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UNION Bank Ends Free Checking In January 2012

Wednesday, November 2, 2011 - 12:53 PMUnion Bank (San Francisco, CA) - Details
Free Checking at Union Bank is ending in January 2012. It will be replaced by Essential Checking. Which has a Monthly checking fee unless the following is met:

Any of the following
  • $1,500 Average Monthly Ledger Balance
  • $5,000 monthly Combined Balance
  • A single direct deposit of at least $100 per month 
9
DataIsGoldDataIsGold1 posts since
Nov 2, 2011
Rep Points: 9
1. Thursday, November 3, 2011 - 10:03 AM
It is so outrageous that banks not only want you to put your money in a checking account with NO interest so they can led it out at a good interest rate -- AND now they make you pay them a fee as well! AND buy your checks, no free checks (why do you have to buy a check to withdraw but a printed withdrawal slip is free, and ACH transaction is free?!).

Yet, the big uproar isn't over this, but whether you pay a fee on a debit card if you make purchases with it like a credit card.
3
me1004me1004370 posts since
Jan 16, 2010
Rep Points: 2,572
2. Thursday, November 3, 2011 - 12:44 PM
Yet, the big uproar isn't over this, but whether you pay a fee on a debit card if you make purchases with it like a credit card.

Excluding savvy readers of this site ;) typical math-challenged consumers are hopeless in discerning complexities beyond headline news about new debit card fees, all the while being fleeced at 5-10 times greater disadvantage through minimum balance scams.  Most banks count on that ignorance to successfully target a market for profit.  If public awareness (outrage) reaches a threshold they retreat, reassess, and devise more subtle methods to achieve their goals. 
2
CraigPDCraigPD94 posts since
Jun 12, 2010
Rep Points: 336
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