Our club has maintained a business checking account for the
last 6 months or so. Problem is
that our bank is soon going to start charging an $8/month
service charge to maintain the account.

So my questions:
Is it common for investment clubs to maintain a checking
account?
What type of account is usually maintained (business,
personal, something else)?
Is an $8/month fee unreasonable?
Has anyone had experience with non-brick&mortar banking?
How does that compare?

We have checked with other banks, and $8 is about the normal
fee. We have seen some banks
charge up to $25!

Thanks,
Steph

Our club maintains a checking account, from which we make stock purchases
through buyandhold's automatic transfer option. Our account is in the club's
name and has no associated fees (in other words, a free checking account).

timk
sh_ic

----- Original Message -----
From: "Stephanie Hilbun" <shilbun@bivio.com>
To: <club_cafe@bivio.com>
Cc: <dfwic@jasm.de.sc.ti.com>
Sent: Wednesday, April 24, 2002 2:56 PM
Subject: club_cafe: Club checking account?


> Our club has maintained a business checking account for the
> last 6 months or so. Problem is
> that our bank is soon going to start charging an $8/month
> service charge to maintain the account.
>
> So my questions:
> Is it common for investment clubs to maintain a checking
> account?
> What type of account is usually maintained (business,
> personal, something else)?
> Is an $8/month fee unreasonable?
> Has anyone had experience with non-brick&mortar banking?
> How does that compare?
>
> We have checked with other banks, and $8 is about the normal
> fee. We have seen some banks
> charge up to $25!
>
> Thanks,
> Steph
>