(Closed) any bank expert bees?

posted 8 years ago in Money
Post # 3
103 posts
Blushing bee
  • Wedding: September 2011

A lot of smaller banks offer lower minimum balances.  I work for a smaller bank in Indiana and our minimum balances are 1000, which is less than Chase and some other larger banks.  We also have it where if you just have 10 transactions a month you dont have to meet the minimum balance.  I know that credit unions have great programs usually but you typically do not get the perks like online/mobile banking due to their size.  A lot of banks are wanting the whole relationship now, so checking, savings, and pretty much anything else.  That is a great way to not have minimum balance.  A lot of places will waive the minimum balance if you have a related savings account.  It will be harder to find “free” accounts because banks are losing a ton of fee income. 🙁 I hope that helps.

Post # 4
18637 posts
Honey Beekeeper
  • Wedding: June 2009

I don’t know any specific to your area but try to look into local credit unions.  We belong to one and don’t have any fees, plus they usually have better rates than the big banks.  I don’t have a minimum balance, or a number of transactions that I need to make in a month to pay less.

Credit unions are owned by the members instead of shareholders like regular banks.  There isn’t much difference with them otherwise.

It is pretty easy to join them, we qualified based on where we worked and at our old one, it was basically anyone living in the area.

You can find one here: http://www.ncua.gov/

If you have questions, feel free to PM me!

Post # 5
14183 posts
Honey Beekeeper
  • Wedding: June 2009

I use U.S. Bank and my checking account has dipped below $100 and i’ve never been fined. I also don’t have to have direct deposit. I don’t know if you have one out there, but I’ve been nothing but pleased with them.

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