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Nickel-And-Diming By The Banks

Sunday, May 15, 2011 - 7:43 AM
There are some interesting examples of how banks are nickel-and-diming their customers in this Wall Street Journal article. Here are a couple:
US Bank - Returned statement fee (for two or more statements returned as undeliverable): $5 each

SunTrust - Online external transfer (moving money to an account at another bank): $3

The fee I dislike the most is account inactivity fee, and it's not just the large banks that have these. Many credit unions and community banks have these.

What bank fee has irritated you the most?
3
Ken TuminKen Tumin5,442 posts since
Nov 29, 2009
Rep Points: 123,743
1. Sunday, May 15, 2011 - 9:31 AM
I'm not too bothered by the inactivity fees some banks started to charge (usually it's a long time like a year of inactivity). If that fee is about to get charged because of inactivity, then there's usually a reason for the inactivity. I either close the account or if I want to keep it open, I simply do an ACH once a year or so.

What irritates me more are the regular monthly service fees. They have my money and earn themselves silly with it and then charge me money for that?

And to top it off, many banks tease you with things to do to avoid those monthly service charges. What I find REALLY offensive is to have one of those things being a monthly minimum daily balance not of $500 or $1000 or even $1500 - no a minimum daily balance of $5000! Five thousand dollars in a checking account???!!! To that (hint: everbank) I say: **** you! I'm taking my money some place else where they are less greedy.
3
darkdreamer4udarkdreamer4u174 posts since
Jun 11, 2010
Rep Points: 630
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