Direct Deposit

[pschale]

I have used direct deposit for the last 10 years and never been charged bank fees for a checking account because of doing this.

[jeffrey]

Originally Posted by pschale

I have used direct deposit for the last 10 years and never been charged bank fees for a checking account because of doing this.

Yes...that should be the case (although the way that banks and fees go together, it would not surprise me if they try to do so sometime in the future). At this time, you should be able to ger sone standard fees waived if you choose direct deposit. Since it costs the bank a lot less to process the money when you use direct deposit, they often offer (or you can negotiate) lesser fees that they would usually charge on accounts. This could be free checking (when normally there would be a fee) or free overdraft protection. All banks different, but it's worth asking since they are motivated to get you to do so.

[pschale]

I am a disabled veteran so I get all my medical care at the VA hospital. I started having my checks from the government put in my bank by direct deposit because I was having some trouble with my mail disappearing where I was living at the time and it was so convenient and didn't cost me anything that I just kept it up.

[itsmejan]

I have mentioned this on one of the forums before ,but felt it time to say it again.
I share a joint account with my son and he did have a regular checking accout that was costing as much as $23..00 a month in fees. I ask about cheaper account and was told to get the direct deposit account. Even though my sons employer does not do DD the bank officer said no problem we would just be charged a flat $ 5.00 fee for each month no check was DD. Woo did this save $$$. I continue to deduct $ 20.00 every month in the check register ,but this is another story and just my way of saving a buck.
JAN in NC

[pschale]

I share an joint account with my daughter and we also just bought an acre of land with a double wide on it together. All of our money goes in the same pot then we pay bills, buy what we need and everyone gets a set amount for spending money.

[amomof4]

I don't have a pay check, but my bank doesn't charge me any fees. I even get my check free & interest with no minimum balance because my husband is over 55.

[Some1Shy]

well...i called my bank about the fees they said if i did direct deposit there wouldnt be any fees on my checking the lady told me that actually "paypal" is considered direct deposit so every month i put $1.00 in paypal and than take it out begining the new month and bam no fees

[Bluezy]

That is good to know about Paypal. I work for a sole proprietor and direct deposit woul dbe too expensive for him with just one employee. Thank's for that info.

[CRFSaver]

I have to say I am shocked to this day that banks still insist on having fees on their accounts? I refuse to have an account with fees. There are way to many institutions that have no fees to substitute. Just as an FYI, besides the local credit union, check and see who your company banks with as usually you can get no fee accounts from them as a perq to doing business with your company.

[cercis]

I haven't had an account at a "bank" in years. I've been banking at a credit union since 1997 and it's great. You do have to watch, some of them do have fees which you have to ask about (my current CU charges a monthly fee for an ATM card, so we just don't have one).

[robex]

I have used direct deposit for years and have never had bank charges on it.
My 11 year old son recently got a paper route and the kids have to have direct deposit. The company doesn't issue cheques for them. This is good because they don't see it, so they aren't as likely to spend it!

[acezz4e_tish]

Originally Posted by pschale

I All of our money goes in the same pot then we pay bills, buy what we need and everyone gets a set amount for spending money.

Dave takes 60 from his check a week for his gas and such, i put the rest in a budget. i then budget ten dollars for each person weekly for stuff when im out. consignment or freds or dollar tree, budgets the same, stuff is different weekly and everyone gets prizes each week. freds just had a big clearance. then next week ill put it somewhere else, and if i spend 8 dollars i put the other 2 into an envelope, that goes towards special days at the hair salon. my daughters hair costs 22 dollars for a wash,trim,protein pack. my boys together are only 16, but we love having the minimal cost, so sometimes we give an extra tip that covers his customers, like buying a bag of candy for his dish he passes out to his clients. we bought him two glass bowls also, one for kids one for adults. true that cutting at home would be cheaper, my youngest has sensory issues. not only the sound, but also hair on him. he breaks out even. dustin uses a set that has a vaccuum on it, and its easier to get him in the chair if he watches his brother do it first. plus dustin has on nickelodeon on a lil tv, that reaches out to the chair, so its up close and personal. i found him thru my sons speech pathologist. he works with other kids that are autistic and such, finding someone like him is a blessing. the reason i started investing in the candy is, that kids and adults like treats, but he gave out gum. which ends up in thier hair, so i bought candy so when my kids are there too, they wont get gum.

[Firefly]

Originally Posted by Some1Shy

well...i called my bank about the fees they said if i did direct deposit there wouldnt be any fees on my checking the lady told me that actually "paypal" is considered direct deposit so every month i put $1.00 in paypal and than take it out begining the new month and bam no fees

Crafty!

[acezz4e_tish]

my hubby has been thinking about this. he builds barges. he has to go to work thursday night to get paid. even tho thursday is payday, they wont let you have your check til your half way thru your shift.

[abowers]

I don't pay anything for my Bank of America checking account thanks to Direct Deposit. I also like that it's already in my account Friday morning -- I don't have to deal with going to the bank Friday after work with everyone else to deposit it.

[acezz4e_tish]

ive gotten mail that told me i would get 5 dollars off my bills paying direct too.

[Savon]

Hmm... I didn't think most banks charged fees for their checking accounts, regardless. I mean, the local ones, sure, but not the big chain banks. E.g., I bank with Washington Mutual. They don't charge any fees for their checking accounts. They do charge a fee for a savings account if it's below a certain limit, but not if you set up an automatic transfer from your checking account each month, which itself is free, and you're free to transfer the money back right afterwards.

[veronak]

I can say I have used Direct Deposit since I can remeber and I do not recall any fees unless you do not have direct deposit. However when I started my new job we did not have it boy was I upset but now we do thank goodness

[PRICEPLUS]

Because I have direct deposit from the job I get free checking. It is really convenient and I have saved a lot of money!

[JoyJoy]

My check is DD into my credit union. There is no monthly fee and no limit to the number of checks I can write a month. The debit card is free of charge also. The only fee that I pay is $1.00 if my savings goes below $100.00. Since they pay 1% on savings, I keep atleast $100.00 there only. I also have overdraft protection courtesy of the credit union for $100.00 that I can raise if I want to but never have.

Hubby has DD with a bank here in NY that I do not like but he has had them since 1976. He pays $6.00 a month service charge.