Thousands of people recently joined credit unions after the uproar Bank of America created with its new debit card fee. Public outcry prompted Bank of America to reverse its decision, but other bank fees are on the rise.
The majority of banks now charge a fee for non-interest checking accounts. Two years ago, most of those accounts were free. Overdraft charges and ATM fees are also at record highs.
And banks are adding other fees. For example, Bank of America now charges e-bank customers $8.95 a month to use a teller. PNC & US Bank charge $25 to close an account open less than six months.
Consumer Reports says that you can fight back. If you’re hit with a fee, ask your bank to waive it. If that doesn’t work, threaten to move your account.