Originally Posted by
cutnana
Thanks, but it does not mean it will apply to current account holders. I have an old free account that has no requirements at all. So unless we get it in writing, nothing changes. It does mean though that for new accounts it will be very different.
Why anyone would open a Chase account when free accounts are all over. Maybe they plan on upping the bonuses
It WILL apply to current account holders. Here are the details:
Current Acct -> New Acct (AUTOMATIC in Feb 2011)
Chase Free Extra -> Chase Total Checking
Chase Free Classic -> Chase Total Checking
Chase Basic Checking -> Chase Total Checking
Chase Better Banking -> Chase Total Checking
Chase Total Checking details:
$12 monthly fee, waived IF EITHER:
- At least one direct deposit of $500 or more. (multiple deposits <$500 each don't qualify)
- OR, keep a minimum daily balance of $1,500 or more in your checking account.
- OR, keep an average balance of $5,000 or more in a combination of deposit accounts and/or investment accounts with Chase.
- OR, pay $25 or more in qualifying account fees (not including the monthly Service Fee).
Chase Checking -> Grandfathered to Chase Checking*
*To Waive Monthly Fee:
- NEW, At least one direct deposit of $500 or more. (multiple deposits <$500 each don't qualify)
- OR, 5 debit card (non-pin) purchases.
Chase Premier -> Grandfathered to Chase Premier*
*NO Changes in Requirement to Waive Monthly Fee.
Letters are being mailed out to current customers between now and January 2011.
See more at:
THIS THREAD
OR
HERE
Hope that clarifies it.
SuperG03