The Rice Thresher (Houston, Tex.), Vol. 64, No. 2, Ed. 1 Thursday, August 19, 1976 Page: 3 of 12
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TexPIRG bank survey compares area services
by BEV ALLEN
Choosing a bank is an
important, but often hap-
hazard business. And yet, few
persons shop around before
choosing a bank, relying
instead on hearsay, an ad in
the newspaper or even the
sound of a bank's name.
We at TexPIRG would like to
help you make a choice based
on substantial information,
especially if you are a
freshman who has probably
never had to choose a bank.
The chart on this page outlines
the responses we received by
telephone from the 15 banks
we thought Rice students
would most likely use.
The questions were chosen
in an attempt to show which
banks are most economical
and student oriented, al-
though some banks expressed
a deiberate attempt to refrain
from placing students in a
listed in alphabetical order,
not according to any order of
quality.
This information was
compiled on July 12 and 13. It
is only as accurate as the data
given to us; if you find any
conflicting information,
please let us know.
HOW TO USE THIS
CHART
There are two basic costs
associated with checking
accounts: the monthly service
and the price of the checks
themselves. There are,
however, a number of other
costs that may or may not be
apparent. Expenses such as
stopping payment or the cost
of a bounced check are usually
only provided when expressly
asked for. Another not so
obvious cost is the interest that
is lost by keeping high
minimum balances for the free
checking privileges. Minimum
initial deposits also preclude
earnings interest in a savings
account. These cannot
honestly be called free
checking services.
Most banks determine their
MONTHLY SERVICE
CHARGE according to the 3-2-
1 plan, which means that, if
your average (or for some
banks minimum) monthly
balance is less than $100, then
you are charged a $3.00 service
charge. If your balance is
greater than $100, but less
than $200, your service charge
is $2.00. If you balance is
greater than $200, but less
than $300, you fork out a $1.00
service charge. And if your
balance is greater than $300,
your service charge is zip.
Other banks have devised
complicated systems for
computing monthly service
charges. Bank of the
Southwest, for instance, offers
free checking only if you
maintain a $1000 (!) balance
for six months. For a
minimum balance of
they charge nothing for the
first 15 checks written and 6<P
for each additional check. If
the minimum balance is $300,
you get to write 4 checks free,
the fifth check costs 60<P and
each check after that costs 6<F.
If the minimum balance is
$200, the first check costs
$1.02, while all subsequent
checks written cost 6<P.
Although everyone knows
that hot checks are illegal, as
well as bad for your credit
rating, we asked each bank
what they charge for
BOUNCED CHECKS. All
banks charge between $5.00
and $7.50.
STOP PAYMENT charges
range between $2.00 and $7.50.
Stop payment orders happen
when you write a check and
then decide you should not
have written it. In that case,
you ask your bank to stop
payment. If the check has not
yet returned to the bank and
the bank can issue an order for
which it will charge.
Checks cost money, too.
Although some banks otter
FREE LINE CHECKS (the
kind without your name,
address, or account number of
them), you will probably want
to invest in personalized
checks, saving yourself the
trouble of writing all of your
personal data on each check.
We have listed the cost of
scenic (fancy) and non-scenic
(not fancy) checks for each
bank surveyed.
If you don't have a car or a
friend with a car, you may
want to know which banks are
either within walking distance
or offer free postage envelopes.
By assessing your own
banking requirements, you
can use this chart to compare
banks and determine the least
expensive plan. Only you can
determine which is best for
you. We hope this will help.
ADDRESS
Chemical
Bank and Trust
3201 Kirby
Bank of
the Southwest
910 Travis
Texas Texas Commerce
Commerce Bank Medical Bank
721 Main 6545 Main
University
State Bank
5117 Kelvin
Liberty Bank
3200 Montrose
Bank
of Houston
5115 Main
UNCONDITIONAL
FREE CHECKING
Senior Citizens,
non-profit orgs.
with $1000.
account for 6 mos.
no
no
no
Senior Citizens
no
FREE CHECKING
WITH MIN. BAL.
$:)oo.
$1000.
$300
$300
$300
$300
no
MONTHLY
SERVICE CHARGE
(BAL/CHARGE)
3-2-1
vanes -see
explanation
below
3-2-1
3-2-1
$1 +/$2.00
$100 +/$1.50
$200 +/$1.00
3-2-1
$100./$1.00
(3 free checks.
5c each other
MINIMUM INITIAL
DEPOSIT
BOUNCED CHECK
$25.
$6.00
$100
$7.50
$100
$7.50
$100
$7.00
$50
$5.00
$100
O
$7.50
$100.
$5.00
CHECKS
200 PERSONALIZED
(SCENIC/NON-SC)
$6.00
$5.00/$5.00
$5 00
$3.46/$3.l8
$5.00
$4.00/$3.12
ss m
$3.40/$3.17
#5.00
-/$3.50
$7.50
$3.65/$3.40
$2.00
$3.26/$3.13
FREE LINE CHECKS
H6
yea
no, $3.12
temporary only
yes
$1.50/150 checks
Tin
RANK BY MAIL
yes
yes
yes
vea
yes
FREE POSTAGE ENVELOPES
nn
VPS
ves
L 7
HOURS
9-2, M-Th
9-6, F
Drive-in—
7:30 - 6, M-F
8 -1. Sat.
7:30- 5:30, M—F
7:30 - 5:30, M-F
9-3:30, M-Th
9-5:30, F
Drive-in—
7:30-5:30, M-F
9-2, M-F
9-12:30, Sat.
9-2:30, M-Th
9-6, F;9-12:30, Sat.
Drive-in—
7:30-6, M-F
9-12:30, Sat.
9-4, M-Th
9-5:30, F
Drive-in —
7:30-5:30. M-f
SPECIAL STUDENT
SERVICES
no
no
student loans
poosibly in future
no
no
no
ADDRESS
First International
Bank in Houston
1801 Main
Fannin Bank
1020 Holcombe
Medical
Center Bank
6631 Main
First City
Medical Center
6424 Fannin
Plaza del Oro
Commerce Bank
1505 Fannin
South Main
Bank
First ^National Bank
of West University
First City National Bank
of Houston
1001 Main
UNCONDITIONAL
FREE CHECKING
yes - with student
ID and TX dr lir
no
no
UT & Baylor Med
no
no
no
no *
FREE CHECKING
WITH MIN BAT
no
no
$300
no
$300
$300
$300 or Savings
$300
MONTHLY
SERVICE CHARGE
(BAL/CHARGE)
free
$1.00/month
6«/check
Bal. $200 +
25« credit for each
$100.
3-2-1
3-2-1
3-2-1
3-2-1 or
$.50/mo + $.10/ch
hallance $2000
3-2-1
3-2-1
MINIMUM INITIAL
DEPOSIT
$100
$100
$100
$50
$100
$100
none
$50
BOUNCED CHECK
j/.ou
$5.00
$5.00
$7.50
$7.5o
$7.50
$5.06
$5.00
STOP PAYMENT
$5.00
$2.00
$5.00
$5.00
$5.00
$5.00
$5.00
$3.00
CHECKS
200 PERSONALIZED (SCENIC/NON-SC)
$3.34/$3.13
$3.35/$3.12
$3.84/$3.63
$3.35/$3.12
$3.25/$3.00
$3.75/$3.50
$3.50/$3.00
$3.25/$3.25
FREE LINE CHECKS
yes
yes
no
$1.25/50 checks
temporary
yes for 50 checks
no
no
yes
BANK BY MAIL
yes
yes
yes
yes
yes
yes
yes
yes
FREE POSTAGE
ENVELOPES • '
yes-for students
only
no
yes
no
yes
yes
no
no
HOURS
8:30-4, M-Th
8:30-5:30, F
Drive-in—
7:30-5:30, M-F
9-2, M-Th
9-5:30, F
Drive-in—
7:30-5:30, M-F
9-5, M-Th
Drive-in—
7:30-6, M-F
9-3:30, M-Th
9-5:30, F
Drive-in—
7:30-5:30, M-F
y-2, M- l'h
9-6, F
Drive-in—
7:30-6, M-F
7:30-12:30, Sat.
9-2, M-Th
9-5:30, F.
7:30-5:30, M-F
9-2, M-F
9-12:30, Sat.
7:30-5:30. M-F
SPECIAL STUDENT
SERVICES
30 min. free
parking
no
no
student loans
no
only if parent
also has an
account
no
federally insured
student loans
Certificate Number
(for Official use only)
Last name f
Register
To Vote
The Rice Democratic Caucus
would like to see as many Rice
students as possible voting
next November. Anyone
attending Rice may us6
the form below. The
permanent address for those
living on campus is 6100 S.
Main, Houston, 77005. The
mailing address is the post
office box for one's college. The
form should be mailed to:
Assessor-Collector of Taxes
County CouthouSe
Houston, Texas
the rice thresher august 19, 1976 page 3
l-'irst name (do not use husband's first name)
Maiden surname if married woman
PERMANLNT RESIDENCE ADDRESS
Street & apt tt or route u or location (not P O Box)
City Zip
MAILING ADDRESS II DIFFERENT FROM ABOVE
Street or P O Box
Zip
VOTER REGISTRATION APPLICATION
Mail or deliver to Tax Assessor-Collector of county of residence after completing every Wank
Effective on 30th day after delivery to Tax Assessor-Collector
TYPE OR PRINT IN INK
' FILL IN ALL BLANKS BELOW DOUBLh LI N't
Social
Security
No
Birth
Date
Birth
Place
SI X
(VI/1 i.
or Foreign Country
* The disclosure of social security number is voluntary only, is solicited h\
authority of Section 45b. Texas Election Code, and will he used only b> election
officials to maintain the accuracy and integrit> ol the registration records
Application Number t
(lor Official use only>
II naturalized,
court or its
location
If now *
registered —
another • Name of County
I
( ount
1 ast Residence Vkiu-sv •• i
_
I certify that the applicant i> a citi/en ot ihe I nned
States, has met all legal requirements and holds
legal residence in this county I understand that ihe
giving of false information to procure the registra-
tion ol a voter is a felony
SKiNATt RE OF VOTER OR \< ENT
x J
Agent must he a registered voter anil must l\
only (Circle one applicable)
Husband-Wife-Mot her-1 at her-Son-Daughter
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McFarland, Carla. The Rice Thresher (Houston, Tex.), Vol. 64, No. 2, Ed. 1 Thursday, August 19, 1976, newspaper, August 19, 1976; Houston, Texas. (https://texashistory.unt.edu/ark:/67531/metapth245293/m1/3/: accessed July 18, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Rice University Woodson Research Center.