Thanks for the replies. Regarding DH's bank card I think i'll just ask him to leave it in the cash bowl instead of keeping it with him all the time, then i'll know when it's gone and we'll have it around when we need it. DH is really good about using cash, just sometimes he wants to go out and get something and doesn't bring the cash with him and uses the card instead, keeping it at home with the cash would atleast then tell me that he has it.
About the banking fees:
Ideal if you prefer self serve banking but don't do many transactions.
* 10 self serve transactions/mo.
* 4 full serve transactions/mo.
* $3.95 monthly fee, waived with min. $1,000 balance1
Self Serve Account
If you have an active account, pay bills by phone and use the Web and automated banking machine (ABM), this account is for you.
* 20 self serve transactions/mo.
* $6.95 monthly fee, waived with min. $1,500 balance1
Full Serve Account
If you like personal service - in-branch and operator assisted telephone service - this is your account.
* 25 self serve or full serve transactions/mo.
* $9.95 monthly fee, waived with min. $2,000 balance 1
Unlimited self serve transactions can mean big savings for very active accounts.
* unlimited self serve transactions
* $12.95 monthly fee, waived with min. $3,000 balance1
Full serve transactions are when you go INTO the bank and talk to a teller, do your banking at the counter, self serve are anything else, direct deposit/withdrawal, debit card usage, online payments etc. I want to keep our banking fees under $10 a month, so the self serve account is out of the question because I go into the bank atleast 4 times a month which is 1.50 i believe each time if not covered by your account. The full serve account may be better for us if we continue to use the bank card because it covers the transactions we would do (more than covers them) but the fee for that is my $10 and then i'd have our overdraft fee of $2 on top of that.. like i mentioned i'd like to stay under $10, and the minimum balance is twice as much for the fees to be waived.
I also did a bit more research on our savings account and it seems like quite a rip off at this point so my plan with the bank accounts is to either..
a) Close our savings account all together and move the balance to the chequing account which would waive the chequing account fees but also make it pretty darn confusing when figuring out how much is savings versus our payments etc and might make DH think he can use his bank card whenever.
b) continue to use the chequing account as is, attempting to keep under our 10 transaction by keeping an eye on DH. But switch the savings account to a chequing account so that the fees are waived and we don't have to worry about going over the transaction limit on it (because we won't be using it, it'll just be holdings)
any opinions on which would be easier? we use cash for all spending money, we only leave $$ in accounts as savings or for direct withdrawal payments.