First Bank of Owasso

[AKguy1985]

read your mail. BOK sent out notices last week telling that if you don't keep a minimum balance of like $1400 they are going to start charging $7.95 a month Obama bailout fee.

I got that letter today

Checks clear faster than ever these days. By keeping your money an extra few days, they get more "float" on it. The float is what a bank makes money off of regardless of transaction type. As long as it's in their account and not yours, they get interest on it.

i see, makes sense

I have not received any notices, in the mail or electronically (I receive electronic statements). In fact, my account type - Free Checking 2.0 - isn't listed as being offered/available on the website any longer. I have not been charged any fees to date.

This happened to be before (at a credit union I used to use), and they grandfathered those with old, free accounts. Any chance BOK would do the same?

You gotta have atleast $300 in direct deposits or keep a $1,400 balance to keep the checking account free at BOK as of april 1st. Such said the letter i got in the mail today.

 

[vvvvvvv]

You gotta have atleast $300 in direct deposits or keep a $1,400 balance to keep the checking account free at BOK as of april 1st. Such said the letter i got in the mail today.

You could always let an account manager know that your funds will be leaving by March 31 because of those fees and see what happens.

 

[david04]

Holds on deposited funds are standard, especially a new account. After some history with them, they wont do that so much, at least on paychecks, etc. Personal checks may still have a hold. I've spoken to a manager before at a bank and gotten them to release a small portion of the held funds. I really needed it and they released enough to get me by till the rest came off of hold. That was F&M bank, BTW

 

[tRidiot]

You could always let an account manager know that your funds will be leaving by March 31 because of those fees and see what happens.

Fat chance. Nothing will happen except that they say, "Ok, see you later."

 

[Kmarcm]

i use arvest for my in town business stuff. i also keep a Bank of America account for out of town stuff. i really like arvest a lot. been with then for 2 years of business now,

 

[inactive]

You gotta have atleast $300 in direct deposits or keep a $1,400 balance to keep the checking account free at BOK as of april 1st. Such said the letter i got in the mail today.

Ahh, thanks for the info. I haven't seen ay letters yet but you mentioned they were just sent out. I am out of town so I am not seeing my mail until this weekend.

$300 in direct deposits (per month, presumably) is a pretty lax requirement to keep the account free. So it's not "free" free, meaning you could have a maintainence charge. But the vast majority of people using this as their primary banking/checking/bill pay account will have no problem meeting that requirement.


I used a CU until I moved back to Tulsa. I was a member of my employer's CU, but their ATM locations were horrid in Tulsa. Entirely inconvenient. So I switched. I looked as some around here (Red Crown, Western Sun) but they didn't look any more impressive on checking (I keep my liquid savings elsewhere) than what BOK offered at the time.

 

[Lurkerinthewoods]

I have used Arvest for the past 10 years or so. I have never had a check get held. When I make a deposit with a check my online checking will show 100.00 avail immediately and by the next morning it shows the total deposit avail. When I had some deadbeat renters, their checks bounced all the time and Arvest still made the funds avail the next day each and every time I deposited them.

 

[flatwins]

If your financial institution has "Bank" at the end of their name instead of "Credit Union", you're doing it wrong.

Ditto here.

 

[cmhbob]

Have had zero problems with USAA Federal Savings Bank. They know customer service.

Except for them, I agree with statements that credit unions > banks.