Comments (scroll down to add your own):

1. Normally I just read and enjoy your posts, but I stopped cold on this article.

   My goodness, why would anyone go to a bank with these terms??!!!??

   We use our credit union; our minimum balance is $500; we pay NO service fees if we keep it at $500 or above.

   We receive 2.01% on ordinary savings; we earn 5.75% on our 2-year CD’s, and 1.03% on our CHECKING account.

   And, as a last note, we opened the account with $200 – not a minimum of $1500……..

   I think this is a bank to ignore completely!

   Comment by Diane — Jul 6th 2009 @ 3:33 pm

2. Oh yes, and I forgot – we have an account with B of A as well – BOTH are ‘on-line’ accounts.

   B of A ties our mortgage balance we have with them, into our checking account, so we never have to pay a fee. Their minimum balance requirement to avoid service fees if you don’t have a mortgage with them is $1,000 and they pay a tiny % of interest on the checking.

   We can bank on line; get our statements on line – monitor our credit cards that we have both with B of A and our credit union – it’s a breeze and still a far cry better than what I’m reading on this particular bank you mention………

   Comment by Diane — Jul 6th 2009 @ 3:36 pm

3. WOW!! A bank has decided to increase rates? What were their rates before the increase?

   Like Diane said, these terms seem pretty outrageous, but I guess if you’ve got money to burn and are willing to meet the minimum requirements this may be good.

   Comment by Boston — Jul 6th 2009 @ 4:53 pm

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