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Banks Charging MORE Fees?

Banks Charging MORE Fees??

While watching the news this evening (by the way this does not happen often as it is generally depressing), I viewed an article about the fees banks charge to their customers... Have you ever wondered if those fees add up to much? I was astonished to learn the fees add up to billions of dollars. Yes, banks are in the business to make money but come on.

The fees they charge for over-draft protection $35.00? Inactive account fees $5-10 a month? The fee when the account drops below a certain balance (they forgot to tell you about the dollar amount) $5.00 a month? What are the per check fees now? How much do you pay for your ATM access $3 or $4 a time? How much is an over-draft $30-$40 a check? (this has never made sense to me. Obviously, if you have insufficient funds in the account to begin with, charging an extra fee is not going to help.)

Do you wonder how many banks know what their fees are? According to the report, 42% do not have documents about their fees on site. The others send you to their website and the information is not available there either. So do you know the fees you are being charged? It might be time to take a closer look at your statement.

Yes, the banks are charging more and more fees for what used to be FREE services. During this tough economic times, shouldn't they be refunding some of those fees?

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Posted by Ann Hayden Wildwood St. Louis MO Agent SelectAnn.com for your real estate on 10/15/2009 10:08 PM

Comments (14)

Banks in the ActiveRain Channel

bank fees, more fees, banks charging more

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14 Comments on Banks Charging MORE Fees?

OCT

Hi Ann~ It appears that the banks can do whatever they please since they have all the money,LOL! It is absurd that they can, and do, get away with most of these fees!

They do charge a lot for not having enough money in your account. You would think people would learn.

Hi Vickie,

I guess you are right...because they can and do charge for things I cannot understand.

Thanks for stopping in to comment, I appreciate it!

Ann

Wow I don't think we deserve any more fees right now! They should be encouraging us to trust them again, not piling on more costs. But if anyone, they can get away with it.

Russ,

Yes, you think people would learn but why do the banks get to charge so much for that?

Ann

Michael,

I was shocked to learn how much the fees add up to... literally BILLIONS!

Ann

Hi Ann, People should watch their accounts - sometimes we don't even realize how much those fees are - if everything is associated with a fee, they should really switch banks.

Many years ago, I heard one bank was considering charging a fee to use a "live" teller, compared to the automatic tellers - now that's ridiculous! Of course they never did it, I'm sure they just created another hidden fee someplace else.

OCT

Fees are getting out of control. There has to be a better way to notify the public of the fees that are charged. I took a stand and moved my account from a large bank to a local bank. My account at the larger bank I had since 1995. I was considered a premier customer, received extra services and consideration in return for the bank receiving all my business. Then when the floor fell out from under us all that service stopped and the fees kept a coming. The local bank I am with provides me personal service and I am much happier.