Citibank To Charge Fees On Checking Accounts

[Newsjock]

Source: Consumerist

If you're a Citibank customer who has one of the bank's two smaller checking account plans—the ones where the monthly fee is waived as long as you use direct deposit or their online bill payment—then maybe it's time to consider taking your business elsewhere. Starting in February, anyone with an average balance of less than $1500 will be assessed a monthly $7.50 service fee, reports the New York Post.

... A management consultant told the Post that if customers stay with Citibank even after they raise the fee, it will send a signal to other banks that they can do the same with lower-income checking accounts. Hmm, maybe it's time to start looking around for a good credit union?

Read more: http://consumerist.com/5400839/citibank-to-charge-fees-on-checking-accounts

[chill_wind]

1. K & R. A credit union is sounding better and better. n/t

[imdjh]

2. 15 years ago the banks around here were trying to charge nine bucks a month

Except for seniors and high balance accounts.

If Well Fargo tries it here, I'll just start using the Navy credit union.

[AllentownJake]

3. Citibank is going down

[aquart]

4. I love my credit union.

And nobody sane should have a dime in Citibank.

[Angry Dragon]

5. I have been with my Credit Union for over 35 years

always have been treated well

[rhett o rick]

8. I think it is 41 years for me. I am old. I remember when interest rates dropped in the early

1970's and my credit union sent me a letter saying something like, "if you would like your interest rate for your home mortgage to drop from 9 1/4% to 7%, please sign below." Love my credit union.

[bobbolink]

6. Geee, how surprising that they are hitting poor people most.

Will the muddleclass "progressives" give a shit?

[marmar]

7. Desperate Measures by a Desperate Bank......

$hiti is the biggest zombie of the zombie banks.

[jtrockville]

9. Credit union or local bank. Forget the big banks.