A trick to new bank checking account to avoid monthly fees?

I was considering doing a shop that requires opening a checking account at a bank. The job requires you to maintain the account for 90 days. In order to avoid paying checking fees I checked on the bank's website and it looks like you have to maintain a $1,500 average daily balance.

While I suppose I could do that, it occurred to me that maybe I am missing something. Do people really tie up that much money for three months for just one assignment?

Anything else, other than worrying about checking account fees, to be concerned about when doing an assignment that requires you to open an account? I suppose doing too many may impact your credit rating.

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Check with the MSC. They might pay the fees.

I have found there is usually a 60 - 90 day fee waive on new accounts. The fees I have encountered are like $5.00 per month. Some accounts can waive the fees if the account is for a minor or a military veteran.

I do it all the time for those $150-200 bonus offers (not mystery shopping related). $150 for $1,500 stashed is still a gain of $150. Not an issue if it's money from my savings anyways.

Shopping the Greater Denver Area, Colorado Springs and in-between in Colorado. 33 year old male and willing to travel!

I was told on a recent bank shop that the fees could be deferred if you state that it will take that long to move funds from a CD into the account, or to begin direct deposit.

Based in MD, near DC
Shopping from the Carolinas to New York
Have video cam; will travel

Poor customer service? Don't get mad; get video.

Some banks waive fees for senior citizens too.

@Tarantado wrote:

I do it all the time for those $150-200 bonus offers (not mystery shopping related). $150 for $1,500 stashed is still a gain of $150. Not an issue if it's money from my savings anyways.

Which bank? I keep getting those $200 offers but with a minimum daily balance of $15,000.

@Sybil2 wrote:

@Tarantado wrote:

I do it all the time for those $150-200 bonus offers (not mystery shopping related). $150 for $1,500 stashed is still a gain of $150. Not an issue if it's money from my savings anyways.
Which bank? I keep getting those $200 offers but with a minimum daily balance of $15,000.

Local Chase is doing it for $200 for a new checking account. Keep it open for 6 months, close it. Wait exactly 12 more months, do it again lol. Those guys hate me.

Another good one was Discover Bank. I think all it was for that was direct deposit and it was an easy $300, I think; can't remember exact bonus without digging up the info.

Shopping the Greater Denver Area, Colorado Springs and in-between in Colorado. 33 year old male and willing to travel!

The best advice I can give to you is to make sure you remember to close the account if you do not want it anymore. After your 3 months is over the fees will start to pile up if you don't get around to it. So don't lose sight of this.

Ask how long you will have to fund the account. As someone stated, it's typically 60-90 days.

Also, ask what other options you have to waive the fee.

I have opened and closed accounts with several banks every month over the past year. I have yet to pay a fee.

"I told myself to quit you; but I don't listen to drunks." -Chris Stapleton

Some will waive fees if you go paperless or limit your time in the branch.

Edited 1 time(s). Last edit at 12/03/2016 05:16AM by msmsmshopper.

I had an issue with one Bank Shop, where they were charging me a monthly fee because I did not use the account. If the account had activity,(deposits and withdrawals every month, there would be NO fees. I have never heard of that. They were charging because I didn't have any income or expenses one month. I had maintained the balance, just did not have any activity. When I inquired about it, they preferred to lose my business(I canceled the account) rather than forgive the $15 charge.

Shopping Southern Georgia, Valdosta, Waycross, Quitman, Thomasville and North Central Florida I-10 & I-75.

As I understand it, the bonus offers are taxable by IRS. I've opened two accounts in the last six months for $500 total. I jumped the opportunity as I was looking to switch banks after 20 years.

Shopping up and down the Colorado Rocky Mountain front range.

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A trick to new bank checking account to avoid monthly fees?

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