Last week I decided to cancel my Chase checking accounts because they are no longer free. They offered several methods to get around the fee, but since I am unemployed and have no money I did not qualify. I checked around town and, although there were several local banks who offered free checking, I decided to choose Wells Fargo.
Wells Fargo Bank is national, is conveniently located in my grocery store, and offers a method to get around the fees. By setting up a checking and a savings account they will automatically transfer $25 from checking to savings each month. I chose the lower transfer amount because, again, I have no money!! If I get a job later I can upgrade to the $75 transfer amount and get free cashier's checks and money orders. I had to scrape together $200 to open the accounts, and those funds had to stay in the account for 24 hours. I will have to pay about $20 for the checks, so am hoping that I can manage to pay all my bills online and use my free debit card for other transactions. That way I might be able to get away with having no checks for this account. I have another "free for life" checking account from Bank of the West, but unfortunately that bank is not located in my area. That account is where my paychecks will be deposited, and I will use that account to pay the other bills. Although the Bank of the West account is free, there is a monthly fee to use the debit card.
As my free gift for opening my Wells Fargo account I was given a darling little savings bank, called a "Casita". I was going to give it to my niece, but yesterday I realized that perhaps I need it more than she does!! I decided that I would put all of my "silver" coins into the bank, who knows when I might need a quick cache of cash? So, today my wallet is poorer by 3 quarters, 3 nickels, and 5 dimes -- and my Casita is $1.40 richer!!
Follow-up: Yesterday I had to break into the "Casita de Loose Change" because I had to go to the laundromat. I was surprised to find that I had $8.00 worth of quarters, and about $2.50 in dimes and nickels!! My washing machine broke and since I will have to go to the laundromat often, I will have to set up a different receptacle for my quarters. Only dimes and nickels will go into the casita from now on!!
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