Bank customers can expect new fees for using ATMs, talking to tellers, transferring money

[Newsjock]

Source: Cleveland Plain Dealer

... Consumers nationwide this year can expect a slew of new bank fees, ranging from charges to talk to a teller, use an ATM or transfer money between accounts.

Fees like these are on the rise this year as banks nationwide grapple with how to recover billions of dollars in lost revenue now that they can't make as much from overdrafts fees, credit card interest a nd debit card usage fees as they once did.

... Citibank, for example, charges a $30 monthly checking fee for customers who don't have a combined average balance of $50,000 for all deposit or retirement accounts, or $100,000 in deposit, credit, investment and retirement accounts or a $250,000 Citi mortgage. A customer can choose a different checking account with lower requirements, but will have to pay an annual fee for a debit card.

Most banks that are increasing minimum balances aren't going that high - typically $2,000 to $6,000.

Read more: http://www.cleveland.com/business/index.ssf/2011/04/bank_customers_can_expect_new.html

[TransitJohn]

1. Remember when those fuckers paid us interest?

Banking is the same as insurance: extortion and racketeering. How come no one ever goes to prison?

[leftstreet]

6. Do you remember Christmas Club Savings Accts from the 70s?

I remember people (regular working class people) had them

LOL I'm old

[starroute]

15. Yes, but I also remember that they didn't pay interest

They were sold as a way to force yourself to put money aside so you'd have it available come the holidays.

I think the feds eventually forced them to pay the same interest as on regular savings accounts, though.

[Bonobo]

2. Reality is that ATMs save the banks money that should be passed onto consumers.

That's the way they first sold the damn things.

[cliffordu]

9. Yep.

[msongs]

3. sorry but I don't use those kinds of banks :-) nt

[Newest Reality]

4. Predatory Banking!

When fees and penalties are that important, you know they are a major cash cow. What happened to lending? Oh, yeah, right.

They can't literally "make" more money with fractional reserve banking like they used to.

It is time to find and use alternatives.

[Poll_Blind]

5. "Uh, how about 'What is Fuck Those Banks, I Have A Mattress', Alex?"

"Correct! Pick another category!"

PB

[Tunkamerica]

7. I'll take the rapists for 200 alex.

[Edweird]

18. Anal bum cover.

[aquart]

8. Gotta keep up those bonuses.

[Rage for Order]

10. Only if people accept the fees

Change banks. Join a credit union if you can; otherwise, use a local or regional bank. Avoid the megabanks (too big to fail) at all costs.

[BzaDem]

11. Then people will just cancel their checking accounts and move it elsewhere. n/t

[OffWithTheirHeads]

12. No they won't! The average U.S. Citizen has the brain of a lizard.

If it isn't on " the bachelor" they don't understand it.

[Ilsa]

19. Or they'll watch their low balances get eaten up with fees, then they'll close it. nt

[Rex]

13. Fuck that. Goodluck with that crap.

Greed is the reason for the season.

[Lugnut]

14. Two words.

Credit union.

[Unrepentant Fenian]

16. This will only help the Credit Unions nt

[JDPriestly]

17. Why should I have to pay my bank to hold my money?

How in the world can a bank seriously suggest that it would charge me for depositing or withdrawing my money?

It is still my money. If I put savings in the bank, I don't get any interest on it nowadays.

Maybe I should just rent a safe box in the bank, store cash in it and walk in and get cash when I want instead of using the ATM or going to a teller.

The bank is supposed to take the money in my checking account, invest it and make its return. It isn't supposed to charge me for taking my money and investing it. This is crazy.

[quaker bill]

20. Credit Union, need I say more?

[indimuse]

21. $10.00 fee to use atm (capital one)

sick!