Bank Accounts

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I went with a friend of mine to start up a bank account. While speaking to the account's manager she was informed that in order to start a bank account at that bank she would need to deposit $300.00 into the account to get it going and that the next day she would be able to withdraw that money if she wanted.

Now does this make sense to anyone??? It sure doesn't to me. If you need a set amount to start up an account, then why on earth would be able to withdraw it all the very next day????

Why not just lower the amount needed to start the account in the first place and save some paper work, trees, time and headache?

Of course she didn't have all the money needed to start her account and had to ask her parents for a loan so that she could get things in motion.

I just wonder who's lame brain idea it is to come up with rules such as this. It really makes no sense what so ever.

[Rae74]

I got a bank account at Sun Trust with only one hundred dollars to start and no monthly fee and no minimum balance.

I just started the account a few nonths ago,I could not find a bank that had a free account and no minimum balance requirment in order to get the account for free.

Sun Trust did not even do a credit check in order for us to get the account.

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Her account is also supposed to be free with no minimum balance needed execpt to start up the account.

That is what makes no sense to me what so ever. I don't know why banks do this kind of shit.

I think it is to simply find out what their customers are willing to do to get an account. Like I said before she had to borrow some money from her parents to get the account started.

I really don't think that FREE bank accounts should come with a set amount needed to start them off with.

I wanted to take her to another bank, but she refused because she wanted a bank which was close to home and this was the only one in the area.

Banks hand out more bullshit than they do money!!!!