But a < would mean LESS Than... A less than $500 DD would not avoid monthly fee.

Has to be at least $500 or more.

If he means "Or", then I believe the proper symbol would be like a "/".

You idiots! Just as with the pizza (Papa Murphy's?) commercial dude saying "Free? No dude, FEE!" some of you mistook hearing/reading the term "fee" for the term "free." It's FEE checking.

So if they change the T&C can I close my accounts and keep the miles? I have only had them opened since December.

Yes, that's the benefit of being a long-time customer who is probably grandfathered in on the perks. Your safe deposit box, if small, should be free too. As to the former WAMU customers, sorry, WAMU would have been bankrupt had Chase not bought WAMU. On the other hand, I found out my business account at another bank is getting hit with higher fees. It's harder to move a banking account, so I'm still thinking about what to do.

WARNING:

The $6 fee is increasing to $12 a month if you don't have your check direct deposited into it. I just got off the phone and it will start Feb 8th.

:td:

The agent verified that the $500 DD is still the limit however she said the 5 debit card transactions may be gone as a qualifying criteria for free checking. I guess we will know Feb 8th.

I got this right off the chase site:

2. For statement periods beginning February 8, 2011, two or more smaller deposits that add up to $500 or more do not qualify. The direct deposit, which must be an ACH credit, may include a payroll, pension or government benefit payment, such as Social Security.

However it doesn't say anything about the increase to $12.

anyone have luck getting the charged fees reversed? I only got 1 mo.


I deposited 1500 to get over the "better" checking no fee balance..

I think the easiest way to avoid the fee is to park $1500 there. If you forget to charge the 5 non pin or a DD check goes less than 500 it'll cause you more grief to get the fees back from Chase.

- Deposit $1500 bucks and let it park there until you decide to cancel or use it actively
- what do other people think?

You could convert the account into a savings with a minimum balance of $300. I did this as I have had this account with Chase/Wamu for quite a long time and didn't want to close.

Plus Chase has an ATM very close to my house that accepts hand written checks for deposit in the ATM and can also deposit checks via mobile phones. In addition I wanted to have a second account as a backup with $500. So it made sense to convert.

So folks who are reluctant to close the account with Chase, a simple internal email to Chase would do the trick.

Couldn't find too much myself about the fees on the Chase website, but did find this site/page which seems to clearly summarize the coming fee changes.

This has changed in the last 24 hours to add the 1500 provision as well as the 10 bucks for Ca etc. accounts.

Minimum Deposit to Open

* $25

No Monthly Service Fee*

* With a monthly direct deposit of $500 or more**
* OR, with a $1,500 minimum daily balance
* OR, with an average daily balance of $5,000 or more in linked deposits2/investments8.

Otherwise, a $12 Monthly Service Fee applies ($10 in CA/WA/OR).

Remember, the bank needs to give you formal notice of any change to fees.

Look at your December statement to see the new rules for your specific account. For my Personal account it states that the fee remains at $6 and will continue to be waived for 5 debit card purchases. For the business account there is no real change except some of the misc. fees increase - nothing about the "basic" account fees.

That's a good idea. I don't need to change now but who knows when they will change rules again.

What do you do for withdrawls from the savings account? I am assuming you don't have a checking account at Chase.

Sorry if I am not understanding correctly, withdrawals can be made using the same debit card (thats what I have heard, not tried, but don't see why it is not possible). Yes I don't have a checking acct at Chase anymore.