From: Erik Altmann <altmann@NATASHA.MACH.CS.CMU.EDU>
Date: Fri, 10 Nov 89 09:19:05 EST
To: bovik@CS.CMU.EDU
Subject: comparative banking info, 11-8-89


Here's a summary of responses to my post seeking up-to-date bank
information.  It also includes details for the banks I looked at.

I only looked closely at Horizon, Equibank, and Dollar; these seem to
be as good as it gets.  My constraints are: smallish deposits, no
direct deposit, free checking with checks returned, cheap and
accessible atms, no complicated minimum balances, and good service
with no sales pitches.

Horizon is the best deal all round, and the people are very nice.

Each of the banks below (except Equibank) was mentioned in a response.
People talked about their own banks, and no bad experiences were
reported.  The fear of S/L insolvency showed up, but one person said
they had money in one elsewhere that went belly-up, and had access to
his money with a couple of days.

	----
	Legend:  wdd = waived with direct deposit, i-b = interest bearing,
	         i-f = interest free checking.
	----
	
	Horizon (S/L):
		savings: 5%, $2/mo when under $100
		i-b checking: 5.5%, $5/mo when under $400, wdd.
		other:
		    + i-f checking has no encumberances.
			+ free bank-by-phone.
			- $1/mo flat fee for atm (all flavours), starting 1-90.
			+ very friendly.

	Equibank (prole):
		savings: 4.75% when under $1000, 5.6% if above.
		i-b checking: min $500 (?), wdd.
		i-f checking: 1st 5 checks free, then $.50/check.  checks not returned.
		other:
			- no guarantees on free atm use past 1-90.
			- heavy sales pitch for the yuppie plan (below).

	Equibank (yuppie):
		bank-by-phone, min bal waived on i-b checking, other bells and
		whistles, $5/mo.

	Dollar:
		"free" atm, with $250 in i-f checking.  other saving/checking
		combos, where enough money in savings waives other
		restrictions.  complicated fees when balance not in order.

	PNB:
		$.04/transaction on Trinet machines (does not include Mellon).

	Mellon:
		free atm with Mellon machines, $.75 (?) on others.