http://secretlyironic.livejournal.com/ (
secretlyironic.livejournal.com) wrote in
davis_square2012-03-19 05:06 pm
![[identity profile]](https://www.dreamwidth.org/img/silk/identity/openid.png)
![[community profile]](https://www.dreamwidth.org/img/silk/identity/community.png)
Eastern Bank Checking: Requirements change for Wainwright customers
Eastern Bank will be eliminating the Wainwright free checking plan on 4/2/2012. The primary options for regular folks are:
* "Free" checking: No monthly fee, you pay for a book of checks. ATM fees are zero for Eastern Bank ATMs, $2 for SUM ATMs, and (Edited for clarity) for non-SUM ATMs, it's $2 plus the host bank's fee.
* "EZ" checking: No monthly fee if you use your debit card to purchase stuff at least 15 times per month, OR maintain an average balance of $1,500. $10 per month if you don't meet the other requirements.
I think those requirements are obnoxious. Anyone care to make independent bank suggestions?
* "Free" checking: No monthly fee, you pay for a book of checks. ATM fees are zero for Eastern Bank ATMs, $2 for SUM ATMs, and (Edited for clarity) for non-SUM ATMs, it's $2 plus the host bank's fee.
* "EZ" checking: No monthly fee if you use your debit card to purchase stuff at least 15 times per month, OR maintain an average balance of $1,500. $10 per month if you don't meet the other requirements.
I think those requirements are obnoxious. Anyone care to make independent bank suggestions?
no subject
no subject
no subject
no subject
no subject
no subject
no subject
no subject
I'll probably switch to the EZ checking for now, and then look around at other options...
no subject
no subject
no subject
no subject
no subject
no subject
As an aside, we're also shopping for a community bank in our local area--be aware that almost every bank will offer a $100-200 bonus reward for joining at times, so don't be hasty and keep an eye out for promotions (Cambridge Savings Bank used to offer a $200 savings bond)
no subject
no subject
I got the credit card because they're one of the few banks that don't charge a fee for transactions in other countries. And I kept using it because their 1% cash back reward is easy to use. You can get it as a credit on your account, whenever you want, with no minimum. Most other cards have a $25 or $50 minimum, and some will only send you a paper check.
However, their savings account's interest rate is no longer competitive.
no subject
no subject
Link: https://www.easternbank.com/site/about_us/newsroom/2012_archive/Pages/release_031412.aspx
Pasted below:
Eastern Bank launches new checking account that makes it easy to avoid ATM fees
eZ Checking offers greater access to more ATMs without fees
BOSTON, March 14, 2012 – Avoiding fees for simply using an ATM is a whole lot easier with today’s launch of Eastern eZ Checking, a new checking account tailor-made for active debit card users and those who want the savings and convenience of no-fee ATM withdrawals.
“Eastern Bank understands that convenience and access to ATMs without paying a fee is very important to our customers,” said Eastern Bank’s Joe Riley, executive vice president, Director of Retail and Business Banking. “Eastern eZ Checking is a simple solution for debit card users who do not want to pay a fee for withdrawing cash from an ATM.”
Eastern eZ Checking offers totally free access to more than 100 Eastern Bank ATMs and more than 5,000 SUM® ATMs. Additionally, Eastern Bank will not charge eZ Checking customers to use another bank’s ATM (every month, Eastern Bank will reimburse eZ Checking customers up to $10.00 worth of ATM fees that other banks may charge when withdrawing cash).
eZ Checking also offers all of these benefits:
• Free Online Banking with Bill Pay;
• Free Mobile Banking;
• Free e-Statements;
• Unlimited check writing.
To be eligible for eZ Checking, customers agree to receive their monthly statement electronically in an “eStatement” AND make 15 debit card purchases per statement cycle OR maintain a $1,500.00 monthly balance. Otherwise, the monthly account maintenance fee is $10.00.
About Eastern Bank
Founded in 1818 and based in Boston, Eastern Bank is the largest independent and mutually owned bank in New England, with $7.6 billion in assets and more than 90 branches serving communities from the Merrimack Valley to Cape Cod. Eastern Bank offers banking, investments and insurance all under one roof, and prides itself on working harder to understand its customers’ needs so it can deliver these services in a committed and personal way. Eastern Bank includes Eastern Wealth Management and Eastern Insurance. For more information, visit www.easternbank.com or www.facebook.com/easternbank.
no subject
no subject
no subject
Both PIN and Signature purchases count towards the 15 debit card transaction requirement. ATM transactions do not count towards the requirement.
Hope this helps,
Andy
no subject
no subject
Often times, some of the information posted here is not 100 percent accurate, including some items related to Eastern Bank in this thread.
If you have any questions about a checking product, this is a great page that spells out everything in an easy to read table:
https://www.easternbank.com/site/personal/banking/checking/Pages/checking.aspx
Thanks,
Andy
no subject
(I also have savings in ING Direct and am looking to move it for reasons expressed by others.)
no subject
I never use my debit card, preferring the rewards my credit card gives me. And I use SUM ATMs all the time, since I never got charged a fee by Wainwright. I don't think "the bank would like me to" is a particularly good reason to change either of those behaviors. Time to switch banks again, I guess. Grrr....