I’d had this Chase checking account for about 30 years, since it was a Bank One account. In the past few years they instituted a $12/mo fee unless you had direct deposit (>= $500, IIRC). That didn’t affect me while I was working as I had DD there.
I retired in late Dec of last year so the DD stopped. Apparently transfers from other banks don’t count even if they meet the minimum. That annoyed me. $12/mo isn’t going to kill me, but it’s 2.4% of my monthly budget going to absolute waste.
To plan for the eventual shift I’d already opened a checking account with Ally, which I love love love. Use any ATM for free? Exceptional telephone service the one time I needed it during account setup? A bit of compound interest? Clueful website? Yes, please.
The PF membership was literally the only thing I used Chase checking for; everything else goes on my cash-back Amazon Prime credit card. So the unused ~$23/mo PF fee and useless $12/mo checking fee were consuming 7% of my budget for no return at all. So..
I suspended my PF account until January, something they will do with no hassle. Canceling, _on the other hand,_ is a hassle and involves going to the home gym or sending a certified letter. I’ll make that decision later. If I start finding PFs with showers before January I’ll use Ally checking for the monthly fees. Otherwise they’ll be getting a certified letter.
I just closed the Chase checking account. :-) It took a couple days through the Secure Messaging function of the website but did work. I’d put $15 in there to cover the last fee in case it hit, and advised it should be applied to my CC balance if not consumed. I assume they didn’t read and will send a paper check to my mail forwarder.