Jasmine wrote:
I’m sorry…but your banks charge you to open an account?? WTF?? They charge you to do business with them? They charge you so they can make money in interest, in bank charges, in late fees?? That is just ridiculous!!
Most banks would have a minimum initial deposit – say $500 – to open an account. And will charge a monthly service fee if you don’t keep a certain minimum average amount in the account.
We pay an “account analysis fee” on our commercial account because we have more transactions per month than the meager interest on our rather low average balance can cover. Theoretically if we kept a few thousand dollars more in our account we could begin to reduce the analysis fee to zero. It’s not likely to happen.
