FC Community
Discussion Boards => Off-Topic => Topic started by: Stealth3si on February 25, 2011, 05:53:04 pm
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Does free banking still exist today for California residents?
I recently had to close my Chase bank account because I couldn't afford the monthly fees and didn't qualify to waive them so now I'm looking for another bank, online or physical, that offers a basic checking account that is either fee-free, where there are no ATM withdrawal/deposit fees, or "free" where fees can be waived with regular withdrawals or deposits.
Does anyone know of such banks for CA people?
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I live in Ohio, so have no idea about the banks where you live. Here I go to a FIRST MERIT, they offer total free checking with free checks, plus you get a nickle for every auto deposit, or debit use.
I would think you could ust go throug the pjone book, call your local banks & see what they have to answer. Our Senior building where Ilive has a Resident council - we have fund raisers etc & that acoount is a brach of where you bank. They have a $12.00 per month service fee, also we have to buy the checks, so we are in the process of switching banks. I refuse to pay to let someone use & hold my money.
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Does CA have credit unions, they do not charge fees. (I think)
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I am currently with Chase and as long as you have Direct Deposit, they will not charge you for banking there. I do no use my ATM card so I don't know how those fees are related. I would go back in and talk to someone again.
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I used to have chase and i never got charge a monthly fee at all. What is your account, why not do like a free checking. Theres no fees for that account. Any bank i have been with have never been charge a fee for free checking. Now if you overdraw on your account then theres fees.
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I think it depends on what kind of account you want to open. I suppose you can open an account with banks like Bank of America and have an online account only. Everything will be free. make sure you choose paperless (online banking)
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I think it depends on what kind of account you want to open. I suppose you can open an account with banks like Bank of America and have an online account only. Everything will be free. make sure you choose paperless (online banking)
This is what I use. I don't mind not going into the bank. I saw in several articles that banks are slowly doing away with free checking due to the new government regulations. Wish ya luck!! :icon_rr:
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My son and daughter-in-law just changed from Chase because of the fees they are now being charged. There are Credit Unions in California. Addison Avenue just merge with First Technology Federal Credit Union out of Beaverton Oregon. I have been with 1st Tech for years and they are wonderful. They have a web site where you can read about them. Those with accounts are members and the members have the right to vote to make major changes like adding checking account fees. They have ATM/debit cards, visa card, online bill pay, checking and savings accounts and to much more to list. I have traveled all over the US, including Alaska and never had a problem finding a free ATM as most credit unions are connected. The great part about credit unions is that they are in small towns that large banks like Chase and BOA are not in. They are also insured just like a bank. More people should check them out and if your into borrowing their interest rate is lower on loans and credit cards.
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I never trust free banking...my bank says free checking account and then i always get charged fees and i have to call them up all the time!...good luck
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I have an account called ebanking (a checking account) with bank of america and it's free!!
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I dont think there is really any such thing as free banking any more no matter where you bank the federal regs have changed. If you use an non-bank ATM your bank is gonna charge you a fee.
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Do you have Integra banks there? I use them for free checking.
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I use Wachovia and have no monthly fees.They have a free checking acct.
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Free banking! Where? All banks charge something!
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I don't know about California, but I belong to a credit union in Michigan and we have free banking there. We also have free checking which is very nice.
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a dream!
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a dream!
Really? I have had dreams that were also real. So is this idea possible?
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I don't know about California, but I belong to a credit union in Michigan and we have free banking there. We also have free checking which is very nice.
I've heard one in my city but I haven't checked it out yet. I will thanks.
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I use Wachovia and have no monthly fees.They have a free checking acct.
Do they have requirements like Chase?
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I live in Colorado...not too familiar with California banking laws. Out here I have been paid to open checking accounts with direct deposit and have had no fees. Last year I opened ten accounts with ten direct deposit set ups from two jobs that I was working at and managed to net an extra $1,000.00 from incentives. I set up two separate accounts with Chase and they were the best two accounts because they delivered the quickest.
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The federal government controls the banking laws. They also control the credit unions. In addition they insure both for the same amount. Banks are a for profit company. Credit Unions are a non-profit company. Any money the credit union makes goes back to the members in the form of lower interest on loans and more free stuff.
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im in florida, sorry
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u dont have to close ur chase account. u should have had direct deposit. that would make it free. even if u just have money coming in from here. have that direct deposit.
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Bank of America
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Seriously if it were really Free banking, you would have to be able to open an account with no initial deposit.
I know that sounds stewpid but if you consider the actual definition of "free"(below) then you really understand there is no Free Bank around your location on this planet. Only free banking I know of is in Heaven.
Definitions of free (adj)
free [ free ]
1. costing nothing: requiring no money to be paid
2. not kept prisoner: not, or no longer, physically bound or restrained, e.g. as a prisoner or in slavery
3. not restricted in rights: not subject to censorship or control by a ruler, government, or other authority, and enjoying civil liberties
Synonyms: liberated, unbound, freed, released, set free, emancipated]
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I've used US Bank for the last 3 years. So far I haven't had to deal with any new fees. Fingers crossed that they don't do away with their free checking accounts.
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I use USBank too, which should be available in California. You have to pay for checks and stuff, but there are no fees and no minimums for the account I have. It doesn't earn interest, but then again most checking accounts earn none to almost none anyway.
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There's always a catch to free banking to get you into the door. Some banks in CA you might want to check out are B. of America, W. Fargo, and B. of the West.
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I live in NYC. My original bank was Washington Mutual which always offered free checking/savings. When they went under Chase picked them up and they also continued with the free accounts. But now after 2 years or so Chase has brought back their fees. They offer you some ways to make it a free account but if you don't meet the requirements then get ready to get hit with fees.
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Just wanted to update this thread, so that others can know there are alternatives for basic free checking accounts with no fees.
1. USAA
2. M&T
3. BoA
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Really dont think free banking is free. Just something to get you going an joining their bank. So they can use your money for other investmentan projects. :BangHead: :dontknow:
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Well I use INGdirect. It is online and doesn't have any fees as far as I know although checks cost more but it is great as a debit card.
Credit Unions are also a good way to go if you can find one since they usually have no fees and better benefits.
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I remember when my mom convinced me to put my monies in the bank with a checking account. $2000.00 kept going down each month! I think the bank was called capital bank & this was around the late 80's early 90's. I finally decided that I'm not getting any interest, they just take money out of the account. Here I am trying to save money & practically living on the bare min & the *bleep* bank is taking money out of the account every month! I withdraw what was left of my monies about $1050.00. Was so pissed off at my mom & that bank I wanted to scream. I should have known not to listen to my stupid mother w/out researching the bank first. I learned that, that *bleep* bank was making me pay a fee every month to hold my monies in the bank! *bleep*, if I knew that, I'd put the money under the mattress like grandma did. How sleazy, charging me for them to hold my monies w/no interest. What were they going to do after they spent all the monies for holding my monies, no interest no way to produce some kind of income, no more monies for them to hold in their bank. Today, older, wiser,& have a big sis that's senior vic-president of Bank of America in Miami, my monies are earning the best interests! My sis would find banks with really high interest but usually have to have a large amount of money in you're account. I have 3 bank accounts 2 online, the third is my local credit union. The interest isn't much but .05% is better than .0001%. My husband died 2yrs ago, the life insurance had to go somewhere, so my sis directed insurance money to online banking with really high interest returns! Ally bank online has a 2.99% interest rate! I get back about $10-20 monthly depending on the interest earned basically for just holding my monies in their bank!The 2nd online bank is first Arkansas bank trust & the interest is 3.99%-4.99! I have to do perks as 1 of their conditions. Each month, I have to purchase 10 items using the FABT debit card! Every month I earn interest of around $60 to 100 just to spend on 10 items each month. Sorry, Had to vent, the bank still makes me mad as hell! Anyway, I'll ask my Big sis, about free banking. etc :wave:
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I am in Michigan. I used to have a free checking account with Independent bank. Since I moved off campus I changed to a credit union where the only fee that I pay is when I have a low balance in my savings. its like $3 every 3 months.