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Transfer fees?


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2 replies to this topic

#1 mataku527

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Posted 18 August 2005 - 10:59 AM

So I am completely new to banking. I just opened up a Bank One/ Chase free checking account over the weekend. I have a few questions on fees.

I plan on transfering money from my paypal to my checking account as well as from ING to and from my checking account. How do i find out how much I will be charged for these things?

Here is the only thing i can find in the info they gave me on transfers:

wire transfers:
domestic incoming 12/item
domestic outgoing 20/item

so. are they really goin to charge me that much to make these transfers I plan on making?

#2 markber

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Posted 19 August 2005 - 09:21 PM

QUOTE(mataku527 @ Aug 18 2005, 03:59 AM)

I plan on transfering money from my paypal to my checking account as well as from ING to and from my checking account.  How do i find out how much I will be charged for these things? 


PayPal and ING Direct do not charge fees for initiating transfers (ACH transfers)from banks using PayPal/ING Direct online accounts. I do not think that Chase/Bank One allows you to initiate ACH transfers via its online banking.

You need to make sure that Chase will not charge you for ACH transfers to/from Chase accounts initiated by other banks. If you do not see a fee for ACH transfers in the Chase fee schedule, you can verify that there is no fee for these transactions by contacting Chase customer service.


QUOTE
Here is the only thing i can find in the info they gave me on transfers:

wire transfers:
domestic incoming 12/item
domestic outgoing 20/item
so. are they really goin to charge me that much to make these transfers I plan on making?


You may want to use wire transfers for transferring funds to another bank only when you need it to be done fast or if you transfer money to a bank abroad.
These transactions are almost always expensive.

#3 mnl8844

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Posted 30 August 2005 - 01:43 AM

99.9% of banks do not charge for ACH transactions. while bank one is one of the worst banks i have seen, they do not seem overly fee crazy, and i dont think they will charge for an ACH transfer. however i can guarantee they wont initiate the transfers.





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