Skip to comments.Citibank hits checking accounts with fee
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 â¦ 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 ...
Bahney Fwank and Chris Dodd stick it to Americans again.
Thank you Chris & Barney!
Credit Unions are your friend.
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.
I would not trust the bank with that much especially now when the could close the doors at any time!
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.
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.)
They already charged for accounts below 1500.00.
Oddly enough I don’t consider checking accounts with that kind of balance...there are better things to do with that kind of money...
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.
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.
What? Where do we put it to get some return without risking it?
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$$$
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.
I'm sure they will figure out a way to make it a middle-class fee.
That and of course “Bush’s Fault”.
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