So, @msmith537 reminded me of a totally different question that I wanted to ask about the US system versus others: minimum checking account balances.
Many years ago, on this board, I made it known my displeasure with a bank that rhymes with “Schmells Blargo,” and since then, have been exclusively banking with a ‘Veterans-Catering’ bank (20+ years) now.
A month or so ago, I was flabbergasted to get some junk mail from Schmells Blargo, inviting me to open up a checking account with an initial deposit of $25* Note buried in the fine print: minimum required checking account balance is $1,000 or else a $5.99 monthly ‘service fee’ would apply.
After spending exactly 4.638 nanoseconds contemplating their ‘offer’, I endured .724 seconds in analysis paralysis on whether I should shred this invitation, or use it to start my wood stove–the shredder won.
My question for non-US Dopers: do your banks charge ‘service fees’ at all? Is it the crappy banks, or all/none?
Follow-up for the US Dopers: are other “big” banks like ‘Piti-Bank’, and Bank of Crap-erica still pulling this kind of crap?
Tripler
Names changed to protect the innocent–or something.