Originally posted by neelnug:


I don't know any banks that charge for deposits?

Banks lose money on small checking accounts (anything less then $2000 sometimes more) The only way they can make money off these small accounts is service charges and check cards.





My understanding always was that the chequing account was really nothing more than a sales vehicle -- to make you thier customer and thus make it easier to market investments and loans to you.

In fact, in "the good ole days", before instant electronic credit reports, the only way most people could get a loan was through thier bank, and only if the account had been in good standing for some time.

Now things have changed though, with "mortgage companys" that do nothing but mortgages, thus having no overhead. Independent credit card companys, and internet-banks.

-- Steve