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Banking Fees Continue to Rise

walter — Mon, 25 Jul 2011 15:23:29 +0000

Banks are in business to make money. They accomplish this in a couple of different ways. First off, they earn interest on the money that they loan out. They pay part of this interest to their customers who have money market accounts, CDs and other interest-bearing accounts. They also make money from the fees they charge customers for things like checking account maintenance, ATM withdrawals, overdrafts and cashier’s checks. It’s no surprise that banks rarely lower their fees. But fees have been on the rise lately due to lower profits. The recently passed Great Recession and Credit Card Act includes...

Finding the Hidden Fees in Checking Accounts

walter — Fri, 12 Nov 2010 16:17:08 +0000

Many of us have our checking account in order to make our lives more convenient. For some transactions, writing a check is still preferable to pulling out our credit or debit card. Because our checking accounts are so utilitarian in nature, we probably don’t expect to earn much (or perhaps earn any) interest on our account balances. But we also don’t expect to pay much in fees, either. As part of your diligence in maintaining control over your financial situation, you should always be fully aware of all the fees and charges you’re paying (not just on...

Watch Out for Banking Fees

admin — Wed, 22 Apr 2009 17:03:19 +0000

As we all know banks have been hit very hard with the economic downturn and they are searching for more and more “nickel and dime” charges to pass along to consumers to increase their earnings. Here are some suggestions for avoiding two of the more common fees that banks assess: Don't use another bank's ATM. Over 99% of ATM's now impose a surcharge that now averages almost $2.00 on cash withdrawals if you are not a customer of theirs. To avoid these ever-growing fees, use your debit card to make a purchase, and just ask for cash back. Keep your check book...