Banks' Check Fees Reach Record High — What Does Your Bank Charge?
According to Bankrate.com, fees for accounts are at their highest levels — and Bristol-WarrenPatch is asking: How does your bank compare?
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The cost of banking is going up — and lending institutions are finding ways to tack new fees onto checking and other accounts.
Bankrate.com reported recently that charges for use of bank accounts have reached an all-time high this year.
Whether it's higher costs for using ATMs at other banks, monthly "maintenance fees" averaging more than $5, or overdraft charges of $30 or more, bank customers are paying more to get access to their money.
Bristol-Warren Patch wants to know: How have you been affected?
Does more of your money every month go toward banking fees?
Where do you keep your money — and how do your bank's charges compare to other institutions?
The survey by Bankrate.com found that 72 percent of customers said they'd change banks if their fees went up — would it cause you to switch?
Post your answers in the comment section below.
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portsmouthgirl63
12:38 pm on Tuesday, September 25, 2012
$4.95 monthly maintenance fee....waived if you have direct deposit (my company does not)...I use only my banks atm (unless extreme emergency) BankNewport....otherwise very happy with them........Oh, and don't bounce checks if you want to avoid those fees!
Denis D. Dowd
1:22 pm on Tuesday, September 25, 2012
At this point in my life, Bank of America provides me totally free (including new checks) checking through a program that - I think - is called ADVANTAGE; it is for senior citizens who have direct deposit of some form of monthly income.
If that changed for any reason, I would definitely change banks, even if it didn't same me anything.
David
1:44 pm on Tuesday, September 25, 2012
Just use a darn credit union already people! People's CU has NEVER failed me! Great place to do business.
patsfan
7:17 am on Wednesday, September 26, 2012
NFCU the best bank never ever had any problems or outrageous fees!
Still Broke
9:43 am on Wednesday, September 26, 2012
I use BankNewport and get a $6.95 monthly fee. Portsmouthgirl63 gets charged $4.95. Is there a discount in Portsmouth or do they charge more in Warren?
Jessica Pfefferle
10:05 am on Wednesday, September 26, 2012
As a customer of BankNewport myself, I would suggest that you go into your branch and speak with a teller or customer service respresentative. They have other accounts that might fit your needs better (including waiving fees or lowering your monthly fee).
RSwanson
7:14 pm on Wednesday, September 26, 2012
BayCoastBank is the way to go. Interest on your checking account!