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It's not a free account, but you've basically just named two of the very few fees; this makes it significantly cheaper than a Chase Total Checking account ($12/
by jdiaz5513 10y ago
It's not a free account, but you've basically just named two of the very few fees; this makes it significantly cheaper than a Chase Total Checking account ($12/mo for those who do not meet balance requirements, not even counting massive overdraft fees).
Bee makes it (nearly) impossible to put the account into a negative balance, and has no concept of an overdraft fee.
Another big win is mobile check deposit. Customers can deposit checks with instant availability for a 1% fee or use standard clearing for free; this is substantially cheaper than check cashers.
- fossuser 10y agoInteresting - yeah the big differentiater seems to be that with Bee you can get instant access to your check for 1%. Simple has ATMs you can use for free which are pretty common which covers that and also has no overdraft fees (or concept of overdraft really). Simple has no monthly fee though which is a point in its favor - it also lets you do most of the same thing (lock cards, mail a check etc.).