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