I am required by Republic Bank to have a checking account with them in order for them to hold my mortgage. That also requires 7 transactions a month through the account.
This checking account requires 2 debit cards. It charges me $1 per card if the card is not used at least once each six months.
If they start charging me $5 a month for the debit cards I don’t want or use, I’m going to be pretty mad.
Now I don’t have a problem with the account requirement. RB has good terms on the mortgage and in return they want some business from me. I will add that RB hasn’t sold the mortgage and the agreement does state that if they were to do so, the checking account requirement is void.
The $5 monthly charge applies only if you USE the debit card in any one month.....that is my understanding, but please double check this.