000 Otherwise $5.00/month.
> FYI - I generally kept the checking account between $1500 & $700. The saving 
> account between $2500 & $4100. We earned $13.03 for 11 months on our savings 
> or $1.18/month.
> I checked with BOA there fees were higher.

So it appears no matter how many account we have, at the present level
(and I'm assuming we will reach the hight point in the next couple of
months) we will have to pay fees.  So instead of $9/month, I choose
closing the savings a put everything in checking.  That will reduce our
fees to $4/month.

> We could close the saving account, sign up for check safekeeping ( limiting 
> our fees to $2.00) move the money to checking and avoid most fees. A quick 
> review indicates that only October and November of this year would have been 
> subject to a fee.and November would have been avoided with a timely deposit.
> 
> The other option is to keep beating on bank doors looking for free checking, 
> although for $15/yr ($13 lost interest & $2 bank fee for a year I don't know 
> if it's worth the effort.
> 
> Current check situation is low, but not critical, as I was waiting for the 
> name change.

Perhaps we can switch to a local bank?

        -Paul

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