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No more free checking?

January 12th, 2011 at 03:57 pm



Chase bank announced it will start charging its former WAMU customers, a checking account service fee of $10, starting on February 8, 2011. The Chase Free Extra Checking account will be converted to Chase Total Checking (or Chase “Total Ripoff”).

To avoid the $10 monthly service fee, you have to meet one of the following criteria:

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Posted in Saving Money | 8 Comments »

8 Responses to “No more free checking?”

  1. North Georgia Gal Says:
    January 12th, 2011 at 06:26 pm 1294856787
    1294856787

    That is an outrageous amount! I think I would be looking for another bank!

  2. patientsaver Says:
    January 12th, 2011 at 07:30 pm 1294860654
    1294860654

    i would definitely look elsewhere.There's no need to pay a fee if you don't want to.

  3. scfr Says:
    January 13th, 2011 at 01:37 am 1294882679
    1294882679

    Chase what matters ... Chase it all the way to another bank.

  4. Fanny Says:
    January 13th, 2011 at 01:39 am 1294882783
    1294882783

    LOL @ scfr. I am definitely reviewing options of other banks.

  5. M E 2 Says:
    January 13th, 2011 at 02:52 am 1294887133
    1294887133


    Most, if not ALL banks are expected to enact account fees. This is due in large part to the sweeping banking reform which apparently has cost the banks too much money which they of course must somehow recoup. @@

  6. jewels3 Says:
    January 13th, 2011 at 03:19 am 1294888772
    1294888772

    We love Chase. We have 2 accounts with them, one meets the direct deposit guidelines, the other we just need to use our debit card 5 times a month. Otherwise our fee is $6. We "make" approximately $100 a year on their rewards debit card, just for spending money we would have ordinarily spent anyways. But ours is a regular Chase account, not a former WAMU account.

  7. skydivingchic Says:
    January 13th, 2011 at 03:20 am 1294888843
    1294888843

    DBF and I went to Chase this weekend and closed our checking accounts precisely because of this fee. The lady gave us the song and dance about ways to avoid the fee. We told her that what we signed up for and what they are offering are two different things and we aren't interested. Then she started in about how all banks are starting to implement fees due to the banking reform. I think it is just a scare tactic by the large banks to keep customers. We promptly opened checking accounts with the local credit union. I will keep my eyes open for more fee notifications from the CU and my other financial institutions, but I don't really expect to see anything.

  8. Jerry Says:
    January 14th, 2011 at 06:04 pm 1295028274
    1295028274

    If my account did not lead to free checking, then I would leave in a heartbeat. There are plenty of other reliable institutions that offer free checking. We go through USAA for both our banking and insurance, and it is great. Until people stand up and say NO MORE, and vote with their wallets, companies will nickel and dime them to death.
    Jerry

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