How do you guys avoid high maintenance fees with checking accounts have a minimum daily balance of around $5000 when churning multiple bank accounts? Do you actually leave the $5000 tied up on the account for the duration of getting the bonus or is there another way?
I don't churn bank accounts. Unless I misunderstand what you mean.
You've identified why I don't churn checking acct bonuses. Getting in a d out of credit card accounts is far easier and cleaner.
@Beast26 wrote:How do you guys avoid high maintenance fees with checking accounts have a minimum daily balance of around $5000 when churning multiple bank accounts? Do you actually leave the $5000 tied up on the account for the duration of getting the bonus or is there another way?
Many financial institutions have multiple ways of getting free checking; I have two checking accounts, one for 99% of my financial activity and one because it is a requirement to maintain a CD I have with that institution. That said, I have accounts of one form or another with five financial institutions, all of which offer checking accounts and I don't believe a single one has a blanket requirement to leave $5,000 tied up to maintain free checking:
- Chase
- Chase Total Checking
- Free with a minimum of $500 in direct deposits per statement cycle
- Free with a balance at the beginning of each day of $1,500
- Free with an average beginning day balance of $5,000
- Otherwise $12.00 per month
- Chase Secure Checking
- Free with a minimum of $250 in direct deposits per statement cycle
- Otherwise $4.95 per month
- Chase Total Checking
- Capital One
- 360 Checking Account
- Free, always
- 360 Checking Account
- Navy Federal
- Active Duty Checking (active duty military with direct deposit)
- Free when active duty military with direct deposit
- Otherwise converts to EveryDay Checking
- EveryDay Checking
- Free, always
- Campus Checking
- Free when full time student 14-24 years of age
- Otherwise $10.00 per month
- Flagship Checking
- Free with a minimum of $1,500 in direct deposits per statement cycle
- Otherwise $10.00 per month
- Active Duty Checking (active duty military with direct deposit)
- Pentagon Federal
- Free Checking
- Free, always
- Access America
- Free with a minimum of $500 in direct deposits per statement cycle
- Free with a minimum daily balance of $500
- Otherwise $10.00 per month
- Free Checking
- TD Bank
- TD Complete Checking
- Free with a minimum of $500 in direct deposits per statement cycle
- Free with a minimum daily balance of $500
- Free with a daily combined $5,000 balance across deposit accounts
- Otherwise $15.00 per month
- TD Beyond Checking
- Free with a minimum of $5,000 in direct deposits per statement cycle
- Free with a minimum daily balance of $2,500
- Free with a daily combined $25,000 balance across deposit accounts
- Otherwise $25.00 per month
- TD Complete Checking
@Horseshoez wrote:
Flagship Checking
- Free with a minimum of $1,500 i
n direct depositsaverage daily balance per statement cycle- Otherwise $10.00 per month
Correction on NFCU's Flagship Checking.
@keekers wrote:
@Horseshoez wrote:
Flagship Checking
- Free with a minimum of $1,500 i
n direct depositsaverage daily balance per statement cycle- Otherwise $10.00 per month
Correction on NFCU's Flagship Checking.
Thanks, the dreaded "Copy/Paste Error". 
"How to Avoid Checking Account Maintenance Fees"?? Open a checking account with Credit Union. 🤑👍
Bear in mind that banks keep changing their requirements for waiving maintenance fees.
One of the reasons I prefer credit unions to banks.
