Re: thinking about switching to an online bank.
01-24-2013 01:21 PM
I have Chase checking as a convert from WaMu. It's pretty terrible. I'm in grad school so I don't have direct deposit so I'll get hit with a $12 fee every month the funds in my account fall below a certain amount (I forget what it is). Having been with Chase for 4 or so years, I've probably paid around $100 in fees because of that. I never paid a cent to WaMu. I've heard free checking is hard to come by now because of the overdraft fee legislation.
Also, Chase checking draws no interest and their savings account interest is .1 percent (which means you'll be getting pocket change every month in interest). I should have switched, but I appreciated the convenience of Chase (their branches are EVERYWHERE in NYC and Chicago, the two cities I spend the most time in) and I'll have direct deposit permanently in a few months.