We have a checking writing with one of our brokers, on a money market
account. It's used to cover expenses only, throughout the year (no stock
purchases). We're charged a fee of $50 annually, which is taking out of this
expense pot. So yes, I would say $8/month ($96/yr) is a bit much.



>----- Original Message ----- From: "Stephanie Hilbun" To: Cc: 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 >
>

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