CobyRupert
Super Member
Ah yes, remember the days when banks made money FOR you, not FROM you.
When Free Checking is no more... after 66 years...
- Thread starter ultrarunner
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deerseeker001
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that's exactly what I was thinking when I first read this.
bumperm
Veteran Member
I closed my B of A accounts when they donated a significant sum of money to BO's campaign and other similar causes.
bumper
mark02tj
Platinum Member
Another vote for credit unions! I opened my first account with the credit union a little over 40 years ago when I got my paper route. Been with them ever since although not exclusively with them. I've done financing with other institutions for various reasons. Also, I had business accounts with banks since credit unions traditionally did not offer any business services.
About 10 years ago I found out that my credit union was offering small business accounts - for free!! So I closed my accounts ($12/mo back then) with the big-bank and moved them to the credit union. The only hiccup was processing payroll tax deposits so I still did that at the bank until I got rid of my last employee.
The only issue I still run into from time to time is that the tellers are still not used to dealing with business transactions. Sometimes they want to "hold" a customer check but I finally got one of the managers to put something on my account instructing them to not do that.
About 10 years ago I found out that my credit union was offering small business accounts - for free!! So I closed my accounts ($12/mo back then) with the big-bank and moved them to the credit union. The only hiccup was processing payroll tax deposits so I still did that at the bank until I got rid of my last employee.
The only issue I still run into from time to time is that the tellers are still not used to dealing with business transactions. Sometimes they want to "hold" a customer check but I finally got one of the managers to put something on my account instructing them to not do that.
OP
ultrarunner
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Update:
Went in today to close the account... no complaints... simply said being charged for checking is not going to work for us.
Had tried to close it two previous times but the wait for customer service was too long to do over a lunch break.
Anyway, the person looked it up and said it was the oldest account he had seen in his 13 years... asked why we were closing and I told him $300 a year for something that was supposed to free was not going to work for us.
He made a couple of calls and said as long as there is a $1,000 minimum balance... we should not be bothered anymore and he reversed the $25 fee.
Was not expecting anything and left the branch satisfied pleased.
He said we have to take care of loyal customers...
Went in today to close the account... no complaints... simply said being charged for checking is not going to work for us.
Had tried to close it two previous times but the wait for customer service was too long to do over a lunch break.
Anyway, the person looked it up and said it was the oldest account he had seen in his 13 years... asked why we were closing and I told him $300 a year for something that was supposed to free was not going to work for us.
He made a couple of calls and said as long as there is a $1,000 minimum balance... we should not be bothered anymore and he reversed the $25 fee.
Was not expecting anything and left the branch satisfied pleased.
He said we have to take care of loyal customers...
oosik
Epic Contributor
I bank with a local bank and everything, including checks, are still free. Been with this bank for 32 years and they know me well. The local credit union has merged with a large nationwide credit union and would be the same as being with B of A.
MoKelly
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ultrarunner
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- Cat D3, Deere 110 TLB, Kubota BX23 and L3800 and RTV900 with restored 1948 Deere M, 1949 Farmall Cub, 1953 Ford Jubliee and 1957 Ford 740 Row Crop, Craftsman Mower, Deere 350C Dozer 50 assorted vehicles from 1905 to 2006
It made the folks happy... it's hard when everything you know keeps changing!
