Banks in a fee for all

 Banks in a fee for all

Banks in a fee for all

Bank of America announced last week to drain $ 5 per month for customers who use debit cards - while the other major banks for pursuing a "free check-up" to extinction.

Two years ago, 76 percent of banks offered free checking is now only 45 percent do not. Overall, 60 percent more bank accounts to make payments and / or minimum balance required compared to last year, according to research carried out Bankrate.com.
Citibank has increased the cost of $ 8 $ 10 monthly checks, and Bank of America and TD Banknorth are, or will soon be introduced, not least the accounts, which carry monthly fees between $ 3.99 and $ 9.
"Banks have been working overtime to invent new fees, new traps for old charges and increase the amount of the fees," said Russ Haven, a lawyer in New York Public Interest Research Group.

Debit cards, which usually come with checking accounts, they are attacked with Wells Fargo and Chase customers by $ 3 per month in the pilot programs.

Big Apple already ranks in the top five American cities in the maximum share ATM - an average of $ 1.64 for its customers.

It seems that the banks hope to recover the lost revenue - due to "tax grab" law last week, that halving the amount that banks can charge to save every time a customer uses plastic, and the law of last place a year open-top fees to collect it.

"Savvy consumers are not going to defend those rights," said Greg McBride, senior financial analyst at Bankrate.com. "They will resort to other methods or will go elsewhere."

Thus getcha

Bank of America

The basic control

$ 6 to $ 9 per month. No minimum balance.

Fresh Flow

$ 5 per month

ATM fees

€ 2, $ 3 for non-ATM BoA BoA customers

CITIBANK

Verification

$ 10 per month, if less than $ 1,500 or more .*

Debit rates

Not

ATM fees

$ 2 to $ 3 ATM Citi not to non-Citi clients

* Fee waived with a combination of direct deposit and pay bills online.

CHASE

The basic control

$ 12 per month if it is less than $ 1500 minimum *

Debit rates

$ 3 per month **

ATM fees

$ 2 on non-Chase ATM * 3 $ for non-Chase customers

* Fee waived with direct deposit of $ 500 monthly

** Not yet in New York. Currently tested elsewhere

WELLS FARGO

Verification

$ 5 per month if less than $ 1.500 * min

Fees charged

$ 3 per month **

ATM fees

$ 2.50 in non-WF ATM $ 3 for non-customers WF

* Fee waived monthly direct deposits $ 250.

** Not yet in New York. Also being tested

TD BANK

The basic verification

$ 3.99 per month. Not the smallest.

Debit rates

No

ATM fees

$ 2 on non-ATM TD $ 3 for non-customers of TD

HSBC

Verification

$ 3 per month. Not the smallest.

Debit rates

Nothing

ATM fees

$ 2 for non-HSBC ATM $ 3 for non-HSBC customers