Chase Customers With Small Direct Deposits Will Pay More

Filed under: Banking, Banking - Checking Account

Beginning in February, Chase will begin charging a growing number of its customers for basic checking accounts. What might raise some objections is who's being singled out for these new fees: account holders who receive small direct deposits of less than $500. Right now, anyone who gets a direct deposit can have the $6 monthly fee waived, but that's about to change.

If someone -- say a person on unemployment, or a senior citizen receiving government benefits -- gets less than $500 per payment period, they'll be hit with the fee. Multiple deposits that add up to $500 don't count. Consumers who use their debit cards to make five or more purchases in each statement period also can have the fee waived.

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Chase Customers With Small Direct Deposits Will Pay More originally appeared on WalletPop on Wed, 22 Dec 2010 17:00:00 EST. Please see our terms for use of feeds.

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