Midfirst Direct Activity & ACH Fees Q.

newbie1 | Apr 25, 2016 | 24 posts since 2010

Hi, Calling any and all MidFirst Direct customers. I have a couple of CDs with MidFirst Direct but no other accounts, thus these accounts have no customer initiated action associated with them. Will I be charged a dormant account fee after a year? I was wondering if I should open a savings account and make a small yearly deposit, what do other MidFirst Deposit Accounts members do? Suggestions? The CD's are compounding, but I notice an option to take an ACH withdrawal of the monthly interest to an outside institution. Does anyone know it the banks $3 outgoing AHC fee is charged if you withdraw the monthly interest?

Thanks

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Answers

Ricochet | Apr 25, 2016 | 522 posts since 2010

I have no acct at said bank but,
Even though I had a no interest checking account that I used every month numerous times, I was charged an inactivity fee and a frozen account. This was because I only did internet transactions. This fee was charged after 3 yrs of monthly use. When I called to raise **** they said I needed to have a "physical " contact with the bank account. Sending a "physical" check for deposit to acct was a remedy.
So ask the obscure questions when dealing with institutions. should I have a prepared list? :<

dave9354 | Apr 27, 2016 | 58 posts since 2010

I have one CD with them and no other accounts since 2013 and I have never had any charges to my account. The interest accrued very month is considered a transaction.

CDInvestor1 | May 3, 2016 | 18 posts since 2015

I have had one CD with them for the last few years and no other account. They send my accrued interest to an external account once a quarter, and I am not aware of any fees that they have charged to do so. I would think you would only have to worry about a "dormant" fee for transaction accounts, not CD's.

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