I have had my little Chase account for 25 years now. It is where I put my cookie jar money. Right now my balance is $25.88 because I spent $50 each on Christmas presents for our 5 Grandkids. It took me a year to save that much.
20 years ago a bank whos name I don't remember sold me to First Chicago, they sold me to Bank One and they sold me to Chase.
I now get a letter from Chase saying that they will charge me $12.00 a month if I don't have 5 debit card transactions or $500 in deposits a month. I have until February to accept this or close my account.
I called Chase and asked if I deposited $1300 (1960s saving bond I saved for rainy day) would my account still be free.
I was told no, I would have to deposit $500 a month or spend via 5 debits a month. I asked if I took money out money at the ATM (thinking I could deposit it back) would that count. Nope, you have to use your debit card to buy stuff.
Really? What is wrong with this picture? I have to pay fees if I don't buy stuff every month?
My account wasn't earning interest anyway, it will now be moved to under my mattress.
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