Banking in Los Angeles, with low balances and many cash deposits.
February 13, 2012 4:45 PM Subscribe
People of Pasadena ... and the rest of Los Angeles. How do you carry a low balance in a bank or credit union, and not get charged for having less than $100? Also, unlimited access to the CO-OP ATM network, for cash deposits.
posted by Xere to Work & Money (4 answers total) 4 users marked this as a favorite
Moved my money away from BofA, to the nearby Lockheed FCU. Great, right? And then I discovered that having less than $500 after the first three months incurs a monthly $5 low balance fee.
So I'm currently looking for a new credit union, to escape the monthly fee. I think I've looked at a good amount, but nothing has come up yet. Some have laughable online banking systems that are hosted on a remote site, or surprising features such as only 5 free ATM transactions (and not just withdrawals) per month. I deposit cash about 5 times a week!
I'm hoping for:
- no monthly fees AT ALL. I don't have the direct deposit that would waive the usual monthly fee.
- unlimited, free access to the Co-op network, for cash deposits
- no membership fee (or a low one) for opening the account
- good online banking system
I have an account with Ally, and the only thing that stops it from being perfect is the (understandable) lack of cash deposits. :(