How often have you heard the term "Nothing in life is free"? Although this is a sad reality for many things, it's hard to swallow when free checking accounts no longer exist without meeting certain financial requirements.
According to an article from the Boston Globe via Boston.com, several area banks, including the Brandeis top three, BOA, Citizens and Sovereign all have monthly maintenance fee's. And, when it comes to hard earned work study funds who wants to pay fees on top of taxes?
Bank of America is said to be charging $6 per month on their most basic checking account, separate and apart from their recently scrapped $5 debit card fee. Citizens is charging $4.99 unless you meet their waiver criteria, while Sovereign Bank also charges $500 unless you keep a minimum daily balance of $500 in your account.
The most expensive bank fee comes from First Republic Bank. They charge $18 per month unless you have a minimum balance of $1,800 and to even open an account you must deposit $500. First Republic does have a basic checking account with a more reasonable $3 monthly charge, but only in New York.
If you want to read the article and view other local bank fee's click here.
~Savvy Student
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