Banking choices

The banking industry is certainly growing!  And it appears to be growing at our expense.  I went to open a savings account the other day and the bank told me that I had to maintain a certain minimum balance on my savings or they would charge me a monthly maintenance fee!  On my SAVINGS?  I don’t think so!  A few days ago a good friend of mine told me that he had received a check from a customer of his and he deposited it and wrote checks against it.  Well, you guessed it!  That check bounced, so his checks bounced and he is being slapped with NSF fees all over the place!  I can remember once depositing a check in my account from a relative and it bounced, and I got charged a return check fee myself!  I think that should be illegal, for the banks to charge the innocent customer a fee for that!

More and more I’ve been thinking that prepaid debit cards just might be the direction to go.  They are becoming easier to get, easier to use, and if you arrange for direct deposit from your pension or paycheck, many times you can get the cards without any monthly fees.  And now some of them can even be set up with online billpay!  That is a great convenience to have – online billpay makes keeping track of finances a lot easier!

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