Foolish 5 minutes
As many fools including myself have recently read and are being affected by these new banking FEE changes from Bank of American to Citibank....I'd like to share my experience changing my current Citibank EZ Checking account to Basic Checking at Citibank to primarily avoid monthly fees for minimum balances.
Details of changes can be found below: Thanks for mybanktracker write-up.
In summary it took only about 5 minutes to change to a Basic Checking account...essentially the same as EZ Checking (minus the free checks) with lower minimum balance to maintain $1500 vs. $6000.
Me - I'd like to change my current EZ Checking to Basic banking.
Teller - Okay...swipe your account...enter pin....verify information....done. Is there anything else I can help you with?
Good news is that you don't have to setup a new account or change your checking account number; next statement will have Basic Checking account instead of EZ checking account.