Savings Project

1. Savings Project By: Lexi Kahler

2. Chase Bank • Chase Total Checking • Minimum daily balance required- No minimum daily balance required • Fees charged- $12 a month (waived if direct deposit totals $500 or more, a $1,500 minimum daily balance, or $5,000 linked in deposits) • Interest earned- none • Chase Savings • Minimum balance required- $300 • Fees charged- $4 a month (waived if you have a minimum daily balance of $300) • Interest earned- 0.01%

3. Wells Fargo • Value Checking • Minimum daily balance required- No minimum daily balance, but $50 is required to open an account. • Fees charged- $7 (waived if you have a minimum daily balance of $1,500) • Interest earned- none • Way2Save Savings • Minimum daily balance required- No minimum daily balance, but $25 is required to open an account • Fees charged- $5 a month (waived if you have a minimum balance of $300) • Interest earned- 0.01%

4. Bank of America • MyAccess Checking Account • Minimum daily balance required- No minimum daily balance • Fees charged- $12 per month (waived if at least $250 of direct deposit per month or an average daily balance of $1,500 or more) • Interest earned- none • Regular Savings • Minimum daily balance required- No minimum daily balance, but $25 to open an account • Fees charged- $5 per month (waived if you set up an automatic transfer of $25 from a Bank of America checking account, or maintain a $300 minimum daily balance) • Interest earned- 0.01%

5. Ratings • 1- Wells Fargo because they have the lowest fees if you can’t maintain minimum amounts to waive the fees. • 2- Chase Bank because their fees are the second lowest if you can’t maintain minimum amounts to waive the fees. • 3- Bank of America because they have the highest fees if you can’t maintain the minimum amounts to waive the fees.