Warning: Chase free checking is no longer
 

Hi, I'm posting this here because I know that many of you have Chase accounts. I don't check my balance very often because I use that account mainly to complement my Chase credit cards, but I checked today so I could marvel over my new UA card and noticed that they've been dinging me for $6 per month since January. When I called to inquire, they told me that they now require 5 debit transactions (or direct deposit) per month in order to avoid this fee. While I'm not going to loose any sleep over the $24 (in fact, this might give me a bit of leverage wrt coin deposits), I'm a bit irked that they snuck this in on me. They claim that they mailed me information about this, but it must have been buried pretty deeply because I do try to stay on top of notices regarding my accounts.

One way to get free checking is to have direct deposit. I am not sure if there is a minimum amount, but if you wish to keep it, you may want to have a % of your pay (if you have direct deposit) deposited to your Chase account.

Unfortunately, I'm an IC so direct deposit is not an option for me. Consequently, I only use accounts that are completely fee free (i.e. no strings attached), which was the case with Chase until recently.

or you can keep a combined $6,000 balance between checking & savings accounts with Chase

thats what I ended up doing, although my Chase account was never free

Since it is not your main account, you should set up a $1 direct deposit from your paycheck to this account every two weeks.

I have 2 Chase accounts - one with a payroll direct deposit. The other, I make a paypal transfer each month and Chase counts this - I have never been charged a fee.

I transfer 5.00 every couple of weeks from ING savings - works also.

if you have multiple Chase accounts you can schedule a "payment" check to be sent as direct deposit from one Chase account to another.

the Chase bank manager where I opened my account suggested this, not for the direct deposit side of things, but to comply with the payments necessary for three months to receive the 10k AAdvantage bonus.

Chase is just plain evil! They bought Washington Mutual (WAMU) at a fire sale price and proceeded to erase any trace that the bank was Washington Mutual. They even went to the trouble of taking the brick out of one of their branches that had the Washington Mutual brand in the brick face. I've finally had it with them and I'm going to a credit union.

Its pretty well outlined here: https://www.chase.com/ccp/index.jsp?...ecking-Account

"No monthly service fee, no minimum balance requirement - with established monthly Direct Deposit or with 5 or more debit card purchases during each statement period "

Don't really know how you MISSED it.

I missed it because there were no restrictions whatsoever when I opened the account, and they failed to notify me about the changes in a transparent manner. While an email with a subject heading, "we're going to start charging you $6 per month for your checking account," might never have been in the cards, I'm pretty sure they buried this key info in a statement mailer. (I have received several "changes to terms" notices from them, but most deal with new methods of calculating balances and the like.)

I've had a Chase Checking account for 6 years. It's been the same. Here's the old page: https://www.chase.com/index.jsp?pg_n...-checking-page

"Monthly Service Fee
None with direct deposit or if 5 or more debit card purchases are posted to your account during each statement period (withdrawals from the ATM or cash advance transactions do not qualify); otherwise $6 per month"

When I opened the account, my bank was named "WaMu." When Chase took over, they promised that the terms would remain the same.

Probably should have said that. Regarding the post title though, it's quite misleading.

This is somehow different from other banks when they take over other banks?:confused:

Washington Mutual itself obliterated any trace of the banks and savings and loans it took over, such as Home Savings of America, American Savings, and Great Western (all of which were very large savings and loans prior to becoming part of Washington Mutual). Washington Mutual's name had been a misnomer since 1983, when it demutualized.

The only trace of a fully taken over bank[*] that I still see is at a Wells Fargo ATM in a standalone concrete mini building. A barely visible First Interstate logo indented in the concrete is on the outside of that mini building (it was never painted or otherwise highlighted and was probably never noticed when Wells Fargo rebranded the ATM).

[*] Except for taken over banks where the acquirer decided to adopt the acquired bank's name, such as Wells Fargo (Norwest), Bank of America (NationsBank), and Chase (Chemical).

My WaMu checking account was converted into a Chase Free Classic Checking account. No monthly fees (no minimmum balance) as long as I have one customer initiated transaction every six months.

You should have received a "migration" booklet (~40-50 pages) last year describing the features/fees of your new account.

During the transition from WaMu to Chase, they ran ads promoting "free" checking (i.e. same as previous WaMu) so I don't feel I was misleading anyone.

What type of a Chase checking account do you have? My Chase Free Classic Checking is still free. ;)

I was one of those who was a WaMu free chkg acct customer. I just checked my acct and I haven't been knicked for a monthly fee. I haven't been doing "5 or more debit purchases per statement." I DID receive a notices, however, and one of them seemed to indicate that I would soon lose my 1 free overdraft fee that WaMu gave me. I never used it but I thought that was a real barn burner...coming from a bank! Now, Chase will pay (and at their preference and upon customer request) an overdraft debit but still charges the hefty overdraft bank "fee."

op doesnt read
 

I too have a wamu free checking that is still free with no transactions required...I was going to close it but the bank guy said that was a mistake that the account was grandfathered in from wamu and would always be free, and I should keep it open. I opened a chase checking in sept 09 to get the CO points and the first month there is no fee, the second month they charged me, I complained at the branch and they told me about the 5 debit card transactions to keep it free....since I too am a contractor with no direct deposit....they refunded the charge as goodwill and when i went home i looked at the signup package that came with the account and right on the first page in big letters were the requirements to avoid a monthly service charge...not hidden, easy to find....so the original poster was just like me, too lazy to read the terms....he just didnt figure it out after the first time they charged him....guess he doesnt read his monthly statements either.

There is a secret to avoid being charged the monthly service fee. Simply keep your balance at $0. My personal banker at Chase who looks out for me has informed me that Chase accounts with $0 do not incur the monthly service fee, and I have seen this in action for many months now.

Now of course, if some of you actually use your Chase account, then the $0 won't be any good. But, for those of you who opened Chase accounts just for the bonuses, take out all the money once you qualify for the bonus, and you won't be hit with any service fees. Of course, you should keep the account open for 6 months before closing it out completely, because Chase threatens to take back incentives if accounts are closed before then.

BTW that is absolutely correct. They recently sent me a change notice that my "free" outgoing wires would no longer be free. They originally promised to keep all the benefits that were associated with my free WaMu checking account.

Do you know if your account simply has to be at zero when the statement closes or if they use a daily average? The reason I ask is that I'm planning on moving 12,500 NAs through Chase before I bid them farewell (original plan was to spread the wealth around to all of my banks; this little fee thing earned Chase the whole lot), but they won't be in my account for more than a day.

I'm pretty sure you did not receive AAdvantage miles from Chase. Was this suggestion made at Chase or at Citibank?

Yeah, I had the same experience - got nailed with the $6 monthly fee, and was told I had received the info buried in the stack of papers I got when I opened the acct.
As was suggested - either do a paypal transfer, or make some small purchases every month. For example - a couple of stops at a grocery store, getting a few bananas, purchased at the self-checkout, one banana at a time.
Be sure to close the acct after 6 months, then be sure to re-open another one, since you're allowed to open one a calendar year.

I realize you don't like the terms being changed (I don't like delta...they killed NW) but at the same time seriously how hard is it to make 5 debit purchases.

If you are one of the old ladies holding everyone up at the grocery store writing checks.....I hate to be the one to tell you but....psssst debit cards do the exact same thing, only simpler.

I have a WaMu Case as well and it is named "Extra Free Checking" in my profile. Now I do quite a few transactions with it, PayPal transfers and my CO Debit Card purchases and have never been charged a fee yet.

Will wait what comes. I certainly did NOT recieve any mailing.

Really? This is the only feature I really use. I don't recall getting anything about it, though. Of course, it would be easy to miss.

Was your WaMu account one that was set up online?

It was was setup online somewhere around 2004 or so.

Sounds like I may have to check on this, as I'm about to send a wire off to Asia. I do have a HELOC with them, but don't know if that is counted or not.

As much as I like the, "one banana at a time," suggestion, I'm currently netting 10-14% cash back (well TYP, so Expedia cash) on my PPE card, which runs through the end of Q2, so I've been trying to use it exclusively.

I actually don't need a Chase account; the only remaining thing I like about Chase is that they have lots of grocery store branches around here (i.e. can often kill two birds with one stone/errand).

I received the wire fee notice and it takes effect sometime in May. I don't think a HELOC matters as I have one too.

I got hit with the $6 fee a few times, so I've just started making 5X$0.01 "charitable" donations per month via paypal.

Chase=pure evil.

I recently took out the Chase checking account offer for 25K miles. Offer broken up into 2 pieces:

10K miles: 1 Direct Deposit or 5 Debt Purchases within 60 days
15K miles: Get a new debit card + 1 debit purchase by a certain date
- Both the $29 and more expensive debit cards qualify for promotion I was told

Separately to not incur a fee on the checking account, set up direct deposit or have 5 debit purchases each month

So the mileage bonus is different than Chase's own minimums to maintain the account without fees.

This is for a "chase checking account" their basic account. They have other premium acccounts where fees are waived for higher balances etc.

In terms of direct deposit, I believe they told me needs to at least be $200 a month,b ut double check wtiht hem. you can split your w-2 into different tranches so $200 goes into chase account.

This has nothing to do with the thread here. We are talking about the old FREE WaMu checking accounts.

Sorry if my thread offended you. Was merely posting as it appears your old free checking accounts converted into the chase checking account currently offered for free with the aforementioned requirements (direct deposite or requisite number of debit charges). And since I had a list of the requirements with me, having taken out the checking account recently, I just listed them there. The minimum direct deposit amount however was given to me verbally and I did not remember it was $100, 200 or 300 -- but I believe 200.

Hasn't this always been the case?

I don't think he was offended. I think he was merely saying that he thinks your post was misplaced.

My former WaMu account still shows up as FREE EXTRA CKING with no monthly fee or direct deposit/debit requirements.