Originally Posted by
crm1712
So let me make sure this is correct. If I set up direct deposit, I don't need to make 5 debit/credit transactions per month to eliminate the fee? The reason I ask is because I typically put everything on my Starwood Amex, and the only transactions I make per month 1 check to pay rent, a direct deposit to pay a student loan, and 1 payment to pay my Starwood Amex. Sounds like I good deal since I travel Continental quite frequently, but I just want to make sure I'm not going to get a fee if I direct deposit my paycheck. Thanks!
Positive.
Or you can do the debit card transactions in one or two days each month, like buy a coffee at Starbuck, pay a buck to your phonebill online, etc etc It is very easy to take care of the 5 transactions in a jiffy imo, especially Chase hasn't imposed a minimum amount on the transactions.
OTOH, someone has reported effective Feb 2011, Chase would require $500 minimum direct deposit to qualify the fee waiver. (forgot it is here upthread or the thread in CO Forum where it is posted.)