Scott Jelinek
Scott Jelinek
Hometown: Denver, CO
Dumped: Bank of America
New relationship: ING Direct
Date of breakup: Late October

I had a checking account and savings account with Bank of America, but when I heard about the $5 debit card fee they were planning I started looking at my bank account and realized I was also being charged a $9 monthly maintenance fee.

So with this $5 fee coming, it was all adding up to be more money than I should be paying for a checking account. Plus, I live with roommates so each month I'm paying one roommate for rent and they're paying me for utilities so we're always transferring money and there are fees attached.

I had basically just been hemorrhaging money for all these little fees. When you give money to a bank, you think you'll be making a little money from interest. But I got three cents in interest in a month with Bank of America and at the same time lost $20 from fees.

So I started looking into other options. I originally had just a CD with ING Direct, but I was getting e-mails from them saying that there are zero fees. Right away I thought, every bank says there are zero fees -- this can't be true. But there really are zero fees -- no debit fee, no checking account fee, no transferring money fee. It seemed like a win-win.

When I called up Bank of America, they asked why I wanted to close my account and I said because of all the fees. She said she was sorry to hear that and that I could switch to a savings account or a credit card. But I want to use my debit card, not a credit card! So I withdrew all my money and transferred it over to ING and I've been very happy in the short time I've been a customer there.



Last updated November 08 2011: 6:10 PM ET
7 banks that are still awesome

While other banks are busy hiking fees, these financial institutions are bucking the trend by offering free checking and other perks.

Find Homes for sale
  • Property Type
  • Find a home in:
    New York | Atlanta | Chicago | Los Angeles
    Washington D.C | Houston | Philadelphia | More options
Most Popular
 
 
 
 
 

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.