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 ...
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?
Ya because the federal government is so flush with cash to cover the claims.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aEKc7Yh8ogXw
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.
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.
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
Dump the Bank and find a Credit Union. We have been members of one for 25 years and there is no ding charges.
My Dad has been steaming for the past few days when he got the notice too.
“Bahney Fwank and Chris Dodd stick it to Americans again.”
Don’t forget D**khead Durban who owns the amendment!
This is the FRANK-DODD BANKING TAX.
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.
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.
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.
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.
I have some money with Citi and will be leaving them.
BOHICA, Infidels.
http://www.google.com/#hl=en&cp=34&gs_id=7a&xhr=t&q=Saudi+Prince++Al-Waleed+bin+Talal+citigroup
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.
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....
ping
“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?
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