Many, if not most banks will entice customers to open checking accounts with as little as $25.00, however they require the account holder to maintain minimum balances of up to $1,500. And if the minimum balance is not maintained, the customer gets charged a penalty. This is a scam that puts the poorer people in a position of paying the bank a minimum balance fee from the moment they open an account.
Tell Congress and the Obama Administration to close the gap! Make it illegal for banks to open new accounts for amounts below their minimum balance requirements. This will require banks to make a decision: either they lower their minimum balance requirements to more universally affordable levels and attract more business OR limit their services to only those people who can afford them.