[net.invest] usnb checking acct

barbaral (01/14/83)

I was looking into a checking acct at US National Bank.  It required at
$2000 (maybe it was $2500) minimum balance.  There are no service charges.
And the acct. accumulated interest, I forget at what rate.  Sounds pretty
good so far, right?  
No where in the literature did it say what happens if your balance goes
below $2000.  I asked the teller.  "Oh well for every month your balance
goes below $2000, there's just a $10 service charge per month"!!!

ltn (01/22/83)

At my bank, at least, the money market checking accounts (I don't have one)
simply revert to ordinary NOW accounts (5.25%) if the balance drops below 
$2500.