Looking for a Good Free Checking Acct. to start Paypal

[Cheetahwoman7]

I'm looking to get a good free checking account that doesn't require a huge minimum balance, so I can start a Paypal account. I don't want to use my regular bank as I've heard stories about Paypal and how they'll freeze your funds if there's some sort of dispute.

The local banks around here seem to all be fee based. The ones that aren't want you to maintain a certain balance as to not incur any fees.

Anyone have suggestions? I'm not opposed to an online bank. I just want it to be easy to use and access, to request fund withdrawls, and if it gives a bit of interest, that would be a bonus.

Thank you in advance,
CJ

[tinapbeana]

Re: Looking for a Good Free Checking Acct. to start Paypal

i would check out your local credit unions. mine works like this:

* you must live, work, worship, or attend school in our county to be a member
* you open a savings account with $25 and that money stays in the account as long as you're a member
* you can then choose to open one (or more!) checking accounts. these have no fees and no minimum balances.

the $25 is weird for some folks, but you can get themoney back as soon as you close the account. when you add up what you pay in monthly fees for traditional banks, though, $25 isn't much of anything over a year or more.

[safari]

Re: Looking for a Good Free Checking Acct. to start Paypal

How about Washington Mutual free checking?

http://www.wamu.com/personal/accountchoices/checking/default_CA.htm

[Cheetahwoman7]

Re: Looking for a Good Free Checking Acct. to start Paypal

Tina, I'll check into our local credit union. I used to belong to it years ago.

Safari, I would gowith WaMu, but they're buying out my main bank. I'm afraid that even if I used a different branch, PayPal would have access to my other accounts. I'm such a "fradie cat" with some of the stories I've heard about PayPal.

Thanks for the help!

[safari]

Re: Looking for a Good Free Checking Acct. to start Paypal

PayPal can only freeze the money in your PayPal account. They can't withdraw the money from your checking account without your authorization, let alone freeze the money in your checking account. Furthermore, you can only use PayPal to transfer the money in and out of the account that you link to PayPal. It doesn't matter if you have another checking account with the same bank. If you don't link that account to PayPal, it won't be accessible through PayPal.

[creditnet]

Re: Looking for a Good Free Checking Acct. to start Paypal

I recommend WaMu as well. PayPal has no authorization over any of your checking accounts, especially not the ones which are not linked to your PP account. I have a WaMu account and have never had any problems with minimum balances. In fact, I overdrafted one day (because of a mistake my payroll department made) and WaMu instantly waived my overdraft fee and even covered up to $1,000 of drafts that came in while my account was in the red.

You'd better check to see if WaMu free checking has any stipulations, such as number of checks you can write per month or number of deposits. I rarely write checks or go in to make deposits (all are direct deposits), so I haven't had any issues with this.