Is the honeymoon over for your free checking account? You may have been enjoying it, only to frantically discover that same free checking account is suddenly disappearing. Now it has new strings attached to avoid the monthly fee, you may have to maintain a $1,500 daily balance or receive a monthly direct deposit of $300 minimum.
Bank account fees are going up. So, how do you know if your account fees are changing? Check your account statement for change notification inserts or look for special communication mailers from your bank. If you have not received any communications, just pick up the phone and call your bank to ask if your account fees are changing.
Check out the articles below to learn more about bank fee changes:
- How to slay new checking account fees – This article delivers on its title. It tells you what you can do to avoid bank fees.
- Know Your Bank’s New Checking Fees To Avoid Getting Slammed – It’s what you don’t know that can cost you.
- Expect Even More Fees From Banks This Year – Gives you more insight into other bank fee changes (e.g. debit card) that you could possibly see in 2011.
Many financial experts anticipate bank fees will continue to go up, to recoup for lost revenue due to the new federal regulations intended to protect consumers. For example, the opt-in required for debit and ATM cards that went into effect this past summer.
Watch the video below to learn more about what bank fee changes you could expect this year and how you can avoid them:
What are your thoughts on banking fees going up? How will the new checking fees change the way you bank?
Photo: TheTruthAbout
I have a primary checking account and opened another one because they gave me $50 to open it. They were not charging me anything, but I read my mail and found out they would start charging a fee if I did not maintain a certain balance everyday or have direct deposit of a certain amount.
I decided to go and close the account.
Thanks for sharing your experience with us Ann! It sounds like your account was just something you opened to take advantage of the $50 incentive. Good thing, you stay on top of your mail and avoided the bank chipping away at your $50. 🙂