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Chase, US Bank & Other Big Banks Exploring New Checking Account Fees

Saturday, February 19, 2011 - 6:11 AM
Wall Street Journal article provides another review of the new checking account fees that the big banks are starting to introduce. Here are some noteworthy excerpts which show that banks are preparing for the debit card regulation.
Chase, which has launched the tests in some of its smaller markets such as northern Wisconsin and Atlanta, is one of the first banks to explore monthly fees on debit cards.

[...]


U.S. Bancorp, which recently warned that it is also planning to overhaul its accounts, this week stopped providing rewards programs to new debit-card customers.

3
Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
Rep Points: 125,077
1. Sunday, February 20, 2011 - 7:10 PM
So Chase is testing two additional basic checking accounts:

Chase Plus Checking - the same as their Total Checking account, minus the option of direct deposit as a way to waive the service fee... which has increased to $15.

Chase Customized Checking - a $5-monthly account with the option of adding a debit card ($3), billpay ($5) and a paper statement ($3).  

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Hopefully those seeking a new checking account will realize there's better, lower-cost (including no-cost) alternatives available to them. 
1
SouthwesternSouthwestern23 posts since
Jan 25, 2011
Rep Points: 98
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