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BUFFALO, NY-- One of the greatest shopping conveniences is about to get more expensive for many consumers. Some of the major banks are reportedly considering a range of new debit card fees to offset financial losses from new federal regulations. "I think everybody is trying to improve their bottom line, and they can get away with it," said U.B. Marketing Expert Arun Jain.
Originally posted by Namaste1001
Sod the banks. Next time I'm in town I'm withdrawing most of my money. I'm going to start using cash as much as possible.
... new checking account fees
Companies:Bank of America Corporation Com., Citigroup, Inc. JP Morgan Chase & Co.
Blake Ellis, staff reporter, On Friday January 7, 2011, 12:03 pm EST
It's like Night of the Living Dead: Every time the feds kill off a set of fees, they come back to life -- just in slightly different forms.
Chase said that on Feb. 8 it will be enrolling new customers in a new Total Checking account and charging them a $12 monthly maintenance fee.
Similarly, Bank of America announced that by the end of the year it would restructure its checking accounts and implement new monthly fees, ranging from $8.95 to $25. And unless you analyze its four new checking offerings carefully to find the one that best fits your spending habits, you could end up paying anywhere between $100 and $300 extra in fees per year. [...]
Originally posted by jaynkeel
reply to post by fixer1967
The sad part is that if they just charge a couple more cents per transaction it adds up to a ton of money, and most people will not notice it for a while, until they start to really count their pennies.