Chase Bank

ArcticKid · #1 06-15-2007, 05:09 PM

Hello everyone!

So for the past few months (since I turned 18), I have wanted to open myself a Checking Account. I did some research, was comparing banks, I have chosen Chase Bank.

I went there today. I went in with $100 in my pocket. I asked the teller (very professional and friendly) if I could open a checking account. She was very enthused of my request. I was quickly rushed into the seating area, and was given a pamphlet to read. About thirty seconds later, a lady approached. She shook my hand, and led me into her office. She asked me a bunch of information, and I gave it to her.

She asked about my college plans, and decided it was best (not for her interest, but mine) to open a "College Checking" account. She asked me where my savings account was located, and I politely told her with a different bank in our area. She went ahead and opened me a Savings Account, which was linked into my Checking, so I could save a little by little, or to use it for overdraft protection.

I gave her the $75.00 to open the two accounts. She handed me a Savings Registry, and a book of Blank Checks. She told me my Check Card was on my way in the mail already, and I should have it by Thursday at the latest.

Checking: $50.00
Savings: $25.00

Here is my question:
Is that money in my two new opened accounts? Or is that a fee that I had to pay inorder to open an account with them? It says in the Check Book that my balance is $50.00 and in my Savings Book, it says "$25.00" but when I go online, it shows that I have no money in either of those accounts.

I am very pleased with Chase Bank so far. Their customer service was great, the lady was not pushy at all, and gave me tips and things that suited my needs, not her benefit.

WHTer · #2 06-15-2007, 05:19 PM

I think that's your account balance now. I don't know of any banks anymore that actually charge you to open up an account, you just gotta put like $50 deposit or so.

ArcticKid · #3 06-15-2007, 05:24 PM

WHTer,

Thanks very much :-). I wish I had the balls to ask these types of questions at places. Or ask questions in the first place. I'm thinking about transfering all my $9,940 into my checking. Is that bad to keep that much in a checking?

Zafar Ahmed · #4 06-15-2007, 07:06 PM

what is a checking account?

IGobyTerry · #5 06-15-2007, 07:23 PM

Quote:

Originally Posted by ArcticKid

WHTer,

Thanks very much :-). I wish I had the balls to ask these types of questions at places. Or ask questions in the first place. I'm thinking about transfering all my $9,940 into my checking. Is that bad to keep that much in a checking?

No, keep it in a savings account. Checking accounts usually don't have any interest rates, or if they do, they're quite low. If you have $9,940 available, you should definitely look into a long term savings account, such as one at ING Direct, or Emigrant Direct. The high returns will yield you great benefit once you're done with college, or if you have some sort of emergency through your college years.