Tuesday, February 23, 2010

Chase Cancelled My Checking Account...

I logged into online banking this morning and Chase cancelled my checking account due to inactivity. I swear I used the account within the last 6 months but they cancelled it anyway.

Chase is not my primary bank but I kept a checking account with them along with my local emergency fund since they're pretty much everywhere in Chicago. Now, I feel like I am at a disadvantage because I cannot easily transfer savings to checking in the case of an emergency to use my debit card. So, I am thinking that I may just transfer my $2,000 Emergency Fund to Bank of America.

I will be happy to rid myself of Chase completely once I pay off my $22k credit card balance. This may add fuel to my fire to try to eliminate this debt sooner rather than later.

6 comments:

YBP said...

what about trying a community bank or credit union close to your house. I have bank of america checking and savings and love them because they are all around philly, but I will be going back to credit unions.

The interest rates are alot higher.

Lulu said...

Ouch!!!! My primary bank is ING but I use Chase because there is a branch 10 minutes from my house in case I need it.

I don't normally write checks but I use Chase for my Sunday donation...I write the check and only keep the amount for the month in there to keep the account open.

Anonymous said...

I had $25 in an old WaMu checking account I didn't use but kept open, then Chase took it over and began charging me $12/month in service fees. For a variety of reasons, I wasn't able to get to a branch for two months, so my account dwindled to $1. I finally went in because I was afraid if I didn't close the account this month, I would end up owing them money! Needless to say, I'm thrilled to be done with them.

Chitown said...

My primary banking relationship is with my employer which is a smaller bank compared to Chase and Bank of America but it is still a relatively large regional bank in the Midwest.

I thought about joining a credit union and there is one not too far from my house. I am going to look into it this weekend.

Chitown said...

Hi Anon,

My WAMU account is actually how I came to have a Chase checking account too. I never intended to Bank with Chase in the first place.

Birthday Girl said...

If you are only using it for emergency fund then you may consider moving to ING for savings and checking.