I am considering a shop at Woodforest National Bank. $50.00 shopper fee to open a checking account. This is not the video shop. I am looking for feedback if you have done one of these assignments. TIA

Before opening any type of account with a bank, always check out the banks policies and procedures. Know what you are getting to-------maintenance fees, monthly balances, minimum, withdrawal fees and number of, how long you must have the account before closing and if there is a closing fee.

For a shopper fee of $50, open the account with at least $500, otherwise it may cost you. May sure all the papers are given.

Op
These are quick and easy shops. There are initial fees so open with $25 that you won't need for a few weeks to be safe. Follow shop guidelines and the fees will be refunded and the account closed for you. You empty it out after getting your fees refunded and then email to have it closed to the scheduler. You can do one once every 6 months.

Your replies have been very informative. Thank you both for your time.

I did one a few years back. I didn't like the bank but it wasn't too difficult. You have to contact the MSC to get fees waived on this account for early closure. Other banks I have done account opening shops for I still have the checking accounts as I like the banks. I have three checking accounts, LOL.

You can also open up a second account or even a third if you are already a customer. Just go in and ask them to open a second checking for whatever reason you choose. If you don't plan to use it, $100 keeps you from incurring fees or you can do a deposit/transfer in from Paypal which counts as the one required monthly deposit. You will get charged an initial fee for your debit card being printed for $15 but once you email and successfully complete the shop (do be attentive) you will get it refunded into the account. Be sure to go through the scheduler, though, because you don't want outted. Once the account is approved, the shop is approved, etc. I believe the company only requires you to keep it open for 4 days and then the scheduler can work to get it closed for you. You must ZERO out the balance before the scheduler can close it, though. I have transferred in from Paypal to get a nice round number so I could use the ATM to zero it out and then email in to fix it.

The report isn't really bad for a bank shop, honestly, but anticipate lots of answers and a bit of narrative on the report. I found it easier to read through the report, then write a narrative outside the report, and paste in answers and add ons after the fact. I have done 3 of these particular shops. Not too bad. I would also recommend if you have spotted them -- consider the Wells Fargo banks too. Those were nice for the $60 pay and I've done 2 of them as well. After a year, you can pick up more.

I did several of these. In addition to what everyone else has said, they charge you for the debit card. I kept the account open for three weeks and emailed the scheduler to close the account.