Monday, May 17, 2010 - 1:27 PM

Tips on Avoiding Bank Fees

Bank fees may get worse with the new overdraft rules. This MintLife blog post describes how you can be hit with bank fees if you're not careful. One example cited in the article was a monthly maintenance fee at Bank of America that started to appear after a mortgage was no longer held at the bank.

KenBDG5,147 posts since
Nov 29, 2009
Rep Points: 117,067

1. Tuesday, May 18, 2010 - 4:46 PM

Hey Everyone,

Wanna talk about a bad fee... I just recieved an email from M&T Bank stating that starting May 15, 2010 that they will be imposing a $3.00 fee on every ACH Transfer that is originated from their bank.

I guess my days are done with that bank considering how much I use this system. I hope this is not a growing trend in the Banking/CU community. This is something that will have to be on everyones radar at this point!!!

Spencer.

spencer_jr2 posts since
May 18, 2010
Rep Points: 4

2. Tuesday, May 18, 2010 - 5:14 PM

Maybe this is the same trend with airlines? Charging for meals, checked baggage, pillows and blankets? Now banks will charge for any transfer of money into and out from the bank regardless of method? Some charge a per check processing fee. Some charge if you make an in branch deposit. Imagine all of the fees that banks can earn just by making all EFT activity fee based? Direct Deposit was offered as a free service, but that doesn't mean forever free.

Anonymous963 posts since
May 9, 2010
Rep Points: 1,953