Posted: 1/11/2011 6:13:03 AM EDT
It's bad enough they only pay 1% on their savings accounts now they did away with their Free Checking accounts and are charging me $10 a month. Not only that their bill pay service sucks compared to Wachovia's and after repeated requests to have the statements of my 3 accounts synchronized to the same statement cycle they never processed did that even though they said they have so I'm closing my accounts with them. Surprisingly the rep didn't ask why or try to keep me as a customer.
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Quoted:
It's bad enough they only pay 1% on their savings accounts now they did away with their Free Checking accounts and are charging me $10 a month. Not only that their bill pay service sucks compared to Wachovia's and after repeated requests to have the statements of my 3 accounts synchronized to the same statement cycle they never processed did that even though they said they have so I'm closing my accounts with them. Surprisingly the rep didn't ask why or try to keep me as a customer.One of the largest banks on the planet? some how I dont think they care 
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I'm looking at doing the same. I had a substantial amount of cash in HSBC for my emergency reserve, but as my job became much more secure, I have been drawing it down and paying down mortgage ahead and schedule.
I am thinking of liquidating it entirely and putting a big chunk into the mortgage. |
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Dang I've had free checking there for nigh on 20 years. I didn't notice anything in my last statement about paying $10 for checking. I'm going to look right now though.
I would have no heartburn closing and going to one of my other accounts. My method is to use one bank for checking and transactions and another completely seperate bank for savings. That way my savings are I hope insulated from threats. I call it my single blind banking method. ETA - I didn't see anything on my last statement, did you get an email or letter informing you of the change? Perhaps they charge the fee w/o a certain minimum balance. Many banks have done that for years. |
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Quoted: Credit Unions FTMFW! Banks are too busy buying each other up and then cashing in by charging tons of new fees to the acquired banks' existing customers. The Credit unions I've had dealings with in the past are no better than your average brick and mortar bank. In fact they have even more fees. The only plus to the credit union is it's eaiser to get an unsecured line of credit or loan of some kind. Not something I need. Online banks seem to have better offerings however I need local ATMs for depositing cash/checks and they don't always have those. |
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Quoted:
It's bad enough they only pay 1% on their savings accounts now they did away with their Free Checking accounts and are charging me $10 a month. Not only that their bill pay service sucks compared to Wachovia's and after repeated requests to have the statements of my 3 accounts synchronized to the same statement cycle they never processed did that even though they said they have so I'm closing my accounts with them. Surprisingly the rep didn't ask why or try to keep me as a customer.Ok, then price out Wachovia's rate on savings... 
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Quoted: Quoted: It's bad enough they only pay 1% on their savings accounts now they did away with their Free Checking accounts and are charging me $10 a month. Not only that their bill pay service sucks compared to Wachovia's and after repeated requests to have the statements of my 3 accounts synchronized to the same statement cycle they never processed did that even though they said they have so I'm closing my accounts with them. Surprisingly the rep didn't ask why or try to keep me as a customer.Ok, then price out Wachovia's rate on savings... That's only 1 of the gripes I have with them. |
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ALL banks are going that way. My wife's bank is eliminating all but 4 types of checking accounts. TC Not all. The ones that don't will benefit. My bank is still offering free checking but has added fees for overdraft xfer protection, and they now don't refund ATM fees unless you pull out at least $100. They're trying to find a way to get rid of free checking if possible. However, take a quick gander at the online banking accounts at places like ING and Ally Bank and you'll quickly see tons of freebies and nice paying interest rates on MM and savings. They also let you transfer between that account and other banks for free. Additionally opening the accounts can be done entirely at your computer and the process is slick and easy. This type of banking is the future. The retail branch banking centers will not be able to compete. Especially as they find more creative ways to make up for the lost fee income resulting from the Financial Reform bill. |
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I closed my Region's account last year, and the rep didn't ask why. If one of my customers came in an withdrew all of their money, closed the account they've had for 8 years, the first thing out of my mouth would be 'why'. Of well, screw them- I'm much happier with my local bank. |
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what kind of APYs are you guys getting on your savings accounts? My credit union is down to 1.65%, it used to be 2+% not long ago  That's an excellent rate on a mere savings account. Here's a great website for reference of who's offering the best deals online: http://www.depositaccounts.com/savings/ |
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I kicked Chase to the curb this month and went to a credit union. They wanted $12/month for checking. My wife and I have 3 checking and 3 savings accounts at Chase. Combining all the accounts gets us over the $5k minimum to avoid the fee. When I went into the bank to ask why the $5k wasn't being seen I was told it's because the accounts weren't linked. I asked that they link the accounts. The software wouldn't let them link the accounts. The lady suggested I open 6 new accounts with Chase instead of using my absorbed WAMU accounts. I told her no thanks and gave her a heads up I'd be liquidating my accounts in 3 days. |