Discuss bank/CU service fees and complaints at ATM & Banking Fees thread

heres a question... which ones are consistently interest rate leaders?

i know pcbanker claims they are... but obviously not.
cnbt claimed it also, but they are sorely lagging.

ing seems to be truely consistent to be in the 'top 5'. all the other current 'top 5' seem to be no names that come and go - ie. pcbank.com?

Markber - What is the minimum balance requirement to avoid fees at nitany bank? Also, what about the checking account. When a bank's savings or MM is the best rate, I also like to post the checking since most will want to at least look at opening both for liquiditly purposes.

Thanks for your imput.

Just noticed today that the BofI rates have dropped to 1.75% APY for Boomer, 1.9% for senior, effective 4/15 according to their rate page.

Also noticed that Presidential Bank rate is only 3% for balances up to 25K, it's 1.75 after that. Maybe not a big deal for most, but for someone like me looking for a liquid place to park home equity while renting briefly after moving to a new area ... looks like ING for me at the moment, especially becasue I already have an account ...

Thanks for doing this longwood8, gload I could help (from a lurker withholding gratitude til now because he had nothing on-topic to piggyback it on)

Here are a couple of factors that came into play when I decided to transfer from PC Banker (e-checking) to Presidential Bank (internet checking plus):

Current interest rate (APY):
PCBanker - 1.75% (any amount)
Presidential - 3.00% (under 25k) <--the biggest factor for me

ATM transactions:
PCBanker - refunds up to $6/mo
Presidential - essentially no refunds, however they say ATM use is free for Honor/Star or Cirrus. Be careful since you still have to pay the other bank's fee. <--IMO, a big drawback to Presidential

Pre-paid Deposit Envelopes
PCBanker - YES
Presidential - NO <--this blows if you make lots of deposits


The terms are identical for these items (ones that I care about):
Minimum needed in account to avoid fees = $1k avoids a $5/mo fee
Unlimited Online Bill Pay = Free

There are lots of other things to look at when it comes to fees, but these are the ones that guided my decision.
I did decide to keep the PCB account open to use solely for ATM withdrawls since they fully refund fees.

Of course other people may have different online banking aspects that steer them towards one bank or another...
Do your research, take the plunge, and make a chunk more interest than your typical B&M.

I added Nexity and GMAC, and also updated ING.

I did not add amcore since I could not verify the rates on their page and from Valentino's post it seems there are unavoidable fees. Please post the details in the format described in earlier posts.

I did not add bank direct since other alternatives seem much better on interest and min balance requirements. If there is an outcry agaisnt this I will reconsider.

Thanks to the contributors for keeping this thread vibrant.

ENERGIZED CHECKING

* Annual Percentage Yield (APY) accurate as of 5/8/2003. After 7/28/2003, the interest rate may change at any time. Special Energized CheckingSM account rate is offered only on new accounts with new money. Transfers from existing accounts are ineligible for the special promotional rate. This is a limited time offer, available only through the Internet and subject to change. Minimum balance to open the account and obtain the advertised APY is $50. Current non-special Energized CheckingSM account rates are as follows: $0 - $9,999 earns 1.50% APY; $10,000 - $24,999 earns 1.50% APY; $25,000+ earns 1.50% APY.

A monthly service charge of $12 will be charged if the minimum daily balance in the account is below $2,500. A monthly non-activity fee of $25 will be charged when the account reflects no deposits or check writing for two consecutive months regardless of balance. There is a fee of $50 if the account is closed within 120 days of opening. Account maintenance fees, if any, may reduce earnings on the account. Other parties may impose surcharges if you use ATMs that are not owned by the Bank. Business accounts not eligible. Offer applies to new checking customers new to Charter One with funds not currently on deposit in a Charter One account. This is a limited time offer and is subject to change.

I have been with Charter One for about 10 years ! When I was solicited to change my account type to the Energized type, I agreed. They were so insistent and persuasive at that moment to sell me that product about 2 years ago. I wasn't informed of any min. balance service charge or non-activity fee whatsoever. Well, last month I received a $12 service charge on my statement. Today, I went in to question the charge. I was told the entire story about full disclosure and when asked if they could remove the charge for this one-time, they said NO. Here's my response to them: Please close my account.

Be very careful of Charter One !

Their fine print catches you in many, sneaky ways. If possible, stay away and don't even touch them with a 10' pole !

CNBT is now down to 1.5% and they still require 4 check card transaction per month + direct deposit to earn any intrest. I apoligize to anyone who opened an account there on my recomendation.

Mark,
Sorry for the late reply...have been away from the finance board. I saw this ad in the chicago tribune, and they have been advetising every week. I guess the only way to verify is to call the customer service.

But it did says:
APY effective 4/15/03 and subject to change. Member FDIC.
3%APY preferred checking - >$50K (min 10K to avoid $25 fall below fee)
2%APY prefereed checking - <50K (min 10K to avoid $25 fall below fee)

2.5%APY Investor Savings - >$10K (min 5K to avoid $10 fall below fee)
2%APY Investor savings - <10K (min 5K to avoid $10 fall below fee)

2%APY Interest Checking - no min (min 1K to avoid $7 fall below fee)

1-888-4-AMCORE


Does that helps?? If not, let me know what other infou need. Thanks.