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Citibank hits checking accounts with fee
UPI ^ | 10/1/11

Posted on 10/01/2011 12:47:05 PM PDT by EBH

U.S. banking giant Citigroup Inc. said this week it would charge $15 per month for checking account holders who kept a balance below $6,000.

The firm's move comes on the heels of Bank of America's announcement this week that it would charge $5 for most debit card holders and sparked at least one desertion, the Los Angeles Times reported Saturday.

Cheryl Holt of Burbank, Calif., said she was "on my way out the door right now … off to start a new account at my nearest credit union."

"Should have done it years before," she added.

Holt said she received a letter with an "absurd salutation," that said, "Customers like you have told us that what they want from their banks are simple options and great rewards. We heard you and are writing to let you know that we are making some changes to your EZ Checking Package."

That said, the bank dropped the $180 per year bomb.

(Excerpt) Read more at dalje.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: citibank; citicorp; citigroup; frankdodd; greedybankers
My statements this month had a whole slew of new and odd fee's...the best one was the one the called an analysis fee. So there was a fee for the computer to analyze my account relationships to determine what fee's I will now be charged! LOL.
1 posted on 10/01/2011 12:47:08 PM PDT by EBH
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To: EBH

Bahney Fwank and Chris Dodd stick it to Americans again.


2 posted on 10/01/2011 12:50:04 PM PDT by FlingWingFlyer (If you always tell the truth, you won't have to remember what you said.)
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To: EBH
but will it make up for all the money they will lose from all the people who leave because of it???
3 posted on 10/01/2011 12:50:44 PM PDT by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: EBH

Thank you Chris & Barney!


4 posted on 10/01/2011 12:50:59 PM PDT by moovova (Report my sarcastic, fear-mongering lies to www.AttackWatch.com by clicking HERE.)
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To: EBH

Credit Unions are your friend.


5 posted on 10/01/2011 12:53:29 PM PDT by chopperman
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To: Chode

Their analysis probably shows that the people who are leaving have accounts that they are losing money on. So they will consider it a favor if these people leave.


6 posted on 10/01/2011 12:56:29 PM PDT by proxy_user
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To: EBH

Under $6,000!

I would not trust the bank with that much especially now when the could close the doors at any time!


7 posted on 10/01/2011 12:58:43 PM PDT by jafojeffsurf (Return to the Constitution)
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To: jafojeffsurf

Well that keeps the rifraf out don’t ya’ know. All those direct deposit government checks will now have $15 auto-docked off of them.


8 posted on 10/01/2011 1:00:07 PM PDT by EBH (God Humbles Nations, Leaders, and Peoples before He uses them for His Purpose)
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To: EBH

I got a letter from Citi telling me I would be charged $20 a month if my balance was under $15,000. (Checking was formerly free if the balance was $6,000.)


9 posted on 10/01/2011 1:00:20 PM PDT by BusterBear
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To: EBH

They already charged for accounts below 1500.00.


10 posted on 10/01/2011 1:00:30 PM PDT by org.whodat (Just another heartless American, hated by Perry and his fellow democrats.)
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To: BusterBear

http://m.sodahead.com/united-states/citibank-charges-750-fee-for-checking-accounts-below-1500-balance-do-you-think-this-is-fair/question-730045/


11 posted on 10/01/2011 1:02:21 PM PDT by org.whodat (Just another heartless American, hated by Perry and his fellow democrats.)
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To: BusterBear

Oddly enough I don’t consider checking accounts with that kind of balance...there are better things to do with that kind of money...


12 posted on 10/01/2011 1:02:54 PM PDT by EBH (God Humbles Nations, Leaders, and Peoples before He uses them for His Purpose)
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To: proxy_user
they will prolly get may favors then...
13 posted on 10/01/2011 1:04:02 PM PDT by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: EBH

My wife and I went down to a community bank today, and moved 3/4 of our savings out of Bank of America.

It didn’t happen because of the new fees since we have been thinking of it for some time now. From my wife’s side, it was because BoA is looking unhealthy, and for me, it was that, their liberal stance and lousy service.

I have come to detest BoA over time.


14 posted on 10/01/2011 1:04:55 PM PDT by rlmorel (9/11: Aggression is attracted to weakness like sharks are to blood, and we were weak. We still are.)
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To: EBH
You know what? I just don't care. This is small potatoes compared to big things like drilling for more oil here in the US. We spend hundreds of dollars a month for fuel.

I'll get all worked up over this stinkin administration doing everything they can to keep the price of gasoline high. Bank fees are miniscule compared to our fuel expenses and it doesn't have to be this way.

15 posted on 10/01/2011 1:09:11 PM PDT by Conservativegreatgrandma
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To: EBH

What? Where do we put it to get some return without risking it?


16 posted on 10/01/2011 1:10:36 PM PDT by Conservativegreatgrandma
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To: EBH

Yep, so now all the POOR need to either pay $15 to have an account or pay to have a check cashed. Got to love that hope and change$$$


17 posted on 10/01/2011 1:10:52 PM PDT by jafojeffsurf (Return to the Constitution)
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To: rlmorel

Why anyone banks with these humongous banks makes no sense to me. They DO NOT CARE about the individual as a customer and don’t offer enough services to make up for all the bullish** fees and run-arounds they inevitably foist upon their customers.


18 posted on 10/01/2011 1:11:07 PM PDT by glorgau
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To: jafojeffsurf
Yep, so now all the POOR need to either pay $15 to have an account or pay to have a check cashed.

I'm sure they will figure out a way to make it a middle-class fee.

19 posted on 10/01/2011 1:20:11 PM PDT by Right Wing Assault (Dick Obama is more inexperienced now than he was before he was elected.)
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To: Right Wing Assault

That and of course “Bush’s Fault”.


20 posted on 10/01/2011 1:25:58 PM PDT by jafojeffsurf (Return to the Constitution)
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To: jafojeffsurf

Under $6,000!

I would not trust the bank with that much especially now when they could close the doors at any time!


I don’t follow. Since banks are covered by FDIC insurance, in the event of a bank failure, you would be fully reimbursed for the amount you had in the bank.

Is that what you are talking about, or am I missing something?


21 posted on 10/01/2011 1:28:33 PM PDT by Dilbert San Diego
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To: Dilbert San Diego

Ya because the federal government is so flush with cash to cover the claims.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aEKc7Yh8ogXw


22 posted on 10/01/2011 1:35:10 PM PDT by cableguymn
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To: FlingWingFlyer

The more laws the less justice - pass this along. Make sure that folks know everytime the government want to help the little guy - who can’t keep track of his money, so he writes bad checks, that the bank may pay, he wants it done for free. So you and I pay because the banks have to follow new rules and charge the fool less for his errors.


23 posted on 10/01/2011 2:10:29 PM PDT by q_an_a
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To: Dilbert San Diego

Sure if there would be a chance of normalcy, but I do not believe we are in normal waters, so the FDIC guarantee means as much as paper Gold to me.
Also how long would it take you to get your hands on it if they did close their doors? You are more than welcome to put your faith in the government to fulfill its obligations, but I do not. They cannot and that is why the government was never suppose to be as large as it is now. They have overstepped their bounds and now to many put faith in it.
Lastly how many time in history has a country closed the banks and reassessed the money, say you have $5,000 in when the doors are closed and when they open back up they dropped a zero or two? To many and I do not put a move like this beyond the frail.

I believe we have a major crash unlike anything we have seen before in recent history. Beyond just the USA.


24 posted on 10/01/2011 2:11:58 PM PDT by jafojeffsurf (Return to the Constitution)
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To: All

If someone knows of NON FEE DEBIT CARD Banks... now or in the future... please let everyone know in FR. I hope there will be some banks that won’t charge fees, or least lower fees.

TIA


25 posted on 10/01/2011 2:30:02 PM PDT by ElPatriota (The SILENCE of the Catholic Church in protecting our culture from perversion is ** DEAFENING **)
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To: ElPatriota
USAA doesn't have fees and as of 3 weeks ago when i closed my suntrust account due to fees, PNC didn't have them.
26 posted on 10/01/2011 2:36:05 PM PDT by tfecw (It's for the children)
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To: EBH

Dump the Bank and find a Credit Union. We have been members of one for 25 years and there is no ding charges.


27 posted on 10/01/2011 2:44:28 PM PDT by NavyCanDo
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To: EBH

My Dad has been steaming for the past few days when he got the notice too.


28 posted on 10/01/2011 3:02:13 PM PDT by max americana (FUBO NATION 2012 FK BARAK)
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To: FlingWingFlyer

“Bahney Fwank and Chris Dodd stick it to Americans again.”

Don’t forget D**khead Durban who owns the amendment!


29 posted on 10/01/2011 3:15:52 PM PDT by mongo141
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To: EBH

This is the FRANK-DODD BANKING TAX.


30 posted on 10/01/2011 5:03:22 PM PDT by WOSG (“Legion of Acceptibility”)
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To: WOSG

I suggest those running against these idiots point out the fee is directly related to these idiots.

People got all worked up over ATM fees when those started happening too.

That is the down side to the small banks. Most everyone nicks ya for using their ATM’s..

I’m with wells fargo and my accounts so far are “free” as long as there is a automatic 100.00 transfer to my savings. It does not have to stay there however.

Happens every month on a pay day. I just kick it back over to checking if i need it.


31 posted on 10/01/2011 5:33:59 PM PDT by cableguymn
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To: WOSG

I suggest those running against these idiots point out the fee is directly related to these idiots.

People got all worked up over ATM fees when those started happening too.

That is the down side to the small banks. Most everyone nicks ya for using their ATM’s..

I’m with wells fargo and my accounts so far are “free” as long as there is a automatic 100.00 transfer to my savings. It does not have to stay there however.

Happens every month on a pay day. I just kick it back over to checking if i need it.


32 posted on 10/01/2011 5:34:33 PM PDT by cableguymn
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To: cableguymn

I had what was called a ‘relationship’ account. ALL my accounts with my bank earned me “free” accounts. Personal checking and savings, business checking, HELOC, and investment.

This month fee’s popped up on my accounts...I inquired...guess I missed the notice(s). The one though that got me pissed off was the analysis fee...a stinkin’ 0.19 fee for them to figure out what to charge me now.


33 posted on 10/01/2011 6:16:08 PM PDT by EBH (God Humbles Nations, Leaders, and Peoples before He uses them for His Purpose)
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To: max americana

It is a bit over the top and considering the banks are sitting on all the money....? It doesn’t make a lot of sense.


34 posted on 10/01/2011 6:17:50 PM PDT by EBH (God Humbles Nations, Leaders, and Peoples before He uses them for His Purpose)
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To: EBH

I have some money with Citi and will be leaving them.


35 posted on 10/01/2011 6:18:29 PM PDT by dennisw (nzt - works better if you're already smart)
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To: EBH

BOHICA, Infidels.

http://www.google.com/#hl=en&cp=34&gs_id=7a&xhr=t&q=Saudi+Prince++Al-Waleed+bin+Talal+citigroup


36 posted on 10/01/2011 7:52:38 PM PDT by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: EBH
It is a bit over the top and considering the banks are sitting on all the money....? It doesn’t make a lot of sense.

Citibank isn't in the best of shape. It's stock value is off ~95% from pre credit crisis valuations. If the government hadn't stepped in, it would no longer be around.

37 posted on 10/02/2011 3:41:31 AM PDT by EVO X
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To: EVO X

A bit of tongue and cheek ...

The press is talking about how all the banks are sitting on all the bail-out money so they can continue to pass the stress tests. How they are not lending etc....


38 posted on 10/02/2011 3:54:42 AM PDT by EBH (God Humbles Nations, Leaders, and Peoples before He uses them for His Purpose)
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To: TigerLikesRooster

ping


39 posted on 10/02/2011 5:38:31 AM PDT by EBH (God Humbles Nations, Leaders, and Peoples before He uses them for His Purpose)
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To: Dilbert San Diego

“you would be fully reimbursed for the amount you had in the bank.”

When exactly does FDIC come through with those funds people need to live on, 3 months, 6 months a year?


40 posted on 10/02/2011 9:27:02 AM PDT by CodeToad (Islam needs to be banned in the US and treated as a criminal enterprise.)
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To: CodeToad

I thought they got their money almost immediately. If that doesn’t happen, then my idea that the money is safe is wrong.

I personally know of a couple of smaller banks which had failed, in which the banks were closed on Friday, and re-opened for business as usual on Monday, after having been merged into other healthier banks. If that happens, then the customer would not have any interruption of access to their money.

If FDIC doesn’t pay people right away in case of a bank failure, then the FDIC insurance would be meaningless.


41 posted on 10/02/2011 9:46:38 AM PDT by Dilbert San Diego
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To: Dilbert San Diego

If a bigger bank takes over the smaller, sure, the money has been there, but if the bank simply goes out of business it has taken a few days to a few months. It is one reason I keep multiple accounts at various banks to limit risk, such as bank computers that go out over the weekend and debit cards have failed to work.


42 posted on 10/02/2011 10:16:40 AM PDT by CodeToad (Islam needs to be banned in the US and treated as a criminal enterprise.)
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