Conference 7.286::dcu

    Merchants National Bank No fees, No minimums.
       Leominster, Fitchburg, Townsend
    1st Safety Fund Bank No fees, no minimum.
       Leominster, Fitchburg, Gardner, Worc., and either Northboro, or Westboro.
                                            Denny

	I just talked to NFS Savings, and here is the data I got for their
four checking options.  (Usual caveat applies -- I've tried to get this
correct, but I certainly don't make any claims that this is accurate.  Check
for yourself -- 880-2051.)


Passport 1
----------

	Minimum balance of $100.  The fee for going under $100 *any* day of
the month is $8.  Current interest rate is 4.5%


Passport 2
----------

	Minimum balance is $100.  There is _always_ a fee of $6/mo, but this
has a higher interest rate (currently 5.25%, dropping to 5.0% on Sept 1) and
offers other goodies such as free travellers checks, free bank checks,
discounted tickets to General Cinema theaters ($4.50 a ticket), etc.


NOW account
-----------

	Minimum balance is $500.  The fee for going under this on any day
of the month is $5.  The interest rates look like this:

		Balance of:                 Interest rate
                $500 -> $4999         5.0% going to 4.5% on Sept 1
                $5000 -> $9999        5.25% going to 5.0% on Sept 1
                $10000 on up          5.5% going to 5.0% on Sept 1

(She didn't mention if these ranges are based on the average balance or a
daily minimum balance.  In our case, we'd be so solidly stuck in the $500
to $4999 range that I didn't even think to ask.)

Personal checking
-----------------

	The minimum is $250.  The fee for going under this on any day is
$5.  It doesn't pay any interest.  The first 20 checks each month are free,
but exceeding 20 results in a $.25 per check fee.  (As an aside, don't ask
me why anyone would open this account.  The Passport 1 has lower minimums,
unlimited checkwriting and pays interest...)

Also see note 1443 in the CNOTES::NEW_HAMPSHIRE conference (beginning around
reply .24) for information on other banks in New Hampshire.


						-- Nina

    re .1
    
    1st Safety Fund Bank
    Also gives you a free ATM card for said checking account, that can be
    used ANYWHERE for FREE!!! They are in Yankee and Cirrus networks. You
    can't get balances, just $$$'s. One weird thing, though... They do a
    CREDIT CHECK on you for the checking account. I've never heard of such
    a thing... Has anyone else? I applied today for this.
    
    Savings accounts here are not good. After 3 withdrawals in a month,
    they charge $.50 for each one after 3 in a month.
    
    Fred

       Merchants did a 'check' on me when I opened my account on Sat. I
    think they call one of those check clearing houses to see if they have
    you on file. Only took them about 5 minutes on a Sat. so it was pretty
    painless.
                                          Denny

    
    I just passed a 1st Safety Fund branch in Worcester, MA that had a
    large plastic banner across the entire side of the building.  It's
    message?
    
    			"FREE CHECKING"
    
    All three places I have checked have lower minimums and/or fees than
    DCU new 'choice' offering.  The largest was People's Bank.  They have 6
    different flavors of checking, many with a $100 minimum.  Some paid no
    interest, some paid interest, some automatically paid more interest if
    the balance increased above a certain amount.  All in all, I'd have to
    say a well put together package in which practically anybody could find
    a solution to their checking needs and not pay through the nose for it.
    

    Here's some information that gathered during lunch today.  All of these 
    banks are within easy lunchtime driving distance from MK0.  I tried to 
    be as thorough as possible, but not all banks give the same type of
    information.  I have no interest in any of these banks and I am posting
    this information only for comparative purposes and to illustrate the
    vast number of checking options available.  I'm glad I took the DCU's 
    advice and shopped around... 

    -------------------------------------------------------------------------
                          New Hampshire Savings Bank

    Option 1
    	No minimum.
    	Free checks and check writing
    	Free travelers checks
    	No transaction fee for any ATM (MAC/Pocketbank) throughout US.
    	Free (no annual fee) VISA or MasterCard
    	5.25% APR on balances <$1000, higher interest with larger balances.
    	$8/mo "Membership Fee"

    Option 2
    	4.25% APR on full balance with a minimum of $600.
    	Unlimited check writing.
    	No charge if min balance >$600 OR Direct Deposite.
    	$6/mo if min balance <$600 AND no Direct Deposite.

    Option 3
    	No minimum.
    	Free check writing for first 15 checks, .20/check after that.
    	No interest earned.	
    	$3/mo regardless of balance
    --------------------------------------------------------------------------

                                Dartmouth Bank

    Option 1
    	No minimum.
    	No transaction fee for any ATM throughout US.
     	Free check writing for first 10, $1.00/check after that.
    	$2/mo

    Option 2
    	$300 *average* balance minimum to avoid service fee.
    	Free check writing for first 30 checks, .20/check after that.
    	No transaction fee for any ATM throughout US.
    	$5/mo if *average* monthly balance <$300.

    Option 3
    	$750 *average* balance minimum to avoid service fee.
    	5.25% APR regardless of balance
    	Free check writing for first 30 checks, .20/check after that.
    	No transaction fee for any ATM throughout US.
    	$1500 *average* balance avoids service fee AND per check charge
    	$5/mo if *average* monthly balance <$750
    --------------------------------------------------------------------------

                          Milford Co/Operative Bank

    Option 1
    	5.0% APR on full balance if *average* monthly balance >= $500.
    	Unlimited check writing.
    	Free ATM card (MAC/Pocketbank).
    	$1/mo if minumum balance is >$300.
    	$3/mo and .15/check if minimum balance is <$300.

    Option 2
    	5.0% APR on full balance if *average* monthly balance >= $1000.
    	Money market rates for balances over $2500
    	Higher rates for balances of $15,000.
    	Unlimited check writing.
    	Free ATM card (MAC/Pocketbank).
    	$5/mo if minimum balance <$2500.
    --------------------------------------------------------------------------

                                 Granite Bank

    Option 1
    	$500 *average* balance minimum to avoid service fee.
    	Unlimited check writing.
    	Free ATM at bank locations only. Otherwise .50.
    	$3/mo if *average* monthly balance <$500

    Option 2
    	$500 *average* balance minimum to avoid service fee.
    	Unlimited check writing.
    	Interest bearing account (?? APR).
    	Free ATM at bank locations only. Otherwise .50.
    	$5/mo if *average* monthly balance <$500
    --------------------------------------------------------------------------

                               NFS Savings Bank
                             (See earlier reply)

    Option 1
    	$100 minimum balance to avoid service fee.
    	Unlimited check writing.
    	Free first order of checks.
    	4.5% APR on balances >=$100.
    	$8/mo if minimum balance <$100

    Option 2
    	No minimum, but a constant $6/mo fee.
    	Free checks.
    	Unlimited check writing
    	No issue charge for travelers checks.
    	"Buyers Advantage" warranty extention program.
    	$6/mo fee.

    Option 3
    	$500 minimum balance to avoid service fee.
    	Graduated interest scale (50%-5.5%) depending on balance starting 
    	  at $500 min balance.
    	Unlimited check writing.
    	$5/mo if minimum balance <$500.

    Option 4
    	$250 minimum balance to avoid service fee.
    	Free check writing for first 20 checks, .25/check after that.
    	$5/mo if minimum balance <$250.

                   -< Take DCU's Advise... SHOP AROUND!!!! >-

    I have seen a couple of replies in here on MERCHANTS NATIONAL BANK
    which have offices in (Fitchburg, Leominster and Townsend)
    
    Here are some more details.
    
    o Free Checking with direct deposit
    
    o Balances from 1000 to 4999 earn 4% anything over $5000 earns 5%
      on checking accounts.
    
    o No Charge for use of ATM cards regardless of where you use them.
      (This is great for me seeing XPRESS-24 is just about everywhere)
    
    o All cancelled checks are mailed back to you with your monthly
      Statements.
    
    
    Needless to say I switched to Merchants several months ago and am
    glad I did.
    
    

INSTITUTION	CONDITIONS FOR		SPECIAL
NAME		FREE CHECKING		NOTES
--------------	----------------------	--------------------------------------
MD National	Direct Deposit, OR	BankLine (equivalent to EasyTouch,
Bank		$500 Minimum Daily	  except that it includes histories
		  Balance, OR		  of last 6 checks processed, last 6
		$1500 Minimum Daily	  ATMs, last 3 deposits, ATM locations,
		  Savings Balance	  and much more)
					Free ATM service at over 250 ATMs
					Access to MOST and CIRRUS ATMs at
					  $1.50 per transaction
					Many, many branches with evening and
					  Saturday hours


Carroll County	Direct Deposit, OR	Free ATM service at bank ATMs
Bank & Trust	Senior Citizen, OR	Access to MOST and PLUS ATMs at
		$600 Minimum Balance,	  $1.00 per transaction
		  OR			Branches with evening and Saturday
		$600 Minimum Savings	  hours
		  Balance


First National	$450 Minimum Balance	EasyBank Debit VISA Card
Bank of MD				PhoneFirst (EasyTouch-like) system
					  with ability to check deposits,
					  balances, etc.  First two calls
					  per month free, $.50 thereafter.
					  Calls to check deposits and rates
					  always free.
					Free ATM service at bank ATMs
					Access to MOST, PLUS, VISA ATMs at
					  $.75 to $2.00 per transaction
					  (depending on machine & transaction)
					Many branches with evening and
					  Saturday hours

All of the above also have interest checking with $1000 minimums and interest
rates ranging from 5.0% to current money market rates.

    Here is some more information on banks withing easy lunchtime commutes
    from MK0 (Merrimack, NH).  Again, I have no interest in these banks and
    am merely posting this information for comparative purposes.  I tried
    to be as complete as possible but not all banks give the same type of
    information in their brochures.  Although the DCU options went form
    black to ebony and charcoal, I think that there is a rainbow of options
    available elsewhere.  Still, for some the DCU may be the best option
    overall.
    -------------------------------------------------------------------------

                            Numerica Savings Bank

    Option 1
    	$500 minimum balance to avoid service fees
    	Unlimited check writing
    	   If balance <$500, $0.25/ check after 10 checks
    	$1.50/mo service fee to hold an ATM card.
    	$5/mo if min balance <$500

    Option 2
    	$750 minimum balance.
    	Interest bearing (?? APR).
    	Unlimited check writing.
    	   If balance <$500, $0.25/ check after 10 checks
    	$1.50/mo service fee to hold an ATM card.
    	$5/mo if min balance <$500

    Option 3
	$1500 minimum balance.
    	Interest bearing (?? APR).
    	Unlimited check writing.
    	   If balance <$500, $0.25/ check after 10 checks
    	Free ATM card.
    	$5/mo if min balance <$500
    --------------------------------------------------------------------------

                          Peterborough Savings Bank

    Option 1
    	$100 minimum balance to avoid service fee.
    	Unlimited check writing
    	Non-interst bearing.
    	$1.00/mo to hold an ATM card.
    	$2.50/mo if minimum balance <$100

    Option 2
    	$500 *average* daily balance to avoid service fee.
    	5.0% APR on entire balance if *average* balance >= $500
    	Free check writing for first 15 checks; $0.20/check after that.
    	   (If average balance >= $5,000 then unlimited check writing).
    	$1.00/mo to hold an ATM card.
    	$7.00/mo if *average* daily balance <$500.
    --------------------------------------------------------------------------

                                First NH Bank

    Option 1
    	No minimum balance, but a constant $2.00/mo maintenance fee.
    	Free check writing for first 10 checks; $1.00/check after that.
    	Non-interest bearing.
    	Free ATM card. ($0.75 for foreign transactions)
    	$2.00/mo maintenance fee.

    Option 2
    	$400 minimum balance to avoid service fees.
    	If you have $2500 in a related *savings* account all fees are waived.
    	Non-interest bearing.
    	Free ATM card. ($0.75 for foreign transactions)
    	Unlimited check writing if minimum balance >$400.
    	$4.00/mo and $0.20/check if minimum balance <$400.

    Option 3
    	$500 minimum balance to avoid service fees.
    	If you have $5000 in a related *savings* account all fees are waived.
    	Unlimited check writing.
    	Free ATM card. ($0.75 for foreign transactions).
    	Interst earned (?? APR) on entire balance if balance >= $500.
    	$5.00/mo and $0.20/check if min balance <$500.

    Option 4
    	$300 minimum balance to avoid per check fees.
    	If you have $10,000 in a related *savings* account all fees are waived.
    	Free ATM card. ($0.75 for foreign transactions).
    	Unlimited check writing if balance >$300, else $0.50/check
    	"Highly competitive interst" earned on balance if balance >=$1,000
    	   (Higher interest earned on balance if balance >= $2,500)
    	No monthly service charge regardless of balance.
    --------------------------------------------------------------------------

                            Bank of New Hampshire

    Option 1
    	$300 minumum balance to avoid service fee.
    	First 50 checks or ATm withdrawal free; $0.25/withdrawal after that
    	Free ATM card. (?? charge for foriegn transactions)
    	Non-interest bearing.
    	$5/mo if minumum < $300

    Option 2
    	$500 minimum to avoid service fee.
    	First 50 checks or ATm withdrawal free; $0.25/withdrawal after that
    	Free ATM card. (?? charge for foriegn transactions)
    	Interest erarned (?? APR) no minimum balance.
    --------------------------------------------------------------------------

                                 Nashua Trust

    Option 1
    	No minimum balance, but a constant $1.25/mo service fee.
    	Free checks imprinted with name and address as long as accont is open
	Free ATM card. (?? charge for foriegn transactions)
    	$0.25/check for all checks writen.
    	$1.25/mo regardless of balance.

    Option 1
    	$250 minimum balance to avoid service fee.
    	Unlimited check writing.
    	Non-interest bearing.
    	Free ATM card. (?? charge for foriegn transactions)
    	$5/mo if minimum balance <$250

    Option 2
    	$500 min to avoid service fee.
    	Unlimited check writing.
	Free ATM card. (?? charge for foriegn transactions)
    	4.75% APR on balance if balance >= $500
    	$5/mo if minimum balance < $500
    

North Middlesex Savings Bank

	Main office, Main St., Ayer, MA.  
	Branch office, Great Rd., Littleton, MA
	5 ATMS not now on network, but soon to be on Yankee24 and Cirrus

    If you have direct deposit

	NOW checking account, earning 5.25% interest (DCU is 4.45%)
	   no fees, service charge or minimum balance
	   you get interest on the entire balance

	free atm card with no charge for transactions

    Also, their savings account earns 5.25% interest (DCU is 5.0%)

    They have a drive-up window that opens one hour early and closes one hour
    later than their branches.  They are open Saturday morning until noon
    (or 1, drive-up) and Thursday night until 7 (8 drive-up)
    
    You have to pay to have your checks printed.  But once you set up the
    account you can save money by going mail-order


    

    1st National in Albuquerque is advertising free checking now.  No
    minimums...probably no interest, but at least there's no $2.00
    zinger...
    
    

I too am miffed by the recently changes in fee schedule and the
"more choices.... more options" brochure.

I have checking accounts with DCU and BayBank.  Slowly, BayBank fees
have increased over the years.  For example, the fee for ATM's from
non-BayBAnk machines is now $1.25 vs $1.00 a year ago. (They, in way
attempted to portray it as more options; they called it a straight
new fee schedule.)  But with over 1,000 ATM (?) machines, I rarely
have to worry about the fee. Minimum balance at BayBank is $1,500.

While many banks now offer no-charge ATM withdrawls from all ATM's, I
suspect that over time, fees will be imposed and minimum balance
requirements will go up.  No bank can afford $100 minimum with no fee
ATMs for an extended period of time.

Gim

    No Fees and No interest basic account available in Mass from Safety
    Fund National Bank (member FDIC).
    	No Service fees.
    	No annual fee
    	No minimum balance required 
    	No per check charge
    	No charge for ordering their standard check
    	No ATM charges (regardless of where it's done)!!!!!
    
    They do have some interest bearing checking accounts with varying
    restrictions. Since I keep no more than I have to in three different
    checking accounts, the idea of a basic no fee account appealed to me. I
    opened up the first account over the weekend.
    
    Worcester 791-6271	Fitchburg 343-6406	Gardner 632-1150
    Leominster 537-6426	Westborough 366-7575	

       I think you're talking about 1st Safety Fund Nat'l Bank.
                                    Denny

    re: .16... .15 was right.
    
    It's now officially called Safety Fund (National) Bank.  
    
    Elaine

    oops! sorry.
                               Denny

If you are a DEC employee and have direct deposit to Baybank, all fees to the
'Fee Saver' account are waived.  I consider this a good deal considering what
other services they offer.  I am surprised because I always thought their fee
structure was outrageous.




/Bryan

	

re Note 259.20 by MSBCS::KING:

> If you are a DEC employee and have direct deposit to Baybank, all fees to the
> 'Fee Saver' account are waived.  I consider this a good deal considering what
> other services they offer.  I am surprised because I always thought their fee
> structure was outrageous.
  
        Do you mean ALL fees, monthly and per check?  With no minimum
        balance requirements?  I don't think that this is the case --
        I recently went to their "no minimum" checking, at $8/month,
        no charge per check, because of their recent "expanded
        choices" :-{.

        (In the above, you do say "if you are a DEC employee". 
        Perhaps this is a special deal for DEC employees beyond their
        generally available choices?  I did not inform them, nor was
        I asked if I was a "DEC employee" when I modified my account
        to "no minimum".  Of course, since I have direct deposit,
        they could have known I was a DEC employee....)

        Bob

i had a free checking account at baybanks for a number of years, but 
dropped it about 7 years ago.  it was free because of direct deposit.
twice they announced new fee structures and started charging a fee.
i told them what deal i had signed up for, and they made it free again.
but i suspect some people did not complain.

    
    RE: Baybank and their Fee Saver.
    
    Baybank's Fee Saver program just saves you 2.00 dollars (I think) off
    the 3.50 charge if you have automatic deposit.
    
    However, you pay $.35 for every transaction..i.e withdrawals (X-press
    24 machines included) and checks. You also pay for any deposits (if you
    walk into Baybank and deposit cash,check or whatever) they charge you 
    $.35.
    
    If you withdraw using other ATM machines, you get charged (can't
    remember how much more - but you do get charged).
    
    Soo..the only way you don't pay for service charge at Baybank is if you 
    maintain a 1000 dollar balance in your checking.
    
    Maybe DCU is trying to be another Baybank. DCU could have taken some
    lessons from Baybank. They raised their fees, but they advertised
    for months before they changed their fees, and they certainly didn't
    try to make it look like they are doing you a favor (New choices
    ..etc). I believe they explained in the brochure that they were raising
    their fees due to costs..etc.
    
    But that's the scoop with Baybank..
    try to tell you it was these "new" choices they were offering)

    I've heard that BayBank in Mass. will be dropping their interest rates
    on savings accounts below 5%.  This has alot of Mass landlords upset
    since they are required by law to pay tenants 5% interest on their
    security deposit.