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I'm sticking with my credit union. Having to track all the fine print to avoid fees is getting to be just plain crazy!
Ro: You're still misunderstanding. I have ING Direct's Electric Orange Checking. A week before rent was due, the landlord company dropped credit cards. (I said this in a previous post.)
The process to set up direct debit would take a month, not because of ING Direct, but because of the landlord. There was not enough time. (I said this above.) Again, the only option was to pay via checks accessible to me.
Next month, my direct debit will take effect and will not have to write a Wachovia check.
So this is a checking account that you can't write checks on? Interesting.
This is why I keep more than the bare minimum in my checking account. An extra $1,000 costs me maybe $2.50 a month in lost aftertax interest, and it's not worth the hassle of running around trying to figure out where I put that money in an attempt to maximize interest income.
To prevent the type of problem Flexo encountered, I do tend to keep a higher minimum balance in the checking account. However, just one $4 Wachovia fee is about the equivalent of a minimum balance of $1800 at Presidential.