Thursday, September 17, 1998
The University Daily Kansan
Section A·Page 5
Fees numerous, costly for students with local checking, bank accounts
By Chad Bettes
Kansan staff write
Students beware. While they offer convenience, checking accounts and other bank services can become expensive.
In addition to account service charges that may apply depending on the type of account, there are fees for items such as overdrafts, ATM usage, traveler's checks, cashier's checks and money orders.
According to several Lawrence banks and credit unions, the most costly banking mistake a consumer can make is to overdraw an account or to have a check returned for insufficient funds.
Overdraft and bounced-check fees can be as high as $20 at most local financial institutions. KU Credit Union and Capitol Federal Savings charge $15.
Janice Toebben, senior vice president of Mercantile Bank, said students could save money by regularly balancing their checking accounts.
She said bounced-check fees were not only charged by banks; sometimes the merchant that accepted the check and the credit bureau used by the merchant also charge fees.
"A $3 drink can turn into a $50 drink," Toebben said. "And, I don't think any drink is that good."
An option offered by most banks is overdraft protection, where money from another bank account or credit card could be used to pay the check. This option has a
fee, but it is much smaller than the $15 to
$20 fee.
ATMs increasingly are popular among students and other bank customers, Toebben said, because the machines provide convenience. Fees for ATMs are different depending on whether the transaction is conducted at one of the customer's bank locations or at another bank's ATM.
The use of ATMs by a bank customer is usually free at Lawrence banks, but the KU Credit Union charges a $1.50 per month fee for ATM access.
Other area banks charge fees when their customers use another bank's ATM. The fees range from 75 cents to $1.50 per transaction.
The bank that owns the ATM also may charge an additional fee on top of the customer's bank charge.
Charles Drucker, Chicago junior, said he usesd ATMs too often — up to four times per week to withdraw small amounts of cash. He thinks the fees he pays are unfair and equated them to a high percentage rate.
"Eleven and a half percent is ridiculous," Drucker said. "I think a quarter may be more fair, I hate ATMs."
Despite the fees, Drucker said he would not withdraw larger amounts of cash at one time because he would spend it faster.
The customer decides whether the convenience justifies the cost, Toebben said.
Traveler's check fees are standard in Lawrence at 1 percent to 2 percent of the total traveler's check purchase. For example, the fee on $500 worth of checks with a 1 percent fee is $5. The KU Credit Union charges. 75 percent of the total purchase.
"A $3 drink can turn into a $50 drink, and I don't think any drink is that good."
Janice Toebben senior vice president of Mercantile Bank
Cashier's checks and money orders, alternatives to personal checks, cost from $1 to $4 per item. Money orders are 50 cents to $1 cheaper than cashier's checks but usually have a maximum value. Cashier's checks can be made for larger amounts.
Local banks noted that certain account holders qualify for free services, depending on the deposit and loan balances the customer has with the bank.
Toebben offered other money-saving tips for students.
The best thing students can do is build a personal relationship with their banks, she said. The banker who opened the student's account could be a valuable resource in avoiding fees. When students stay in touch with the bank, the bank is more willing to work with them, Toebben said.
Direct deposit of funds into bank accounts and automatic payment of bills from the bank also save students time and money, she said.
Campus group to green up University
Barbecue, camping on ESSA's agenda
By Liz Wristen
Kansan staff writer
Barbecues, camp-outs and student-teaching programs are just a few of the activities filling the calendars of Environmental Studies Student Association members.
The association is planning activities for the fall and spring semesters that will bring students at the University of Kansas together to learn more about what they can do to protect the environment, said Todd Simmons, president of the association.
"There is no reason that KU shouldn't be more green than it already is," Simmons said. "Hopefully through our activities and fund-raisers this year, we can get more students involved in ESSA and at the same time get some exposure for the things we do."
The association is planning a barbecue from 5 to 10 p.m. Sept. 25 at Clinton Lake State Park for Simmons. Simmons said the
barbecue would be an opportunity for students to get better acquainted with the environmental studies faculty and other students in the environmental studies program.
An October camp-out for students also is being planned by the association. Simmons said that the camp-outs would include backpacking through locations in Colorado, Texas or Missouri. The camp-outs will involve low-impact camping, which is trying to leave no trace behind after camping at a location, Simmons said.
"The ideology is to go out and use what you strive to protect," Simmons said. "We want people who are interested in the environment to come out and enjoy the nature we're保护."
Stan Leeb, acting director of the environmental studies department, said he was happy with the number of environmental studies majors at the University and that he encouraged students majoring in environmental studies to get involved with ESSA.
THE ENVIRONMENTAL STUDIES STUDENT ASSOCIATION
The Environmental Studies Student Association is planning many activities for the fall semester, including a barbecue, a camp-out, a benefit concert and a campus recycling program.
- Anderson president of ESSA, said he hoped that the association would gain more recognition this semester for the environmental programs it sponsors.
- Anyone interested in learning more about ESSA or the programs it is sponsoring may contact Simmons at 842-2059.
Simmons said members of the association would be teaching science at Lawrence elementary schools this semester as well. Last year, the members taught lessons about environmental awareness, wetlands and city lakes. The members concentrate on teaching students from second through fifth grade, and Simmons said that the association hoped to teach classes at every Lawrence elementary school by the end of the year.
"The ideology is to go out and use what you strive to protect. We want people who are interested in the environment to come out and enjoy the nature we're protecting."
Todd Simmons president of ESSA
"ESSA brings environmental studies majors together in many ways," said Deborah Snyder, secretary for the environmental studies program. "It provides job opportunities, internship opportunities, peer advising and other activities for students."
Members of the association will be planning many other activities for the semester, Simmons said. These include ESSA Fest, a benefit concert Nov. 20-21; campus clean-up opportunities for groups and organizations on campus and providing scholarship opportunities for environmental studies majors.
Anyone interested in learning more information about the association activities may contact Simmons at 842-2059.
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