Bob
Albuquerque,#2Consumer Suggestion
Mon, May 01, 2006
I think you better teach your daughter about finances - she is losing 10% of her money. It is not a large amount but why not open a checking account, some banks have no minimum balance and no charges. Put in $10 and leave it there. Then she can cash her checks for free AND be building some her credit score. I don't know if Huntington Bank has no fee-free checking but if they do I would say have her open an account and destroy all the checks (eliminate temptation).
Robert
Wallingford,#3Consumer Comment
Mon, May 01, 2006
It is very rare to find a bank that doesn't charge a fee for non-customers. Some even require a thumb print. It's pretty much an incentive for the person to open an account just like overdraft fees are an incentive not to spend more than what is in your account. That's how banks stay in business by generating new customers (as well as charging fees). If there are other local banks that do not charge this fee, perhaps she should be cashing it there. Sometimes convenience costs. Perhaps her grandmother could send her gift as a money order or a cashier's check instead of a personal check. Some banks will waive the fees for money orders and cashiers checks for senior citizens. Just a few thoughts. Good luck.